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Len Penzo dot Com

The offbeat personal finance blog for responsible people.

4 Strategies to Help You Avoid Bankruptcy

By Sabado Domingo

Though many people find themselves on the brink of bankruptcy because of massive medical expenses or unexpected job loss, there are others who end up there because of reckless spending habits and a failure to plan for the future. It is all too common ...

Continue reading 4 Strategies to Help You Avoid Bankruptcy

January 7, 2021

5 Ideas for Tackling Debt If You Retire with a Mortgage

By Delan Cooper

According to the Employee Benefit Research Institute, outstanding mortgage balances among the elderly have risen by 142% in the last 20 years. Even if you're not yet elderly and thinking about retiring, this is alarming news. If you're considering ...

Continue reading 5 Ideas for Tackling Debt If You Retire with a Mortgage

December 29, 2020

Quick Advice for the Financial Times You Didn’t Plan For

By Sabado Domingo

At some point in life, everyone has hit some rough financial times. Sometimes, these financial problems are brought on by the ignorance of youth, other times they are brought on by coincidence, and they can even be caused by catastrophes beyond your ...

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December 23, 2020

5 Things Nobody Tells You About Being Poor – And for Good Reason

By Len Penzo

I'm sorry, folks, but I'm just a little surly right now. I just finished reading an article at Cracked that my son showed me entitled: 5 Things Nobody Tells You About Being Poor. Apparently, the piece was written by a self-professed member of ...

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December 14, 2020

Caught Ya! My Teenager’s Sly Attempt to Get His Own Credit Card

By Len Penzo

Last month we found a letter in our mailbox from Discover credit cards that was addressed to my teenage son, Matthew. Now why would Discover be contacting my son? You know, the mere thought of a credit card in my 14-year-old son's hands really ...

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December 7, 2020

6 Ways to Avoid a Holiday Debt Hangover

By Mikey Rox

The holidays come with a host of stressors, the most Xanax-inducing of which is perhaps overspending. Sure, we make our lists and check them twice, but we're still human. Sales, discounts and deals are flashed furiously before your eyes while you're ...

Continue reading 6 Ways to Avoid a Holiday Debt Hangover

December 1, 2020

12 Good Reasons Why You Should (and Shouldn’t) Use a Credit Card

By Len Penzo

When I was a kid I used to have a Ouija board. Thankfully, my nerdy friends and I were never possessed by evil spirits while conjuring up our dead relatives to see how they were doing (they're fine, thanks); or getting answers to burning questions ...

Continue reading 12 Good Reasons Why You Should (and Shouldn’t) Use a Credit Card

November 30, 2020

10 Red Flags That May Signal You’re In Big Financial Trouble

By Len Penzo

One of my favorite television shows is National Geographic Channel's Locked Up Abroad. Each week, this absolutely fabulous show features the story of somebody who had the misfortune of either getting incarcerated in a foreign prison or kidnapped ...

Continue reading 10 Red Flags That May Signal You’re In Big Financial Trouble

November 23, 2020

Do Payday Loans Have Any Benefits?

By Enero Febrero

Many people take out a payday loan when they have no other way of getting urgent cash. Whether it's a sudden medical bill or overdue rent, payday loans are often the only way to get that financial cushion, short of borrowing from a friend or ...

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November 20, 2020

Time vs. Money: Are You an Unwitting Financial Time Traveler?

By Len Penzo

I have a voracious appetite for time-travel stories. I absolutely love 'em. One of my all-time favorite television shows, The Twilight Zone, devoted at least five episodes to the subject; I wish Rod Serling had written more of them. With that ...

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November 16, 2020

The Ten Commandments of Personal Finance

By Len Penzo

Maybe you heard about that infamous Kelton study that found Americans could identify more ingredients in a Big Mac than the individual Ten Commandments. It's true, folks; 80% of Americans knew there were two all-beef patties in a Big Mac -- but ...

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November 9, 2020

What Can I Do to Improve a Low Credit Score?

By Len Penzo

A low credit score can affect your life in more ways than you might think -- which is why it's important to maintain the highest score possible. If your credit score is less than optimal, here are the most effective ways to help you increase that ...

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October 15, 2020

The Pros & Cons of Freezing Your Credit Report: Is It Really Worth It?

By Len Penzo

The humongous data breach in 2017 by Equifax that exposed the sensitive personal information of nearly 146 million Americans, greatly increased the risk of identity theft and financial fraud for those affected. Most people realize it's a risk that ...

Continue reading The Pros & Cons of Freezing Your Credit Report: Is It Really Worth It?

October 12, 2020

What Should I Do if My Credit Card Application Is Rejected?

By Len Penzo

Nobody wants to have a credit card application rejected, but it happens. If your application was denied, the good news is there are steps you can take that may still put plastic in your wallet. Rule out simple application errors. You rejection ...

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October 8, 2020

Yes, Check Writing Still Has Its Benefits; Here’s Why

By Sabado Domingo

In the old days, people wrote checks for everything from groceries to used cars. Everybody walked around with a checkbook in their purse or back pocket because it was the primary means of conducting transactions. Not any more. Today, most people ...

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October 7, 2020

14 Unconventional Money Moves That Are Smarter Than You Think

By Len Penzo

Life doesn't always turn out as you might expect it to. The truth is, many things in life often defy all sense of logic. For example, there was a time when a reasonable person watching Justin Bieber sing on a city sidewalk for spare change would ...

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October 5, 2020

How Can I Find My Credit Score for Free?

By Len Penzo

Your credit score is a financial report card that tells lenders how risky it is to do business with you. The higher your score, the more likely you are to pay back a loan -- and that means that lenders will be more willing to offer you bigger loans ...

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October 1, 2020

100 Famous Quotes About Debt

By Len Penzo

Let's face it: not all debt is bad. For example, debt is generally okay whenever it's used to buy something that may increase in value. That being said, it's always best to try and keep your debts to a minimum. So with that in mind, here are, in ...

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September 28, 2020

Good to Know: The 5 Criteria That Determine Your Credit Score

By Len Penzo

Your credit score is a financial report card that tells lenders how risky it is to do business with you. Scores range from 300 to 850.The higher your score, the more likely you are to pay back a loan -- and that means that lenders will be more ...

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September 24, 2020

The Best Household CEOs Understand the Importance of Saying ‘No’

By Len Penzo

By most accounts, there are more than 250,000 words in the English language. Of course, I have my favorites. For example, I've always been quite fond of platypus; I smile every time I hear myself say it. For some reason, there happens to be ...

Continue reading The Best Household CEOs Understand the Importance of Saying ‘No’

September 14, 2020

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