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What’s the Difference Between a Loan Cosigner and a Guarantor?
Some financial terms are so similar that they end up being used interchangeably. But that doesn’t mean they’re the exact same thing.
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Michael Foguth in How To Shave Hundreds Off Your Credit Card Balance Before the End of the Year
The absolute first thing you need to do is take a look at the number you need to pay off and break it down,” said Michael Foguth
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How To Switch Banks in 6 Simple Steps
Like karaoke night at your favorite bar, banking fees have a way of making even longtime customers head for the exits.
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A UAW-GM deal could bring big bonus, raise. Here’s what to do with the money
After the long, contentious five-week walkout at General Motors, UAW members will no doubt have to pay off the bills that have been building since the strike began Sept. 16.
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5 Ways To Build Credit Or Boost Your Credit Score Without A Credit Card Or Debt
Whether you’re completely new to using credit or simply doing your best to avoid debt, you might find there’s one annoying side effect: You don’t have a good credit score. Maybe you don’t have a score at all.
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What Happens if You Don’t Pay Your Taxes?
TAX SEASON WILL BE HERE before you know it, and you may be wondering what could happen if you don’t file your 2019 returns by the April 15, 2020 deadline.
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Money Goals! Michael Foguth, Brighton Personal Finance Expert, Comments on the Zero-Dollar Days Method
From expenses tracking and receipt saving to micro-budgeting and major cost-cutting, saving money for the long term can quickly become a tedious process.
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12 Credit Card Rules You Should Never Break Featuring Insights by Michael Foguth
“I’m not a fan of department store credit cards for two reasons,” says Michael Foguth, founder of Foguth Financial Group in Brighton, Michigan. “For one thing, the revolving interest rate is typically highest on those department store cards.
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Brighton Personal Finance Expert on 13 Silly Wastes of Money You Don’t Even Think About
Bring your lunch to work. Skip the daily latte. You know how to cut costs on a daily basis, or during particularly money-crunched times.
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How to save big bucks on school supplies
According to the National Retail Federation, families with children in kindergarten through 12th grade plan to spend an average of $697 this year. Clothing and accessories take the biggest cut, closely followed by electronics.
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How to tap your 529 plan to pay for college tuition
The 529 college savings plan is one of the best ways to set aside money for your children’s college education. The plan offers a host of features that make it an attractive option for savers, including sizable tax breaks and deductions just for doing something that’s already valuable for a future college student.
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Northville Financial Advisor on 10 mistakes to avoid with 529 savings plans
Helping your child pay for a college education can seem like a daunting task. Luckily, there are Section 529 plans, which are state-sponsored programs that provide tax benefits when saving and investing in a special account for elementary, secondary, and postsecondary education.
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Are you completely covered by your life insurance policy?
Are you completely covered by your life insurance policy? It’s a question many may not ask themselves or know the answer to. There are some reasons people may want to consider updating their policy or changing it.
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13 of the Biggest Retirement Regrets Among Seniors
Time and careful planning are what you need to retire and live happily ever after, but sadly often life gets in the way. No one is perfect, and many retirees have regrets when they reach retirement. We’ve talked to both senior financial planning experts and retirees alike about some common regrets.
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13 Tricks to Cut Down on Summer Utility Bills
Summertime and the living is easy…until you open the bills, that is. Between blasting the AC and overdoing water consumption, those seemingly innocent warmer-month habits have a way of adding up. Before you open another bill, though, first shift your attitude about saving, advises Prudential’s financial wellness advocate Tiffany Aliche, aka The Budgetnista.
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13 Tricks to Cut Down on Summer Utility Bills
Summertime and the living is easy…until you open the bills, that is. Between blasting the AC and overdoing water consumption, those seemingly innocent warmer-month habits have a way of adding up. Before you open another bill, though, first shift your attitude about saving, advises Prudential’s financial wellness advocate Tiffany Aliche, aka The Budgetnista.
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13 Tricks to Cut Down on Summer Utility Bills
Summertime and the living is easy…until you open the bills, that is. Between blasting the AC and overdoing water consumption, those seemingly innocent warmer-month habits have a way of adding up. Before you open another bill, though, first shift your attitude about saving, advises Prudential’s financial wellness advocate Tiffany Aliche, aka The Budgetnista.
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How to save $1,776 over the next year
As Baby Boomers approach retirement, they may encounter a lot of so-called “expert” advice telling them how to invest just before or during their golden years. While some of this guidance is sound, other tips are myths that may, in fact, steer investors in the wrong direction.
