Author: Joel Hilton

The cards in your wallet may look the same, but there actually are some major differences between credit and debit cards. Understanding the difference between these two payment methods can help you avoid financial issues and even earn some extra money in the process. Application A debit card or check card is, essentially, a digital checkbook. It is tied directly to your financial account. When you make a purchase, it is subtracted from the amount you have. Most banks and credit unions will give you a debit card to access the funds in your checking or savings account. You can…

Priceless weddings can oftentimes end up being, well, pretty pricey. However, it's possible to create a memorable and beautiful wedding without going into debt. Here are some ways to make your big day special without breaking the bank. Building a budget Research the average price of everything you need and want at your wedding. Prioritize your list to determine which elements are most important, what costs less, and which things you can do without. Vetting the venue If you're having a reception, it doesn’t have to be extravagant. Consider an inexpensive location, such as a church hall, the local rec…

Having a lot of money can be a burden. People constantly ask you for it, taxes are more complicated and you need a plan for your wealth when you're gone. If you're looking for ways to avoid becoming rich, here is some advice on how to not become a millionaire. Don't Think Ahead If you're not yet a millionaire, don't make any dramatic changes -- just keep on with what you're doing. Becoming independently wealthy takes effort, so things like writing down your financial goals will only help those who are looking to make their resources grow. And don't set…

In honor of Mother's Day, we asked some local moms about what they teach their children about finances. They also explain some monetary wisdom they wish had been imparted. We hope you enjoy these financial tips from mothers. Penny Dedicate yourself to your education first and find a job in which you can share your best talents -- where you can see and feel the difference you make in others’ lives. Start your retirement planning now and build your deposits as you make more money. Choose your spouse carefully. Look for someone [who] has good saving habits. Put away money…

Whether you're wading into the world of borrowing with a credit card or diving into the deep end with a mortgage, the process can be daunting for someone who hasn't done it before. If you're looking for a lender to meet your financial needs, here are some tips on how to apply for your first loan. Defining the Terms In order to feel comfortable when you apply, here are a few common terms: Principal - the actual amount you borrow Interest - percentage the financial institution charges for lending money Term - how long until you pay it back Down…

Spring has a way of getting us to tidy up our living spaces. Some might be satisfied with traditional cleaning, while others use a home equity line of credit for major renovations. But if you're on a budget and still want to make changes, here’s a list of affordable ways to improve your home. Boost Curb Appeal Add a pop of color to your front door with a bold shade or bright hue, then paint the exterior trim and shutters to match. Modernize your address numbers with a different font, size and color to create personality. Buy a fun new…

We all know reading, writing and arithmetic are three essential building blocks of an education. However, it's also vital to teach your kids financial literacy. Children need to learn how to make informed money decisions to become self-sufficient and contribute to society. Plus, just in case you're hesitant to talk to your kids about money, remember that financial independence will help prevent them from coming back to live with you after they've grown! Promote Active Instruction When children are old enough to say they want something, they're ready to learn about finances. We all form money habits early in life.…

It's easy to purchase a vehicle, but buying a car the sensible way takes a little more effort. Whether you're looking for a new or used auto, at a dealership or from an owner, here are some ideas to make your auto purchase as painless as possible. Set a budget Before you go shopping, figure out exactly how much you can afford. This is the most important part of the process. After all, car payments are a big financial commitment. Consider all your current monthly expenses, including your mortgage, utilities, food, childcare, entertainment, and tuition.  Be realistic and make sure…

Whether you're 16 and just entering the workforce or 66 and can start collecting Social Security, retirement should always be on your mind. Unfortunately, many people don't seriously consider it until later in life. Here are four quick questions you should ask yourself now because retirement is coming later. When should I retire? Just because you could start Social Security at 62, doesn't mean you should retire then. Most people do so between the ages of 61 and 69, but if you apply for benefits before you're 67 -- if you were born after 1960 -- you'll receive a reduced…