As educational costs continue to rise, many students find themselves borrowing money from student loans in order to come up with the cash they need to pay for expenses. These loans can be used to pay for college tuition, room and board, fees, books and other necessary items. When borrowing money for college, students have two different types of federal student loans that they can access: subsidized and unsubsidized. What are the differences between these two types of loans? Which... Read more
The Federal Reserve System, also known as “the Fed,” is the Central Bank of the United States of America. On December 23, 1913, President Woodrow Wilson signed the Federal Reserve Act into law. The Congress created the Federal Reserve in an effort to stabilize the nation’s monetary and financial systems. Nearly a century later, the Federal Reserve has responsibilities in four major categories: • Monetary policy – Influence money and credit throughout the economy to support stable prices and full... Read more
In a perfect world, we’d pay for everything we buy with cash so that we won’t be in debt. And to the extent that you can do this, I’m in favor of it. The reality for a lot of us, however, is that our largest purchases are usually made with credit. For instance, buying a home, buying a car, or paying for a wedding may require some form of credit. People with good credit save tens of thousands of dollars... Read more
You’ve probably heard the term “ETF” before, but what does it mean? More importantly, how does one use ETFs within their investment portfolio? Let’s explore ETFs and see if they’re right for you. What is an ETF exactly? An ETF is an “exchange-traded fund.” This means that it is an investment fund traded on stock exchanges. They can be traded much like stocks and can hold a variety of different assets such as: Bonds, Stocks, and Commodities. Why Should You... Read more
Do you ever wish that your child would have learned the alphabet like the title of this article? As a teacher for nine years, I can tell you that I have had very few money talks with my kids while at school. I talk more about money now than I ever have before and I’m a music teacher! But if there’s ever a chance where I can throw in the word “budget” or discuss my opinions of credit cards then... Read more
According to a 2009 study The State of Our Unions done by Jeffrey Dew, a professor at Utah State University, couples who reported disagreeing about finances once a week were over 30% more likely to divorce over time than couples who reported disagreeing about finances a few times per month. There’s a reason the phrase ‘Til Debt do Us Part’ has become so popular today. It’s because consumer debt erodes marital satisfaction over time for newlyweds. Don’t believe me? Take... Read more
The Bible is clear on tithe (the word tithe itself means ten percent), and that tithing is one more step towards obedience to God. The important thing that people miss about tithe is: God doesn’t need your money. It is important to understand that tithing is more a demonstration of where your heart is, and that is what God cares about. Matthew 6:21 “21 For where your treasure is, there your heart will be also.” Defining “Poor” It is difficult... Read more
What is Value Investing? Value investing is an investment philosophy that was created by a man named Benjamin Graham. This philosophy involves buying stocks that seem to be underpriced based on fundamental analysis. What this means is that just like most of us who look to buy cars for less than its manufacturer’s suggested retail price, value investing is all about buying stocks at a price that’s less than their true value. Why is Value Investing Relevant Today? I’m sure... Read more
We all like free things, right? But if you’re like me, you probably wonder what’s the catch when you hear that something is free. When it comes to financial products and services, there’s almost nothing that’s really free. So when I hear commercials and websites offering free credit reports, and free credit scores, the first thing I do is to check with the FTC to make sure that it’s not a scam. When it comes to checking your credit report... Read more
A contributor for Money Crashers Personal Finance, David Bakke lives in Atlanta with his family and focuses on topics like frugal living, smart spending, and giving back. Marital problems seem to arise or become exacerbated when communications about money break down. When you’re in a committed relationship, at some point in time you must have a serious discussion about how you plan to spend and save money. This “money agreement” establishes guidelines and may include some concessions. Here are some... Read more
Faith and Finance
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