You come home one day and find a letter asking you to pay your recently deceased spouse’s $400 credit card bill. Soon after, you start receiving collection calls. What should you do? Are you responsible for paying the bill?
debt
Tips to Keep Debt in Check
Do you know the warning signs for carrying too much debt? If you’ve gotten off track with your credit card usage, or want to ensure your borrowing habits stay in good shape, here are some tips to help you manage your money wisely.
Start Defending Your Credit by Reading Your Reports
Life is short. Yet credit experts say you should devote some of your precious time to checking your credit reports for errors.
How Much Debt is Too Much?
Reprinted courtesy of SavvyMoney.
by Jean Chatzky
There’s a lid on the amount of debt you can comfortably take on, generally tied to your income. Too much, and you’ll quickly find yourself in a bind. Here’s how to land on your sweet spot.
SavvyMoney Minute: How Using Credit Affects Your Credit Score
You want to raise your credit score so you can get lower credit card interest rates, easier credit, even better job prospects? You need to understand “credit utilization.” It’s a simple ratio of how much credit you have versus how much you use, and it can make up to 20-30% of your credit score.
SavvyMoney Minute: Student Loan Debt
You probably know that student debt is a trillion dollar problem, but it doesn’t have to be a problem for you. The key is to borrow only what you can afford and pay it back fast and cheap. Here are Jean Chatzky’s favorite tips.
It’s a Money Thing: Boost Your Credit Score
Credit scores are an area of personal finance that seem a lot more mysterious than they actually are. Many people believe that improving them is a matter of trial and error and, as a result, there’s a lot of “credit score advice” floating around that can end up doing more harm than good. We’ve rounded up and bunked four common credit score myths.
SavvyMoney Minute: Financial Check-up
Once a year you go the doctor for a check-up. Twice a year you visit the dentist for a cleaning. But when was the last time you had a financial physical? Without one, you may not know if you’re financially healthy. Do you have too much debt? Are you saving enough for retirement?
SavvyMoney Minute: Good vs. Bad Debt
Recent statistics show that average credit card debt per indebted household is just over $16,000. But it turns out some debt is good. It’s important you know the difference; for example, debt for a want, not a need, is bad debt.