It's Your Money

Fun Around Town with No Money Down

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Lots of free entertainment, culture, and education can be found in Monroe County (aren't we lucky?). Here’s a selection for the upcoming week: Read more »

It's Your Money Radio: Growing Your Money Through Investing

On this past Tuesday's Ins & Outs of Money segment on WFHB, I was joined by Richard Shockley, a Kelley Schol of Business Professor of Finance at Indiana University. Richard explains why—when it's done the right way—investing is an excellent and safe way to grow your money.

You can also listen to all Ins & Outs of Money segments on WFHB online.

Fun Around Town with No Money Down

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Lots of free entertainment, culture, and education can be found in Monroe County (aren't we lucky?). Here’s a selection for the upcoming week: Read more »

Unlock Your Code! Review of The Dollar Code

Do you have too much month at the end of your money? Tried budgeting in the past, but it was just too confusing? Feel out of control of your finances? Jason R. Hastie has solutions for you in The Dollar Code: Get Out of Debt with One Number.

The Dollar Code borrows from the first lesson of personal finance: spend less than you earn. Pretty simple, right? Yet plenty of us have a hard time putting this concept into practice, because we're waging a daily battle against the “have it now” mentality—a mentality reinforced by payday loans, credit cards, and even mortgages. But, Hastie says, we have the ability to take control of our finances—without sacrificing everything we want. 

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Help! My Credit is Broken!

ImagePHOTO: BETSY WEBER

If your less-than-stellar credit has been affecting your life, you should start to repair it. It may seem like a long road, but taking a few painless steps can help get your financial life back on track.

Order a free credit report.

You can order a free credit report once a year at annualcreditreport.com, or by calling 877-322-8228. Once you receive it, make sure the Read more »

Fun Around Town with No Money Down

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Lots of free entertainment, culture, and education can be found in Monroe County (aren't we lucky?). Here’s a selection for the upcoming week: Read more »

What's My Credit Score Got to Do With It?

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PHOTO: V SMOOTHE

What is a credit score, exactly?

A  FICO® credit score is a common way for lenders, employers and insurers (among others) to determine how much of a credit risk you are.  Generally, FICO scores range from 300 to 850; the higher your score, the more trustworthy you are considered. Read more »

To Buy, or Not to Buy? —That Is the Question

House for Sale

PHOTO: MARK MOZ

Buying a house is one of life’s biggest financial decisions. With so much money on the line, it's no wonder so many people are gunshy about settling down. Here are some questions to ask yourself before you start the home buying process. 

How long will you stay put?

If you are only planning on being in the area for a couple of years, it probably doesn’t make sense to buy a house. Buying tends to be a good Read more »

Ready to Grow Your Money? Educate Yourself with These Free, Unbiased Investing Tools

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PHOTO: TAX CREDITS

The idea of investing your money can be scary. We hear so much conflicting advice from investment "experts"—from financial gurus on TV to the friend who boasts about having the hottest stock tips—that we don't know who to listen to.

That's not a bad thing in itself; investing, first and foremost, is about risk, so you're smart to hesitate to jump into something you don't fully understand. But there are varying degrees of risk, and if you can safely set aside a portion of your earnings toward wise investing, it can be an excellent way to grow your money. So how do you learn to invest wisely?

The Financial Industry Regulatory Authority (FINRA), a nonprofit agency authorized by Congress, can help. FINRA provides free, unbiased educational tools for investors on their website—all designed to help you calculate how much risk is safe for you, choose your money-growing options wisely, and protect your investments.

For the rookie investor, FINRA's Prepare to Invest page lays out the minimum level of financial stability you'll want before even thinking about putting any money into the market. Once those basics are covered, you can put your knowledge of key investing concepts and the different types of investments to good use, either with the help of a well-qualified professional or by investing directly online yourself. There are even handy tools and calculators you can use to compare thousands of mutual funds, protect yourself against scams, and even investigate a particular broker's background

While there's no such thing as a risk-free investment, it's good to know that watchdogs like FINRA work hard to provide you with the knowledge you need to navigate the world of finance in the smartest way possible. Total beginners and seasoned investors alike will find lots of relevant information on their website—and knowing it's offered without bias or commercial interest makes it even more valuable.


 

Fun Around Town with No Money Down

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Lots of free entertainment, culture, and education can be found in Monroe County (aren't we lucky?). Here’s a selection for the upcoming week: Read more »

It's Your Money is made possible by a grant from the FINRA Investor Education Foundation through Smart investing@your library®, a partnership with the American Library Association.

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