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

Reducing Credit Card Debt: 6 Ways

January 11, 2018 1:06 am

Like many Americans, you may be looking for a way to bring down your credit card debt. To help, the National Association of Personal Financial Advisors (NAPFA) offers the following six tips.

Pause some spending. Identify any automated payments that can be eliminated or temporarily paused while you're paying off debt. Consider delaying or reducing large annual expenses, such as vacations or holiday spending, for one year. These temporary changes can help you pay off debt faster.

Reduce your interest rates. Take an inventory of all your credit cards, including the interest rates and minimum payments. Next, call your credit card companies to ask if they will waive any late payments or reduce your interest rate.

Eliminate your most expensive card first. Pay the monthly minimum on each card to avoid fees. Apply any left-over money to the highest interest-rate card first. Once this card is paid off, take the amount you were paying and apply it to the card with the second highest interest rate while continuing to make minimum payments on all other cards. Repeat until you have paid off all your credit cards.

Create a written budget . A written budget will help you stay out of debt in the future. Allocate some of your spending to an emergency fund so that you are prepared if a job loss or health crisis arises. Check in with your budget each month.

Set financial goals and focus on the long-term. What is most important to you? Do you want to save for a home or go back to school? Articulate your goals so you're more driven to reach them. The changes you make in the short term are temporary and purposeful and will help you reach future goals.

Toast yourself. Being debt free is an important milestone that is worth sharing and celebrating. Create a memory – a visit with a friend or a social media post – that you can recall when you are tempted to overspend again in the future.

Source: National Association of Personal Financial Advisors (NAPFA)

Published with permission from RISMedia.


Are You at Risk for Carbon Monoxide Poisoning?

January 9, 2018 1:56 am

Everyone who uses oil, natural gas, liquid propane, or wood and pellet stoves should make sure their heating system has been cleaned and inspected within the last year. If the burning of fuel is incomplete, carbon monoxide gas can form and build up in your home, health experts warn.

Since this deadly gas by-product has no odor or warning properties, a carbon monoxide alarm is the only way to know if it’s building up in your home.

If you have a carbon monoxide alarm, it’s important to test it to make sure it works. If you don’t have one, what are you waiting for?

Be sure to place the carbon monoxide alarm in your living space, preferably close to bedrooms or where you spend the most time. You can also place another carbon monoxide alarm in the basement near the furnace as an early warning signal.

If you heat your home with electricity and use a portable generator or a stationary home backup generator during power outages, it’s very important to have a working carbon monoxide alarm because deadly gas can enter your home around window casings, door frames, and penetrate through outside walls.

Sometimes it's hard to tell if you have early symptoms of carbon monoxide poisoning because those symptoms can resemble the flu. A headache, feeling light headed and sleepiness are common to both illnesses.

If there are people in the house and a number of them develop symptoms around the same time, carbon monoxide gas may be seeping into your living space. The longer you’re exposed, the more dangerous it is.

If not treated quickly, exposure can cause brain damage and death. If you think you may have carbon monoxide
poisoning, get people and pets out of the house immediately.

Once outside, call 911 from a cellphone or neighbor’s house.

Questions about placement of carbon monoxide detectors, warning equipment and battery vs. hardwiring or other technologies should be directed to your local building official or fire marshal.

Published with permission from RISMedia.