Dear, Field Problems:
My husband is in the Army, and we have a lot of credit card debt. It is a struggle to pay them each month along with other bills. Any suggestions on the best way to deal with our credit card debt so we have some financial freedom?
Concerned Army Spouse
When it comes to buying a house, it’s no secret that credit scores matter. The higher your scores, the easier your access to the most sought after mortgage terms and interest rates.
To be sure, you don’t need sky-high credit to land a home loan. That’s especially true for VA home loans, which tend to feature more flexible and forgiving credit standards. But a solid credit profile can help maximize your budget and your buying power.
Here’s a look at three common mistakes that can hurt your credit, along with some simple yet concrete solutions.
Every year we say, “We aren’t going to over do it. Our kids have everything, and way more than most. Let’s have a small Christmas.” Does this sound familiar to you?
And every year, we fail. Some years are worse than others. Ultimately, after the opening of the presents is over, I end up surveying the scene and remarking to myself, “What have we done?!” There were years where the kids opened so much stuff, six months would go by before they even finished unpackaging or playing with something they received.
My husband and I are committed to living debt free. For us, this means that even during the Christmas season, we don’t use credit cards or loans to purchase anything. Not even for the reward points that some companies offer on lines of credit. Still, we’re able to provide a nice holiday for our family.
So, how can you enjoy the holidays and remain debt free?
On this week’s empowering episode of Army Wife Talk Radio, we’re chatting with JJ Montanaro, one of our good friends from USAA, about Survivor Benefits.
Nowadays, we’re doing everything we can to save money on our bills, especially our monthly utility costs that can skyrocket during both winter and summer months, in most cases. When it comes to saving electricity, many Americans are switching to more energy-efficient LED bulbs, which can last a whopping 25 times longer than traditional bulbs and use 75% less energy, according to the energy.gov website.
One of the main goals of a parent is to prepare your children for adulthood.
To that end, few lessons are as useful as learning how to handle money. Many of us learned those lessons the hard way. By educating your teens on family finances, you can pave the way for their success.
You’ve likely heard how important credit is when borrowing funds for a large purchase. It helps to think of it like this: They are a package deal, like tape to wrapping paper. If the tape isn’t strong, the wrapping paper won’t hold.
Creative examples aside, building and maintaining a strong credit score is one of the best financial moves you can make. Creditworthiness plays a vital role in any large purchase, and if you plan to make a major purchase in your lifetime, such as a vehicle or home, you’ll need to know what affects your credit and how to keep your credit in good standing.
First, I’d like to apologize for my lack of a new month’s resolution last month. PCSing from Alaska to Kentucky took a little bit longer than I had planned, and then once we got here, we had issues with internet service. Not to mention the truck of stuff to unpack! I’m not exaggerating—it was 11 crates. Still under the weight limit, though—good thing yarn doesn’t weigh a lot.
But now that 90% of everything is in its place, the internet is up and running (unlimited internet, you guys!), and the kids are back in school, I’m ready with another resolution—taking charge of finances.
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