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Free Up Cash in 30 days
If you have a tight budget, the thought of finding any extra money can seem unrealistic. But with a few minor tweaks, it might be easier than you think to curb spending, according to USA Today. Scrutinize your spending patterns and obligations and you might find simple ways to cut down on debt and actually save money in the long run: - Consolidate debt. Sometimes the key to paying down debt can be as simple as combining it. By consolidating your loans, you might be able to save on interest rates, simplify monthly payments, and actually start saving money. Debt consolidation isn't for everyone--if you know you will use it as an opportunity to run up more debt, consolidation is not for you. Talk to a Priority First loan specialist to see if consolidation is a good move for you and your finances. You can call to...
Students: Easy Ways to Cut Costs
College students are gaining confidence in personal finance management but unfortunately also have become less competent. A survey conducted by High One and Everfi recently found that in 2014, college students were more likely to use more than one credit card than they did in 2012, according to USA Today. Considering that nearly two-thirds of undergrads take out student loans, and college seniors are graduating with an average loan balance close to $24,000, if students aren't careful about spending, the first financial steps they take after college might send them in the wrong direction. While college expenses may seem limitless, students can learn to manage them by avoiding these common money drains, according to CUNA's member education department: • Carrying a credit card balance. Many credit card companies lure borrowers with enticing offers, and then hit them with a hefty monthly interest charge on their accrued balance. According...
Age Doesn’t Matter: Focus on Retirement Savings Today!
While many Americans might feel confident in their ability to support themselves after they retire, thousands will reach the age of 65 without adequate financial preparation. It is never too early—or too late—to focus on retirement savings. The Center for Retirement Research at Boston College estimates that you need about 70% of preretirement income to maintain your lifestyle in retirement. - If you are in your 20s, the center advises that you start saving 10% of your pay annually and gradually increase the percentage over time. - If you’re playing catch-up starting at age 45 and hope to retire at 65, the center estimates that you will need to save 27% of your income each year. If you can put off retirement to age 70, that drops to 10%. - For those who are starting even later, there are different ways to attain a worry-free retirement: work longer,...