The average American owes about $6,000 in credit card debt. As a society, we have normalized debt, and many people owe far more. It’s easy to come to see your credit limit as money you have and can freely spend.
Debt has, though, significant costs that can impact your financial freedom. If you only ever pay off the minimum, then your debt will only build.
With careful debt management and the right debt solution services, you can not only clear your debts, but also build a sound financial foundation for prosperity in your life after debt.
Getting laid off is a challenging situation for a number of reasons. It’s a surprise, disruption, and morale hit. But most importantly, it’s a sudden loss of income. If you already have debt and are worried about living off credit cards until you can secure a new job, now is an important time to plan your finances very carefully.
One of the best ways to improve your budget is to change the way you spend. Always going over-budget can lead to financial stress and anxiety, but smart spending can instill confidence while also helping to make your budget more comfortable every month.
In marathon running, you need to conserve your energy, planning for the long-haul instead of burning everything you’ve got right away. The same is true when it comes to building a a plan for your budget, savings, debt repayment, and even investments. By planning your budget like a marathon, you can set yourself up for long-term success.
Managing your budget without a plan is like cooking without shopping for groceries first. You may feel like you’re just scraping by with the resources you have. But with a little planning and meal prepping, you can make the process a breeze.
Understanding your credit score is like solving a puzzle. It can be intriguing, even challenging, but the end result has great rewards once you master the technique.
Feel like your credit score is a cryptic gatekeeper, controlling access to your financial castle? Loan denied! Mortgage application rejected! No approval for that shiny new credit card! It may seem like your credit score is a mysterious three-digit number, judging your financial worthiness by some secret formula. But having a great credit score isn’t magic—it’s understanding the 5 core building blocks that shape it.
How to Overcome an Unpredictable Financial Climate Economists have tried and failed for generations to create accurate predictions about what will happen next with the economy. If they were able to accurately predict its every move, then everyone would always know what to do with their money. The one thing that we can count on […]
Unsecured Debt vs. Secured Debt: Key Differences and Implications While exploring your borrowing options, you may encounter secured and unsecured debt. Understanding the differences between these two types of debt can help you make better borrowing decisions. If you’re like most people, you may be considering taking out a loan or borrowing money for various […]
