Ben Edwards's Blog: Money Smart Life, page 9

How Peer-to-Peer Sites Can Help You Borrow Money

One of the most difficult situations you can find yourself in is when have lost your job, or your hours are dramatically cut. In some cases, you might be looking for a way to extend your emergency fund, or get a little help as you look for a new job.

Peer-to-peer (P2P) lending sites can help you borrow money to get back on your feet, and can also be a convenient way to get help from family and friends.

Peer-to-Peer Lending

The idea behind peer-to-peer lending is that you can get help from people...

How to Keep Your Skills Sharp When You’re Between Jobs

One of the hardest things to explain to potential employers is a gap in employment. It’s especially difficult if you have a skills gap. Even if you don’t have a “real” job in your field, it’s important to let potential employers know that you’ve been keeping your skills your sharp, and that you are a valuable asset.

So, as you look for work, you need to do what you can to stay on top of your career. Here are some things you can do to keep your skills sharp when you’re between jobs:

Take a Class...

What You Should Know About Unemployment Insurance

When you lose your job, one of the first things you should do is apply for unemployment insurance benefits if you qualify. This is because unemployment benefits can provide you with a bit of income to help your family along while you are without work.

Even if you have an emergency fund, it makes sense to apply for benefits as soon as you can so that you aren’t putting the entire burden of your family’s income on your emergency fund.

Unemployment insurance is paid by employers; you don’t actuall...

6 Tools to Help You Pay Off Debt and Reach Your Goals

At the beginning of this year, many madefinancial resolutions. One of the most popular resolutions made by Money Smart Life readers, as well as people all over the world, is to pay off debt.

If you want to pay off debt and become financially free, there are a number of tools that can help you reach your goals. From online applications that track your progress to great books that can serve as resources to help you create a plan, you can take control of your financial future and get on the right...

How to Choose the Right Career Coach

At some point in your life, you are likely to need to change jobs. You might need to switch career fields, or you might be trying to move up the corporate ladder. You might even be forced into switching things up due to a layoff. No matter the reason, one of the ways you can advance your career is with the help of a career coach.

Choosing a career coach isn’t a decision to take lightly. You want someone who can help you achieve your goals and improve your prospects. Here are some things to thi...

What to Do if You’re Declined for Credit

Being declined for credit is no fun. It can be demoralizing, whether you are being turned down for a credit card, a car loan, or a mortgage. Here is what to do if you have been turned down for credit:

Find Out Why You Were Turned Down

When you are denied credit, the creditor has to explain why you were turned down. You will receive an adverse action letter soon after you are turned down. This letter will tell you why you were turned down, and include information on the credit reporting agency t...

Socially Responsible Investing for Beginners

Chances are that you feel strongly about certain issues confronting society today. Perhaps you strongly believe in environmental protection. Maybe you think stem cell research is wrong. From support of human rights to opposition to the gambling industry, there are a number of political policy positions to hold.

However, no matter how much support you verbally express for a position, there is a chance that you are undermining the very things that you stand for by investing in a way that gives m...

What to Do After a Layoff

One of the most frustrating things to deal with is a layoff. When you rely on your day job for most of your family’s wellbeing, it can be difficult to deal with a layoff.

It’s important that you take immediate action when you are laid off. Here are the things to do right after a layoff:

1. Find out about your severance package.

Ask the human resources representative about your severance package. With a layoff, you might receive full or reduced pay temporarily. You might also have access to healt...

Vesting: The Achilles Heal of 401(k) Plans

Employer matching contributions are one of the biggest benefits of 401(k) plans. You put moneyin out of your own paycheck to fund the plan, and your employer offers at least a partial match. The catch is that the employer match usually comes with a vesting provision. That’s a period of time – up to five years – which must pass before matching contributionare considereda permanent part of your plan. In this way, vesting may also be the Achilles heal of 401(k) plans. They don’t always pan out.

T...

Are You Prepared for an Emergency?

Snowed in?

Right now, many people across the United States find themselves snowed in. I’ve been fortunate; even though we’re getting snow, it’s not really out of the ordinary for my region, and it’s not causing serious problems.

I live in a mountain valley in the west, so we don’t have ice storms and wet snow. We still have our power, which is something that my husband’s relatives can’t claim right now.

When these types of weather events interrupt our lives, it’s a good time to think about how p...