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In an ideal world, no one would take out loans to pay off their debts, but in today's real world, there comes a time when borrowing money may be a great financial move. According to Joelle Scally, the New York Fed's Administrator of the Center for Microeconomic Data, "the second quarter of 2022 saw significant increases in credit card balances, mortgage, and auto-loans which were partially due to rising prices.” Further, the rumor of a potential recession that plagued much of 2022, is believed to be inevitable in 2023. Therefore, a personal loan…continue reading →

Debt is toxic in almost every form. To avoid it, one should take every precautionary measure possible. It can jeopardize your financial future. Nobody would be in debt in a perfect world, but that is not how things are in the real world. The way of life of the average man today has significantly changed. Debt issues are a major cause of stress and according to a 2017 survey by PricewaterhouseCoopers more than 53% of workers stress over finance. But not all types of debt should be the cause of keeping you up…continue reading →

Most of us aspire to be rich and it is not always possible as building wealth is a process that takes time, patience and constant effort. You not only have to have the right money mindset or right money beliefs but also maintain modest lifestyle habits.Habits are the actions you take not once but consistently throughout life. Therefore, if you are to achieve wealth and success in life you need to learn to adopt certain habits early in life. Here are the 5 most important habits you need to cultivate. 1. GET UP…continue reading →

Tax day is approaching and after the gifting season, you are probably debating what to do with your tax refund. You may have earmarked it as money to “blow”—that is money you can frivolously spend on all the fun things you have wanted but could not afford. But is there a better use for this money? While there are many ways to spend your refund check, you have the opportunity to use it frugally and not treat it as extra income. A tax refund is the money that you have earned over the…continue reading →

Even if you think you are frugal and have your finances under control, you still may be wasting thousands of dollars every year on unnecessary expenses that you may be unaware of. It is easy to notice when you are blowing up your budget on extravagant extras and luxury items but it is much harder to notice smaller, under-the-radar money wasters. If you are not paying attention to these expenses it can start to add up. Wondering where you are wasting your hard-earned cash? Check out these 10 top sneaky and surprising reasons…continue reading →

Budgets are no doubt a key factor in money management. A good budget can be a huge help if you are paying down debt, bulking up your savings or just trying to get a better handle on your money. But budgets rarely ever work because they leave little or no margin for error. They are also time-consuming to set-up, tedious to manage and very exhaustive. But there is one simple budgeting trick you should try. According to the billionaire investor, Warren Buffet “you should not save what is left after you spend, but…continue reading →

At one time you could have been imprisoned for outstanding debt and faced a catch 22 situation, but the Debtors’ prison has been illegal in the United States of America since 1833. So thankfully, nowadays you cannot be jailed for nonpayment of “civil debt” like a credit card, personal loan or hospital bill, but there are a few exceptions. You can be forced to go to jail for not paying your taxes or child support. Consumer debt rights have come a long way and consumers are protected and have certain rights. Debt collection…continue reading →