Blog about Filing Bankruptcy in Washington DC and Maryland

6 Signs You’re Bad at Managing Your Money

Whether you’re trying to save for retirement or avoid consumer debt, managing your money is one of the most important skills a person can learn. The first step for solving any problem is admitting that it exists. Here are a few glaring signs that you are bad at money management. 6 Sings You’re Bad at Managing Your Money You don’t budget: Budgeting is the financial equivalent of showering. You absolutely have to do it. It’s impossible to be good with money if you don’t know where your money is going, what your expenses are and how you are planning on allocating your financial resources. If you don’t have a budget, this should be your very first step. You don’t have an emergency fund: Have you ever considered what would happen if your car broke down or you had a surprise medical expense? You need to protect yourself from a situation…
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4 Ways You’re Wasting Your Money

Making a budget can be tough, so before you start to make major changes to your lifestyle, it helps to identify ways where you might be wasting your money without knowing it. Here’s a look at some ways that your money might be disappearing. 4 Ways You’re Wasting Your Money Credit card interest: Credit cards can have gruesome interest rates. Every dollar you pay in interest is a dollar you won’t be able to spend on crucial household expenses, retirement or an education for your children. Sometimes, putting bills on the credit card might be the only option, but do your best not the make a habit of it. Avoid using credit for large purchases, and be careful not to accumulate a bill that you won’t be able to pay on time. Consumer debt can be a huge money drain, even when it is relatively small. Buying high-octane gasoline: Some…
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3 Things You Might Not Know about Refinancing Student Loans

Refinancing student loans is a common piece of advice for people looking to escape debt or simply save money on interest rates. But how much do you really know about the process? Here are a few things you might want to learn about refinancing student debt. 3 Things You Might Not Know about Refinancing Student Loans It could mean the end of your federal loan benefits: Refinancing with a private lender means losing your federal student loan benefits. These benefits include flexible repayment options, public service loan forgiveness programs, deferment options and other important benefits. Make sure you understand the benefits you might be sacrificing to get that better rate. It may still be worth it, but it’s always better to know before rather than after you make a deal. It’s not the same as consolidation: People often have a hard time knowing the difference between refinancing and consolidation. Consolidation…
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