Media Hits

While Americans’ confidence in having enough money to retire is remaining steady, preparation for those golden years still seems to lack.

We have all heard the saying “time is money,” but more Americans like never before apparently believe their time is extremely valuable

While Americans are known for their lack of savings and credit card debt, more are feeling secure in their own financial well-being and think they are living the American Dream.

Millennials, or the “entitled generation” are seemingly not interested in acquiring things. Turns out, they value experiences more than physical items. Cash is not king, experiences are.
“Sixty-three percent of millennials don’t have a single credit card. And they would rather take a job that pays less if it means living a healthier lifestyle. As the ‘entitled generation’ focuses on experiences over possessions, people are starting to take notice of the spending trends — retailers especially.”
Millennials are more interested in obtaining life experiences and spending quality time, rather than spending money on stuff to make them happy.

With millennials being the largest generation ever in America, more and more are needing to take student loans. Tuition prices are also rising, meaning people are taking out bigger loans to compensate for the rising prices of college.
“Student loan debt is a burden that college graduates carry long after they’ve left the hallowed halls of academia. And this ever-present weight affects various aspects of their lives, including employment decisions.”
An employer that assist their employees, with their student loan payments, is ultimately more attractive to a millennial compared to an employer that does not help with student loans.

Does your credit score seem a bit lower than it should be? An error on one of the three credit reports might be to blame.
“TransUnion, Experian, and Equifax each maintain a credit report listing your open credit accounts, your payment history, and any negative judgments, such as a recent bankruptcy or foreclosure. Unfortunately, these reports aren’t always perfect.”
Your credit score follows your around for the rest of your life. Making sure your credit is accurate and squared away is extremely important.

For many people donating to the less is just another expense. Especially for people who regularly donate to their church or other charities that are close to their hearts.
“For example, those who feel compelled to donate first to their religious organization feel a moral imperative to do so. Yet others feel people have a moral imperative to first repay creditors. Which choice is more moral? See, it’s a damn slippery slope. Neither is but both are just as important. Or are they?”
If you’re in debt and still feel compelled to donate to church or charity, fit it in your budget and only donate what you can afford.

Credit cards aren’t designed to be used for emergency purchases. In fact, financial experts say that using credit cards for a financial emergency is a poor move.
“Credit cards come with high interest rates. Using them for big purchases can damage your credit score. And once you get in the habit of paying for big emergencies with plastic? It might be a hard one to break.”
Be proactive and put some money away in an emergency fund to fall back on in case of any unexpected major expenses.

After the recession, more and more Americans are weary of debt and many people are choosing to totally forego credit cards all together.
“In the wake of the recession, Americans are growing more cautious about debt, and many are even choosing to completely forego credit cards. According to a Bank Rate study, 63% of millennials don’t have a credit card. But even if you decide not to support credit card companies, a favorable credit report will likely be essential at certain times in your life.” Credit cards are not essential to building credit.

Three percent for every purchase can add up, especially small business struggling to flip a profit. But that same business cannot afford to not take credit card transactions because more and more people are using cards over cash.
“Let’s face it: If your small business accepts credit cards, there will always be credit card processing fees to pay. Typical merchant account companies charge up to 5% on everything a company earns from credit card sales, including processing costs, interchange costs and statement fees, according to the U.S. Small Business Administration.”
Credit card fees might be unavoidable, but small business owners can still save money through careful planning and research.

Pay your bills on time to ensure that you’re not slapped with a penalty rate. Howard Dvorkin, chairman of Debt.com, recommends paying off the balance a month early, if possible, to make sure you don’t miss the due date, then check that the issuer received the payment.

A new report is revealing which states have the worst student debt for college graduates. A map was created using data from the Department of Education and several other sources.

Based on those reports from the College Board, the Institute for College Access & Success and data from the Department of Education, personal finance site Debt.com created a nifty interactive map that shows the average student debt and defaults by state in 2013. And it is not pretty on the east side.

Debt.com, a personal finance website, recently released a state-by-state layout of student loan debt, with Alabama ranking as the 12th worst state for student loan debt. The average amount of debt per person in Alabama stands at a lofty $28,895, with a 14.2 percent default rate.