A significant part of managing your finances well is your ability to plan for the future. While you can’t predict every curveball life will throw at you, being prepared, setting goals, and constantly working to better your financial position are crucial steps to your success.
The ability to buy a product or service now and pay for it over time is nothing new. It's the same concept that made credit cards one of today's most popular forms of payment. Yet everywhere you look lately, from grocery stores to online retailers, there is a “new” way to pay: Buy Now, Pay Later (BNPL).
The best way to achieve financial milestones is through a budget. But creating a budget and sticking to it are two entirely different things. While on paper, you may have the perfect plan to meet your monthly expenses and grow your savings, in reality, life happens.
While student loans are the most popular way to fund a college education, it’s important to remember that you’ll eventually have to repay what you borrow – plus interest. It’s better to have a plan to reduce any possible expenses while in college to limit the amount you do finance.
It’s no secret that a budget is one of the best ways to set yourself up for financial success. With a traditional budget, you can see how much money you have and know exactly where your money is going.
You can probably guess that an emergency fund is for financial emergencies just by the name. Everyone can agree that most financial challenges tend to pop up when they’re least expected. They can range from unexpected car repairs or medical expenses to a sudden job loss or a decrease in work hours.
In a roller-coaster-type fashion, consumer saving and spending have seen their ups and downs during the Covid-19 pandemic. First, when the pandemic started, not only did spending on travel come to a screeching halt, but entertainment rapidly declined, as did in-person shopping. In general, people were spending less of their money, preferring to hold onto their cash partly or fully due to the unknown.
Everyone has months where their budgets take a detour and get off track. Whether it’s because of an unexpected expense or a much-needed, unplanned vacation, a hit to your monthly budget can definitely cause stress.
Most people have multiple debts these days – ranging from credit cards and student loans to car and home loans. The thought of repaying them all can be daunting, especially if you’re only making minimum payments each month. However, there are strategies you can put into place to help organize and reduce your debt quicker.
Everyone deals with stress and anxiety. Whether it’s work-related, issues at home, health problems, or something else, stress can weigh you down emotionally and physically. While there are many solutions to help lessen the effects of anxiety, some people tend to turn to indulgences, such as emotional spending, to relieve tension in their lives.
