What the Bankruptcy of NBA Superstars can Teach us All

It is hard to imagine that NBA players should worry about bankruptcy after this summer. The signing of Timofey Mozgov started a trend of stunning contracts for not-so-great NBA players. The Lakers agreed to pay $64 million dollars to someone who scored a total of 7 points in this year’s finals series. That’s nearly $10 million per point!

While NBA players got hefty paychecks this summer, they must learn from their predecessor’s financial mistakes. According to Sports Illustrated, approximately 60% of NBA players go bankrupt after 5 years of their retirement. Whether you were lucky enough to be an NBA player this summer or just an average American, here are 4 tips you can follow to avoid bankruptcy.

Talk About Money Before Saying “I Do”

What does an outdoor country club, a lakefront residence, and a rustic castle all have in common? They each make for a picturesque wedding venue and you may just find yourself as a guest at one of these places this summer. With wedding season upon us, it is important to pause and think about the financial implications of saying, “I do.”

Get Over the Dog Days of Summer Sports – Save Money at the Ballpark

With the dog days of summer sports upon us, and the Summer Olympics ending Sunday, sports fans are becoming more and more desperate for something to watch. While it can be frustrating to be watching MLS soccer on primetime, summer also means great baseball deals. Unlike tickets to other sporting events, the lengthy MLB season gives you lots of opportunities for ballpark savings.

Bill Pay and Credit: Everything You Need to Know

People lead busy lives, and paying bills is just one more thing that gets put off until the last minute. No one likes paying bills, but we all grit our teeth and do it… eventually.

Unfortunately, paying bills on time is a lot more important than people realize.

Mortgage Rates and Homeownership: Down Together

Mortgage rates have hit an all time low, yet homeownership continues to dip in the United States. One would assume that lowering borrowing costs would increase the number of homeowners. However, homeownership has continued to decrease in spite of low borrowing conditions. How have these seemingly contradictory metrics followed the same downward trend in recent years?

The Fed and You: How Interest Rates Affect Your Personal Finances

The future of the ‘federal funds’ rate does not only carry important consequences for Wall Street, but it also affects you too. Before the momentous decision taken by the British people to leave the EU, interest rate hikes appeared to be on the horizon for Janet Yellen and the Federal Reserve. However, uncertainty has returned after Brexit, as an increase in interest rates is now very unlikely in the near future.

But if and when a hike comes, what does it mean for you and the millions of others who don’t work on Wall Street?

Banks Earn a Ton in Credit Card Fees: Here’s How to Avoid Them

Credit cards are very lucrative products for banks. Despite numerous laws passed to regulate credit cards over the last several years, issuers still generate over $200 billion in credit card fees and interest each year. But many people, especially those who consider themselves money savvy, never pay a dime to their credit card issuer. Here’s a breakdown of where that money comes from, and how you can avoid paying more than you should.

How to Pay Off Student Loan Debt After Graduation

With graduation day and commencement now in the rear view mirror for many, it is important that new college graduates start thinking about their financial future. That means don’t delay on tackling any student loan debt you might have accrued.

After graduation, you may be beginning your first full-time job, renting an apartment, or even purchasing your first vehicle. Either way, you will now be faced with a new monthly bill – your student loan repayment. While some parents are pitching in to manage the payments, not everyone has that luxury. According to a recent survey conducted by the student loan division of Discover Financial Services, 52 percent of parents said they are likely to help their child repay student loan debt in 2014, down from 58 percent the previous year.

In 2015, the average recent college graduate had $35,000 in student loan debt and the 2016 projection is only going up. The college graduation student loan debt is projected to increase 5.7% to $37,000, according to Mark Kantrowitz, a financial aid expert at Cappex.com.

While paying off your student loan debt can be overwhelming, here are a few tips to conquering your student loan debt.