Rising interest rates are making it more difficult to borrow money. With a mortgage and other types of loans becoming more expensive, consumers need to stretch their dollars and learn ways to adjust to the changing economy. But rising rates can also help consumers achieve their debt-free goals sooner. By using rising rates to their advantage, it may be possible to reach those budget and financial goals sooner.
An emergency fund is needed when life’s unexpected mishaps occur. Don’t let yourself fall deeper into debt. It’s not too late to initiate an emergency fund and grow it to meet your needs. Start taking the steps to save money and yourself from future strife.
Today’s ability to compare banks, whether brick and mortar or virtual, allows the consumer to better take advantage of incentives and bonuses being offered. By utilizing these advances you can now move your funds into multiple savings accounts and avoid placing “all your eggs in one basket.” This allows the consumer to better manage savings goals, control spending, and avoid unnecessary banking fees to help them reach financial goals more quickly.
The average American family may spend up to an extra $11,500 this year in living expenses. It’s time to make some difficult decisions. Determine the difference between discretionary and fixed expenses. Consult your debt advisor to see what steps you can take to remain proactive and ahead of any future inflation.
What is one small step you can take today to create financial stability tomorrow? Check out our tips in the latest blog post.
Should you prioritize paying down debt or building up your savings? While it is important to find the strategy that works best for your individual financial goals and outstanding obligations, for many people the most effective strategy is going to be one of balance, where debt and savings are managed simultaneously.
Five Cheap Ways to Borrow Money
on Topics: Personal Finance
Find yourself facing unexpected expenses without the means to cover the cost? The obvious answer, to borrow money. Read on to learn five cost-effective methods of taking out a loan or establishing a line of credit so that you can get back on your feet.
The standard age of retirement is sixty-five, but that does not mean you have to wait until then to retire. Many people wait to retire until they are eligible to receive social security income which can then be used to supplement their retirement funds.
Pensions vs. 401ks
on Topics: Personal Finance
Employer-sponsored retirement plans are an important benefit that employees should take advantage of to supplement their retirement funds. However, not all retirement accounts are created equal. Maximizing your contribution to an employer-sponsored retirement plan is the best way to ensure you have enough money to carry you through retirement.
Five Online Loan Scams to Avoid
on Topics: Loans | Personal Finance
From that cute outfit that catches your eye to the special bottle your co-worker swears by, you’ll undeniably feel the pull to buy, buy, buy so you can be as prepared as possible when your little one makes his debut.