Understanding Consumer Rights and Credit Laws
As a consumer, you have rights when it comes to your credit. The federal government implements legislation to ensure credit bureaus, companies, and lenders treat you fairly regarding your credit history, purchases, and loans. Consumer protections regarding your credit are put into place so companies can’t set unreasonable credit qualifications and to make sure your voice […]
How to Live on Social Security Alone in Retirement
Throughout the years you work, you contribute a portion of your income to the Social Security program. When you’re 62 years old and have worked for at least 10 years, you’re eligible to retire and begin collecting Social Security benefits. When you retire and begin to claim these benefits, you can use it as a […]
Everything to Know About Refinancing a Mortgage During Retirement
Whether you’re just beginning to save for retirement or you’re already enjoying your days in retirement, it’s important to understand how much income you need to have in order to stop working. Ensuring you have plenty of retirement income is crucial to remaining financially stable and living comfortably without working. If your retirement budget looks tight, […]
What Is the Congressional Budget Office?
The Congressional Budget Office (CBO) is a federal agency that’s not tied to one political party. Its main job is to assist in analyzing the federal budget and potential legislation that’s being discussed in the House and Senate. The CBO looks into how a new budget and legislation affect the country’s economic future. While it’s […]
What Is Mandatory Spending?
Every year, the congressional budget office, Congress, and the president work together to create a federal budget. Within the government’s budget, money is allocated for net interest on the federal deficit, discretionary spending, and mandatory spending. Within the mandatory spending category, the federal government uses funds to ensure important programs continue to function and assist […]
Can I Make Payments From My Savings Account?
You open a savings account with the intention of storing your money for when you need it. The purpose of a savings account is to keep your money in the bank and allow it to earn interest while still having easy access if you need it. While there are different types of savings accounts, most of […]