All articles tagged with #financial tips
The article offers practical last-minute strategies to pay off credit card debt before the new year, including redeeming points, using cashback extensions, selling items online, monetizing skills, and utilizing holiday bonuses, primarily effective for smaller balances.
The horoscope for September 14, 2025, offers tailored advice for each zodiac sign, focusing on financial stability, relationship growth, and personal well-being, with specific tips on managing money, love, and health based on astrological insights.
Kevin O'Leary shares blunt life advice including managing expenses, focusing on priorities, listening more, discussing money early in relationships, and encouraging children to be independent to avoid entitlement and mediocrity.
The article discusses the rise of online lending platforms like Honest Loans in the US for 2025, highlighting their accessibility, quick approval process, and suitability for individuals with bad credit, while also emphasizing the importance of comparing lenders, understanding terms, and being aware of potential risks associated with online loans.
The article highlights common money-saving habits that can actually be counterproductive, such as driving extra miles for small gas savings, making unnecessary DIY purchases, neglecting maintenance, shopping at multiple stores, and misusing sales and deals, ultimately costing more than they save. It emphasizes the importance of mindful spending and avoiding habits that drain finances instead of conserving them.
Experts say a credit score of 700 or higher is generally considered good, with scores in the mid-700s being ideal for securing favorable rates on loans and credit. To improve your score, focus on timely payments, keeping credit utilization low, and maintaining old accounts.
The average FICO credit score in the U.S. has dropped to 717, the first decline since 2013, attributed to high interest rates and inflation leading to more missed payments and increased debt levels. Despite this, a 717 score is still considered good, but over 18% of Americans were at least 30 days behind on credit card payments in October 2023. To improve credit scores, individuals can focus on paying bills on time, increasing credit limits, and using services like Experian Boost™ to link on-time utility and phone payments to their credit report.
Carly DeFelice, a financial coach and community manager, shares her secret tip for spending only $124 on groceries per month. She plans her meals for the week, writes a grocery list, and sticks to it to avoid impulse purchases. By being intentional with her spending, she is able to have a social life while still saving money. DeFelice's budgeting methods have helped her pay off debt and accumulate over $400,000 in cash and investments.
The average annual percentage rate (APR) for retail credit cards has reached a record high of 28.93%, making it more expensive for shoppers who plan to use store cards during the holiday season. This rate is well above the national average of 20.71%. Opening a store-only credit card can be beneficial if you can pay off the balance in full and on time, especially if the store offers perks or discounts. However, carrying a balance on these cards can lead to high interest charges. Americans are drowning in credit card debt due to rising borrowing costs and practical reasons such as emergency expenses and day-to-day expenses outpacing their paychecks. It is important to prioritize spending, calculate take-home pay, and consider credit counseling if struggling with credit card payments.
A Reddit thread highlights various expensive items that people continue to pay for despite being considered a waste of money, including internet service providers without unlimited data plans, annual smartphone replacements, ineffective gym supplements, overpriced bottled water, and warranties/insurance for affordable replacement costs. Other mentioned expenses include large weddings, in-app purchases in games, food delivery from third-party apps, vacations to kid-centered places for young children, and multiple streaming services when only one is regularly used.
Americans spend an average of $300 per year on checking account fees, including charges for out-of-network ATM withdrawals, overdrafts, and non-sufficient funds. However, many of these fees can be avoided by switching to a no-fee checking account offered by online banks or credit unions. While these accounts may have some limitations, such as minimum balance requirements and limited transactions, they can save consumers a significant amount of money. Despite the availability of no-fee alternatives, many people stick with their current accounts due to inertia. It is recommended to shop around for the best deal and consider parking excess cash in a high-yield savings account for better interest rates.
As student loan payments are set to resume soon, borrowers have several options to minimize the impact on their budgets. The Supreme Court struck down President Biden's student debt forgiveness plan, but the Department of Education has finalized the "most affordable repayment plan ever created," called the Saving on a Valuable Education (SAVE) plan. This income-driven repayment plan reduces monthly payments to 5% of discretionary income for undergraduate loans and forgives loan balances after 10 years of payments. Other tips include saving money in a separate account, checking employee benefits, cutting expenses, considering refinancing, exploring loan forgiveness programs, seeking advice from advisers, paying down loans before repayment starts, enrolling in autopay, contributing to retirement accounts, and researching state-based forgiveness programs. It is advised to avoid using credit cards for payment and to be cautious of scammers offering help with federal student aid.