Luke 1428 — The U.S. Department of Education’s Federal Student Aid office lists the penalties that can occur if you officially default on your loan. You officially default when the loan has not been paid on for over 270 days. A couple penalties include: Your account can be turned over to a collection agency, and your credit score can be damaged.
Brian reveals a few good ways you can avoid this financial calamity. What he basically recommends is keeping detailed and precise records. Howard Dvorkin, Chairman of Debt.com, wrote an informative piece about the student loan crisis. You can also find out who is more likely to default on loans.
Making Sense of Cents — If you’re having problems paying back student loan debt or just need some extra money, Michelle can help. Not long ago she earned cash by doing online surveys. She did all the research and found the best, and safest, survey sites. Now you can profit from her hard work.
A survey she “highly recommends” is American Consumer Opinion. You get money for each survey you complete. One thing she suggests is “always be honest when signing up.” Read her comments section, too. There is good advice by other bloggers. You can also profit from these secret habits of self-made millionaires.
Money Talks News — We’ve probably all received the slick offers credit card companies send by mail. The thick and glossy envelopes, the great deals and life-changing possibilities all for the taking. Jeffrey says don’t get too excited. Read the fine print first. That’s where you’ll find the real offer.
The fourth common trick is: “Big bonuses with a catch.” The credit card company may offer airline miles or money, but as he says, there’s almost always a catch. You’ll probably be required to charge a substantial amount on the card. Why charge $1,000 when you’ll only receive a $150 reward? Check out the other tricks and be careful. Check out these articles on the best cashback card and the best reward cards.
Simply Scaled Down — Elise really enjoys her frugal lifestyle. She sees it “as a lifestyle that lets me enjoy the things I have and attain the things I want.” Over the years she’s fine-tuned her frugal habits and has become much better at saving money. Now she’s sharing her secrets.
An interesting way she saves money on shoes is by resoling them. She also has a small wardrobe. There are only 33 items. That includes coats, shoes and purses. “Everything matches” though. She can easily pick out an outfit. And she washes and reuses zip-lock bags. They get expensive and using them once is a waste.
Frugal Rules — Erin understands that we all have bad habits. Some cost more money than others. I fall into the first bad habit: “Smoking/Drinking.” I don’t smoke but I will pay extra money for a good craft beer.
Her second bad habit is interesting: “Fast Food.” Most people think it’s cheap. But if you eat it a couple times a week the money adds up. Making your own meals is cheaper. Erin also believes: “Eating like crap isn’t sustainable — period.” The food trashes your health. Then you’ll be paying off medical bills. Here are five appliances you can use at home and save money.