Identity theft is a serious crime that can have detrimental consequences on your finances and credit score. Unfortunately, most people don’t realize their personal information was stolen until weeks or months later. So, whether you fell prey to a scam or were a victim of a data breach, it’s crucial you act swiftly.
Use the following seven steps to get your finances back under your control and prevent further damage to your credit score.
Much of your twenties is spent figuring out who you are and where you’re going in life. As you progress into your thirties, more pieces of that puzzle begin to fall into place. Perhaps you’re planning to get married or start a family. Maybe specific career goals are on your mind. Regardless, it’s often a period of significant personal growth.
Achieving many of these milestones also takes preparation. And your financial situation will often play a critical role. Building a solid financial foundation should be a priority as it will pave the way for what’s next in life.
Use the following eight tips to strengthen your financial position and lay the groundwork for the goals you hope to achieve.
Receiving a tax refund is exciting and can give you a much-needed financial boost. However, it’s important to remember that this isn’t just free cash. Your tax refund is essentially money you lent to the government, which is now being returned to you. So, it’s in your best interest to use this money wisely.
How can you spend this money so that it helps improve your financial position? The answer to that question will largely depend on your age. The following suggestions explain how to effectively use your tax refund based on your current life stage.
It’s never too early to begin teaching kids about money. Responsible money management is a vital skill they will carry throughout their lives. However, the subject isn’t always the most entertaining, especially for younger children. Many find it dull or have difficulty understanding the concepts.
Fortunately, there are many fun and engaging ways to educate your child about money. All it takes is a little time and some creativity.
Interest rates across the board continue to rise. It’s a wonderful scenario for savers with Money Market Accounts and Certificates of Deposit. Higher saving yields provide greater earning potential.
However, it’s an entirely different story when loan rates are also increasing – especially if the interest rates on your loans are variable. Sudden jumps can derail your budget instantly if you’re not prepared.
Managing existing debt and finding ways to preserve cash in a rising rate environment is crucial. The best place to start is by understanding the different types of loan rates and how the economy can impact your outstanding balances.
As you scroll through the news headlines, predictions of a looming recession are becoming more frequent. If you were in the workforce during the Great Recession of ’08, you know the one word that usually follows “recession” is “layoffs.” Add in the rising interest rates caused by inflation, and many debt-heavy businesses are likely already looking at staff reductions.
Even if you feel secure in your job, crafting a strategy to deal with a hypothetical layoff never hurts. Doing so will help familiarize you with the steps to take, and you could assist friends and family members who aren’t so lucky.
The following guide will walk you through steps you should take if you face an unexpected job loss.
It’s never fun when life throws you a sudden, unexpected financial curveball. And unfortunately, these challenges always seem to pop up when you least expect them. Ideally, the hurdle isn’t too tall, and you can cover the costs with your emergency fund. But these challenges are often more severe – and usually no fault of your own. Instances might include unplanned medical expenses, a sudden job loss, or a significant home repair. The good news is there are solutions available to help you get back on financial track. But they will require you to be proactive and address the challenges head-on. The following steps provide a roadmap for dealing with significant financial obstacles.
As the busy holiday season comes to an end, people around the world use New Year’s Day as a launching pad to improve themselves. Consistently among the top resolutions is bettering one’s financial position.
However, while you have the best intentions, many find financial resolutions more challenging to keep. Last year’s spending and financial decisions don’t simply disappear because it’s a new year. Instead, if you’re like most, you probably have a heaping credit card bill from the holidays staring back at you.
The trick with setting and keeping financial resolutions is preparation. The following guide will detail the framework you can follow to ensure you’re ready to start financially fresh in the new year.
It’s a time to change behaviors and create resolutions with the hope of bettering themselves in the coming year.
Consistently among the top resolutions are living healthier, spending more time with family and friends, and bettering one’s financial position. However, while you may have the best intentions, keeping resolutions throughout the year can be challenging – especially regarding financial goals.
Accomplishing your goals becomes much easier when you work with your partner. Setting goals as a couple allows you to work as a team toward your targets – holding each other accountable along the way. The following five steps will assist you and your spouse in creating a plan to achieve your New Year’s resolutions together.
December is, without a doubt, one of the busiest months of the year. Your schedule is likely packed to the brim between the holiday festivities and year-end work goals. But did you know it’s also a crucial time for managing your finances?
Starting the new year off on the right financial track is a wonderful feeling. But to get there, you’ll need to put aside a little time to wrap up the current year and start preparing for the next. Here’s a checklist of ten items you should review as the year comes to an end. Some moves are time-sensitive – so you’ll want to get started soon.
