Are you afraid of paying too much interest on your student loans? Student loans are one of the biggest debt traps you could fall into. Particularly if you are uninformed about the whole process and, as a result, make easily-avoidable rookie mistakes. According to a report by LendingTree, the era of taking student loans without any financial risks is long gone and students are drowning debt without knowing how to avoid the situation in the first place. In 2008, 69 percent of students took student loans with an average debt of $29,800. A five-figure loan can easily turn into six-figure...
A New Generation of Money Management
What is Persistent Debt? How does it Affect You?
Have you been making the minimum payments while paying your monthly credit card bill? If the answer is yes, you may be setting yourself up for a huge debt in the next few years. Credit card companies are clever. They know that college-going students and youngsters don’t know how the credit card bills are calculated. Hence, these innocent folks are more likely to fall in the trap of minimum or low payments and overtime develop a persistent debt. No matter how luring the low-interest rates might seem to you, if you default even once, you will end up paying a...
How Much to Tip When Traveling?
Until now you would have had to pay up to 20 percent of the total bill as a tip. Maybe you never considered how the tipping policy is influenced by the culture in a particular country. The purpose of this post is to help you save money that you otherwise would spend on unnecessary tips while traveling abroad and also within the United States. How much to tip when traveling within the United States? In the United States, it is customary to tip people working in service industries like restaurants, bars, taxi cabs, hair salons, etc. Most people tip 15-20...
3 Reasons to Shop at Costco
As of March 2019, there are 770 Costco stores worldwide. Out of 770, 631 stores are located in the United States and Canada itself. It is growing at a rapid rate and soon will be able to compete against other megastores like Walmart and Target. For a frugal person, there are plenty of reasons to shop at Costco. However, to make dramatic savings, you need to become a “gold star” member of Costco which costs just $60 per year. Is a Costco membership worth it? Will it help me make some remarkable cash savings this year? There are two types...
How to use a 529 plan to pay for college?
The cost of college tuition fee has been steadily increasing since the year 2010. Be it K-12 or graduation, the cost of education is so high that it can weigh you down and put you in serious debt. But, that does not mean you cannot provide proper education to your kids. Applying for various government programs designed to help you save and pay for your kid’s education will put you in a better financial position than others who continue to ignore such benefits. A 529 is a savings plan designed to help you pay for your kid’s education. Commonly used...
How to Pick a Travel Insurance Policy
International travel is a lot different than traveling within your own country. There are a lot more hassles involved. You could end up in deep trouble if you fail to address a few important factors suggested by travel insurance experts. This post will help you pick the right travel insurance policy for your next trip abroad. Here are a few points you need to consider before you pick travel insurance. 1. Are you going to be traveling frequently? For frequent travelers getting an annual travel insurance policy can turn out to be a fantastic bargain. A lot of businesses require...
7 Genius Ways to Travel the World when you’re Broke
Thinking about traveling the world? But have no money in your bank account? Don’t worry. You can still travel the world and have an awesome trip even when you are currently broke. Here are 7 genius ways to travel the world when you’re broke 1. Try island hopping Island hopping is a newer way of travel that many backpackers are trying out in Europe and Asia. You can a lot of money or even can travel for free with Island Hopping. Instead of buying a direct plane ticket to your desired destination, try to cross the ocean by a series...
5 Things to know before Adding a Spouse to a Deed
So your spouse moved into your home and you want to add her to the deed? A lot of people impulsively decide to add their spouse to the deed. So, if something unexpected happens, she can claim the house or your assets. This is a great idea if you really trust your spouse and have other more valuable assets under your name. But this asset is the only valuable thing you have, then you should be careful before adding your spouse to the deed. Here are 5 things to know before adding a spouse to a deed. 1) Are you...
How to Make Money Teaching English in China
It only takes 2-4 working days for a US citizen with a valid passport to get a Chinese visa. To get a visa, you need to apply for an entry visa through the Chinese Embassy or Consulate General. However, to work as an English teacher in China. It is recommended to apply for a job before entering the country. You can easily do so by mailing your resume to several English schools of your liking. Moreover, a US citizen does not require a visa to visit adjacent countries like Hong Kong, Singapore, and Macau. So, you can also try your...
The 5 Best Travel Reward Credit Cards 2019
Getting a travel reward credit card is the quickest way to manage your finances while on the road. Everyone has their own reasons to travel. Some do it for business while others for pleasure. But, you always end up spending more if you don’t keep a track of your expenses. A travel rewards credit card not only helps you keep track of your spendings, but also provides you compensation in the form of reward points. That means you get certain points for every dollar spent using the credit card. Every credit card company has a different yearly reward and APR(Annual...