Articles Posted in financial wellness

American consumers love plastic. It is easy to use those credit cards and safer than carrying large amounts of money. Retailers like credit cards since people usually spend more when they use them. Special programs and bonus points encourage folks to reach for the card whenever they shop. Unfortunately, the convenience of using credit cards is habit-forming. That is a big problem.

The Unnoticed Cost

The interest rates credit card companies charge are a threat to financial wellness. The rates are ordinarily double-digit charges on purchases, and that adds to an already outstanding balance. The debt increases steadily as a consumer relies on plastic to pay for even small items. Anyone can quickly accumulate a five-figure due balance. Action must be taken before things get out of hand. Continue reading

We are pretty much done with the pandemic years. Covid 19 is still with us, but recent job figures are reassuring. Unemployment is currently not a problem. Americans can feel relieved but must stay concerned about the future. New storm clouds are gathering.

Inflation and Interest Rates

The June inflation figures are 9.1%, the highest in over 40 years. Interest rates are starting to go up as well. Neither is a good sign. The statistics can negate any pay increases or job promotions. American consumers adjusted their spending during the pandemic, and some decisions were not wise. Moratoriums on college debt, evictions, foreclosure, and other obligations made life bearable, but not everyone saved for a rainy day. Continue reading

People with college debt are worried with good reason. They are dealing with a debt load that takes years to pay off. Life decisions such as buying a house or starting a family can be delayed for years. There does not seem to be an easy way out.

Dealing with Debt

Countrywide Pre-Paid Legal Services understands the frustration. College debt makes it tough to pay the rent and buying certain luxuries may be out of the question. People who have such obligations need help and not stern lectures. We have a financial wellness plan that is a significant employee benefit. It gives support to those who might be giving up hope. Continue reading

We understand why folks get anxious about the cost of everything. America has not seen the recent inflation figures in decades. The cost of living affects everyone. Sadly, rising prices are hurting plans. It is easy to get depressed and be resigned to not being able to own a house, ever.

House Hopes Are Falling

While some experts anticipate that the price of houses will go down, the mortgage interest rates are going up. It is a squeeze that frustrates people. The thought that a home is unaffordable is sufficient to make anyone give up on being a house owner. However, we think that no one should lose hope. The house is still affordable without sacrificing financial wellness. Our self-study program, “Make Your Move,” gives many valuable home buying tips. Continue reading

Half of the year has gone by, and this is a time for evaluating progress. People set financial goals in January and take a moment now to assess how they are doing. Changes or modifications might be needed to clear any obstacles.

Facing a Challenge

Everyone is feeling the effects of inflation. The June figures were high, and food and gasoline prices are not decreasing. Money is tight, and the average consumer must stretch the dollars to cover the bills. This belt-tightening is coming at a tough time. Continue reading

We did not get good news from the Consumer Price Index in May. Inflation went up 8.6% from last year, the highest rate in over 40 years. Washington has promised to do something about inflation, but we do not know when we will see positive results. In the meantime, consumers must deal with the rising cost of nearly everything.

It means that pay raises and promotions, which ordinarily provide more spending income, can barely cover the rising costs. That causes considerable stress and aggravation. Unfortunately, we do not have any magic spell or potion to cure inflation, but we will give you a few tips on how to do some due diligence on your budget. Continue reading

A lot of excitement has been generated by recent news. The US Department of Education canceled nearly $5.8 billion in outstanding student loans, affecting over 500,000 people in debt. It is a fantastic development but look again before you celebrate.

The cancellations affected former students of Corinthian Colleges. This was a large for-profit education company that filed for Chapter 11 Bankruptcy in 2015 and was sued for false advertising and recruiting. Those students who attended Corinthian Colleges are the only ones who are thus far forgiven any debt. Continue reading

Experienced gardeners will tell you that the yield of ordinary garden vegetables is enhanced by companion plants. For example, placing basil next to a tomato plant will improve the quality of the taste and permit you to grow larger tomatoes. The same can be said about employee benefits.

Organizations have a core group of benefits they offer to employees. Health insurance is a sine qua non for effective employee benefits program; you do not have much without it. Health benefits help with paying for all kinds of medical treatments and medications. However, employees have difficulty with copayments and deductibles. They spend money from their own pockets in addition to the premiums they pay. Help with managing medical costs would be deeply appreciated but benefits administrators are not necessarily financial experts. Continue reading

The rising inflation rates are on everyone’s minds, and the costs affect a lot of decisions. Employees are worried about being able to meet certain charges, and they are not sure if their paychecks can cover everything. The reason for this stress is that the average person does not know their total value.

What we mean is that folks know the balances in their savings account and checking account. However, they may not understand how much their assets are worth. Having an idea of total asset value, including stocks, bonds, insurance policies, collectibles, etc., can help.

Some of the Expenses Continue reading

If San Diego, California can be used as any predictor, both house prices and mortgage rates will go up in the future. Inflation is a bear, and things will not get much better soon. It can cause people who want to buy a house to temporarily give up hope of ever having their piece of the American Dream. That is a pity, and it does not have to happen.

Sorting through the Options

Most first-time homebuyers realize they must have a sizable down payment to afford a good house. However, they are not so sure about where to get a mortgage. In fact, they do not know anything about the real estate industry and what to do. The house is perhaps the most significant financial investment these people might make, and the whole prospect of being a homeowner can be intimidating. Continue reading