Commitment Fee

As consumers we want to have fail-safes in the event of a financial emergency. Some people might have credit cards, savings accounts (I wish I had money in mine) or some other form of a line of credit. While these may be beneficial, it can also come with something they call a 'Commitment Fee.' Seeing the word Fee already doesn't sound good, right? You're right and wrong. Let me explain... What is a Commitment Fee? There are actually two parts to a commitment fee. ... Read more

Financial Literacy Month!

Happy April everyone! We are now four months into the year and April also happens to be Financial Literacy Month. What exactly is financial literacy month? I'm going to talk a little bit about the history and what you can do to be better financially prepared. The History It starts back in 2000, when Jump$tart Coalition for PersonalFinance Literacy started to promote April as a month dedicated to education the youth about personal finance. Then in 2003, the United States Senate officially designated April as "Financial Literacy ... Read more

Debt Fatigue

Debt Fatigue Becoming more responsible for one's debt and over all personal economy (a wonderful term coined by team member Kira Thompson) has been on the rise. People are becoming more aware of their spending habits. For some people, they wish they would have cared a lot sooner and might be suffering debt fatigue. Not sure what debt fatigue means? Good, that's what I'll be talking about today. What is debt fatigue I'm going to explain this with a theoretical story. Jane, in this ... Read more

529 Prepaid Tuition Plan

It's well known that the price of education is getting out of hand. I am experiencing this first hand. There are some ways around this: scholarships, saving or financial aid, to name the most basic well known ones. I'm here to tell you about another, the 529 Prepaid Tuition Plan. Tell me more! So, let's dive into the basics of what the 529 plan is. It's a state educational program that assits parents in creating an account which will help pay for their ... Read more

100% Mortgage

Owning a house one day is something I think everyone would hope to do. I know I personally would like too. It doesn't matter if it's a small 2 bedroom house, a mansion or something in between it's your house. It's the sense of accomplishment to achieve that. There is a problem though, what if you don't have any money saved up to buy that house or don't make enough money to save for a down payment? There is something called ... Read more

The End of the World As We Know It

I no longer simply default to buying products and services from large corporate ‘brands I can trust.’ The Great Financial Recession (GFR) brought many changes to businesses, brands, loyalty and consumer power. The one golden rule I have abandoned and I’m sure others have too, is not buying products from the major heavy hitting corporations who convince me to buy through a combination of mass production. and excessive marketing. If I’m not buying from them, who am I getting my products from? Hitting the ... Read more

Actual Cash Value

Most of us, if not everyone should have insurance on their car or homes in case of an accident. Why? Because you don't want to be personally financially responsible if the accident is your fault. If the accident isn't your fault, you get some cash back or what the insurance company calls it "actual cash value." This is what the topic of todays post will be about. What is Actual Cash Value? Actual cash value is the money you get back from the ... Read more

What is the sequestration [Infographic]

What is the Sequestration? The sequestration has been in the press over the past week or so. As this governmental issue is bound to impact a lot of American citizens. $1.2 Trillion dollars are going to be cut from government spending so we don't increase our national debt. This is going to impact a lot of different segments throughout the United States. Take a look at the infographic we made below! Feel free to share this, and put it on your blog or ... Read more

A Valentines day breakdown [Infographic]

Valentines Day The one time of the year that men dread and (most) women love. Valentines day has become a major role in pleasing your significant other on 14th of February. While it shouldn't take a special day to share or express your love for someone, Valentines day is just another excuse to do it more formally and to do it with style. Take a look at this infographic made by us here at Planwise that talks about some funny and sad information ... Read more

Fiscal Cliff Infographic

The Fiscal Cliff refers to the sharp decline in the budget deficit that could have occurred in 2013 due to increased taxes and reduced spending as required by previously enacted laws. Most believed the sharp decrease in the deficit would have likely led to a mild recession in 2013 and increased unemployment. We all know the Fiscal Cliff was averted by the enactment of The American Taxpayer Relief Act of 2012 (enacted in 2013...) but how did we end up in this ... Read more
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