How to Save Your First $1000 & Boost Your Savings
Saving your first $1000 can seem intimidating, and a lot of people don’t have $1000 in their savings accounts to cover a sudden, unplanned expense. Fewer than 4 in 10 Americans have enough money set aside to cover an unexpected $1000 expense, such as a trip to the ER or car repairs, according to a new survey by Bankrate. Having even $1000 saved in your emergency fund can get you out of many financial scrapes. Knowing you have this safety cushion between you and life will make you way less reliant on your next paycheck. Many financial experts say that saving your first $1000 will give you a head-start in…
12 Bad Habits That Are Keeping You Poor
Many Americans clearly lack expertise and wisdom in managing their own finances and end up broke for month after month. That leaves many people poor, even if their income puts them well above the poverty line. Yes, even if you’re earning a good salary or making decent money, you might still be living paycheck to paycheck. According to a recent survey from SunTrust Banks, Inc,- a third of higher-income households — those that bring in $75,000 or more a year — live paycheck to paycheck. There are certain bad habits that are keeping you broke and poor year after year, and in this article we will talk about that. When you’re…
The Top Financial Goals That Will Simplify Your Life
The simplicity of your life largely depends on how you organize and manage your finances. Without setting some serious financial goals and having a plan to achieve them, you can’t really simplify your life much. Since money impacts so many aspects of your life, having financial goals can help shape your future by influencing the actions you take today. Financial goals will help you change your mindset, your habits, and your life. Whether you want to pay off your debt, save up to buy your first home, build an emergency fund, or jump start your retirement savings, you should have your top financial goals chalked out so you can work…
11 Reasons for Your Overspending (And How to Stop That)
More and more Americans are living beyond their means. A recent study showed that 80% of Americans are caught up in the chains of debt. That’s a huge number! To build wealth and achieve financial security, you simply need to spend less than you earn. But so many people do just the opposite! If left unchecked, overspending can become one of the fastest ways for us to end up in a bad financial situation. Sadly, now-a-days it’s becoming easier and easier to fall into this terrible habit, and many of us are guilty of this. So, what drives us to spend too much? Let’s find out. You don’t have a budget You might be overspending…
How to Stop Living Paycheck to Paycheck
Living paycheck to paycheck is a common reality for so many people these days. If you are working like crazy to support yourself and your family, and still barely getting by, you might feel better to know that you are far from alone. As many as 78% of American full-time workers are living paycheck to paycheck to make ends meet, according to a 2017 survey done by CareerBuilder.com, a leading job site. According to this same survey: Nearly one in 10 workers making $100,000+ live paycheck to paycheck More than 1 in 4 workers do not set aside any savings each month Nearly 3 in 4 workers say they are…
15 Possible Reasons Why You Are In Debt
Over the last decade, more and more people have found themselves deep in debt. You might be one of them. While there are some obvious reasons for you and others to be in debt, there are also many other reasons that might have contributed to your current financial status which could have been avoided. Being in debt is no fun. It’s highly stressful, and embarrassing, too. It also affects your relationship with your loved ones, and creates chaos in your family life. Learning and understanding why you have debt is the first step to controlling it and, ultimately, getting rid of it. If you don’t understand your reasons for having…
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