Once you have the keys to your home, a new set of financial questions often emerges. You might be thinking about refinancing your mortgage to lower your payments, pay for a big home improvement project, or consolidate other debts. Maybe you’re wondering when the right time to refinance is, how to pay your mortgage off faster, or even what to do if you’re facing the possibility of foreclosure.
Your salary isn't the whole story when it comes to your career's potential. To really get ahead, you need to know how to look at a potential employer, figure out what you’re worth, and negotiate the best possible compensation package. And in a market that can change on a dime, it’s just as crucial to know how to protect yourself financially if you find yourself out of a job.
When you hear the word bankruptcy, you might think of wiping the slate clean entirely. But Chapter 13 bankruptcy works a bit differently—it’s more of a reorganization. Instead of erasing all your debts, you work with the court to create a repayment plan. You’ll have to submit a detailed proposal outlining how you plan to pay things back, complete with a thorough budget. Be prepared for scrutiny, as a judge, trustee, or creditor can challenge your budget if they feel it’s filled with non-essential spending.
I once walked up to a car rental counter to pick up a vehicle I’d reserved for $19 a day. I handed my ID to the smiling agent, who quickly told me, “Hmm. It looks like we don’t have the car you reserved. We have an equivalent, but… you’re a big guy. Would you prefer a roomier pick-up truck instead?”