Have you been pinched for cash lately and thinking about taking out a car title loan? Well, essentially, this is one loan you to which you just want to say no. A car title loan could be a fast way to wreck your finances.
Did you realize that car title lending is a $5 billion a year business? That’s right, 5 billion dollars per year. You see, car title lenders make money by charging very high rates of interest, and I might add, triple digit interest rates.
The latest figures that we have from The Center for Responsible Lending show that the car title lenders who are operating in 21 states in America cost borrowers $3.6 billion in interest and another $1.6 billion in loans. The principal balance on those loans was repaid to those title lenders.
Learn more about how Car Title Loans May Wreck Your Finances in my article on AARP.org.
When you look at eating healthy as an investment in your health, you’ll soon realize that you may end up saving a significant amount of money on healthcare costs over your lifetime. However, many people overestimate how much it actually costs to eat healthy and miss out on the opportunity to improve their health and overall well-being simply by making better food choices. With a little planning, you can eat healthy while keeping costs to minimum. [continue reading…]
Q: My wife and I are preparing our taxes ourselves this year. We have over $1000 worth of medical co-pay expenses but we can’t get these expenses accepted. What should we do? [continue reading…]
Now that tax season is upon us, it’s even more important to be vigilant about the latest tax scams and fraudulent activities that could lead to identity theft. The Internal Revenue Service has announced its annual ‘Dirty Dozen’ scams for the 2014 tax season and encourages taxpayers to pay more attention to their finances and tax-related activities during peak filing season.
Here are the ‘Dirty Dozen’ tax scams you need to watch out for this year: [continue reading…]
You may have heard about the rise of Bitcoins in today’s digital age and they are quickly becoming a popular alternative to cash and credit card transactions. Bitcoins are a legal form of currency as long as they are used for legal purposes. Even though they do not exist in the physical world, they hold value on the Internet and are assigned a digital code. The concept was created in 2009 and ‘Bitcoin’ is the term used to describe a method of payment used in a transaction. However, there are some distinct differences between paying with Bitcoin versus PayPal, credit cards, or other payment methods.