A review of some options for federal and private loans. Are you dealing with student loan debt? Have you explored ways to try and restructure it or have it forgiven? No one wants to carry five figures of education debt into middle age or retirement, but some do. The burden is not just financial. Last fall, the Madison Capital Times asked student loan borrowers in the state of Wisconsin how they felt about their education debt. Sixteen percent said they were “terrified” of it, and another 30% indicated they felt only slightly less so. Fortunately, you may have possibilities to manage and reduce the debt load and the anxiety it breeds.1 For a better chance of refinancing a student loan, lift y

Behaviors worth changing for the New Year. Do bad money habits constrain your financial progress? Many people fall into the same financial behavior patterns year after year. If you sometimes succumb to these financial tendencies, the New Year is as good an occasion as any to alter your behavior. #1: Lending money to family & friends. You may know someone who has lent a few thousand to a sister or brother, a few hundred to an old buddy, and so on. Generosity is a virtue, but personal loans can easily transform into personal financial losses for the lender. If you must loan money to a friend or family member, mention that you will charge interest and set a repayment plan with deadlines. Better

Take these financial lessons to heart. You have a chance to manage your money better than previous generations have. Some crucial financial steps may help you do just that. Live below your means and refrain from living on margin. How much do you save per month? Generations ago, Americans routinely saved 10% or more of what they made, either depositing those savings or investing them. This kind of thriftiness is still found elsewhere in the world. Today, the average euro area household saves more than 12% of its earnings, and the current personal savings rate in Mexico is 20.6%.1 In 1975, the U.S. personal savings rate hit an all-time peak of 17.0%; it has been below 4% since June. Easy credi

Read this before your new venture starts up. Aiming to start a business? What steps could you take that might promote success and longevity for your company? Here are several. Write a business plan. You will have a tough time attracting an investor without one. Potential hires may want to see your business plan as well. Your plan should establish milestones for your company and include metrics by which you can judge your success. It should detail your revenue model, incorporate an analysis of your competition and the changes that may affect your industry, and contain a marketing strategy. Make sure your business meets legal standards. That means registering your company with your state if ne

Contending with the possibility of widowhood. On average, women outlive their husbands. According to the Social Security Administration’s estimate, the average 65-year-old woman will outlive the average 65-year-old man by more than two years, dying at age 86½. Averages aside, it also estimates that about a quarter of today’s 65-year-olds will live into their nineties. Around 10% will live to age 95 or beyond.1 Eyeing these figures, it is easy to deduce that some women may outlive their spouses by five years or longer and contend with complex financial issues after age 85. There is one detail, however, that all these facts and figures leave out. The average age of widowhood in the U.S. is 59.