Author: financeet

Everybody understands the worth of cash. Everybody understands that saving is vital. Everybody understands how debt can damage them… But monetary literacy is without doubt one of the hardest issues for Individuals to deal with and perceive. Individuals have a monetary literacy downside. Via a lot of completely different research, it’s been discovered that this monetary literacy downside applies to each younger and outdated Individuals. Most Individuals lack the fundamental data and abilities required to have interaction in sound monetary decision-making, a state of affairs that considerably threatens their monetary wellbeing. What are a few of the stats round monetary…

Okay this topic is nothing new… Proposals to change the current credit score model have been around for the last 20 years or so. These proposals to change the model come from policy makers who want the credit score models to be more transparent and defined. On the other side, the major credit bureaus are privately owned businesses so they naturally want to keep their control over how the models work. Is there a chance that the credit score model could change soon? First, how does the current credit score model work? Currently, there are three major credit reporting…

Nearly 33% of Americans withdrew or borrowed money from an IRA or 401(k) during the pandemic, and nearly two-thirds (63%) used those retirement savings to cover basic living expenses. In addition to the global health crisis, many Americans are really struggling financially. Where did those payments for living expenses go? 41% said to pay medical bills 32% said the money was used for home repairs 26% used the money for auto repairs 23% paid tuition 21% helped family members While these may be necessities, tapping into retirement funds can be harmful. What’s the Harm in Tapping Into Retirement Early?…

The Great Recession was a major economic downturn that affected the global financial markets from December 2007. From that month, until the end of the recession in June 2009, the GDP declined by 4.3 percent, while unemployment rose to 10 percent — this took a long-term toll on the economy. Some areas of the United States are still feeling the repercussions from the crisis and may never see an economic recovery. The Great Recession Then and Now The downward spiral to the Great Recession began in December 2007, after two consecutive quarters of declining economic growth. At this point, the…

Are you a millennial? Then we have to discuss why try to be investing and how one can begin at this time. Millennials are these born between the early-Nineteen Eighties and mid-Nineties. Made up of about 83 million folks, our technology is the best-educated and most numerous, however we’ve gotten a tumultuous begin to our monetary maturity. Many millennials entered the job market throughout and instantly after the 2007-2008 monetary disaster. In different phrases, we bought off to a tough begin. Due to that, it ought to come as no shock that millennials are a bit leery of placing their…

Visitor publish by Lyle Solomon, Principal Legal professional at Oak View Regulation Group in California. So, what does it actually imply to reside paycheck to paycheck? Dwelling paycheck to paycheck is an expression used to outline individuals who use most of their earnings in direction of their bills. If you happen to reside paycheck to paycheck, little to no a part of your earnings goes in direction of financial savings. In response to this survey, 78% of the working class reside paycheck to paycheck. Why is it so widespread even with the upper-middle-class inhabitants? In response to this report…

There are no shortages of articles, surveys, and blogs that are talking about the desperate impact of the COVID-19 recession on family budgets. One aspect that hasn’t been talked about enough is how working families are financially struggling. According to the Bureau of Labor Statistics, more than 65% of households are dual income households. A June survey found that more than half of households have lost income since the recession started. This means that even for families where someone is working, they are short where they were in February. What about the government’s lifelines? Lifelines that were stabilizing,…

Brandon and I had a four-month engagement earlier than our marriage ceremony for no different motive than that when we determined to get married, we simply wished to be married. Marriage ceremony planning is among the most enjoyable occasions of somebody’s life. And for sure, planning your dream marriage ceremony in 4 months takes a whole lot of planning and preparation. And the planning isn’t over as soon as the best way day is over. As a substitute, you progress from the marriage planning guidelines to the newlywed monetary guidelines. Sadly, many individuals go into marriage with out pondering of…

Have you ever added up how much time you spend each month on your finances? Or, separate from the time you spend working on your finances, how much time you spend stressing about your finances? When I first decided to change my financial situation, it felt like hours per week. Hours per week, and I never seemed to make any progress. And the more time I spend without progress, the more the stress would eat into every other part of my life. Finally, I found one trick that saved me time, reduced my stress, and finally started making a difference:…

In the summer of 2020, Brandon and I bought an RV, sold most of our belongings, and hit the road to travel full-time. It’s been amazing, but we hit a few bumps in the road. Most notably, our car started on fire. Yes, you read that right. It literally started on fire. As you can imagine, there wasn’t much that could be done to salvage it, and we had to replace it quickly. When this happened, I started to panic a little. You see, my husband and I have both had our fair share of financial hiccups along the way,…