Budgeting

3 WOMEN ON THEIR BIGGEST FINANCIAL WINS

Her Money

diverse women reading a book and using a tablet 2022 09 16 09 25 50 utc 840x487

Do you have a budget? There’s no shame if you don’t — only 32% of U.S. households do. But that’s a problem. For example, 65% of us have no idea how much money we spent last month, and that “not knowing” can lead to feelings of stress, anxiety and dread at what might be on the horizon. No one wants to be afraid to take a peek at their finances — far from it! Our money lives should be something we’re able to look at often with confidence and readily embrace, with the knowledge that we’re on a path to a bright financial future. 

Thankfully, even if you’ve gotten behind on saving or haven’t considered budgeting before, it’s never too late to start. But don’t take our word for it. Three women in the HerMoney community dish on their biggest money worries — and how they turned them into their biggest money wins. 

READ MORE

What is a budget?

Fortune

Recommends What is a budget

One of the building blocks of personal finance is budgeting. But the word budget can be confusing or feel restrictive. Adding to that, there are many ways to budget—but what it boils down to is creating a plan for your money and tracking where it goes. Ideally, a budget creates more freedom, not less. 

READ MORE

Don't overspend this holiday season, follow these steps and stick to a budget

South Bend Tribune

holiday retail copy

This holiday season, supply chain problems, shipping delays, and inflation are making it even tougher to create and stick to a budget. However, these uncertainties mean that planning ahead and knowing your spending limits are more important than ever.

How can you build a holiday budget that will cover buying for everyone on your list while keeping you out of debt?

READ MORE

20 Ways to Take Control of Your Finances

The Balance 

girl sorting bills

Whether you're stuck in a cycle of debt, earning too little to maintain your desired standard of living, or simply wanting to get a jump on saving for a major financial goal, such as buying a home or investing, you may need help to get on track with your objectives. Follow these strategies for taking control of your finances right now.

READ MORE

57% of young adults dread budgeting. Here are 4 easy ways to remove the stress.

USA Today - July 1, 2022

guy on computer

For many young people, budgeting can feel like a chore. A recent study found that 57% of young people dread the thought of budgeting..

READ MORE

Essential Household Budgeting Tips

Credit.org

father_daughter_cooking

We’ve seen countless different household budgeting strategies over the decades we’ve spent educating consumers about managing their personal finances and conquering their debt.

READ MORE

Lesson 3: Budget to Control Spending

Judge John Ninfo - May 20, 2021

How to make a budget

CNN - Jan. 13, 2022

bfine hive150

Crafting your own monthly budget isn’t all that complicated, but it can be tedious and downright depressing when you’re first starting out. After all, creating a spending plan usually means cutting in areas you probably enjoy, such as dining out and entertainment. 

READ MORE

How to catch spending mistakes

Business Insider - Dec. 25, 2021

bfine hive150

I spoke to financial advisors about how to catch spending mistakes and create a foolproof budget for 2022 .

READ MORE

Credit

Liz Weston: Yes, spouse’s debt could lower your credit scores

Oregon Live

3DLDJTZRVRFU5GZUXWUQDJV6RA

Dear Liz: My spouse and I have added each other as authorized users on our credit cards. My spouse has more debt than I do. Does this impact my credit scores?

Answer: Possibly. Credit scoring formulas look at how much available credit is being used on each account. If your spouse has higher balances than you but also higher credit limits, your credit scores may not be harmed much, if at all. If, on the other hand, your spouse is using most of their available credit, your scores could suffer.

READ MORE

5 easy options for checking your credit score

Fortune

Recommends how to check your credit score

When you want to apply for a credit card or finance a large purchase like a mortgage, one of many numbers a lender will consider before approving your application is your credit score.  

This three-digit number will also determine the interest rate you’re offered when borrowing money, which impacts the total cost over the life of the loan. So before applying for financing, it’s important to check your credit score and see where you stand.  

READ MORE

Why Did My Credit Score Drop Suddenly? 11 Possible Reasons

Islandnow.com

Credit Score

As someone who gets credit report notifications, you should be familiar with changes in your credit score.. It is quite common for

your credit score to fluctuate with minor increments.

READ MORE

Opt Out of Credit Card Offers

Credit.org

Two dads carrying child

How often have you checked your mail or answered your phone only to find another prescreened credit card offer?

Blank envelopes and phone calls from unnamed phone numbers may seem like official notifications. More often than not, answering these notices leads you to find yet another offer claiming that you have been prescreened for a new line of credit.

READ MORE

How to Remove Negative Items From Your Credit Report

Nasdaq - July 7, 2022

Women sitting on floor drinking coffee

Your credit report is meant to be an accurate, detailed summary of your financial history — however, mistakes happen more often than you may think.

READ MORE

Settled medical debt is now dropping off credit reports — here’s how to check your record and make sure it’s right

CNBC - July 1, 2022

A white haired grandfather and teenage grandson are looking at the same laptop computer

If medical debt you’ve already paid has been lingering on your credit report, you may want to see if that has changed. 

