When you are in a debt-relief program or are considering a debt-relief program, it is important to create a budget. Don’t forget to include holidays and birthdays in the budget. With the holiday season fast approaching, many will find it difficult to have the holiday they want – not only because of trying to repair their credit or get rid of debt but because of the overall condition of the economy. You can still have a wonderful holiday season and not go into debt again.
Despite significant economic improvement in 2021, consumer debt in the U.S. has once again hit an all-time high. By the first quarter of 2022 it climbed to $15.83 trillion – more than double what it was in 2003 and 20.9% higher than the total pre-pandemic.
As you work hard to get your budget back in order, inflation is certainly doing you no favors. Therefore, now more than ever, it’s important to learn some ways to make some extra money while you are working on a fixed budget. Consider the following side hustles to learn just a bit extra and help offset inflation’s negative impact on your finances:
Everything in life is more expensive right now with record levels of inflation wreaking havoc on countless American’s budgets. The current inflation numbers are hovering around 8%, which is higher than this nation has experienced in over 40 years. Suffice to say that even if you are cognizant of your spending habits, the inflation numbers have simply caused the cost of living to go up so high that it can be difficult to maintain your heading towards financial freedom. Thankfully, you aren’t without some form of recourse as there are some budgeting steps you can implement now to better navigate through increasing inflation levels.
It’s easy to get caught up in the craziness of everyday life, so summer is a great time to pause and reflect on what you’ve accomplished so far. We all have financial goals and aspirations, but the last few years during the pandemic have been rough ones. Nevertheless, the end of June marked the year’s halfway point.
Are you ready to declare your financial independence this fourth of July? For many people, they are simply getting by. They are living paycheck to paycheck, barely making their debt payments, and don’t have a retirement plan or emergency fund. The good news is that you can declare your financial independence, save for unforeseen expenses, and prepare for your retirement with some help from these resources below.
Budgeting can be a tricky thing for many people, especially if they don’t have the time or energy to carefully keep track of each penny. The 50/30/20 rule may have been an easy simplified process for budgeting for some — especially in the past years when the cost of living was lower — but inflation and wage stagnation make the 50/30/20 budget unaffordable. Instead, try these other budgeting methods that may be more feasible.
World Password Day might seem like just another fake holiday that someone in the IT industry created, but there’s a real focus on reminding people to protect their passwords.
Small businesses make up 99% of all businesses throughout this great land, equating to some 31 million small businesses.
Saving money can seem like more trouble than it's worth, given the relatively small sums yielded by trimming expenses by a few dollars a week here and there. But take those savings and invest them, even conservatively, and that can deliver thousands of dollars over the long-term.