Credit card consolidation: Will it solve your financial woes?

The credit card companies are always eager to lend you money. The people fall prey to their marketing tricks and end up owning multiple high interest credit cards. The amount to be repaid becomes unmanageable and they fall back on their payments. This makes the matter worse since the high interest rate dues keep piling up. The debtors who are in this kind of a situation can take advantage of several options to clear out the debts. One such option is credit card consolidation, one of the most popular ways to become debt free.

However, people should know whether or not credit card consolidation is at all beneficial for them. There are a few advantages and disadvantages of credit card consolidation which may help a person to make a correct choice. Full Article

Skipping class costs how much!?

According to the recent infographic from StudentScholarshipSearch, skipping just one class is a waste of $20 if you attend a public college, or $50 if youre at a private school. This may seem like its not a big deal, but wasted money can add up fast! If youre paying for college with loans, youll be paying interest on that classs cost too!

Still not convinced you shouldnt skip class? What if i told you that those who wasted time in college are 3x more likely to be unemployed? That got your attention, didnt it?

To find other ways skipping class can hurt you, check out the True Cost of Skipping Class infographic.

Best Credit Card Sign-Up Bonuses for Summer Travel

One of the best ways to make this year’s summer vacation easier on the bank account is to take advantage of some lucrative credit card sign-up bonuses. By simply signing up for a new credit card and meeting a reasonable spending threshold within the first few months, consumers with good credit scores could rack up more than $500 in free travel awards to use this summer!

Not sure where to start searching? D

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Retirement 101: Traditional IRAs vs. Roth IRAs

Though Roth IRAs permit tax-free growth and withdrawals, they’re not necessarily the best choice for everyone. To help decide between any tax-deductible and tax-deferred plan, such as a Traditional IRA and its tax-free Roth version, consider your current tax bracket and your expected tax bracket at the time you plan to withdraw the funds:

  • If you expect your tax bracket at withdrawal to be roughly the same as, or higher than, your current tax rate, you should probably choose the Roth version of the plan.
  • If you expect your tax bracket at withdrawal to be significantly lower than your current tax bracket, you should probably choose the standard tax-deductible/tax-deferred version of the plan.

Though helpful as a general guideline, this rule of thumb doesn’t apply to all situations. Eve

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Should you borrow from your 401k to pay tuition?

Most financial advisers will suggest keeping your retirement funds for retirement, though sometimes they can be used if youre in a pinch. If youre seriously considering if this is the right move for you, keep in mind the the pros and cons of tapping your retirement fund:

  • Convenient/quick way to get the funds you need
  • If you borrow you pay interest to your own account, not to a bank
  • Borrowed funds are not taxed
  • Fees and penalties for withdrawal
  • Withdrawals may count as ie and actually decrease a students eligibility for federal aid
  • If you borrow from your 401k, any outstanding funds may need to be repaid to the account within 60 days of terminating employment at apany
  • Youre depleting your nest egg
  • Interest on student loans is tax deductible up to $2,500 unlike 401k loans
  • Parent PLUS loans are federally funded loans that parents may take out on behalf of their student.

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The Best Payment Options for Travelers

Anyone who travels regularly knows the amount of time that goes into preparing a successful trip – setting up the itinerary, making travel arrangements, researching things to do, etc. But if financial matters are neglected, trouble could arise when youre the least prepared to handle it. Emergencies or unexpected contingencies can happen to anyone. But by planning for the most common financial emergencies, youll have peace of mind in knowing that youre fully prepared.

It wasnt that long ago that cash was king and the safest way to handle your money while traveling meant purchasing travelers checks. Sold by banks and financial institutions, the purchaser had to sign when buying the checks and again when using the check to purchase goods or services. While this

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Can Anyone Really Deny The Real Estate Bubble Any Longer?

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Ok, I know I am not exactly breaking any news here, but if there are still people out there that believe Canada’s metropolitan centres are not in the middle of a large housing bubble, then I wish to tell them I have joined the ranks believers.  I should first qualify my statement a little.  I think it is a misnomer to say that “Canada is experiencing a housing bubble.”  Instead, it is more accurate to say that our biggest centres (namely Vancouver and Toronto) are experiencing a severe real estate bubble.

Homes in other areas are probably fine.  For example, I live in the prairies, and with all the natural resource extraction going on, combined with some of the most profitable circumstances for farmers in decades, I assume home prices will continue to rise at a healthy rate.  If you l

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Citi® Platinum Select® Card Review: Staying True to its Roots

While a lot of great credit card offers seem to be getting watered down or pulled from the market altogether these days, it’s nice to see at least one card offer staying true to its roots.

The Citi® Platinum Select® Card has always been known for one thing in the credit card industry—an awesome 0% introductory interest rate on both purchases and balance transfers. It’s never had an annual fee either, which is of course a big benefit. However, there’s really not much else that’s super exciting about the card.

It doesn’t boast a lucrative rewards program, high credit limits, or exceptionally low interest rates (11.99% to 21.99%) after the promotional period is up. But that’s no

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