Should I Add My Teen as an Authorized User on My Credit Card?

One of the things we hear most often from people who take the Faith & Money Matters Bible Study is “I wish I had learned this earlier.” It’s crazy that we as parents don’t do a good job of teaching our children financial basics. How to manage money is something that every single person needs to fully comprehend. If you struggle with money, you will struggle in life. Many of us have learned this lesson the hard way.
Dealing With a Mountain of Debt
Debt is a way of life in America–we lived it and were able to escape. We had a huge mortgage on the dream home we designed and built. We had lots of credit card debt, two car payments and no savings. We were living the American dream, and our marriage was on the brink of […]
Stay on Top of Your Credit Report
There are two parts to how companies monitor your use of credit—your credit report and your credit score. A credit report contains information about you, such as the addresses where you have lived. It includes your alias’s–for example using a middle name or initial or a maiden name. It also includes all of your credit […]
26 Weeks Till Christmas
Breaking News … This year … Christmas will be in December! As you probably know all too well, the holiday season can be a major financial drain each year. Many of us don’t budget or plan for holiday spending throughout the year. The result is that Americans whip out the plastic for Christmas spending […]
Don’t Go Into Debt for Christmas
Halloween is just finished and we are getting ready for Thanksgiving. Yet all the big box stores have been featuring twinkle lights and Christmas trees for weeks! We rush from one frantic buying season to another without even thinking about what the holiday is and why we should be celebrating. Unfortunately, this puts a lot […]
Credit Scores and Real Life
A few weeks ago, I was doing research for our podcast and radio show and found an interesting website article about how your interest rate on loans increases as your credit score decreases. It showed a chart that referenced credit scores to the interest rates for new and used car loans. I knew that the […]
How Much Debt is Too Much?
Debt is a way of life in America. Most Americans carry some amount of debt. There is the mortgage, the car payment, medical bills, credit cards, student loans and the money good old Uncle Fred loaned to you. Unfortunately, many people don’t realize they have too much debt until they reach disaster level with their […]
What You Need to Know if You are Buying a Car
After a home mortgage, car loans are the largest debts most people have. More than 70 percent of all the cars on the road are financed. Car debt is one of the biggest roadblocks for people on their journey to true financial freedom. It’s especially dangerous because most people never get out of car debt. […]
Cosigning Can Ruin Your Credit Score!
Many people gladly cosign a loan considering it a favor to a friend or relative. It may seem like a good idea at the time. You think you are helping your child buy their first car. Or maybe your sister wants to buy a house. You may think your only responsibility is to sign […]
Turkey Trot at the Daytona Speedway
The day after Thanksgiving, we took the two teenagers in our life to the Turkey Trot which is held each year at the Daytona Speedway on the weekend after Thanksgiving. It is a combination swap meet and car show with lots of people walking around appreciating the refurbished cars, trucks and other assorted vehicles. Other […]