While understanding different types of debt isn't always easy, making an effort might help you achieve your financial goals sooner. Labeling debt as "good" or "bad" can help clarify which type of debt you could pay off over time without negatively affecting your finances. Hint: The purpose of the specific debt you have plays a role in whether it can be classified as good or bad. Examples of Good...

Last year's record high temperature in Colorado of 115 degrees Fahrenheit was recorded at John Martin Dam. Whether you live near the dam in southeast Colorado or another area of the state, trying to stay cool during the summer months can put pressure on your air conditioning unit and your wallet. Outdoor entertainment, family vacation plans, and even everyday living may cause you to spend more...

Sticking to a budget is key to achieving financial goals like paying off credit card debt or saving for a down payment on a home. But unless you have a plan for your money, it will seem to make a plan of its own. While it's easy to see how a budget can help you take charge of your finances, continuing to follow that budget for more than a month can be incredibly challenging. If counting every...

You already know that potential creditors, like mortgage lenders and credit card issuers, review credit history reports and credit scores as part of the loan approval process. They want third-party confirmation that you repay debt obligations consistently. But why would an employer, landlord, service provider, or other company who is not extending credit want to look at your personal financial...

Waiting until the perfect time to start building your savings nest egg could be costly. If you'd like to retire one day, or at least work less than you do now, a nonexistent or irregular savings habit will eventually bite you in the wallet. On the other hand, starting your wealth-building journey early could mean you only need to set aside a small, consistent amount each month - and let compound...

Credit surprises have the potential to creep up on you if you aren’t careful. Your history of on-time bill payment and low account balances were good practices, but a few missteps could have consequences that go well into next year. Here are five ways you might be setting yourself up for a credit nightmare without realizing it. Sharing your New Line of Credit Sharing your good credit with someone...

It doesn't matter whether you recently completed your last semester of high school or plan on graduating from college in a few weeks, gaining financial independence from your parents isn't always easy. But if you expect to live like an adult, there are actions you can take today to make your transition to adulthood less stressful for everyone. Here are five ways young adults can become financially...

If your weekends are busy with virtual walkarounds or at-home test drives, but this is your first time hearing the term VIN (pronounced "vin"), you might want to put the brakes on used car shopping. Auto manufacturers assign a VIN (vehicle identification number) to every car. It's made up of 17 unique letters and numbers that could unlock a car's troubled past, preventing you from purchasing a...

If there's one decision you should make early in the homebuying process, it's whether you want to buy a newly constructed home or an existing one. They both have pros and cons, but a disadvantage for one buyer might very well be an unexpected bonus for another. Consider these five factors before deciding whether an existing home or new construction is the better choice for you. Design Older homes...

Congratulations! Your child received their first college acceptance letter. Hopefully, there will be several more to follow. But with each letter comes worry — How are you going to pay for their college education? Whether or not you set money aside for this expense over the years, you likely don't have enough to pay for four years of tuition, books, supplies, and living expenses. The Free...