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You’ll have rent and utilities to pay, possibly a car loan, and student loans if you used them. That’s more than enough for a 20-something person, just out of college, to think about each month. Credit Card Companies Love College Students College students are a credit card company’s prime prospect. (If you haven’t seen the documentary Maxed Out, watch it before you step foot on campus.) They like to get you while you’re young for a couple of reasons....

Depending on where you live and what stage of life you are in, getting an apartment can be tough. If your landlord has an income requirement that you can’t meet, or your credit history is not long or strong enough, a co-signer may be a way to get your foot in the door. Why Get a Co-signer? You may need a co-signer if you’ve applied for an apartment but can’t qualify on your own....

But what if you’re still single, and those kinds of life changes aren’t yet on the horizon? You may assume that you don’t need the legal protections a will can offer but there are several important reasons to consider drafting one. Last Will and Testament The primary function of a will is to outline your wishes with regard to who will inherit your assets when you pass away. That can include things like a home you own, investment and bank accounts or your car....

Getting a mortgage isn’t always easy, though. On average, around 7% to 14% of mortgage applications have been denied from 2018 to 2020 depending on the type of mortgage. Here are some common reasons your mortgage application might be denied, and what you can do to prevent it. What Happens in Mortgage Underwriting In order to make a decision about whether to approve or decline your mortgage application, lenders take a close look at your financial situation and the home you want to buy....

After months of waiting for short sale approval, the last thing buyers want to hear is that their mortgage lender can’t perform. The mortgage loan officer might shrug shoulders and suggest, “Hey, get an extension on that short sale.” Spoken like a mortgage loan officer who has little experience with short sales. Controlling the Closing Date Lenders are used to calling the shots for home buyers. In a transaction that is not a short sale, the buyer’s lender pretty much controls the entire transaction....

In the survey, conducted by the New York Fed every four months, people under 45 said the minimum salary they would accept for a new job had risen 10% between March and July, climbing to an average of $68,655—the highest since at least 2014, the report released Monday showed. By contrast, workers over 45 demanded a slightly lower so-called “reservation wage” averaging $60,168 in July compared to $61,261 in March....

Learn which states have the highest tax rates, no taxes, and flat taxes; and see a complete list of tax rates for every state in the union. Top Income Tax Rates by State Below, you’ll find the top 10 states with the highest income tax rates. Other states have a top tax rate, but not all states have the same number of income brackets leading up to the top rate....

1. Make Sure Your Debt Payoff Plan Is Realistic It’s impossible to stick to a debt payoff plan that was never realistic, to begin with. If you’ve overestimated the amount you can pay or underestimated the amount of time it will take, you might be tempted to throw in the towel. The plan you start out with may not work for your entire debt journey. Readjusting along the way will ensure you have a plan based on your changing financial situation....

1. How Long Will You Be Without a Car? It’s a pretty important question. If you are in between cars for just a short time, you should definitely keep your car insurance intact. Most states penalize drivers for going without car insurance for any length of time, which means that when you go to purchase car insurance again, you will be labeled as a high-risk driver and you will be charged at a higher rate, just because you do not have an active policy....

There are a variety of business options that you can do that really match your skills and interests. If you open a business similar to what you do for your job, you will need to make sure you are not violating any competition agreements and see if there are rules about taking clients with you so that you do not run into problems later on. If going back to school for an additional degree is not a good fit, consider going back to get additional certifications for your current field of work....

Here are eight simple but effective ways to cut back on your expenses and increase savings. 1. Put any Bonuses Into Savings There’s no better feeling than finding $20 in an old jacket pocket or while you’re cleaning out your car. Instead of pocketing that cash and potentially losing it a second time, pay yourself first by automatically depositing it into your savings account. You can do that with larger amounts too, such as your tax refund or a year-end bonus....

Forever is an exceptionally long time, even for a buy-and-hold investor like Buffett, but his statement raises the question: “Which stocks are worth holding forever?” Buffett’s answer to that question was released in the Berkshire Hathaway 2019 letter to shareholders: “We constantly seek to buy new businesses that meet three criteria. First, they must earn good returns on the net tangible capital required in their operation. Second, they must be run by able and honest managers....

You won’t know for sure until the employer gets back to you with a job offer or rejection. Until then, you will be in limbo, wondering whether you will have to keep searching for work or can get ready to start a new job. On average, it takes 23 days for the interview process to be completed. So, what can you do while anxiously waiting for a job offer? Here are nine tips to keep in mind when waiting for that call or email....

It’s a legal agreement people often use to plan ahead for the possibility of becoming mentally incapacitated or so that the burdensome probate process can be avoided when they die. When you die, a living trust can act like a will, even replacing the need for one. One type of living trust can shelter assets from taxes, creditors, or legal liability. All living trusts are either revocable or irrevocable. They are created and go into effect while you’re living....

But there are benefits to buying a short sale that people don’t think about. Most people tend to concentrate on the drawbacks of buying a short sale. Also, there are plenty of reasons to not buy a short sale, the biggest problem being the waiting period. It takes too long to get short sale approval. However, if you can get over the hurdle of the waiting time, and you can live with the fact the short sale might get denied, you may be a perfect candidate to buy a short sale....

Bank statement loans are a type of loan that allows you to get a mortgage without the documents that most loans need to prove your income. They are also known as “self-employed mortgages” or “alternative documentation loans.” Bank statement loans can be used if you work for yourself or own a business. They can also be used if you do not have a steady income or have more than one employer who can prove your salary....

Know Your Income All budgeting starts with knowing your monthly after-tax income, also known as your “take-home” pay. Getting a complete picture of where your money comes from will help you create the foundation for setting your spending and savings goals. Begin by identifying how much money you can expect to bring into your household each month. Income may come from multiple sources, including your regular paycheck, a side hustle, child support, or government benefits....

Unlike traditional job interview questions, behavioral-based questions focus on what you’ve done in previous jobs, not what you would do in hypothetical situations. The idea is that your past behavior will provide insight into your future decisions, should you land the job. To prepare for a behavioral interview, you’ll need to familiarize yourself with the interview style, discover as much as you can about the company and the job, and learn a technique for answering behavioral interview questions....

Political science majors study how laws are made and the comparative structures of governments across the world. They learn how public policy is formulated and the impact of policy on the social and economic status of the populace. Career Choices for Political Science Majors In addition to jobs in politics, there are many other career options to consider. Political science majors develop strong writing and research skills. They discover how to make a convincing argument and back it up with facts....

As with nearly all things job search-related, a little preparation is a good idea. Plan to arrive at a job fair with a list of questions you can ask recruiters. In addition, take the time to prepare a brief elevator pitch so you’re prepared to introduce yourself to recruiters as you make your way around the room. How To Prepare To Attend a Job Fair Before you attend a job fair, review these tips for attending a job fair, including what to wear, when to arrive, and how to follow up afterward....