Consumer Articles
These articles are presented as part of the "Take Charge America®" Educational Series. We have assembled numerous short articles than can help you with your finances and lifestyle. To view any individual article, click on the title.
HOUSING CRISIS PROGRAMS
The home-mortgage crisis in the United States has spawned problems in the mortgage, real-estate and banking industries, and many consumers now face mortgage-payment increases in the coming months that could cause the number of foreclosures to climb even higher. Here are two valuable resources for consumers in need of help with their mortgage situation...
IDENTITY THEFT
The FTC estimates that as many as 9 million Americans have their identities stolen each year. This is often done to commit fraud, theft or other crimes. It can destroy a person’s credit and ruin their good name. It can also cost a lot of time and money to fix...
PAYDAY LOANS AND CASH ADVANCE STORES
As the cost of everything continues to rise, many people are finding themselves running out funds before their next payday. Some are turning to payday loans or cash advance stores just to make ends meet. However, many people are not aware of the total cost of payday loans...
SHORT SALES
As many people continue to struggle to make their mortgage payments, they are considering all options that may help them get out of their home. With the drop in home values, one of these options is a short sale or discounted payoff...
CHECKED YOUR CREDIT REPORT LATELY?
Most lenders today automatically contact one or more credit bureaus in the area where you live before approving your loan. Credit bureau reports show most (if not all) of your credit transactions for at least the last 7 years....
CHOOSING THE RIGHT CREDIT CARD FOR YOU
All of us are bombarded with credit card offers today regardless of what debts we already owe. Sometimes the temptation is almost irresistible to sign up and add another piece of plastic to your purse or wallet. True, financial experts...
HIGH-COST LENDING
Most of us have been offered or have used credit cards. We probably have also received installment loans from a bank or other lender to buy automobiles, furniture, and appliances, and perhaps have even managed to secure a home mortgage...
FINANCING A COLLEGE EDUCATION
I. THE CHALLENGE. The challenge of getting ready for college today has become a growing problem for many students and their families due to: A. Growing enrollments and greater numbers of student applicants pressing against limited college...
YOUR RIGHTS AS A CONSUMER OF FINANCIAL SERVICES
I. BORROWERS TOO HAVE RIGHTS. Many people who borrow money believe that all of the rights and advantages of a loan contract go to the lender of funds. Certainly lenders have significant rights as they must have to be able to secure...
CREDIT CARDS: ADVANTAGES & DISADVANTAGES FOR THE CONSUMER
I. WHAT ARE CREDIT CARDS? A form of money (instant spending power) that provides both the capacity to buy goods and services (i.e., carry out transactions) and the capacity to borrow funds (i.e., gain access to credit). II. A BRIEF...
DEPOSIT INSURANCE IN THE U.S. - SOME OF THE THINGS YOU NEED TO KNOW
I. EXACTLY WHO INSURES WHAT FOR WHOM? A. Types of insurance plans in use today: 1. The U.S. Government accumulates a fund by making assessments against insured banks’ annual deposits. When a bank occasionally fails, and unless a healthy...
BUYING A HOME
I. INTRODUCTION. Buying a home is one of the great dreams that Americans have passed down to their children from generation to generation. For more than 50 years, American presidents from...
BUYING INSURANCE IN TODAYS WORLD
Insurance: Financial protection against personal loss has become a must for nearly everyone in today’s world. States require automobile insurance protection for those licensed to drive on their highways in case the driver of a vehicle...
YOUR INSURED DEPOSIT
Most of us believe that a government-insured deposit in a bank, credit union, savings and loan association, or other depository institution is among the safest places to park our hard-earned savings. And that is generally true,...
INTERNET BANKING: IS IT A GOOD DEAL?
Banks and other depository institutions by the busload are going on-line with their services. Not long ago the federal banking agencies estimated that more than 3500 depository institutions have active web sites. Most of these sites...
JOB UNCERTAINTY AND BORROWING BY INDIVIDUALS AND FAMILIES
There is an old relationship between borrowing and jobs that most economists would probably swear by. When the prospect of unemployment rears its alarming head, individuals and families typically will borrow less or perhaps not at...
SEARCHING FOR THE BEST JOB FOR YOU
The strong job market today creates lots of work opportunities. When the unemployment rate is low many employers are understaffed and need help. The 1990s have been one of the best periods...
WHAT’S THE BEST WAY TO PAY?
If you are about to pay for an item you've just purchased, what's the best way to pay? By check? Using cash? Whipping out a credit card? Using a debit card? This simple, but important question reminds us that in every purchase there...
HAVE YOU EVER BEEN TURNED DOWN FOR A LOAN?
Being denied access to credit is one of those unpleasant experiences almost everyone has run into at one time or another in their lifetime. Maybe you wanted to buy a car and your friendly banker said "no" or you applied for...
SHOPPING FOR A NEW VEHICLE
I. ALMOST EVERYONE WANTS TO BUY A NEW VEHICLE SOMETIME DURING HIS OR HER LIFETIME. Unfortunately, a brand new vehicle often runs between $20,000 to $30,000 or more today, requiring care and attention – doing your homework to get the...
PREPARING FOR A SATISFYING RETIREMENT
I. GETTING READY. Getting ready for your non-working years is one of life’s greatest challenges. Indeed, so great is that challenge that it takes nearly a lifetime of work to be fully prepared for those years when you may no...
RETIREMENT INFORMATION? WHERE CAN YOU GO?
About to take the plunge into those retirement years you've been dreaming about? Or, perhaps you're still a long way from retirement and want a road map of how to get there? Check out the Federal Deposit Insurance Corporation’s wonderful...
ARE YOU PLANNING FOR RETIREMENT?
Most of us are so busy these days that the thought of retirement - of enjoying long stretches of time we can call our own - seems like an impossible dream. But it isn't! As the song says, we can "reach the unreachable star" with just...
SOCIAL SECURITY: A TOP-RATED GOVERNMENT AGENCY TAKES ANOTHER POSITIVE STEP FORWARD
The Social Security Administration (www.ssa.gov), was set up in 1935 to provide an income "safety net" for people retiring or unable to work due to disabilities, is one of America's top-rated government programs. A recent survey, known...
STARTING YOUR OWN BUSINESS
I. ADVANTAGES OF OWNING YOUR OWN BUSINESS. A. Become your own boss. B. Greater personal flexibility in choosing your own schedule. C. Quicker reaction to problems and opportunities than with larger and more complex businesses. II. DISADVANTAGES...