The Sun's Financial Diary

There’s no definitive answer to this question because canceling a credit card will affect credit score in more than one way and the impact could be either positive or negative. To see what I meant, let’s first take a look at how a FICO score is determined. Obviously, there’s no way we can know what [...]

My parents have been retired for a good dozen years or so now.  They’re your typical middle class working couple.  They worked hard for many years.  Always made sure my brother and I had what we needed.  Helped put us both through college as much as they were able.  They’re the textbook definition of a [...]

I feel like lately I’ve been inundated with checking account offers.  I get them in the mail.  I see them online.  They’re all over the business section of the newspaper.  With banks offering up to a couple hundred bucks to open a new checking account, I can see why these advertisements get the responses they [...]

If possible, would you use credit cards to make mortgage payments? As the single largest payment that we have to make each month, I would love charge our monthly mortgage on a rewards credit card if we could. It’s not about having some 30-day delay in paying the credit card bill, because the delay only [...]

ING Direct Kids Savings Account is a better way to teach children about money and saving. A few years ago, when I was quite active on Amazon Marketplace selling books and electronic devices, I opened a savings account at ING Direct for my daughter so that I can save the money from selling those stuff [...]

A while ago, we talked about how free checking may be ending as banks, big and small, adjust their business models after regulatory changes in recent years. The new laws, which essentially changed how banks issue credit cards and collect overdraft fees, are supposed to protect consumers from banks’ predatory practices, but it seems that the new [...]

When people make the decision to dive into the family budget and make some cuts to account for a job loss, new member of the family or just to save a few extra dollars, they usually have the best of intentions at heart. They want to live within their means and be financially responsible. They [...]

Want to not clip coupons, but still save, too? If you already have a grocery store loyalty card, it’s entirely possible and incredibly easy. In fact, it’s as simple as scanning potential coupons online, loading them to your loyalty card and then scanning your card at checkout. No newspapers, no clipping, no carting around tiny [...]