Retirement, car insurance, scary facts, debt and more.
The Simple Dollar — Trent reflects on an article he read in the Washington Post about retirement. The stories he recounts are scary — older Americans working poorly paying jobs just scraping by with no hopes for retirement.
Afterwards, he provides insight on dealing with that situation if you’re in it, and strategies you can take if you feel the situation is imminent. This is a comprehensive post but certainly worth the read for anyone frightened about their retirement chances.
Credit.com — Most people are aware that a poor credit score will negatively impact their interest rates on a loan. But they don’t realize car insurance companies frown upon poor scores.
Neil says, “insurance companies have found that people with lower credit scores statistically file more claims than those with higher scores.” And those claims cost them money. He provides three tips for improving your rates.
Money Under 30 — Chris understands that paying down debt at any income level causes sleepless nights. A low income obviously makes it harder — but not impossible. This thorough post provides 10 tips for getting out from under your debt even if you make limited wages.
I like the fifth tip: “tackle one balance at a time.” Most experts say pay down the the balance with the highest interest rate. Chris also recommends that you make the minimum payments on the other debts, then keep advancing until they’re all paid off. Good post.
Wise Bread — We already talked about some scary retirement stories, but this post seemed appropriate. Matt says “packing the scariest statistics into one article will have more impact and motivate more of us” to save.
The fourth one surprises some people: Social security won’t fill all the gaps. Matt says the average social security payment was only $1,325 per month as of July 2017. That certainly won’t pay all the bills. Check out this post. It may light a fire under your savings plans.
Good Financial Cents — Marriage and money don’t always mix — especially if a spouse keeps secrets about their finances. In college, Jeff kept a secret. He owed student loan and credit card debt. He knew he should confess to his girlfriend because “she was the one.”
But before he could confess, she asked. It must have been tough for him — especially since he majored in finances. But he did it. And that confession made him take a serious look at his financial situation. Read this post if you’re thinking about confessing.
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Article last modified on October 26, 2017. Published by Debt.com, LLC . Mobile users may also access the AMP Version: This Week Around The Web - AMP.