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What is the 50-20-30 Budget Rule?

The 50-20-30 Budget Rule is intended to help you budget your after-tax income. The premise of the rule is simple – divide your after-tax income into three categories: 50% goes to “needs,” 20% goes to “savings,” and 30% goes to “wants.” This formula can help individuals plan for unforeseen emergencies or retirement, and can also help avoid credit card debt. Once you have determined your after-tax income, you can start to distinguish which […]

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The Process of Credit Card Debt Settlement

Credit card debt settlement is the process of negotiating with credit card companies to accept less than the total amount of your balance. This option can understandably bring up a lot of concerns and questions for people.

Should I Work With a Debt Settlement Company?

Debt settlement companies are typically for-profit companies that negotiate on your behalf with creditors to reach an agreement on an amount you […]

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How to Use Credit Cards to Build Credit

The amount of credit card accounts you own along with the length and quality of your credit history affect your credit score.  They show your ability to manage your budget regularly over time, even when you’re offered opportunities to go beyond your budget. If you never borrow money at all, it’s difficult for creditors to anticipate how reliable you’ll be when you do.

Credit card issuers report your account and […]