CreditCardsCo Blog Author - Scott Townsend

Scott (68 Posts)

Scott Townsend is a financial planner who has shared his time and talents with many individuals as well as organizations. His passion is in teaching others how to manage their finances wisely. He also teaches people how to create wealth and properly prepare for retirement. His knowledge on properly managing debt has helped a lot of people to free themselves from the burdens of credit card debt. Also at: Credit Card News.

Scott Townsend

Card’s fixed rate APR changes to variable? What to do?


In recent times, a number of credit card companies have hiked up interest rates, have changes interest charges from fixed to variable or done both. During such periods of economic hardship to the common man, this makes it much more difficult for people barely managing to stay current with monthly payments.





Getting Ready For a Crisis


As the saying goes, ‘failure to plan’ is ‘planning to fail’, a financial crisis deserves every bit of planning on your part. Gaining ammunition on what to expect during a financial crisis goes a long way in getting you ready for tougher times ahead and ensuring you don’t make the silly mistakes a lot of us subscribe to during these periods.





Ways to Take Advantage of a Financial Downturn


A financial downturn is usually marked by job-cuts, tightened access to credit, and other events that often lead to financial insecurity. This article gives you a few tips that could help you stay within your means, and prevent the mistakes that a lot of us make during financial downturns.





Laws to Prevent and Counter the Financial Crisis


Since the beginning of the crisis in late 2008, the U.S Government and Congress have passed a number of bills into law. These bills have been designed to inject liquidity into the financial markets, increase availability of credit, and encourage consumer spending. A number of regulations have also been introduced to curb practices in the sub-prime mortgage industry.





Vicious Cycle that led to the Financial Crisis


Experts have citied a lot of reasons for the financial crisis. Due to increased demand for housing, and government policies encouraging subprime mortgaging, banks lowered minimum requirements and credit ratings of potential borrowers became less important.





Recession & Depression. How it affect my finances?


While there’s no widely acceptable definition of a recession, virtually all economics agree that a recession is a period of declining economic activity. Businesses experience little growth causing the employment rate to fall, price of housing drops, and the Gross Domestic Product (GDP) falls by 10% or more within a 12 month period.





How to improve your cash flow?


The cash flow of a business – whether a small-scale or big-time business – is the feast and famine nature when money coming into the business becomes tight enough to risk not supporting underlying business activities it formerly supported.





Second ‘$800 billion’ Bailout and US Consumer Banking


Unlike the first $700 billion stimulus package which was intended to promote inter-bank lending, the second bailout $800 billion economic stimulus package would be used to purchase consumer debt and mortgage backed securities.








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