Category Archives for Understanding Credit & Payment Cards

How Interest Works When You Borrow Money

In our second mini lesson on interest, we will learn how interest rate and APR work when you borrow money from a financial institution. Interest on Money That is Borrowed When you borrow money, interest is what you are charged for using that money. This means you will end up paying back more than the […]

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What is Interest?

The next three posts will be bite-sized lessons on understanding the financial aspects of interest.  In this first lesson, we will look at what interest is and the difference from an APR. As you learn to manage your money, including both savings and debt, interest will become a big part of your monthly finances. Interest can […]

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Victim of ID Theft? Take These 5 Steps

Do you know what to do if you become a victim of identity (ID) theft? In our last post on this topic, we learned that millions of individuals are victims of ID theft every year.  We also learned that you cannot prevent ID theft but can take steps to minimize your risk. In this final […]

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ID Theft- Can You Spot Identity Thieves?

Identifying an identity thief can be difficult.  Most ID thieves are average men and women.  It can be your roommate, neighbor, family member, friends, co-worker, employer or employee. The number one way ID theft occurs is through family and friends, people you live and associate with. During the next couple of weeks, in a four […]

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How to Pay Your Bills – 2 Convenient Ways

In our last post, we discussed how you should handle past due bills.  In this post, we will discuss two convenient ways to pay your bills. First, let’s be clear. By bills, we are talking about your living expenses and debts.  Examples of living expenses are rent, utilities and transportation costs.  Debts would be payments […]

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