Single parenting brings unique budgeting challenges.
The U.S. Department of Agriculture reports that it costs an estimated $241,080 for a middle-income couple to raise a child to age 18 – and many single parents shoulder that responsibility alone. Even with adequate child support, it’s smart to be proactive about financial matters as a single mom or dad.
Q: I’ve heard VantageScore is getting an overhaul. What kind of changes are being made and how will this affect how my score is calculated?
A: The VantageScore, which dictates the way credit bureaus — Experian, TransUnion, and Equifax — determine your credit score, is getting a shake-up this fall. It’s wise be learn all you can about these changes so you can make the necessary adjustments to your credit behavior.
Put all high-interest credit card debt and payday loans into one loan with a fixed rate, a fixed monthly payment and a closed-end term. You’ll save money and make debt management a lot simpler. Be sure to stop using any credit cards you pay off so you don’t rack up another large bill.
Are you a swiper or a dipper? Chances are, you have at least one EMV chip-enabled card in your wallet.
EMV, which stands for Europay, Mastercard and Visa, and has been used for years throughout the world, was introduced in the U.S. about 18 months ago. The cards are also called smart cards, chip cards, smart-chip cards and chip-enabled smart cards.
Here’s what you need to know about the new generation of cards.
If you’re up to your eyeballs in debt, the one thing you may wish for more than anything else is a blank slate. If you had a chance to wipe your slate clean and start over, things would be different. Of course, barring a winning lottery ticket, nothing is going to make that much of a change overnight.