The Best Ways to Defeat Doubt and Depression Due to Debt
American household debt hit a record $16.9 trillion at the end of 2022, according to Debt.com. And in 2022, it was estimated that just below 10% of the average American household’s income went to paying down debts. Seeing these numbers, it’s easy to understand why Americans feel overwhelmed by their debt. If you find yourself…
Read MoreYou Could Still Qualify For Student Loan Relief Despite Supreme Court Student Loan Forgiveness Decision
If you’re like many Americans, the Supreme Court’s decision to strike down President Biden’s student loan forgiveness plan probably hurt – emotionally and financially. The Court’s decision was a big blow to financial health in America, but don’t get discouraged yet. The Biden Administration is still working on student loan relief options. Today we’ll explore…
Read MoreHow to Prioritize Savings To Meet Your Financial Goals
There’s a Jamaican proverb that says, “Save money, and one day money might just save you.” Valuable advice. It’s necessary to save some of what you earn for the future because you’ll need the money down the line. But, as you look to start saving, there are so many different goals and personal priorities that…
Read More6 Hidden Costs When Buying a New or Used Car
When you think about big financial purchases, one thing that typically comes to mind is buying a car. Whether you’re buying a car new or used, there may be associated costs you haven’t considered. These additional costs can be considered hidden costs of buying a car. Whether the car is new or used, it’s important…
Read MoreWhat to do When You Get Behind Paying Utilities Like Your Electric and Water Bill
Sometimes, keeping up with all our financial obligations is a struggle. With such high inflation, our money doesn’t go as far as it used to, and it can be a challenge to stay on track financially. In fact, in 2022, one in six Americans were behind on their utility bills. If you find yourself behind…
Read MoreChanges Ahead: Student Loan Repayment & SNAP Benefit Updates May Impact Your Finances
You were probably inundated this spring with debt ceiling discussions on the news and social media. But what is a debt ceiling, and how does it affect your personal finances? Debt Ceiling Background Put simply, the debt ceiling is the limit of how much the US Treasury can borrow. This limit has been raised many…
Read MoreBuy Now, Pay Later: 3 Questions to Ask Yourself First
Buy Now, Pay Later offers are everywhere, whether you’re buying a pair of jeans, electronics, or even just some needed groceries. Their message always seems fairly simple: Don’t pay for 100% of this item today. Instead, spread out the payments over time in four easy installments (or something similar). But it’s not that simple. Here’s…
Read MoreWhy You Should Ditch “No Money Down”
We’ve all seen them – those commercials that promise new furniture, car, or home with no money down. What a good deal! Right? Well, think again. On the surface, no money down looks like a great deal but lurking underneath, there is trouble. 4 Drawbacks to no-money-down offers: No-money-down offers make you an OWE-ER, not…
Read MoreEverything You Need to Know About Debt And Taxes
Debt and credit can be useful tools to help reach goals, but how do they impact your taxes? Having debt, in some cases, can reduce taxes, but in most cases, it is not helpful. Having debt canceled can be incredibly helpful with personal finances and budgets, but sometimes results in more taxes. Let’s start with…
Read MoreIs My Student Loan Forgiveness Taxable?
Follow the latest student loan forgiveness developments here. Student loans and student loan forgiveness have been in the news a lot this year after President Biden announced a historic student load forgiveness plan in August. Student Loan Forgiveness Plan Background On Aug. 24, 2022, President Biden announced a new student loan forgiveness program. This new…
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