MoneyWisdom Blog

Choosing the Right Student Loan

Posted by Hanscom Federal Credit Union on Jun 17, 2019 10:00:00 AM

Do you have plans to pursue a higher education degree? Let’s face it, an education at a college, career program, or graduate school is expensive. Most students need some kind of assistance, and navigating the student loan options available can be difficult. Here is a quick overview of the best current options for new college students and their families.

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Topics: Debt, College

5 Big Mistakes Even Smart People Make With Credit Cards

Posted by Hanscom Federal Credit Union on Mar 30, 2019 1:39:24 PM

Despite the popularity of credit card accounts, it’s easy to for holders to make mistakes that can cost them money. These are the top blunders to avoid:

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Topics: Money Management, Debt, Credit Card

Do You Have Too Much Debt?

Posted by Hanscom Federal Credit Union on Mar 29, 2019 1:05:45 PM

How do you know if you have too much debt? Whether or not you have too much debt is not always easily determined. However, there are certain signs that indicate that you are indeed experiencing some major financial trouble. It is important to be able to recognize these signs and to watch out for them in order to avoid the severest forms of financial trouble: bankruptcy and foreclosure.

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Topics: Money Management, Debt, budget

Reduce Credit Card Debt FAST in 3 Easy Steps

Posted by Hanscom Federal Credit Union on Jan 29, 2019 10:09:00 AM

A $2,000 balance on your credit card – how did that happen? (Oh yes, dinner at Chez Fifi, new tires, school clothes for the kids…) Thankfully the minimum payment is only $38. You can afford that!

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Topics: Money Management, Debt, Credit Card

The 3 Things You Must Do with Your Student Loans

Posted by Hanscom Federal Credit Union on Jan 16, 2019 5:21:00 AM

The job market looks good for new college graduates. Last year's college graduates entered the strongest job market in over a decade and good news for 2019 graduates -- employers plan to hire 16.6 percent more new graduates than they did last year. And if you chose a hot field of study, you may have several offers to choose from after graduation. That’s great, because before you know it, you'll be repaying the loans that helped you get your degree.

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Topics: Debt, College

4 Ways to Manage Medical Debt

Posted by Hanscom Federal Credit Union on Jan 5, 2019 7:12:00 AM

Unfortunately, when you get sick or injured, getting better is often not the only concern. Even if you have health insurance, hefty medical bills can hang over your head like an ominous rain cloud. Many people feel that they have no choice but to ignore the bills or eventually file for bankruptcy. However, these are not the only options. There are many ways you can make paying your medical bills more manageable.

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Topics: Money Management, Debt, Financial Wellness

A 9-step Plan for Dealing With Unexpected Job Loss

Posted by Diana Burrell on Jan 3, 2019 6:17:00 AM

Job loss ranks as one of the top stressful events we encounter during our lives, right up there with a death in the family, a serious illness, and divorce. It not only can crush you emotionally and wreak havoc with your self-esteem, it can devastate you financially, especially when you're unprepared...and let's face it, most of us are caught short when we're handed a pink slip. The financial impact of job loss is probably the toughest challenge to face during this time, so it's critical to develop a plan that reduces as much financial stress as possible. Here are nine steps to take when you're facing unexpected unemployment:

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Topics: Debt, budget, Work

5 Steps to a New Financial You in 2019

Posted by Hanscom Federal Credit Union on Nov 30, 2018 7:24:00 AM


Holiday shoppers have been careful each holiday season to make their lists and check them twice. Budgets have become more discerning, and savers have become better planners for their holiday spending, prioritizing savings along the way.

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Topics: Money Management, Debt, Credit Card

Why You Should Avoid Car Title Loans

Posted by Diana Burrell on Sep 19, 2018 9:19:00 AM

When 21-year-old Ryan learned a friend needed some cash to help his mother out, Ryan did what a good friend would do…he lent his friend the money. The problem arose when Ryan’s father, John, found out how his son had gotten the money.

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Topics: Debt, scams, Loans

The Difference Between Bankruptcy and Insolvency

Posted by Diana Burrell on May 23, 2018 1:43:39 PM

I was with a friend recently who was telling me about a family member whose finances were circling the drain.

“She’s got no savings, her credit cards are maxxed, she’s getting calls from creditors all day long …she’s bankrupt.”

“I’m sorry to hear that,” I said with some sympathy. “At least now that she’s filed, the calls should stop.”

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Topics: Debt

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