Author name: Lynnette Khalfani-Cox, The Money Coach

Lynnette Khalfani-Cox, The Money Coach, is a renowned financial expert, author, speaker, and media personality, empowering people to achieve financial success. Visit her personal website at https://lynnettekhalfanicox.com.

A man sits at a table, looking at a sheet of paper in his hand, the complexity of race and gender issues weighing on his mind, with a laptop open in front of him.

The Impact of Race and Gender On Your Credit Score

Just in case you like to speed read articles, I’ll cut to the chase and tell you that race and gender DO NOT impact your credit score. Many consumers believe a host of myths and misconceptions about their credit scores. Some of the biggest fallacies surrounding this topic involve race, income and other factors that […]

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A desk calendar displaying a month with a red pushpin marking the 7th day serves as a reminder for the looming statute of limitation.

What is the Statute of Limitation for a Student Loan?

After some changes to federal laws in 1998 and 2005, the statute of limitation on student loans has been dissolved (with some very limited exceptions), which means that you can no longer have your student loans discharged when you file for bankruptcy. Many people wonder whether they are eligible for a student loan discharge when

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budget

An Easy Two-Step Process to Create a Basic Budget

Here’s my simple two-step process for creating a basic budget. It’s fast, easy, and anyone can do it. Step 1:  Itemize ALL of Your Expenses Create a list of everything you spend money on—whether those expenditures are weekly, monthly, or yearly. Use different categories to group all your expenses. Examples of common budget categories include:

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financial rebound

I Feel Like I’ve Lost Everything – What Should I Do?

Q: Two years ago I lost my job working at a New York bank making about $85,000 per year. Prior to my layoff,  my financial situation looked something like this: Assets Savings of about $18,000 $60,000 in my 401k A $400,000 house with $170,000 in equity Liabilities A HELOC for $25,000 at 5% A  $488

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lynnette khalfani-cox

How to Make a Budget Work after a Financial Downfall

Whether you had to deal with some unexpected medical bills, maxed out your credit cards to cover expenses, or faced some other type of financial blow recently, it’s time to rework your budget. Managing a budget after a financial downfall can be tricky, especially if you are strapped for cash and used up your emergency

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Credit industry

Is The Credit Score Industry Fair to Consumers?

In my latest book, Perfect Credit, I explained that the credit score industry prefers to work together—without you whenever possible. I’m not saying that they have no need for you or that they don’t want to have some dealings with you. After all, consumers provide valuable feedback and constitute a revenue source. And companies in

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savings and loans

What is a Savings and Loan Association?

Many home buyers seeking a new mortgage turn to a savings and loan association (S&L) instead of a traditional bank to get their loan. Savings and loan association management are financial institutions that specialize in savings deposits and mortgage loans. These institutions typically work with private investors to coordinate funds for a loan. Since these

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A document detailing credit card terms and conditions, with fine print throughout, features a blue credit card and a silver pen placed on top of it.

Reading the Fine Print Can Help You Avoid Being Suckered or Ruining Your Credit Score

Have you ever bought something or said yes to a so-called “deal” only to feel suckered later when you read – or were made aware of – the fine print involved? If you want to avoid getting burned, and especially if you want to maintain a great credit rating, you absolutely must abide by one

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credit cards

All Debt Is Not Created Equally – Why Credit Card Debt Wrecks Your Credit Score

Debt is a massive problem in America. While some people are able to survive in this economy by taking low-interest loans, we have to accept it that we’re up to our eyeballs in debt of all types: mortgage loans, credit card debt, student loans, automobile loans, and more. Even though home values have plummeted, the

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