Blogs - Page 6

Losing your job can hit you like a ton of bricks, especially as you think of all of the financial obligations you have. Having a budget can help you manage your finances to get you through this difficult time.

If you’re trying to reduce your monthly expenses to help pay down credit card debt, consider how to save on your water bill.

If you are trying to figure out the best way to pay down debt on your own, you should consider which method works best for you – the debt snowball or debt avalanche.

If your goal is to pay off credit card debt in a reasonable amount of time, you are going to have to pay more than the minimum payment. Here’s why.

Do you ever find yourself buying something impulsively? According to newneuromarketing.com, the average consumer spends more than $5,400 per year on impulse shopping for food, clothing, household items, and shoes.

A traditional budget is an exercise in basic arithmetic. Knowing your fixed income, you set spending targets and try to stick to them. This means, however, that any substantial unexpected expense can upend your budgeting. Some people find it difficult to stick to their budgets due to this inflexibility.

In an ideal world, we would be saving and paying off debt at the same time, and even have resources to invest in the money market. But ideal worlds are rare and many people have to make a choice between paying off debt or saving for an emergency.

While paying off debt and saving money don’t need to be mutually exclusive, very often your personal finances don’t allow you to do both at the same time. Which one you pick depends on your financial expectations, goals in the future, and the priorities you have set for yourself and your household.

Boosting savings and paying off debt are two of the most popular uses for Americans’ tax refunds year after year. According to a recent survey, around 31 percent of tax refund recipients expect to drop their windfall into their savings accounts. Twenty-four percent of them plan to put a dent into their debts with the money.

According to a recent survey by Highland, a majority of Americans have been hit hard financially since the global pandemic of 2020. Though 53% reported they were not doing so before the pandemic, now 63% admit that they are living from paycheck to paycheck.

The third stimulus check is expected to be larger than each of the previous payments at $1,400. Here’s what you may be able to expect when the next stimulus checks are released.