I Have a Student Loan With a Company. What Can I Do To Keep This Company From Garnishing My Check and Taking My Federal and State Taxes?
Q: I Have a Student Loan With a Company. What Can I Do To Keep This Company From Garnishing My Check and Taking My Federal and State Taxes? A: It sounds like your student loan is obviously delinquent, and possibly already in default status. When you have such overdue loans, you are subject wage garnishments […]
How Much Should a Single Mom Save?
Q: I am a single mom who makes about $28,000 a year. I try to save around $200 from my paycheck every second pay period each month, but it’s hard. Do you think $200 is enough? And if I want to save more where should I start? A: Even though $200 a month in savings might […]
Can You Afford a Second Home?
Q: Dear Money Coach: I would like to buy a second home for retirement in 5 years. How much house can I afford, what should my down payment be and how can I use the equity in my first home to possibly pay cash for the second home? A: You’ve indicated three key facts to about your finances: […]
Should I Use My Tax Refund Check to Pay Off All of My Credit Card Debt?
Question: One of my readers wanted to know whether or not they should use their tax money to pay off all of their debt, or perhaps some of their debt and put the other half in savings. Answer: Basically, I think it’s not a good idea to use an income‑tax refund check exclusively to pay […]
How to Pay Off Your Mortgage Early
Want to pay off your mortgage early? Learn how extra payments and smart planning can help you pay off a $300,000 loan in 10 years and save thousands in interest.
Advice for the Self-Employed When Business is Slow
Q: I am a self-employed massage therapist in Colorado. I have made over $50,000 a year, but this year is different. My income is down by half, and I owe $9,000 in credit card debt. I eat only when I have the money to eat. I spend nothing more that gas and dog food as extras other […]
How Store Credit Cards Impact Your Credit Score
Q: I am a student at Southeast Missouri State University. About 10 months ago I opened my first student credit card. I eventually got my credit score to 728. In October, I opened an account with a jewelry store in order to buy an engagement ring. I’ve noticed a huge dive in my credit score […]
Can I Close a Department Store Credit Card Without Hurting My FICO Score?
If you’re managing several major credit cards along with department store credit cards and wondering if you should start closing a few, you’re not alone. Many consumers want to streamline their credit without negatively impacting their FICO score—especially if they’re in the 700–720 range. So, can you close a department store credit card without hurting […]
How Long Do I Need to Keep My Business Tax Records?
Q: My understanding was that the IRS could file up to six years later. I have a small business and have been keeping my records six years. What is the current ruling for this? A: Under section 6501(a) of the Internal Revenue Code, the IRS is required to assess tax within three years after a tax […]
Ready to Retire at 63? Here’s Your Smart Step-by-Step Plan
Planning to retire in 2-3 years? Discover essential steps to secure your finances and ensure a smooth transition from your nursing career to retirement.
When a Collection Agency Wants More Than You Can Afford
If you’re dealing with a collection agency that’s demanding more than you can realistically pay, you’re not alone—and you have options. Whether the collector is asking for a lump sum or a payment plan that’s beyond your reach, it’s important to approach the situation strategically. This guide walks you through how to negotiate effectively, protect […]
How Long Do Repossessions Stay On Your Credit Report?
Q: I have a car that was repossessed about 5 years ago. My credit report states that it will report for another year. Is that true that it will fall off or will it be reported by another company. If so, should I try to settle the debt? How long does a repo stay on […]
Should I Do a Short Sale, Deed In Lieu of Foreclosure, or File Bankruptcy?
Question: I live in las vegas. I owe $300,000 on a house that is valued at $150,000 and dropping. What would be the best alternative for me? Should I do a short sale, deed in lieu of foreclosure, or file bankruptcy? At present I am unemployed and can not afford the payments and HOA fees. […]
I have so many bills I can’t afford to save any money. What should I do?
Q: I’m a College student and my soon-to-be husband just purchased our first home. Last year I bought a car and I’m paying for college out of pocket. With so many bills, how can I save? I do have a 401(k) but I’m tired of living check to check. A: Congratulations on your upcoming wedding […]
I am Broke and in College. Where Can I Get Money to Finish My Degree?
Q: I just completed 6 ½ years of school but maxed out my subsidized and unsubsidized loans. I have one class to take to get my college degree, but I have an overdue amount and late fees on my school account. I don’t work and don’t have the money to pay the fees or pay […]