Consumer debt is an extremely contradictory part of our personal finances: it’s at once common and incredibly personal. According to numerous sources, the majority of US adults owe money in some way, shape or form—and yet what this consumer debt represents can vary drastically from person to person. To some, a debt might signify a major accomplishment or progress toward a large goal. To others, it might be a constant reminder of a time of crisis or hardship. The decisions that lead us to consumer debt can be thoughtful and deliberate, or rushed and misguided. It is perhaps these differences that make it challenging to talk openly about debt for fear of judgment.
Living on your own for the first time can be empowering. It means having independence and all the things that come with it. Some of those things—like not having to share a bathroom—are wonderful. Others—like killing spiders yourself—are not so fun. And leading the pack in the not-so-fun category: bills.
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They love me, they love me not. Here’s how you can prevent yourself from falling victim to some of the sneakiest crimes out there—romance scams.
Scammers target seniors more aggressively than any other group. Recognizing the most common scams helps prevent your money and personal information from getting stolen.
For most people, spending comes naturally. Saving up for something special is harder. And setting money aside for giving is really hard.
Even though there are over 5,000 credit unions in the United States, many misconceptions about their structure and their services still exist. One popular-but-false assumption is that the term “credit union member” is interchangeable with the term “credit union customer.” It might seem like a harmless mistake, but the concept of membership is what sets credit unions apart from other financial institutions. A “member” isn’t an empty marketing term—it reflects your credit union’s commitment to co-operative values and shapes your entire banking experience. As a member, you’re a part owner, you have a say in how your credit union is run and you get to share in its success in tangible ways.
Borrowing money comes at a cost. This extra cost is called interest. If borrowing money costs more, why do people still do it? Here are three reasons why:
What was the very first financial choice you ever made?
You make many choices every day. You choose how to spend your time. You choose how to spend your energy. You also choose how to spend your money.