READ MORE

Buy Now, Pay Later and Credit Reporting

Consumer Finance Protection Bureau - June 15, 2022

cfpb

In December 2021, the Consumer Financial Protection Bureau (CFPB) launched a market monitoring inquiry into Buy Now, Pay Later (BNPL).

READ MORE

U.S. Congress looking into credit report errors, disputes

Philadelphia Tribune - June 3, 2022

cfpb

The U.S. Congress is looking into mistakes on credit reports and how disputes are being handled by all three major credit reporting agencies, Equifax, Experian and TransUnion, as a result of payment deferment programs and rising cases of identity theft during the pandemic.

READ MORE

Where credit scores come from and why they don’t quite add up — but can

Boston Globe - May 30, 2022

ladder

Credit scores were founded on, and perpetuate, racial inequality.

READ MORE

Millennial Money: What to do if you buy now, can’t pay later

The Associated Press - Jan. 18, 2022

bfine hive150

Buy now, pay later” can be a convenient payment method. But if you don’t factor the recurring payments into your budget, it can get messy.

READ MORE

Consumer credit card debt and annual percentage rates are heading to an all-time high

CNBC - May 10, 2022

cfpb

Credit card debt is on the rise as consumers face higher prices almost across the board.

READ MORE

Experts Agree It’s Best To Avoid Pulling Money From a 401(k).

Next Advisor - May 24, 2022

cfpb

When a financial emergency hits, you may find yourself scrambling to get your hands on the money you need.

READ MORE

Lesson 1: Don't use credit cards to buy stuff you can't afford

Judge John Ninfo - October 26, 2021

Financial Literacy

9 LESSONS TO KNOW BEFORE BUYING A HOUSE

Her Money

moving day t20 8dgRGQ 840x487

Buying a home is more like buying a used car than renting an apartment. You need to ask questions, look under the hood and take it for a spin. Turn on all the faucets. Flush the toilet. Blast the heat and see what happens.

Gabby Orcutt of Rockton, Pennsylvania, had this epiphany when she bought her house several years ago. She and her husband only did one tour before submitting an offer. During their final walkthrough, two months later, they didn’t actually “walk through.” Instead they only stayed long enough to stock the fridge and fire up the wood-burning stove.

READ MORE

5 Questions Newlyweds Have About Life Insurance

LifeHappens.org

married couple

Although it may not be the first thing on your mind as a newlywed, creating a strong financial plan for your future should be animportant point on your to-do list. Moreover, your financial strategy needs to include planning for risk—and thinking about what could go wrong, even if it’s uncomfortable. Often, that means buying life insurance.

READ MORE

These four free personal finance courses can set you up for financial success in three hours or less

CNBC - July 20, 2022

two dads kid laptop

While personal finance isn't typically taught in school, we can still catch up with online courses.

READ MORE

Personal finance course to be required in the future for SC students to graduate high school

WIS News 10 - July 18, 2022

high school students & teacher

COLUMBIA, S.C. (WIS) - To graduate high school, students probably had to learn the Pythagorean Theorem, memorize the three branches of government and their functions, and read a little Shakespeare.  But in the future, South Carolina students will also need to learn skills like managing credit cards and filing taxes to get their diplomas.

READ MORE

Debt Consolidation Vs. Bankruptcy: What’s The Difference?

Forbes - June 14, 2022

class

If you’re looking for a way out from under overwhelming credit card bills and other debt, bankruptcy could wipe out your balances and offer a fresh start. But filing for bankruptcy has downsides, so you might consider debt consolidation as a way to simplify your finances and pay off debt faster.

READ MORE

The Personal Finance Advice Every College Graduate Needs

LifeHacker - May 25, 2022

bfine grad

For years you’ve lived on a college budget, scrounging meals where you can, buying gas on a trip-by-trip basis, and never once pondering the term “401(k).”

READ MORE

How women can take charge of their personal finance; here are 7 effective ways

Economic Times - May 24, 2022

woman1

Only 2% of women are investing for their retirement. It is important that you start early, start small and start investing in assets that leverage the power of compounding, like Equity Mutual Funds..

READ MORE

Floridians see personal finance class requirement as a positive for students

WSFU - May 15, 2022

bfine hive150

Residents across north central Florida are optimistic about the potential impacts of a new law requiring a personal finance class for graduation.

READ MORE

What Is a Homestead?

US News - May 23, 2022

bfine hive150

A homestead is an owner-occupied residence that can provide homeowners with certain financial and legal protections.

READ MORE

State-by-State List of Statute of Limitations on Debt

The Balance - January 7, 2022

bfine hive150

A statute of limitations is the amount of time a person can take in order to take legal action on a certain event..

READ MORE

If Your Finances Are Tight, Don’t Assume Fintech Is Your Friend

Forbes - Dec. 22, 2021

bfine hive150

Breaking a general rule, I’ll talk about a personal experience. Being in the market for a piece of equipment for personal and business use, I noticed a site offered a form of fintech-driven financing.

