Danger Signals of Excessive Debt

Barbara O’Neill, Ph.D., CFP®, Rutgers Cooperative Extension, oneill@aesop.rutgers.edu

According to Webster’s Dictionary, debt is defined as “the state of owing.” Most commonly, the word debt is used in reference to money that is owed to various creditors as in the case of debt incurred through loans and credit cards. How do you know when you have taken on too much debt? Take the following quiz to determine whether you are using credit wisely or getting in over your head.

father and child

Circle …

Cultural Differences in Handling Credit

Cultural Differences in Handling Credit

Barbara O’Neill, Ph.D., CFP®, Rutgers Cooperative Extension, oneill@aesop.rutgers.edu

When it comes to decisions about borrowing money and handling credit, the culture of a family, community, and country can have a major influence upon an individual’s behavior. What people are taught to believe about borrowing money and the use of credit can affect their financial decisions and debt payment practices for the rest of their lives. This is especially true when strong family role models or …

Credit Scores: What You Need to Know

Barbara O’Neill, Ph.D., CFP®, Rutgers Cooperative Extension, oneill@aesop.rutgers.edu

If credit reports are like receiving a “report card” in school, credit scores are similar to a grade point average. They are a three-digit number, ranging from 300 (lowest) to 850 (highest), used to measure the risk that borrowers will become delinquent or default on their debt obligations. Credit scores are based upon information contained within credit reports. Thus, consumers will likely have different credit scores from each of the three major …

What You Need to Know About Your Credit Report

Man looking at his credit report

Barbara O’Neill, Ph.D., CFP®, Rutgers Cooperative Extension, oneill@aesop.rutgers.edu

Remember those report cards that told you (and your parents!) how you were doing in school? Maybe you thought those days were over, but they’re not. Every day, millions of people are “graded” with credit reports. The better your “grade,” the better your chances of obtaining a loan or credit card and obtaining lower-cost credit that can save thousands of dollars of interest. Credit information is also used in setting rates for …

Credit Card Rules for Young Adults

Credit Card Rules for Young Adults

Barbara O’Neill, Ph.D., CFP®, Rutgers Cooperative Extension, oneill@aesop.rutgers.edu

teen with packages

There was a time, up until February 22, 2010, when college students and other young adults under age 21 were “easy targets” for credit card offers. In exchange for inexpensive freebies, such as T-shirts, pizza, hats, and highlighters, young adults were actively (and often aggressively!) sought after to sign up for credit cards. “Plastic for pizza” (or some other incentive) was widely practiced. Not anymore.

As …

Advance Directives Case Study 2

Contents


Case Study 2- How do you handle after-death choices? (Organ/tissue donations, autopsy, burial, cremation)

Description

Millie …

Advance Directives Case Study 6

Contents


Case Study 6 – The dangers of making

Advance Directives Case Study 3

Contents


Case Study 3 – The disadvantages of writing your own will.

Description

Eddie, age 70, decides to write his …

Advance Directives Case Study 4 North Dakota Answers

Case Study 4 – The surviving spouse’s share

Answers for North Dakota Residents

The following answers are based upon North Dakota law as of January 2006. The
laws in other states may be different. Laws are subject to change, so please ask
your attorney for answers to specific questions.

1. Assume that Joe and Sarah own their home as community property. If Joe’s will leaves the home to their three children, and he dies before Sarah, the children will inherit

Advance Directives Case Study 5

Contents


Case Study 5 – How much will each heir inherit?

Description

George, a 98 year-old widower, has two children, Alice …