Financial News Features

In an April survey of more than 1,000 Americans by financial adviser website Debt.com, 80 per cent said they have a budget. The survey found that 88 per cent of respondents who budget managed to stay out of debt. Users are not budgeting for minor expenses such as coffee shop runs, but are instead doing so for holidays and special events before time.

Howard Dvorkin, CPA, the chairman of Debt.com, says, “Paying rent with a credit card can either be profitable or dangerous, depending on your [level of financial] discipline. If you always pay your bills on time, then using a rewards card can rack up thousands of extra points per year. But if you carry a balance and sometimes forget to make timely payments, then you’ll end up paying steep interest on top of your steep rent.”

Make certain to stick to AnnualCreditReport.com, cautions Howard Dvorkin, Chairman at Debt.com. “Don’t Google it and click the first few links. You’ll be taken to websites that try to sell you financial services. The only place to get free credit reports is AnnualCreditReport.com,” he says. “Everywhere else is trying to mine your data or sell you something.”

View these lines of credit as a form of emergency cash, to be used primarily for home-related expenses or other emergencies, advises Howard Dvorkin, a certified public accountant and chairman of Debt.com: “Having the ability to pull equity out of your house at any time you want is concerning to me.” Indeed, your home secures this loan, so if you don’t repay it, you could lose your home.

To continue where Stout left off, note that knowledge can also be free if you know where to look. Debt.com’s 12-month self-improvement email course #WeKnowDebt is free of charge. The course gives Americans “a comprehensive breakdown of basic personal finance topics [including] budgeting, savings, interest rates, taxes, and good credit – just to name a few,” said Howard Dvorkin, CPA and chairman of Debt.com. “The course also provides support through a Facebook group for those who sign-up and have questions along the way. Each email lesson in the #WeKnowDebt course is jargon-free and comes with a unique list of resources — along with a ‘Learn this’ and ‘Do this’ section. Anyone interested in making financial literacy a year-long goal can sign up for the free, #WeKnowDebt email course.”

If this happens, it’s important that you do not miss your court date. This is your opportunity to explain to the court why you should not be evicted. Although you don’t technically need a lawyer for this court appearance, it may be helpful to obtain the help of a professional who can help you understand your rights as a tenant and offer suggestions on how to proceed. Many cities offer free legal counsel to those who are facing eviction, according to Debt.com.