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How to save $1,776 over the next year
As Baby Boomers approach retirement, they may encounter a lot of so-called “expert” advice telling them how to invest just before or during their golden years. While some of this guidance is sound, other tips are myths that may, in fact, steer investors in the wrong direction.
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Baby Boomers: Don’t Buy Into These 10 Pre-Retirement Investment Myths
Being an American means more than hosting backyard barbecues, enjoying a slice of apple pie and chugging a beverage at a baseball game. We value life, liberty and the pursuit of happiness. Though our ancestors come from different lands, many of us strive for the same thing: a home, a couple of kids running around and of course, a dog.
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Livingston County’s Own Financial Pro Says: Think Long and Hard Before Using a Promotional APR
Zero-percent interest offers for credit cards are so common now that I usually just delete or toss them. Surely, another one is right around the corner, should I desire it, since my credit is solid.
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Northville Financial Expert, Michael Foguth Speaks to Fox 2 Detroit
The kids are nearly out of school for the year, and summer vacation season is just around the corner. Wherever you decide to go, it likely won’t be cheap. A recent study found Americans spend more than $100 billion on vacation.
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Michael Foguth featured on U.S. News and World Report and Yahoo Finance about using credit cards to stay on budget
Using one credit card for all your purchases can make it easier to keep track of how your spending compares with your budgeted amounts. This allows big-picture thinkers to make adjustments.
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Social Security Out of Money by 2035, Fox 2 Speaks with Michael Foguth
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Lending Tree Consults with Michael Foguth About Personal Loans
Michael Foguth of the Foguth Financial Group in Brighton MI was featured in a recent article on LendingTree.com. Click here to read the article on LendingTree.com or you can read the article below. How to Apply for a Personal Loan by DAWN PAPANDREA April 2nd, 2019 If you need access to a lump sum […]
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Realtor.com speaks with Michael Foguth about credit scores and mortgage debt
Brighton’s Michael Foguth was featured in a recent article on Realtor.com. Click here to read the article on Realtor.com or you can read the article below. How Does Paying Off Your Mortgage Affect Your Credit Score? By Terri Williams | Feb 26, 2019 doockie/iStock A mortgage is probably the largest debt you’ll ever have, and paying it off is
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Barron’s talks to Michael Foguth from Brighton, MI about ‘unretirement’
Brighton’s Michael Foguth was featured in a recent article on Barron’s. Click here to read the article on Barron’s, or you can read the article below. How ‘Unretirement’ Affects Your Social Security By Sarah Max March 17, 2019 8:00 a.m. ET Photograph by Christopher Furlong/Getty Images Whether by choice or necessity, a growing number
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U.S. News and World Report speaks with Brighton’s Michael Foguth about Scams
Brighton’s Michael Foguth was featured in a recent article on U.S. News and World Report. Click here to read the article on U.S. News and World Report, or you can read the article below. 6 Scams That Target Your Bank Account Learn how to spot and sidestep online lending, check overpayment and other forms […]
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Realtor.com speaks with Michael Foguth about credit scores and mortgage debt
Brighton’s Michael Foguth was featured in a recent article on Realtor.com. Click here to read the article on Realtor.com or you can read the article below. How Does Paying Off Your Mortgage Affect Your Credit Score? By Terri Williams | Feb 26, 2019 doockie/iStock A mortgage is probably the largest debt you’ll ever have, and paying it off is a …
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Michael Foguth Featured in 6 Ways to Spend Your Tax Refund
Tax season has officially begun. January 28 was the first day taxpayers could start filing returns, both paper and electronic. Once you file, you can sit back, relax and wait for your refund to come in. But what to do with the money once you get it? Here’s what experts suggest.
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ABC 12 Hosts Michael Foguth of Brighton, Keeping Finances In Check in 2019
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Creditcards.com consults with Michael Foguth
The content on this page is accurate as of the posting date. Please review our list of best credit cards, or use our CardMatch tool to find cards matched to your needs. Need to transfer your ever-growing credit card debt to a new card that offers 0-percent interest on balance transfers, at least for a limited time? You might consider HSBC. Here’s everything you need to know about transferring a balance to an HSBC credit card, including card options, restrictions, balance transfer fees, chances of approval and even potential pitfalls.
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Detroit Free Press Quotes Michael Foguth from Brighton
Albert Charles has a long checklist of things running in his favor, as he studies the voluntary buyout on the table from General Motors for thousands of engineers, executives and other white-collar workers.
No kids in college? Check. Two sons, ages 30 and 26, both employed and covered under health care plans? Check. Saved steadily in the 401(k)? Check. No mortgage payments? Check.
