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Bureau of Labor Statistics reports that roughly two-thirds of our economy is fueled by consumer spending, much of it in the form of creditcard debt. One recent survey by the creditcard comparison website CardHub observed that consumers added a total of $87.3 billion increase during the fourth quarter alone.
And with a new year approaching quickly, it can be a good opportunity to take stock of what’s happened in the past year—in your personal life, career and with your finances—and think about what changes you’d like to make in the year ahead. As you think about your personal finances heading into 2023, creditcard debt should be top of mind.
Although everyone’s personal finance journey is exactly that, there are certain steps we all can take as we pursue financial feminism and literacy. Get familiar with your finances. Knowledge is power, and knowledge of our own finances is especially powerful. Compared to African American participants, who responded to 2.3
As Neff has learned, one key to doing that is having a good rewards creditcard—and taking advantage of everything it has to offer. The right creditcard for your business travel needs will depend on several factors, including the size and maturity of your business, your expense levels and your credit profile.
We are often told by personal finance experts that money should only be viewed as a tool to reach our goals, with no emotions attached to it. If your parents struggled with money, it can feel as though they doomed you to have a horrible relationship with your finances as well. Determine the facts. Look to the future.
In every financial workshop, I hold with 20-somethings, there inevitably comes a point where someone utters the phrase, “But my dad said…” followed by: I should carry a balance on my creditcard to improve my credit. This article originally appeared in the August 2016 issue of SUCCESS magazine and has been updated.
“It’s not your momma’s finance lesson,” Lapin says in describing her book, Rich B h: A Simple 12-Step Plan for Getting Your Financial Life Together… Finally. Throughout the book, she shares personal anecdotes and examples, such as how she painlessly eliminated a $5,000 credit-card balance. Photo courtesy of Nicole Lapin.
Discord over finances does not signal that a relationship is irrevocably flawed, or fundamentally doomed. Attitudes and needs related to finances will evolve and devolve. This article originally appeared in the September/October 2021 issue of SUCCESS magazine. Money disagreements will happen. Money is a long game. Good luck!?.
The company crashed and burned in 10 months, and; King took on $70,000 of creditcard debt by financing payroll on her personal creditcard. This article originally appeared in the September/October 2024 issue of SUCCESS magazine. “We built websites, and it was a disaster from the start,” King admits.
Patrice Washington Photo courtesy of Patrice Washington Wealth is about more than just your finances, which is why Patrice Washington is setting out to redefine it. I recognize that I drive some of the personal finance gurus crazy and I’m 100% OK with that,” she jokes on her website. Yes, you can still buy yourself Starbucks!)
So, at that point, I was like, ‘I need to take the personal finance background and bring it in a very light, friendly, almost sexy way to this audience.’” A lack of understanding our money impacts all ages, from 18-year-olds getting their first creditcard to retirees at 65 and older.
Make the most of creditcard rewards Your business expenses should be earning you something in return. Travel-focused creditcards come with perks like free travel insurance, airport lounge access and points on your purchases. And even if youre tempted by business class, economy seating can save you a pretty penny.
When you are part of the million-mile flyer club, and it’s not because of creditcard points, you begin to reflect on what matters,” Wolff says. He asked principals at these think tanks questions to understand the historical economics of different appellations, wine industry trends and vineyard financing.
Krystal Pino is a certified public accountant and personal financial specialist with a bachelor’s degree in accounting and an MBA in finance from the University of Alabama at Birmingham. Creditcards with no foreign transaction fees and significant travel benefits are a must, and a bank account that refunds ATM fees is a good start.
Now there are even cryptocurrency creditcards that reward you in crypto, much like you would earn hotel points or airline miles. This article originally appeared in the January/February 2022 Issue of SUCCESS magazine. This gives you exposure to the entire crypto industry while minimizing the risk of owning individual coins.
Managing your business and personal finances can be a headache. Personal Finance Tools Personal financial needs are often a little different from those of a business. When you connect your creditcards to the YNAB app, you can set a payoff date goal or schedule your card’s balance to be paid in full monthly.
It’s so much easier than dumping receipts and bank and creditcard statements in a box and manually going through each piece of paper every quarter. Business CreditCard Using a business creditcard for all or most of your expenses is an easy way to capture all of your deductions in one place.
For example, 84% of respondents in a 2020 survey from personal finance site NerdWallet said buying a home is a priority. They didn’t have the income or credit to buy and struggled with student loan and creditcard debt, so it was harder to save for a down payment.”. Surveys show that most Americans want to own a home.
The “down” escalator is racking up debt on high-interest rate creditcards , going into debt to buy things you don’t need, taking out payday loans, and borrowing money to invest in things that can go down in value. This article appears in the January/February 2020 issue of SUCCESS magazine and has been updated. annual return.
What if he wrote down my name from my creditcard and used it to find out who I was? Through it all, I remain optimistic that better days are ahead, but I manage my finances and career more pragmatically. This article originally appeared in the November/December 2022 issue of SUCCESS magazine.
To reap the full benefits of owning an LLC, you absolutely need to separate your business expenses from your personal finances by establishing a separate bank account for your business and having a creditcard dedicated solely to business use. This article appears in the September 2024 issue of SUCCESS+ Magazine.
But as she got older, she began to realize that mastering money was her ticket out of poverty and abuse—and she set out to learn as much as possible about business, personal finance and building wealth. It took five years, but she graduated with a degree in accounting and finance from California State University San Marcos.
Consumer Direct Since 2003, ConsumerDirect has helped consumers take control of their finances, maturing into a massive fintech platform that earned over $100M in gross revenue last year alone 1. classList.add(overflow-hidden); } else { document.body.classList.remove(overflow-hidden); document.getElementsByTagName(html)[0].classList.remove(overflow-hidden);
No matter what, it’s important to get your finances in order. Choose an online banking system that works overseas and a reliable creditcard with no foreign transaction fees. This article originally appeared in the May issue of SUCCESS+ digital magazine. Depart for first destination Bon voyage!
Small Business Blogs Entrepreneur Magazine Blog Entrepreneurship & Education at the Kauffman Foundation Fresh Inc. To add to the usefulness of mobile devices the recent release of the device that allows you to swipe creditcards will really take small businesses to the next level. The wave of mobile devices is definitely here.
These days, my biggest “little” indulgence is the way I use my creditcard reward points. And fantasy, I’ve learned, is important, especially when your default setting is a fiscally stressful reality and “hobbies” that include devouring articles on finance, budgeting, inflation and retirement. Photos by Boyloso/Shutterstock.
Simplify your finances. Cut down on the number of accounts you have, cut down on your creditcards, spend less, reduce your bills. Make your finances automagical. Simplifying your finances greatly reduces your stress. It makes everything else on this list possible. 13.
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