Keyword Exclusive - Online finance help
by: Robin Roenker
Supplement to �Kentucky Living's 2010 Finance Guide�
USEFUL WEBSITES
LIVING DEBT FREE
GOOD, BAD, AND IN-BETWEEN:
What your credit score means
USEFUL WEB SITES
The Internet is an endless source for information about savvy saving, investing, and budgeting strategies. Here are just a few suggestions to get you started:
www.cfp.net
The Certified Financial Planner site offers tools to locate a CFP in your area, articles on how to choose a CFP, how to report a complaint, the financial planning process in general, and other general finance articles. For easy navigation to the topic you need, click on �Site Help.�
www.finance.yahoo.com
Yahoo�s personal online finance offers a wide range of information on investing and personal finance.
www.financialeducation.citi.com
Financial information and tools for individuals, businesses, corporations, and government, from Citigroup Inc. and multiple Citi business.
www.daveramsey.com
Dave Ramsey, a personal money-management expert, an extremely popular national radio personality, and the best-selling author of The Total Money Makeover, offers financial advice.
www.howstuffworks.com
HowStuffWorks, a subsidiary of Discovery Communications, is an online source of credible, unbiased, and easy-to-understand explanations of how the world actually works. Type �personal finance� in the search box.
www.investopedia.com
An online dictionary to financial terms and other articles on finance from Forbes.
www.kfi.ky.gov
The Kentucky Department of Financial Institutions site. Click on �Public Resources� then �Investment Help� for links to free, helpful PDF booklets offering tips on The Basics of Investing in Stocks, Maximizing Your Retirement Investments, Where to Invest Your College Money, and more.
www.kentuckyliving.com
Kentucky Living magazine maintains a Web archive of all the previous Money Matters columns and Smart Money, the new column title. Just go to the Article Search box and type �Money Matters� or �Smart Money� for links to the last 10 years� worth of financial columns.
www.kysaves.com
Kentucky�s official 529 state-sponsored education savings plan, Kentucky Education Saving Plan Trust (KESPT), created to help Kentucky families save after-tax dollars for future college expenses.
www.money.cnn.com/pf
From CNN and Money and Fortune magazines, business news, market information, and personal finance.
www.mymoney.gov
The U.S. Financial Literacy and Education Commission provides financial education resources for all Americans.
www.savingforcollege.com
An Internet guide for saving for college with information on state-sponsored 529 college savings plans. The site also provides free access to tools and calculators and financial aid information. Additional �premium content� is available for a fee.
www.suzeorman.com
Suze Orman, a personal finance expert as well as television host, author, and motivational speaker on finance.
www.wife.org
Financial information specifically for women from the Women�s Institute for Financial Education. Topics include finance, divorce and widowhood, taxes and retirement, and family.
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LIVING DEBT FREE
Dave Ramsey, Suze Orman, and other national personalities have made headlines promoting ways to get out of debt and stay there. Ramsey suggests hard-core tactics to stick to your budget�including establishing envelopes of cash to pay for various monthly expenses and avoiding credit cards altogether. And he suggests working to pay off all debt by tackling the smallest balances first.
Kelly May of the Kentucky Department of Financial Institutions says use whatever method of bill paying that works for you�ether cash in envelopes, a debit card, a checkbook, or a credit card (paying off the balance each month). The key is keeping up with where your money is going. Don�t spend more than you earn. And pay your bills on time.
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GOOD, BAD, AND IN-BETWEEN:
What your credit score means
700 and above: Excellent / Very Good Credit. You are considered a low credit risk by institutions and would generally qualify for the lowest interest rates and repayment terms.
680-699: Good Credit. You will usually be approved for loans with favorable terms.
620-679: Reasonable Credit. You are a moderate credit risk, and while you won�t usually be refused credit, you will not be able to borrow at the best rates.
550-680: Poor Credit. You may have to shop around to find a lender willing to approve an application for you, and your loans will be quite expensive.
Below 550: Very Bad Credit. You are considered a high-risk customer and will have difficulty finding lenders. You will have to look seriously at some strategy of �credit repair.�
Source: www.creditscorescaleguide.com
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To read Kentucky Living's 2010 Finance Guide that goes along with this supplement, click here: Kentucky Living 2010 Finance Guide
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