Financial counseling is assisting clients in the development and creative use of all their resources to achieve economic financial security or well-being by generating alternatives from which the client chooses. Ultimately the client is assisted to improve quality of life with less wasteful resources. The processes are: (more…)

Although bank credit cards are a relatively recent innovation, typically marked by the establishment of the “businessman’s Diner’s Club card” in 1950, U.S. society has historically depended upon the availability of consumer credit. For example, farmers depended on store credit before the harvest of their crops in rural America, whereas industrial workers were issued “script” for purchases in the company store that were later deducted from their wages. Significantly, both forms of consumer credit often produced a form of debt/labor servitude. This common experience was recounted in the famous lyrics of Tennessee Williams, “I owe my soul to the company store.” (more…)

In examining your financial condition and setting financial goals, you succeeded in nailing down where you are and where you’re going financially. But it’s important that you conduct these exercises at least annually. Keep the cash in a checking account, and watch it disappear! Wouldn’t it be better to put all the money you’ve saved on that extravaganza toward financing your child’s pay college education? (more…)

The median price of a home as you read this article was running over $200,000. Don’t forget to throw in maintenance, insurance, and property taxes. To see if you can afford a home, with a mortgage, why not do the calculations that lenders do—before you get in over your head? (more…)

To make the most of your buying power, consider trade-offs. Suppose that you buy a sound system with a credit card instead of waiting until you have saved enough money to pay cash for it. You get the pleasure of having the sound system now. However, you may pay a higher price in the long run because of fees and credit card interest rates the credit card company charges for use of the card. (more…)

Banking in America began in 1791, soon after the United States declared independence. Congress established the nation’s first central bank with eight branches. Today, with more than 11,000 banks, 2,000 savings and consumer credit loan associations, and 12,000 credit unions in the United States, you have a wide array of financial services from which to choose. A trip to the bank may be a visit to an automated teller machine (ATM) in the mall or a quick look at your savings account balance on the Internet. Your choice of financial services will depend on your daily cash needs and your savings goals. (more…)

Paying cash means making some lifestyle sacrifices. However it has a concrete financial benefit: It will keep you from drowning in a sea of red ink on your voyage to the new economic world. But it also has an added emotional benefit: It adds meaning and value to the things you do buy. (more…)

Intuitively, many people know that if interest rates are low is not the time to spare, and if interest rates are high is not the time to invest (at least borrowing). Therefore, people are always outstanding read the newspaper, listen to the news on television and listen to renowned economists to know your views on the future of interest rates. (more…)

Why do so many people have money problems? The main reason is that they do not plan how they will use their money. You can avoid money problems by setting and achieve some clear personal financial goals in mind. (more…)

Do you want to be treated like a VIP when entering a car dealership; and so you can get a pre-approved auto loan easily? The amount of money you could pay for car payment has saved significantly for lower other monthly bills easily. (more…)