Staff Writer

Staff Writer

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Staff Writer
By Staff Writer
on November 17, 2020

Have you been paying the minimum amount due on your credit card month after month? If so, the balance you owe the credit card company continues to grow as you continue to spend. When you’re paying only the minimum due, it can feel like you’re barely making progress toward paying it down.

Staff Writer
By Staff Writer
on October 28, 2020

You may not know this but, a basic winning concept of personal finance is pay yourself first. It’s all about building your savings and healthy money management. Let us explain.

Many of us face a familiar situation from time to time, and that is the promise to yourself or your loved one that you will put more aside for the future. But life takes over, and you find that there’s never enough to put into savings after all the bills get paid. There goes another promise, and so the cycle continues.

First, let’s get the confusion out of the way. Many people consider the phrase, pay yourself first, confusing because it assumes that you’re self-employed when most people get paid by someone else.

Why Pay Yourself First?
Pay yourself first means to save money before spending it. It means you should pay that retirement account or savings account before any other bills or expenses are paid.

Another great way to pay yourself first is paying more on your debts without adding more.

Staff Writer
By Staff Writer
on August 27, 2020

If it seems like everyone has a credit card these days, it’s because most people do. Sixty-seven percent of Americans have at least one, according to Experian’s 2019 Consumer Credit Review. * Choosing to open a credit card account may seem like a no-brainer. After all, credit cards are a convenient way to pay for the things you need. And they’re safer and more secure than carrying around a stack of cash. Plus, if you don’t have enough money to cover a purchase, you can use your card to buy it, right?

Staff Writer
By Staff Writer
on July 24, 2020

Repaying  credit card debt can be costly and time consuming because many credit cards charge very high-interest rates. In fact, according to the most recent data from the Federal Reserve, average credit card interest rates were at 15.09% while the average rate on cards assessed interest was even higher at 16.61%. According to Pro Publica, if your credit score is under 660, your interest rate may be as high as 27%.