Most of us have at least one credit card, debit card, or some sort of charge card in our wallet or purse (or, a lot more than one!). These days, we reach for them without a second thought for many of our purchases, as charging-it-on-plastic has become a way of life. But little do we know, the credit card ...Continue Reading →
- Credit card debt is at an all-time high – and still on the rise.
At the end of Q4 of 2018, the Federal Reserve Bank of New York announced that U.S. personal credit card debt hit the $870 billion mark. Not only do they expect that number to hit $900 billion in 2019, but it also marks the highest level ...Continue Reading →
By now, you’re probably aware that credit scores range from about 300 to 850 (for FICO Scores), where your score sits on that spectrum, and even what’s typically considered a poor, good, or excellent score.
But what you might not realize is that the range of credit scores (and where you sit on it) isn’t as set in stone as ...Continue Reading →
If you’re like most people, you may answer “Too much!” or “A truck-load!” without knowing an actual number.
But, thanks to a yearly survey by the Department of Labor, we can now account for each category of spending for the whole year, both in real dollars and as a percent of the overall budget.
In fact, it’s estimated that the average U.S. consumer spent a total of $49,638 last year, or $4,136.50 monthly and approximately $138 per day!
Let’s face it: we’re all trying to save a buck.
In fact, the Average American has some sort of money-saving on their annual list of resolutions or goals. It’s also more of a necessity than ever, as more families are living paycheck-to-paycheck than ever before in the U.S., with an average of only about ...Continue Reading →
We’ve all seen a movie and then looked forward to the sequel. Usually, the second film isn’t as good as the first, and we leave the theater somewhat disappointed. But, sometimes, part II is even better than the original, and we walk out thoroughly entertained.
So, when we talk about the horror film of credit card debt in the United States, American consumers ...Continue Reading →
Turn on the TV news, read the headlines or social media, or even pick up your daily newspaper and you’ll probably encounter a lot of talk about the economy. In fact, I wouldn’t be surprised if you read about financial statistics like our U.S national debt, unemployment rates, and even homeownership rates. ...Continue Reading →
Last year, about 137 million Americans – about half of our adult population – flocked to malls, shops, and their favorite retailers on Black Friday. They’re spending big bucks, as U.S. consumers will throw down about $61.4 billion in sales this year, up from $41 billion in 2008. (In total, we’re expected to spend about $682 billion this holiday season!)
The name ...Continue Reading →
I came across a statistic the other day that gave me pause and made me reflect upon what so many people are doing wrong when it comes to their finances.
According to recent surveys, about 50% of Americans die completely broke.
Even worse, most people pass away not only with a net worth of zero but addled with significant debt. In many cases, that ...Continue Reading →
Money and relationships are inextricably tied, each exerting significant influence upon the other. Don’t believe me? In 2009 – during the dark days of the real estate crash and Great Recession – there were more foreclosures than marriages in the U.S.
I know what you’re thinking – there we an unprecedented number of foreclosures at that time, but the data on divorces ...Continue Reading →