READ MORE

The Anxious Guy’s Guide to Financial Security

The Arrow - Aug. 17, 2021

bfine hive150

If you want to get your money straight, get your head straight first.

READ MORE

What is a recession? How economists define periods of economic downturn

Business Insider - July 30, 2021

bfine hive150

A recession is a period of decline in general economic activity, typically defined when an economy experiences a decrease in its gross domestic product for two consecutive quarters.

READ MORE

What is right of redemption?

Bankrate - October 25, 2021

bfine hive150

No one wants to find themselves losing their home to foreclosure, but if you’re in this situation, there’s potentially still time to recover using the right of redemption.

Read More

Loans

9 LESSONS TO KNOW BEFORE BUYING A HOUSE

Her Money

moving day t20 8dgRGQ 840x487

Buying a home is more like buying a used car than renting an apartment. You need to ask questions, look under the hood and take it for a spin. Turn on all the faucets. Flush the toilet. Blast the heat and see what happens.

Gabby Orcutt of Rockton, Pennsylvania, had this epiphany when she bought her house several years ago. She and her husband only did one tour before submitting an offer. During their final walkthrough, two months later, they didn’t actually “walk through.” Instead they only stayed long enough to stock the fridge and fire up the wood-burning stove.

READ MORE

Biden administration to make it easier for student loan borrowers to discharge debt in bankruptcy

CNBC

107153575 1668708555487 gettyimages 1434218786 107a9912 c20b2012 771a 4e5f ad54 c4f5b59a6561

The Biden administration announced on Thursday updated guidelines that will make it easier for those struggling with their student debt to discharge it in bankruptcy. The new bankruptcy policy comes from the U.S. Department of Justice and the U.S. Department of Education, and allows federal student loan borrowers to prove that they’re experiencing financial distress requiring a fresh start. Under the rules, the agencies may recommend that a bankruptcy judge discharge a borrower’s student debt if they find their case warrants it.

READ MORE

Biden's Education Department wipes out $1.5 billion in student debt for borrowers subjected to 'manipulation' by a for-profit school

Insider

graduation

President Joe Biden may have announced one-time blanket student-loan forgiveness, but that doesn't mean he's done helping borrowers who attended fraudulent for-profit schools. On Tuesday, Biden's Education Department announced it has approved $1.5 billion in student-debt relief for 79,000 borrowers who attended Westwood College. 

READ MORE

Tribal Payday Loans (What You Need to Know)

Credit.org

payday loan

The payday loan industry is notorious for its predatory practices and tendency to disregard the law. Federal and state governments alike have attempted to rein in payday lenders to protect consumers, especially since most payday loan borrowers ended up regretting their payday loans.

READ MORE

Buy-here, pay-here financing: What you need to know

Credit Karma - Oct. 21, 2021

woman looking at cars

Buy-here, pay-here loans can help people with poor credit secure auto financing. They’re offered by car dealerships that provide in-house financing — meaning the dealership both sells and finances its cars. But you may encounter a speed bump or two with buy-here, pay-here financing. These loans might not help you build credit and can come with high costs — sometimes thousands more than the car is actually worth.

READ MORE

Protecting servicemembers from costly auto loans and wrongful repossessions

CFPB - July 18, 2022

couple buying cars

If you take a drive down the main road leading to most military bases in the country, you’ll likely see car dealerships lining both sides of the street.

READ MORE

How online loans like Affirm and Afterpay really work—and should you ever use them

CNBC - June 6, 2022

woman shopping on laptop

After the birth of her son, Lauren Hynds wanted a way to work out that would be easy enough to manage while caring for a newborn. That’s when she saw ads for Peloton, the workout bike with the cult following.

READ MORE

Don't Let The Deadline for Public Service Loan Forgiveness Sneak Up on You

CNet - July 4, 2022 

man

You have until Oct. 31 to apply -- but if you need to consolidate your loans, you should start the process right away.

READ MORE

How to avoid common car leasing mistakes (2022 guide)

MarketWatch - June 7, 2022

car

 Signing a car lease can be a big commitment since you agree to drive a vehicle for a fixed number of miles and months.

READ MORE

Loan Modification Vs. Refinance: Which Is Best For You?

Rocket Mortgage-  June 6, 2022

bfine hive150

You might want to refinance your loan if you’re having trouble making your mortgage payments or to take advantage of a lower interest rate. 

READ MORE

Mortgage Relief Scams

FTC Consumer Advice 

ftc

Scammers promise to make changes to your mortgage loan or take other steps to save your home, but they don’t deliver.

READ MORE


A public education project of the National Association of Chapter Thirteen Trustees

© 2021 BFINE



DISCLAIMER
The materials on this website are for general information purposes only and should not be construed as legal advice, legal opinion, or any other advice on any specific facts or circumstances. You should not act or refrain from acting upon this information without seeking professional advice.