All the signs suggest that inflation is not going away but will be a problem for some time to come. We are all accustomed to low inflation figures, but 5% overall inflation and above is going to require adjustments to spending habits. The good news is that the changes are…
Older employees feel their age, which means medical care is becoming a priority concern. Medications, physical therapy, and other treatments become part of a person’s life after age 50, and people will worry about how to pay for necessary treatments. Medical bills are nothing to laugh about. They are often…
Research has shown a person has problems whenever impulsive buying becomes a habit. These unplanned purchases can generate as much as 40 percent additional expenses. In addition, social media has encouraged the desire to buy things that are not necessary. Social media is convenient; there is no question about…
Inflation is hitting home. The Wall Street Journal recently reported that mortgage interest rates are hovering around 5% nationwide. The American housing market has not seen these figures in over 10 years. Mortgage rate hikes are not yet cooling down the real estate market; house buying is still highly active.…
Those with college loans recently got another breather from the Feds. President Biden has extended the college debt moratorium until August 31, 2022, and that is a welcome development for everyone wrestling with debt payments. There is still talk of loan forgiveness but be careful about banking on that. A…
The inflation monster is now awake after a decades-long nap. Recent figures suggest that the rising costs of almost everything will not go away soon. The next couple of years, and indeed the next couple of months, will be hard for many Americans. They are going to be paying more…
No one goes bankrupt intentionally. However, people get into dire straits with their finances because of their problems managing the debt they acquired. Sizable debt rarely occurs overnight, and some debt is legitimate, such as mortgages or auto loans. A major invoice, such as a medical bill, comes in the…
The pandemic hit personal finances in one way or another. Thankfully, stimulus checks and other forms of assistance got most of us through. But unfortunately, employees are now confronted with just as difficult as the quarantines: rapidly rising inflation. The rate of price increase is swallowing up most of…
Can we expect forgiveness of college debt this year? The Biden Administration has extended the pause on federal student loan payments until May 1, 2022. That is a relief for many, but it is temporary. The Federal Student Aid Office estimates that federal student loan borrowers owe in the neighborhood…
Being irresponsible is not always the reason a person gets into debt trouble. A more compelling explanation is that sizable debt can result from bad decisions. When confronted with extensive obligations, what a person does can make the situation more serious. Panic Makes Things Worse Medical bills will…