Author name: American Credit Union Staff

What you need to know when a debt collector comes calling: If you have credits cards, chances are you may run into some debt at some point. And if you run up considerable debt, an official debt collector may contact you. Do not be afraid. Debt collectors are not evil, and there are rules that […]

Do you always wish you could have more but spend less? Well, you may not be able to get that sports car for a steal, but there are ways to make your dollars go further and perhaps get some items you wouldn’t otherwise be able to afford. Or you can use a little chutzpah and

We’re all concerned about how to save money for the future. Whether you’re a Baby Boomer who’s been hit hard by the bear market or a young adult looking to retire in 35 years, there are simple ways to start organizing your ideal retirement plan. “Plan” Isn’t Just a Noun, It’s Also A Verb No

How to avoid financial foibles: Even if you think you are a careful spender, you could be making basic financial mistakes that are common to almost all of us. To steer clear of these mistakes, follow these simple steps and be in better control of your bank account. Don’t Miss The Catch. Whenever you hear

Have you ever figured out how much money you will make in your lifetime? Looking at the total numbers can be both exciting and sobering. If you are 25 and make $40,000 a year, by the time you are 65, you could have earned over 1.6 million dollars–and that’s assuming you never get a raise.

Would you be interested in freeing up 10% to 15% of your current income? Just imagine what you could do with this money. You could pay down your debts, increase your savings, or work toward that next important purchase that you have in mind. Wouldn’t it be exciting to actually have money left over at

There’s a new act in town! It’s called the Fair and Accurate Credit Transactions Act. This act, among other things, stipulates that each American consumer is entitled to a yearly review of their credit report, one provided by each of the three main credit bureaus: Experian, TransUnion, and Exquifax. The act will go into effect

We all have to eat, and as they say, there’s no such thing as a free lunch. A large portion of our budget has to go towards food. But you don’t have to spend as much as you think. At the end of a long day at work, it is easy to reach for the

Going out to dinner is a fun, relaxing, even exciting experience. It’s a shame that it can be such a hardship on your pocketbook. But you can still enjoy all the perks and treats of being waited on at a nice restaurant while still being money savvy. You don’t have splurge to eat out if

Holiday Debt? Ah, the holiday season! Turkey and dressing, pumpkin pie, office parties, jingle bells, and lots and lots of eggnog make the season a delight. But all fun and reindeer games aside, you have to be careful to make sure you don’t wind up as poor as Tiny Tim! Americans can spend as much

With consumer debt at an all time high it’s time we take control of our finances and get out of the “debt trap”. Do you realize that if you owe $2,000 on a credit card with a 21% interest rate, and you only make the minimum payment each month that you will owe on this

The familiar first words of the credit card offer. If you’re over 18, chances are you’ve had your share of the nearly 3 billion pieces of direct mail sent out each year to possible credit card customers. Credit card companies want you, and they want to get you early, while you’re still in college if

Do you want to live like the young, rich, flashy millionaires who live fast and die young? Or do you want to build a stable fortune? Sure the life of fast cars and expensive toys is fun, but does it last? Only until the next bear market. In a recent Phoenix Cos. survey, all six

Who is wealthier: The man who drives a fast car, eats at expensive restaurants, has all the latest gadgets, and lives paycheck-to-paycheck? Or the man who drives an older model, reserves dining out for special occasions, doesn’t bother with expensive toys, and has enough money accumulated in the bank and in investments to live for

Ah, being a newlywed. Life is beautiful, your loved one is beautiful, and everything is peaches and cream. Well, in your mind and heart it may be, but the honeymoon has to end sometime. Two hearts are now joined as one, and so are your assets. It is time to start sorting out your finances

Remember when you were a kid and you had a piggy bank? You would drop pennies and nickels into it just to hear that pleasing “plink” sound. You didn’t spend that money on candy or tickets to the movies, and eventually, all those pennies and nickels added up. Now you are grown up, and your

Your grandmother used to say: “A penny saved is a penny earned,” but these days a penny doesn’t seem to be worth much. If you drop one, it’s barely worth the trouble to pick it up. While it’s true that a single penny won’t get you far, it’s not true that a penny has no

Children seem to be born with an insatiable desire to spend. Whether it’s Christmas, birthday parties, or a trip to the local mall, children are never too shy when it comes to vocalizing their wants. And sometimes, they’re relentless. Parents face this on a daily basis. Dealing with the barrage of purchase requests becomes a

Dinner at your favorite restaurant, or the dentist bill for next month’s cleaning. That technical gadget you’ve been drooling over, or your home owner’s insurance which isn’t due for 120 days. The new fall fashion, or the car inspection sticker that expires in 32 weeks. Which ones are you most likely to spend money on

Do you know what your credit score means? Really, do you? You may want to make sure you are perfectly clear on that, because The Consumer Federation of America reported in September of 2004 that of 1,000 Americans they surveyed, only one third understood that their credit score measured their likeliness to pay off a

Many of us are bombarded on a daily basis with low-rate and no-rate credit card offers. Several a day can be seen stacked in mailboxes everywhere. But, the real question is, what do we do with these? Deciding whether to file them in the recycle bin or actually consider signing up is a chore in

Today, four tickets to a professional ball game, four hot dogs, and four sodas can run you over $200. The same goes for a trip to a theme park, and the food there may cost even more. Fortunately, family fun can be found for a lot cheaper than you might think, and your kids won’t

For far too many Americans, sweating it out financially until the next paycheck arrives is an all-too-common occurrence. What’s more, for those who find themselves in such a sticky situation, it’s not hard to imagine that saving money is high on the priority list. According to a recent survey from job-search site CareerBuilder, a full

Everyone remembers their first credit card. For some, the memory marks the beginnings of a successful financial journey… For others, it marks the beginning of a series of ill-advised purchases with the accompanying high-interest rates – and a descent into the murky waters of late payment fees, over-the-limit fees and a myriad of other ugly

When it comes to credit scores, a goal of a higher credit score is always better. Ranging from 350-850, your score can impart serious consequences on your financial life including what type of interest rate your credit cards carry, whether or not you’re approved for loans, your car insurance rate (in most states), and whether

Even when you’ve got a carefully planned budget in place, life happens. All it takes is one unexpected expense – say, a home or car repair; a random impulse purchase; emergency dental work; you name it – to knock your finances off course. Blowing your budget is frustrating, to be sure. But it doesn’t have

As much as Americans love to use credit cards – we have nearly $1 trillion in credit card debt to prove it – you’d think more of us would be well versed in the myriad of fees that often pop up on our monthly statements. But alas, many of us might find ourselves surprised at

Did you know your minimum credit card payment is rising? A new government program working to get Americans out of credit card debt is pushing credit card issuers to raise minimum monthly payments. Will you be able to make the higher monthly payment? Here are some tips for getting by. If you’re an American, your

There are credit counseling agencies that rescue people from the deepest financial holes. There are also credit counseling agencies that just shovel in more dirt. How do you tell them apart? Signs of a Reliable Credit Counseling Agency Better Business Bureau Membership The service’s website should have a BBB logo and a link to their

Thinking about conquering your mountain of debt but too scared even to give your debt much thought? Read this real-world scenario of how one person took the $10,000 credit card challenge and erase her credit card debt within a few years. Ever wonder how some people deep in credit card debt manage to come out