As technology advances, there are new innovations that can help us organize our finances, save money, and stay caught up on paying our bills. For some people these changes are confusing or difficult to trust. If you have spent decades paying bills by writing checks, it’s hard to transition to paying bills online. But paying…
Posts Categorized: Personal Finance
At credit.org, we’ve worked for years to help a growing number of unbanked Americans. Unbanked people have no checking or savings accounts. Being unbanked leads to extra expenses and difficulties that make managing one’s personal finances riskier; thankfully there are new options to help people without access to traditional banking. Why Some Americans Forego Bank…
The new car you bought 3 years ago for $30,000 is worth just over $15,000 today, and you’re thinking it might be time to trade it in before its value vanishes completely. While getting rid of that used vehicle might seem like the smartest move, you shouldn’t use the last couple of years of depreciation…
In a very unique and sometimes scary year, families are looking to have a safe Halloween. Many traditional holiday activities may be limited, but there are still many ways to enjoy the season without breaking your budget: Tips for Trick-or-treating During a Pandemic Depending on where you live, trick-or-treating may not even be allowed this…
More adults in America are living at home with their parents than at any time since the Great Depression, according to a recent study by the Pew Research Center. In fact, the percentage of young adults living with their parents is now over 50%—so if you are an adult living at home, you are in…
Whether you’re saving to become a homeowner, for retirement, or for some other purpose, building savings is a crucial goal for every consumer. When we educate people about the budgeting process, saving up an emergency fund is often the first goal we tell people to set. Make savings a regular habit you think about routinely…
Back to school time can be financially challenging, whether the students in your life go to elementary school, college, or somewhere in between. It’s critical to budget carefully to get through the early fall and give your students the best start on their academic year. One thing that is important to note about budgeting is…
The National Foundation for Credit Counseling (“NFCC”) previously surveyed peoples’ opinions of their mother’s personal finance skills in a Financial Literacy Survey (“FLS”). An overwhelming majority, 65 percent, saw their mother as either someone who is intimidated by money, views managing money as a necessary evil, or has never managed money. What mothers may not…
Baby steps can make a big goal look much more achievable. A $5 daily savings goal is a small commitment that can have a big impact over time. Following this practice for a year adds up to $1,825 to fund your emergency savings account, put a down payment on a car, or treat yourself to…
Warm weather may inspire you to fling open your windows and tackle some serious spring cleaning. Why not channel some of that fresh-start energy into your finances? Just like clutter accumulates at home, bad spending patterns can creep up bit by bit, making them hard to spot. Commit to dropping a few of these bad…
We help people eliminate debts like credit card balances and achieve financial freedom, so it’s often assumed that we are against credit card use. That’s not true; we know credit cards are a necessary part of your personal finances, and the truth is that there are some benefits that are impossible to ignore. In fact,…
We recently wrote about 5 things to know about paying off a credit card. While we coach people to pay off their debts and live more on a cash basis, we recognize that credit cards also have some very important benefits. There are, however, some risks that can be a serious threat to your personal…
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