Bill collector acting like a pirate? The law's on your side
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Every day, thousands of Americans get calls from debt collectors.

If you’re in the middle of settlement, debt consolidation, or even in the early stages of seeking debt relief, you don’t deserve unwanted and harassing calls; and you don’t have to let them disrupt your life.

Today, we’ll discuss facts and resources to help you use existing consumer credit protection laws to your advantage and cut through the climate of fear that a small minority of abusive debt collectors create for hard-working people. (more…)

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In a previous post, we discussed staying out of debt and maximizing your savings by staying aware of the terms, fees, and features your bank offers and, most importantly, moving to a new one if you discover terms that suit you better. This time, we’re going to share a few more resources to help you locate those deals in your region and compare what’s available. Your bank is immensely important in your financial world, and a little part of it goes with you everywhere in the form of your debit card, so it’s worth getting the most out of it. Even if there weren’t many other options when you first started banking, there probably are now — and lots of people are hunting for the best ones. (more…)

Feeling a little tax pressure? You're not alone.
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It’s April 16th and taxpayers around the U.S. are breathing a collective sigh of relief as Tax Day has come and gone for another year — at least, that’s the reaction among those not scrambling to file extensions and deal with last minute IRS complications. If you feel overwhelmed, you’re not alone. One of the best reasons to seek help from an independent financial advisor is that although 90% of Americans file taxes, it can be argued that no one really understands the tax code. (more…)

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Household savings is one of your first lines of defense against debt, but most people have more experience with credit than they do with saving cash. If you’re having trouble putting money away, use a little psychology and your bank account to help you out. Remember: it takes longer than a day or two to settle into new habits, and though resolving to save more and spend less is a good start, you’ll have to find a way to endure after enthusiasm starts to dry up. That’s where “Keep the Change” comes in. (more…)

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In today’s tight consumer credit market, it’s harder than ever for someone starting out on the road to financial responsibility to establish strong credit; and even with new legislation intended to protect credit-holders, the stakes may very well be higher now than they were twenty, ten, or even five years ago. A few key credit facts can go a long way toward helping teens and young adults establish a positive credit history that works in their favor when it’s time to start making big decisions.

Here are some useful credit tips to help the youngster in your life avoid debt as an adult. (more…)

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Here’s another way to protect your budget – take advantage of the free account balance alert feature that many banks now offer. You can request an email you or a text message to your phone letting you know when your account balance falls below a level you specify or when your direct deposit paycheck has posted. They’ll also send reminders of when your bank payments are due, such as credit card debt or other lines of credit.

While there’s no guarantee the alerts will protect you from overdrawing your account or being charged fees you weren’t anticipating, they will let you know where you stand. If you do overdraw or get hit with fees, the alerts will allow you to take immediate steps to get back on track paying your bills if you break your budget.

You can prevent overdrawing your account, which is especially important if you’re still using a debit card. Instruct the bank to remove the ability to overspend from your debit card. Make sure the bank reduces the amount you can overdraw to $0. This is quite an important move for budget protection. It also keeps from getting into debt with the bank by having to worry about having an overdraft line of credit.

Once you’ve run out of funds, banks typically allow you to keep using your debt card as a credit card. Sometimes, they’ll even allow you to withdraw as much as $400 from ATM This allows them to charge you interest on the amount of the overdraft, which can be quite costly.

Probably the best way to limit overdrafts and otherwise spending more than your budget allows by getting rid of the credit and debit card. Just carry the amount of cash you have budgeted.

Similarly, avoid store credit cards. There’s so much advertising and so many incentives for consumers to apply for these cards and keep using them. But these are high interest credit lines that end up offering you no bargains. Not surprisingly, they are a bargain for the credit card company. You shave a few dollars off your purchase, they get hundreds in interest payments. That’s why you need to take only the money you’ve budgeted when you go shopping

These are all great ways to protect your budget and keep it working for you. Remember that it’s an important asset so you need to protect it from the biggest threat is has – your own ability to splurge and take yourself off track. .