Category Archives: Questions and Answers

Phone Banking with First Credit Union – How to Transfer Funds to Make a Loan Payment

My boss banks with First Credit Union and recently they underwent some big changes in both their online access and telephone access.  So much so that the telephone operators who answer the phone when you call the bank don’t even have the first clue on how to get through the phone tree.  My boss asked me if I would help her figure out the instructions to make her loan payment since when she called the credit union they were unable… Read the rest

Reader Question: Regarding the New Laws with Opting Out of Overdraft Protection

Last week Joseph visited Out of Debt Again and had a question.  I would like to pose this question to the personal finance community to try and answer this for him. Please help with answers in the comments if you can: I have a question regarding the new laws regarding overdraft and debit cards and hope you could either answer my question, or point me in the right direction. Here is the scenario. I recently lost my home, and for… Read the rest
Tightwad Blog

Meet Tightwad from Tightwad Blog

Today Tightwad from Tightwad Blog and I are exchanging question and answer posts. After you read her answers here, go over to her site and read my answers. And while you’re at her site, take a look around and subscribe to her blog! Tightwad, do you do your incomes taxes early or at the last minute? I am very particular about taxes!  I am a receipt hoarder of the highest order and keep an excel spreadsheet that is updated every… Read the rest

We’re Making Double Payments – Why Is the Interest Still So High?

One of my readers, OregonSun sent me an email about a recent loan asking, “We have a loan that is on simple interest.  Even though we are making double the payments, the balance (interest we are paying) doesn’t seem to be reducing the way I thought it would.  Am I doing something wrong?” I asked for a few more details, and said I would take a look. OregonSun says she is her most recent payment was $90.20 and the interest… Read the rest