Should You Be Using Your Credit Card For That?

Having a credit card can be a powerful tool, sometimes too powerful.

It can allow you to purchase what you need, today, while putting off the worry of actually paying for it until another day. They can be very helpful, but they can, as many Americans have found, get someone into a lot of financial trouble.

The average U.S. household has $15,355 of credit card debt, according to NerdWallet. This could in large part be a cause of the rapid increase in the cost of living. Meanwhile, the average household income has mildly increased, though not enough to keep up with the price of everyday and household expenses.

The uneven increases in cost of living and income has led to an increase in debt level for many people.

But with a well-thought-out credit card strategy, Americans can reduce their credit card debt. It all comes down to knowing when to use a credit card, and when to leave it behind. Continue reading…

Tax Season Checklist

March 7, 2016
Tax Time
Tax Refund, Tax Season

Tax season is officially here, which means Americans from sea to shining sea are starting to gather their paperwork and starting their tax prep.

While a few look forward to tax day, it’s an essential task everyone must complete before the tax deadline.

Obtaining and organizing all the necessary documents and receipts can be a tedious, and often stressful, chore.

It’s helpful for you to know exactly what you need to file and how to do it. Continue reading…

Can Your Cell Phone Save You More Money?

Saving money is sometimes easier said than done.

Luckily, in today’s technologically advanced world, many people have devices that can help them meet savings goals.

Yup, we’re talking about smartphones!

Almost two-thirds of the American population have one, according to the Pew Research Center.

Most smartphone owners use their devices to look up directions and entertain themselves, but there are many other helpful applications. More than half of users do their banking on their smartphones, which is a great way to manage finances.

But there are plenty of other ways a smartphone can help review spending habits and meet savings goals.

Ways To Earn Extra Cash In 2016

Many people have a goal of saving money.

According to Statistics Brain Research Institute, 34% of people who make New Year’s resolutions had some kind of money-related goal for this year.

A common school of thought is to cut expenses and budget better to save more money. If you are someone who splurges frequently, this is probably a good solution.

But if you’re someone who already watches how you spend income, budgeting and strategizing might only take you so far. Instead, the answer might be as simple and impossible-sounding as “make more money.”

Pay Off Debt by Planning a “No-Spend” Month

Paying off debt often means making lifestyle changes and taking a close look at your spending habits.

Oftentimes, you can make some shortcuts here and there to improve your monthly payments. However, becoming debt-free takes time and patience.

Sometimes, the slow rate of progress can be discouraging. If you have ever felt like paying off old credit card bills and auto loans was taking too long, consider amplifying your payment plan by planning a no-spend month.

A no-spend month means that you will go on a fiscal fast for 30 days as a way to save more money and potentially boost your monthly payments.