Tag Archives: Debra Avara

Money Talk Monday: Investing is no simple task

Can you explain investing and the stock market like I'm five? Or at least like I'm a new college student? Wow - that is a loaded question. And the simple answer is no. Investing in the stock market is not something to be done lightly. You must start by learning. Read more [...]

Money Talk Monday: Smart debt pays off

Is there such a thing as "smart debt"? Is it really better to buy the big stuff on credit than to pay cash? If not, how do you build your credit without getting into massive debt? Yes, there is such a thing as smart debt. Most financial advisors say that smart debt is anything that can help you financially. Read more [...]

Money Talk Monday: Only take what you need

If I've already taken out student loans, what can I do now to help me get ahead of the debt once I graduate? Very good question. The thing about student loans is that many students are taking them simply because they were told they qualify for them. Read more [...]

Money Talk Monday: New law gives dependents access to credit

By Debra Avara


Released in the Sunday morning paper, an adjustment to an old law went into effect Nov. 4.

Passed in 2009, the Credit Card Accountability Responsibility and Disclosure Act, aimed in part of keeping young adults out of credit card debt, also required credit applicants to have an income to qualify.

This adjustment now requires credit card issuers to consider household income, not just individual income. This will allow dependents, including college students still on their parents taxes as dependents, and stay-at-home spouses (and those with similar arrangements), access to credit cards, as long as their parents/spouses are credit-worthy.

Coming just in time for the holiday shopping season, they suspect credit card companies, stores and card holders will make good use of this change.

Please do not go overboard and charge, charge, charge. Suze Ormans’ rule of thumb – if you can’t pay if off in two months time, you shouldn’t be putting it on a charge card. Check your budget and see what you can afford. You don’t need to impress anyone. Stay true to your budget.