Credit Education

Living paycheck to paycheck is a stressful lifestyle, and unfortunately, it’s also a common one. A recent study by Magnify Money discovered that over 56% of Americans have less than $1,000 in both their checking and savings accounts.

This statistic is alarming because we all know that one stroke of bad luck, whether it be a car accident or a broken kitchen appliance, can quickly wipe out at least that amount, if not much more.

In these situations, many people resort to charging credit cards, either for basic living expenses or one-time emergencies because they can’t afford to set money aside for savings.

But it doesn’t have to be that way. Follow these steps to create a financial buffer that will help you plan for emergencies, get out of debt, and start setting financial goals you’ll actually look forward to.

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Are money woes getting the best of you? Maybe the bills are piling up due to an unforeseen financial emergency that’s left you broke or your paychecks always seem to be a dollar short or a day late. If so, a personal line of credit could be just what you need to get over the hump, or at least that’s what you may have heard.

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Good credit is crucial to unlocking many financial opportunities in life. When you have a great credit score, you will see lower interest rates on car loans, credit cards, and mortgages. Some employers and landlords even check credit reports before they make a job offer or approve a resident application.

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One of the most common questions we get asked is, “my health insurance was supposed to cover a procedure, but it didn’t. Now I’m in collections. Is this legal?” The short answer: yes, it is legal, though you may be able to fight back. The long answer, however, requires a bit of context about how insurance companies operate.

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Not long ago, some poor soul suggested (and probably instantly regretted) the reason millennial’s can’t afford to buy homes is because they spend too much money on avocado toast. While the digital outcry from millennials was instantly indignant, that indigence may have been justified.

Home ownership is difficult to achieve if you belong to the generation with $1.4 trillion dollars in student loan debt. However, it isn’t impossible for millennials to achieve the quintessential American dream of home ownership. While the median home price is roughly 1000 percent higher than it was when our grandparents bought their first homes right out of high school or trade school 50 years ago, there are many ways millennials can prepare themselves for home ownership, and none of them involve selling a kidney.

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