Chances are that if you have student loans, you need every bit of extra cash that you can get. Did you realize that your student loans might be able to generate some cash for you? Under certain circumstances, you may be able to save on your tax bill by deducting the interest that you pay
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Medical identity theft is an increasing concern for Americans. According to the Identity Theft Resource Center, 27.9% of 2018 data breaches as of mid-June are in the Medical/Healthcare category, exposing almost 3 million records – second only to business data breaches. Why is medical identity theft so desirable to thieves? Not only does it allow
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How long have you been searching for your new home? The latest Housing Trends Report from the National Association of Home Builders (NAHB) suggests that you’ve been looking for a while and may be getting frustrated in the process. You may be coming down with the homebuyer’s blues. Potential homebuyers are being squeezed in multiple
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Taxpayers tend to shy away from taking the home office deduction, assuming that they will be targeted for increased scrutiny from the IRS. That is certainly possible, especially if your deductions are unusually large – but if you truly were entitled to the deduction, why wouldn’t you take it? You may feel that you have
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Have you missed enough credit card payments that your creditor has contacted you about your debt? If so, you aren’t alone. According to survey results from the February 2019 PYMNTS.com Financial Invisibles Report, almost two in five (36.3%) respondents had been contacted by a creditor regarding an outstanding debt. How did many of them resolve
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The Internal Revenue Service (IRS) budget has been cut by $2.5 billion from 2010 to 2018, and it now has 22,000 fewer employees than it did in 2010, making IRS customer service challenging, to say the least. The IRS subjected 8.8 million taxpayers to “courtesy disconnects” through the 2015 tax-filing season that ended in mid-2016.
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The Premium Tax Credit (PTC) may sound like it is a credit only available to top-tier incomes, but it is actually quite the opposite. “Premium” in this case refers to health care premiums, and the PTC is a way to help those with relatively low incomes to afford health insurance premiums and avoid the potential
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We’ve all heard the scary statistics of identity theft. In the last year: An estimated 16.7 million people were victims Identity theft cost Americans $17 billion (compared to a whopping $21.8 billion in 2012) The Federal Trade Commission took 371,061 reports of identity theft in the U.S., including 133,015 reports of credit
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When it comes to dealing with risk, America’s housing market struggles with balance. How can lenders offer affordable home mortgages for more Americans and still maintain proper safeguards? The Great Recession was driven in part by overly risky loans that were packaged as securities and sold to investors who were unaware of the underlying risk.
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You don’t have any financial issues to hide from your partner … do you? According to a new survey from CreditCards.com, almost 1 in 5 of us does. The survey found that 19% of Americans have at least one financial account that they hide from their spouse or live-in partner – either banking or credit
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By Sandra Parsons Debt is a major barrier to financial well-being among Americans. While we tend to think of debt as an issue affecting young and middle-aged people, the truth is that senior citizens carry debt, too. Among seniors approaching retirement, debt can be an obstacle to maximizing savings. Retirees living on a reduced income
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Are you having trouble getting a date? Could be your rap, your looks, or your excessive debt. According to a recent survey by Finder.com, 72% of respondents say they would re-think a relationship with a partner in significant debt. (That’s similar to the percentage in last year’s Finder.com survey, so don’t expect debt to
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Survey Suggests Economic Overconfidence If the economy is so great and unemployment is so low, why do so many Americans live paycheck to paycheck? And why don’t we seem to care? The February PYMNTS.com Financial Invisibles Report attempts to answer these questions, noting, “For three consecutive quarters, consumers have been optimistic about their financial futures
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After the 2017 announcement of the Equifax data breach that potentially compromised the personal information of almost 150 million consumers, you’d probably expect Congress to take significant action to prevent future breaches. To date, you’d be wrong – but that may change with a Democratic House eager to address consumer protection issues. The Consumer Financial
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First-time homebuyers face many obstacles, but perhaps the most frustrating one is accumulating down payment money. Traditional loans require a 20% down payment. Using Zillow’s $229,800 median home sale price for November 2018, that’s over $45,000 – and in many urban markets, a 20% down payment will easily top $100,000. How long will it take
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Like most Americans, you probably want to get through your taxes as quickly as possible. For the 2018 tax year, fewer of us will itemize, and those who do may find fewer deductions available due to the Tax Cuts and Jobs Act of 2017 (TCJA). However, do not rush through your return so quickly that
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Valentine’s Day may be one of the few times per year that you go out and buy fresh flowers, but that is no excuse for rookie mistakes. The gift of flowers is a reminder that you are thinking of someone and February 14 is an excellent opportunity to send this message. Make that gesture count
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Are credit scores a mystery to you? Do they seem like random numbers generated by bureaucrats armed with dartboards and Ouija boards? A new survey by CompareCards.com finds that 37% of Americans have no idea how their credit score is calculated. Worse yet, another 14% wouldn’t indicate whether they knew how their credit
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