Tag: Road to Wealth
April 7th, 2011

Q: I would like to do a “spending fast” with a youth council. Do you have any suggestions on how to get the youth to buy into the fast? Denise, Washington, DC A: First, good for you for trying to help young folks manage their money. And, what timing for your question, because April is […]

April 4th, 2011

Q: I have always been told (and everyone I know believes the same) that employee life insurance is the cheapest way to get life insurance. Out of curiosity, I took a look at what I could get privately and was shocked to find private term level life insurance 30% cheaper: $1,138/year for private vs. $1,643/year […]

March 31st, 2011

Q: If you already have a financial judgment against you, can a consumer credit service stop wage garnishment? Elizabethton, TN A: You will see a lot of ads from companies claiming if you give them money–sometimes thousands of dollars–they can help you get rid of a financial judgment. I would steer clear of such claims. […]

March 28th, 2011

Q: Which is better: Buying a car that’s new or used? A: If you’re dying for that new car smell, go to an auto parts store and buy a “new car smell” air freshener. But seriously, I wonder how much thought people give to the cost of buying a new car. The average cost of […]

March 24th, 2011

Q: Does it make sense to create a budget when unemployed? What’s the use? A: I know it sounds crazy that you would have to bother with a budget if you’re broke. But think about it. You actually need to budget more when your funds are limited. Why? A budget forces you to really look […]

March 21st, 2011

Q: I am a single parent of two and primary caretaker of an elderly parent. In 2004, I bought a new home for $650,000. My youngest son decided that he wanted to attend college in Florida. It is a private school, which cost approximately $45,000. I refinanced my mortgage at what I thought was going […]

March 17th, 2011

Q: How does debt negotiation work? Is this a good debt management strategy? Green Bay, WI A: I think what you are referring to are companies that promise to help you settle your debts for far less than you owe. Tread lightly here. Many of these companies are just scams. And those that aren’t will […]

March 14th, 2011

Q: When is a good time to cash in U.S. savings bonds? A: According to information on treasurydirect.gov, it’s important to check your savings bonds periodically to determine if they’re still earning interest, and if they’re not, they should be redeemed. I was surprised to learn that billions of dollars in savings bonds have stopped […]

March 10th, 2011

Q: I owe the IRS about $50,000. I also am in arrears for child support payments. I have about $40,000 in bills, car loan and credit card debt. I’m receiving unemployment insurance weekly. I can’t afford a bankruptcy lawyer or one to handle my IRS problems. Any suggestions? I am in dire need of help. […]

March 7th, 2011

Q: My husband lost his job. He was the main breadwinner. Right now, we are struggling to pay our monthly credit card balances. We are deciding whether to file bankruptcy or find another route for help. This is the first time we are having a hard time paying our bills, and we do not want […]

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