Never heard of Barclaycard before? Well, you're not alone here in the United States. Although Barclaycard has been around for over 50 years and serves 36 million cardholders worldwide, its brand recognition still isn't that great in America.
The public school system doesn’t teach young adults how to use credit wisely. The responsibility to teach youth how credit works and how to use it wisely falls upon the heads of parents, but the fact is most parents either have no clue themselves or simply never take the time to pass this knowledge along to their children.
Personal finance "experts" are a dime a dozen these days. Simply mentioning something like credit cards will generally cause people to jump at the chance to educate you with their very best advice.
So as you might imagine, kids today are hearing a lot of advice about credit cards - from parents, teachers, schoolmates, commercials...the list goes on. So what credit card myths have your children probably been taught already?
Here are four you should make sure your kids never learn:
A new year often brings along new budgets as we seek to get a better hold on our personal finances in 2016. A household budget helps finances run smoothly, eliminating surprises and setting a clear path for every dollar that comes into the house. However, some people have a hard time making their budget work for them. If anyone feels trapped by their budget or feels like it just never works, they might actually be cheating on their budget. This can happen consciously or subconsciously. A successful budget requires complete honesty and recognition of the natural desire to enjoy life.
Like it or not, FICO scores have become extremely important numbers in our lives. So much so that I often refer to them as our "personal reputation" in the financial world. Disregard your FICO scores, and you may find it extremely difficult to get approved for anything from apartment rentals, auto loans, and home loans, to a new rewards credit card. Even insurance companies are taking a look at your FICO scores these days to determine if you're a risk worth taking, so there's no doubt that keeping your scores in tip-top shape can save you a lot of hassle and money in the future.
In the early days of social media, content concerns were usually limited to how personal shares might affect your ability to get promoted at work. Today, another serious question has begun to surface - can these archived shares actually affect the sharer's creditworthiness?
The most precise answer right at this moment is, "Maybe."
The Snowball Plan isn’t your typical paying-off-debt plan; it’s designed to jumpstart those who have found themselves in a lot of debt and feel hopelessly overwhelmed. If that’s you, have hope - you will pay off your debt, soon.
Anticipating the financial challenges that life might throw your way can be difficult, and that’s why it’s a good idea to think about such situations far in advance. Most families at some point are going to have trouble making ends meet, and how you elect to address those problems will have a major impact on how long they might last. When is it wise to use credit cards to bridge a monetary gap? Should you consider seeking a loan from a family member? Are you saving enough during the good times to handle a possible bad stretch?
College grads are often trying to strike the right balance between opportunity and cost when figuring out where they want to work after they’re done with school. It’s a challenge dealing with things like a debt load and credit cards while also hoping to find the best city to work and live in. The problem is that frequently the best cities are also the most expensive, and this is a time when grads don’t want to take on more debt if possible. Let’s take a look at cities where graduates have a better chance of thriving without adding more to their debts.
Money fears are more common than you might think. One recent survey by the American Institute of Certified Public Accountants showed that 44% -- nearly half – of all US adults are worried about money and that of the adults who indicated that they were financially stressed, only about 28% would see any change in their financial stress level within the next six months. Further, several studies have shown that, nowadays, almost 80% of American families are living with debt.
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