The Impact Factor™ Blog

7 Financial Commandments for Millennials

By Holly | May 27, 2014

It’s graduation season! What a happy time. With a huge accomplishment behind you, there are many choices ahead. Whether you are starting a new job or looking for a job, you can create habits now that will help you get ahead of the financial curve. Follow these seven financial commandments so you can look back on your…

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What Percentage of My Income Should I Spend on Housing?

By Holly | March 25, 2014

What percentage of my income should I spend on fill-in-the-blank? This question often comes up when we have a life event such as a change in pay, the desire to make a large purchase, having a baby, or we simply want to get our finances in order. There are basic guidelines for what you should…

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The Student Loan Effect

By Holly | February 5, 2014

Total student loan debt now exceeds one trillion dollars, second in size only to mortgage debt. Think about that for a minute. Who qualifies for a mortgage? Typically adults with good credit, a sizable down payment, and many years of experience making a large payment for housing each month. Who qualifies for a student loan? Almost…

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Quiz: What's Your Spending Personality?

By Holly | December 10, 2013

I came across this quiz in the Institute of Financial Counseling’s Keys to Success and thought it would be fun to share! Is your spending personality costing you hundreds or even thousands of dollars a year? Take the assessment below and find out. It is based on a questionnaire developed by Grady Nash. Read each of the following statements…

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How to Stop Living Paycheck to Paycheck

By Holly | December 4, 2013

If you are like most Americans, you are living paycheck to paycheck. Research released earlier this year by Bankrate.com revealed that more than 70% of Americans have less than six months of expenses saved. And 40% carry a balance on their credit card month-to-month. According to Alfred and Emily Glossbrennor, “paying off credit card debt may…

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5 Things You are Doing that are Keeping You from Becoming Wealthy

By Holly | November 5, 2013

With an average American income – about $50,000/year – you can become a millionaire. Yes, you! What is a millionaire? Simply, it’s someone who has $1,000,000 in assets or liquid money. This can be in the form of equity in real estate, a retirement account such as a 401(k) or IRA, a savings account, commodities,…

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When Should I Teach My Kids About Money?

By Holly | September 17, 2013

A lot of folks ask me when is the best time to start teaching their kids about money. And while there is no perfect answer, middle school (6th-8th grade) seems to be the time kids start developing money habits that can benefit them throughout their life. This is because by this time they understand money…

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Are You Living Your Dream?

By Holly | August 8, 2013

Here I am signing the wall at Qittle’s studio in Greeley, CO just before we went live to film “Share your Story.” See the video here! We talked about student loans, sources for money education, and why I am passionate about teaching personal finance. Most importantly though, we got down to the real purpose Fundamental…

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How to Increase Your Credit Score in 30 Days or Less

By Holly | August 6, 2013

When it comes to credit scores, I have found more often than not that it’s not until one is ready to make a big purchase, such as a home or a car, that they learn about credit. By then it’s too late if their score is too low to qualify for the loan or too…

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What's the Difference Between Deferment and Forbearance and Which One Should I Choose?

By Holly | July 29, 2013

In 2011, our nation’s outstanding student loan debt reached one trillion dollars. And today, many are finding it difficult to make their minimum payment due to job loss, health issues, unemployment, or because they are not making enough money to cover their bills. As a result, many are exploring options to skip their student loan…

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