Posts By: Owlbert {Einstein}

The best tool for teaching your kids about money is an allowance. If you want your children to grow up with good financial sense, you need to start early with a regular, consistent allowance. Giving your kids a source of income and the responsibility of managing it will teach them lessons to last a lifetime….

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We frequently see married credit counseling clients who come to us by themselves and do not want their spouses to find out about their debts.

Either one partner has secretly been using credit cards without his/her spouse’s knowledge and has gotten in too deep, or one person in the relationship is responsible for managing all of the family’s finances and, having failed to keep debt under control, doesn’t want anyone to find out.

Here are some basic ideas we offer to help parents break the cycle of debt and raise their children to be wise about their financial lives: 1.    Start early: Many parents make the mistake of waiting to teach their kids about money. We’ve met people who think even their teenage kids are too young to…

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In short, your credit utilization is the percentage of total credit used in comparison with the total credit available. Calculate your utilization by dividing your balance by your limit. For a simple example, let’s say you have one credit card, and it has a 10,000 dollar limit. If you owe $2,500 on that account, your…

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Do you want to close a credit card account but are unsure how it will affect your credit score? There are many reasons why we may want to close a credit card, such as avoiding annual fees, too many fees, high interest rates, or unsatisfactory customer service. Whatever the reason, please review the following to determine what is best for you:

The Fair Isaac Corporation FICO™ states “They would never recommend closing a credit card for the sole purpose of raising the score.”

Consumer credit reports can vary in the way they look and the order information is listed depending on which of the three major national credit-reporting bureaus provided the report.   Consumers can obtain their free credit reports once every 12 months at If you believe that there is inaccurate information on your credit report, it’s…

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If you’re paid bi-weekly on Fridays, then this month might be a 3-paycheck month for you. It happens roughly twice per year for those workers who are paid every other week, and for many of us, it’s like winning a small lottery jackpot.

But rather than squander that occasional 3rd paycheck in a month, use those funds to help bring your personal finances into balance. Here are 5 suggestions for getting the most out of that extra paycheck: