RE/MAX 440
John F. O'Hara

John F. O'Hara
731 W Skippack Pike  Blue Bell  PA 19422
Phone:  610-277-4060
Office:  215-643-3200
Cell:  267-481-1786
Fax:  267-354-6973

My Blog

High Credit Card Balance? The New Normal

April 19, 2017 12:24 am

It’s no surprise that nearly three quarters of all adult Americans have at least one credit card. What may be surprising, however, is how much credit card debt we’re carrying. A January online poll from the National Foundation for Credit Counseling® (NFCC®) revealed that 56 percent of respondents carry $15,000 or more in credit card debt in their household, while only four percent declare themselves to be debt-free.

Unfortunately, high balances often lead to difficulty maintaining minimum payments and safeguarding your credit score. Before you come close to getting into credit card trouble, learn how to spot these early warning signs from the NFCC and take action:

Check your credit card usage regularly. Keep an eye on how and when credit cards are being used each month. If there is an increase in the number of times a credit card is used for purchases that had been covered in the past with cash, it could be a sign that you’re using credit to fill gaps in your budget. Instead of charging more often, look for ways to cut back to keep expenses in line with your cash flow.

Keep an eye on your balance. Each credit card comes with a credit limit. Your goal should be to keep the balance as low as possible compared to the limit. This makes payments more affordable and helps avoid running the risk of incurring costly penalties for overcharging. Stay out of trouble by paying off balances as quickly as possible, either all at once or by paying more than the monthly minimum payment.

Count your cards. Make sure plastic isn’t taking up too much space in your wallet. Federal Reserve data shows that Americans with credit carry nearly four credit cards on average. Most experts advise carrying less than that. If your number of cards is on the rise, consider consolidating. This makes it less stressful to keep track of payments and balances, which helps make debt management easier.

Source: The National Federation of Credit Counseling

Published with permission from RISMedia.


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Not Your Usual Mom’s Day Gift Ideas

April 19, 2017 12:24 am

It isn’t easy to think of cool Mother’s Day ideas once the days of your hand-scribbled cards are just a memory for both of you – so Country Living magazine editors brainstormed to come up with a few ideas that may just fill the bill:

Cooking in style – If she likes to cook, how about a basket full of trendy (read: expensive) ingredients Mom might never buy for herself – truffle oil, infused vinegar, exotic spices, imported teas. A trip down the aisles of a gourmet cook shop should easily fill your basket.

Luxury skincare – A loofah sponge and a lavish assortment of bath oils, soaps and body lotions may be just the thing to keep Mom happy and relaxed. Wrap them all in a new terry robe and watch her face light up.

A Sunday outing for two – Afternoon tea? A movie or concert? Choose an outing you know Mom will enjoy – and make it just for the two of you!

A chauffeured spa day – Taxi Mom to a local spa for a day of pampering; a leisurely massage, manicure, pedicure and/or facial.

A family brunch – gather up the kids and a few of their handmade gift creations (A photo bookmark? A handmade picture frame? A hand painted mug?)) PLUS all the fixings for a fabulous brunch that can be put together very quickly in her kitchen or yours.

A fix-it day – As people age, they find minor repairs more difficult to make. Ask Mom for a ‘honey-do’ list, and spend a weekend on a ladder and in your toolbox crossing chores off the list.

A planted garden – Indoors in pots or in her yard or patio, plant strawberries, tomatoes, or her favorite flowers – with a firm promise to help maintain them.

A sentimental journey – Fill a memory book with photos of family trips and activities taken through the years. Today, when so many of our photos are in digital formats, an album she can actually leaf through may bring a happy tear or two – and that’s a good thing on Mom’s Day!

Published with permission from RISMedia.


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