And frankly, Charles, 61, has to admit that he wouldn’t miss the horrible bumper-to-bumper traffic and construction headaches on I-696, if he took the buyout and stopped driving roughly 50 miles one way from his home in Livingston County to GM’s Warren Technical Center, too.
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Michael Foguth Talks with Detroit Free Press
General Motors salaried workers heard the news of voluntary buyouts in an email on Halloween morning. And many didn’t wait long to track down what they needed to do.”I was trick or treating with my kids and they’re emailing me saying ‘Hey, what do you think of this?’ ” said Michael Foguth, a financial planner who has GM clients.Foguth, president and founder of Foguth Financial in Brighton, said he was surprised at how quickly the buyout packages were distributed after the announcement.
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Time Interviews Michael Foguth of Brighton
If you’ve been looking to make the math work on an early retirement, you just might get your wish. Drugmaker Pfizer recently announced a buyout offer for long-time employees, and experts say this could just be the start.This year, 300 positions have been voluntarily eliminated by U.S. employers. While that’s down considerably from the nearly 5,000 buyout offers and early retirements in 2017, the dip might be temporary, says Colleen Madden Blumenfeld, spokeswoman for job placement firm Challenger Gray & Christmas.
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Michael Foguth Featured on NBC News online
Rising interest rates irked President Trump into calling the Fed ‘loco,” but they’re good news for savers. Here’s how to find the best interest rate for your bank accounts.Though 63% of Americans don’t have enough in savings to deal with a $500 emergency, those that do should make sure it’s getting the most return. And as wages climb for some and the stock market hiccoughs, it’s nice to know rising interest rates will work in your favor.
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Michael Foguth Discusses Rising Interest Rates with Discover
Brighton’s own Michael Foguth was recently featured in Discover’s latest article about rising interest rates.
Click here to read it on Discover.com. Editor Note: Michael Foguth is quoted frequently in major media as a trusted source of financial wisdom. He provides financial advice from his offices in Brighton, Michigan.
Michigan Personal Finance Professional Offers Advice on Using the Lending Tree Platform
A personal loan could help.
Personal loans are unsecured — meaning you don’t have to put up collateral to secure one — but some lenders do offer secured personal loans, too. These versions are backed by some form of collateral, usually your home or car. If you default on your payments, lenders can take possession of your home through the foreclosure process or repossess your car, much like they can do with mortgage loans or auto loans.
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Brighton Financial Expert featured in US News Property Investing Report
Additional Article Excerpt: Consider employment trends and growth demographics when deciding whether an area is a good fit. Most real estate investors start by investing in local property, but what if buildings in the area are overvalued, or if there are good deals in another city or state?
Investing outside your local area takes a different mindset than buying property in your hometown. Here are some tips to help.
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Brighton Financial Advisor Addresses Retirement Spending Anxiety in Advisor News
A study from Ameriprise shows that 68 percent of retirees haven’t begun to withdraw their money, aside from taking required minimum distributions.
Nearly seven out of 10 retirees are not withdrawing money beyond their required distributions and the reasons might be because they don’t have enough money or they are simply afraid they don’t.
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Livingston County Financial Advisor Quoted by Reader’s Digest on Health Insurance
Healthcare costs continue to rise, thanks to costly prescriptions and pricey hospital visits. Fortunately, there are ways to cut costs when it comes to your health—just follow these health insurance tips.
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Brighton’s Local Personal Finance Expert Quoted by Forbes
Michael Foguth was quoted in this recent the personal finance article by Forbes. 5 Things To Do On Personal Inventory Days by: Janet Berry-Johnson Excerpt: On a recent episode of the podcast Call Your Girlfriend, Sabrina Hersi Issa, CEO of Be Bold Media and Venture Partner at Jump Canon, shared her method for taking stock … Read More
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Brighton Retirement Advisor Quoted in Time Magazine
Foguth Financial Group President Michael Foguth contributed to a Time article that spoke to hidden retirement assets. Retirees’ Biggest Asset May Be Hiding in Plain Sight By: Dan Kadlec As Quoted by Time: “Michael Foguth, a planner in Howell, Mich., says the loan balance still grows at a compound rate–interest on interest. “I continue to … Read More
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Howell Area Retirement Expert Shares Wisdom With USA Today
USA Today recently published an article about how entrepreneurs aren’t saving enough for retirement. Foguth Financial Group President Michael Foguth contributed his thoughts. Retirement: Why small-business owners don’t save by: Rodney Brooks Excerpt: Baby Boomers are becoming entrepreneurs at an amazing pace. By some accounts they are starting 50% of new businesses. The U.S. Small Business … Read More
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