Finances

Personal finances is the financial management of a families budget, to save and spend monetary resources over time, keeping in mind financial risks and future life events.


6-Sign-Your-Debt-Has-Become-a-Problem
It can be really tricky to tell when exactly debt crosses the line from manageable to problematic. One week you’re plugging along, as usual, the next you realize you’ve gotten in over your head. Everyone’s financial situation looks different, so there’s not necessarily a universal way to determine whether the debt has become a problem. However, there are six warning […]

6 Signs Your Debt Has Become a Problem


Owning-a-credit-card-is-a-responsibility-and-you-can-either-build-your-credit-or-damage-it.-Paying-it-off-month-is-what-helps-build-your-credit 2 comments
Credit cards are everywhere. The little pieces of plastic that allow us to spend money we don’t possess have taken over. As an adult, you have a whole range of options available to you, depending on your needs. If you are a bit short before payday or you need to fund a large purchase, there are credit cards geared to […]

Pros and Cons of Owning a Credit Card


Rock Bottom - 5 Steps for Rebuilding Your Life After an All-Time Low Photo by Tom Pumford on Unsplash A variety of things could tank your financial situation—divorce, bankruptcy, or the loss of a job, to name a few. While you may feel like things will never look up again, that is not the case. Below are five steps that you can take to start rebuilding after an all-time low: 1. Beat the Credit Trap In general, it is not a good idea to add a loan to a bad financial situation, especially if it’s a payday loan that comes with excessive interest. No-interest loans are an exception to this rule. These loans are typically smaller in size, ranging between $300 and $1,500 for things like education or essential goods and services. A no-interest loan can be a great way to set yourself up to rebuild your credit score while helping you attend to your basic needs. 2. Create a New Budget Given that your financial situation has changed, your budget must change as well to reflect your new income. A caveat, it must be realistic to be successful. Go back through your bank account and credit card statements from the previous month and review bills and amounts. If your financial issues did not allow you to pay your bills in the recent past, put your budget efforts on hold briefly. Your first focus should be creating a list of what you owe and to who. You can then create your budget to include your monthly payments to pay your bills as well as the additional amounts needed to catch up on outstanding payments. 3. Get Professional Help If you are struggling to find a path to catch up on outstanding payments, a great resource is a financial planner or advisor. Financial counselors can help you get out of debt and teach you how to create an emergency fund so you can avoid this economic rock bottom in the future. You can find these individuals through such resources as the National Debt Helpline, which is a free service. 4. Pursue Emergency Relief If your new financial situation is dire and you cannot afford to purchase food or pay essential bills, it is time to seek out emergency relief. There are nonprofit organizations that can provide food, clothing, transportation, and other services to help get your financial life back on track. 5. Make Time for Self-Care A very important item in rebuilding your finances is self-care. Your mental health can suffer if your finances do. For example, your new financial situation could cause you to experience feelings of anxiety, worry, increased stress, and depression on a more consistent basis. It is crucial to keep these new emotions in check by investing in self-care. Meditation and deep breathing are excellent ways to restore emotional balance as is exercise. Think through what brings you peace and relief and pursue those things consistently. Your financial rock bottom is not the end of your story. You can absolutely rebuild and create a better financial future. If you are unsure where to start, seek out the help of a financial counselor. Then, create a new budget which may include payments for those you have missed in the past. If you need an immediate influx of cash for an essential good or service, only consider a no-interest loan or seek out emergency relief. As you rebuild, set aside time for self-care so that your mental health does not suffer alongside your financial health. 1 comment
  Photo by Tom Pumford on Unsplash A variety of things could tank your financial situation—divorce, bankruptcy, or the loss of a job, to name a few.  While you may feel like things will never look up again, that is not the case. Below are five steps that you can take to start rebuilding after an all-time low:  Beat the […]

Rock Bottom – 5 Steps for Rebuilding Your Life After ...



5 Tips to Avoid Toxic Debt for a Secure Financial Future
Swimming With Sharks -Get Out Of Toxic Debt Source: The Digital Way on Pixabay The burden of debt isn’t just stressful; it can be genuinely debilitating when it comes to your finances. Don’t feel like bankruptcy is the only solution. Here are five tips to avoid toxic debt for a secure financial future. Avoid loans Some loans are unavoidable. We […]

5 Tips to Avoid Toxic Debt for a Secure Financial ...


3 Ways to Make Use of a Debt Consolidation Loan Effectively 1 comment
Are also suffering from the problem of paying multiple payments and installments of the loans you are taken? If yes, then you have landed at the exact location. Here you find the most appropriate way to get rid of the same thing easily. Not only you, but there are also hundreds and even thousands of people present who suffers from […]

3 Ways to Make Use of a Debt Consolidation Loan ...


Making kids understand finances should be one of the priorities for every parent 1 comment
Making kids understand finances should be one of the priorities for every parent. The earlier you introduce the topic, the more comfortable they will be to handle their finances as they grow up. How often do you discuss finances with your kids? Simple budgeting tips? Or involve them in financial decisions that directly affect them? Some parents feel it is […]

How Well Do Your Kids Understand Finances?




How To Manage And Regain Control Of Your Family Finances
If you are worried about the state of your family finances and are feeling increasingly upset and overwhelmed, then it is time for you to rethink how you spend and begin to take steps to make a change not only for your own future but that of your family also. We may all have the best intentions when it comes […]

How To Manage And Regain Control Of Your Family Finances


learn how to manage the funds we already have
No matter how much money we have, there is always that little extra we need for paying down a debt installment or for buying a new car or financing tuition fee for our children. But, in order for us to be able to cover all the extra expenses that might arise on an everyday basis, we don’t always need a […]

Live A Limitless Life on a Limited Budget



How to Manage Your Credit Card Repayments with a Debt Consolidation Loan
When you purchased your new furniture to fit out your new home, your income could support the monthly payment. Then, there was that little trip to the Caribbean last summer that really did some damage to your credit card. Compound that with the fact that in the last couple of months, you had to make repairs to your home and […]

How to Manage Your Credit Card Repayments with a Debt ...