Financial Literacy Blog from Sanyika Calloway Boyce
Financial literacy blog for teens and adults from the Financial Fitness Coach Sanyika Calloway Boyce
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- Wed, 23 Aug 2006 20:05:51 GMT
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- Social Security, Pensions & Personal Responsibility
As I look back on 2005 I cannot help but be struck by the irony of how poorly the richest nation in the world handles its money. While the strained social security system moved into its seventieth year of existence, many corporate giants yanked the security of pensions from their employees, and the personal savings rate of Americans was paltry at best.
Fri, 30 Dec 2005 21:02:55 GMT - Communication: The First Step To Better Credit
The holidays can be a tough time for many people, especially those who tend to over compensate for what they lack by spending more of what they don't have. Inevitably the New Year rolls around and you're left holding the empty bag. The first few months of the year tend to be the toughest for those who have spent too much, but 2006 will be particularly challenging for many as the minimum payments due on credit cards balances will be increasing upwards of four to five percent.
Tue, 13 Dec 2005 03:24:10 GMT - Privacy Violation or Public's Right To Know
According to a Federal Trade Commission Consumer Alert, "Employers often use a credit report when they hire and evaluate employees for promotion, reassignment or retention." To some that might seem like "big brother" is watching just a little to close but in the wake of Enron, numerous other corporate scandals and post-911 employers are learning that they can tell a lot about a job candidate and their probability to be a quality employee by their credit report and...
Wed, 19 Oct 2005 19:04:34 GMT - Bankruptcy or Bust
As a former debt strapped college student who contemplated filing bankruptcy - I was doing it for all the wrong reasons, and had I been able to scrape up the money to do it I would have but the lessons I needed to learn about being financially responsbile would not have been learned or lasting. Many years later, I'm grateful that I didn't do it and I now understand how companies have to absorb bad and irresponsible debt which inevitably cause interest rate and price increases; in my case...
Mon, 17 Oct 2005 19:01:24 GMT - Financial Fundamentals Equals Financial Freedom
As a parent it can be a bittersweet experience to watch your child grow up knowing inevitability that they'll leave the nest and be out on their own. Right? Well not so fast; because without the right financial foundation they may be back on your couch and asking, "what's for dinner?" before you know it. Preparing your child for the realities of life on their own should start early and be discussed often to ensure they (and you) have the resources necessary to sustain themselves...
Wed, 05 Oct 2005 01:57:34 GMT - Financially False Urban Legends
There is a reason for the old adage, "Oh what a tangled web we weave when first we practice to deceive." The messes we can get ourselves into when trying to get out of something are often the stuff good jokes are made of. It almost never fails, after one of my financial literacy workshops an audience member who has made many of the mistakes I suggest they avoid will say to me, "I heard that if I just... then I could avoid..." Whenever I hear the famous last...
Tue, 04 Oct 2005 23:36:42 GMT - Credit Where Credit's Due
Establishing a credit good credit history and solid credit score can be challenging on its own, but what happens when you've had some rough patches that seem to bring your credit score down and keep it there? Finally there is an alternative for individuals who have proven to be consistent when paying for basic bills not often reported to credit agencies. So, if you've made regular rent, electricity, phone bill, cable, alimony or even child support payments according to the terms...
Tue, 04 Oct 2005 23:01:27 GMT - Increased Gas Prices Equal Increased Credit Card Use
It's estimated that the average American has about a three percent "cushion" in their budget for things to go wrong. That sure doesn't leave much wiggle room for real emergencies like a busted transmission or extended time off from work. But who knew that skyrocketing gas prices would be the cause of such pain to the American consumer? Sure gas prices in other countries are higher (and have always been) then we're used to paying - which is no consolation to us right now; but...
Fri, 30 Sep 2005 22:02:25 GMT - Get Smart About Money
Who taught you about money? How to spend it, keep it, manage it? Do you have a clear answer? If you're like most of us you didn't have a formal introduction to money. You came to know about it through trial and error you just sort of figured it out along the way. Whether applying for a credit card, completing a rental application, pulling your FICO score, balancing your checkbook or planning for retirement most of us are functioning at an elementary level although based on our age...
Fri, 23 Sep 2005 21:51:47 GMT - College Students Are Failing The Most Important Course of All - Money 101
"We've got to do better by our students," this is the thought that comes to my mind as I flip through the newspaper and land on an article I've been quoted in about yet another college student who has gotten good grades but a failing credit score. I know first hand the struggles that come when you're book smart, but credit stupid and the reality is that far too many of our 20-something, soon to be college grads aren't prepared to pass the test of handling money, credit and...
Mon, 05 Sep 2005 22:16:31 GMT
