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5 Things to Avoid to Live Debt-Free

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<p>Reaching financial freedom is far from easy. Only 29% of Americans consider themselves to be financially healthy. Once you obtain debt freedom, you want to be able to stay there. So, there are several things you’ll want to avoid to live debt-free.</p>::Pexels

Reaching financial freedom is far from easy. Only 29% of Americans consider themselves to be financially healthy. Once you obtain debt freedom, you want to be able to stay there. So, there are several things you’ll want to avoid to live debt-free.

1. Budgeting is Always Crucial to Your Financial Health

You had to budget to get out of debt. That doesn’t stop just because you no longer have creditors to pay off. In fact, budgeting is even more important once you’ve paid everything off. If you don’t set a budget you run the risk of racking up debt again if an emergency arises.

Remember that your budget needs to be 100% cash. Don’t consider your credit cards or any other form of money spendable.

2. Overspending is a No-No If You Want to Live Debt-Free

That directly ties into overspending. If you start considering the money available on credit lines to be spendable, it is more likely you’ll restart the cycle of debt in your life. You certainly don’t want that after all of your hard work to get where you are.

Instead, plan for bigger purchases and save up for what you want. You should also have a set budget for recurring expenses and other plans. Don’t deviate from that budget.

3. Don’t Stop Saving Your Money

Saving money isn’t just important during your debt freedom journey either. As mentioned in the point above, it is important to save money for large purchases and planned expenses. However, it is also always a good idea to keep money saved.

Having an emergency savings fund will keep you from tapping into credit lines if something comes up. Additionally, saving money can help you secure your financial future and ensure you’ll be able to retire someday.

4. Giving Up on Investing Isn’t an Option

When it comes to saving for retirement, you should also continue to invest while you live debt-free. Even though you may not have as much cash flow or you may be tempted to spend cash, it is a good idea to invest in a diversified portfolio.

Not only will this allow for you to have financial freedom throughout the rest of your life but it can help you expand your current finances. Avoid being afraid of the stock market once you’ve paid off your debts.

5. Neglecting Insurance Will Cost You

Renter’s insurance, homeowners insurance, car insurance, and health insurance. Purchasing coverage is important to protect your finances. In the event of an accident or emergency, these policies can help you avoid racking up debt.

Even though the monthly cost of insurance may seem like a pain, it can help you replace damaged items, restore your health, and protect your belongings. Without it, it is easy to swipe your credit card. Insurance is crucial if you want to live debt-free.

Readers, what else would you add to the list? How do you live debt-free?

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How to Choose the Best Loan for Your Needs

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<p>Starting a new business means a lot of expenses. Rent, employees, stocks, just to name a few of the expenses that every new business faces on a daily basis. Sometimes, it’s hard to make ends meet. That’s why loans are there to help you cover those extra expenses that would otherwise be impossible to afford every month. They help you address specific needs and find ways how to support financially your business. After all, there’s isn’t a business that doesn’t need a little extra money.Capture Alt Title There are different loans according to the sum of money and the conditions. It’s very important to estimate the capacity of your business company to deliver reimbursement on time and pay the whole amount of money in the given period of time. Banks and other financial institutions offer a variety of loans under different financial conditions. Check out the regulation before you decide on which loan suits your business the best. Here is a list of loans most popular among business companies nowadays.</p>::PexelsStarting a new business means a lot of expenses. Rent, employees, stocks, just to name a few of the expenses that every new business faces on a daily basis. Sometimes, it’s hard to make ends meet. That’s why loans are there to help you cover those extra expenses that would otherwise be impossible to afford every month. They help you address specific needs and find ways how to support financially your business. After all, there’s isn’t a business that doesn’t need a little extra money.

There are different loans according to the sum of money and the conditions. It’s very important to estimate the capacity of your business company to deliver reimbursement on time and pay the whole amount of money in the given period of time. Banks and other financial institutions offer a variety of loans under different financial conditions. Check out the regulation before you decide on which loan suits your business the best. Here is a list of loans most popular among business companies nowadays.

Personal Loans

Personal loans are the most convenient method to receive the funds that you need. The money that you borrow from a lender you need to return them back, and you pay an interest rate for a given period of time as mentioned in the bank contract. You can use the money from a personal loan for whatever your needs are. For example, you can pay off credit card debt with a personal loan.

The benefits of personal loans are numerous, especially when want to pay off the debt for a longer period of time. To qualify for a personal loan, borrowers need to fulfill several criteria, like credit report, credit score, and debt-to-income ratio. You need to take all of these things into consideration and discuss them with your bank to find out whether your current financial situation allows you to receive a persona loan. To receive the lowest rates for credit, you need to have an excellent credit score, among other things as well.

Term Loans

Term loans, also known as long-term loans, are the most common loans nowadays. Business owners looking for high funding shouldn’t look elsewhere. They aren’t very appropriate for recently opened businesses because lenders want to make sure that you have a clear track record. Applying for a term loan takes a longer time than for other loans. Once the application is accepted, borrowers need to pay a principal amount. Afterward, what follows is the regular monthly payment of the principal amount plus the interest rate according to the contract’s conditions.

Short-term Loans

When you’re in a hurry for fast cash, a short term loan is the solution to your problem. Unlike the term loans, they don’t need a track history to be eligible to apply for a short-term loan. They don’t include loads of paperwork and long processing procedures. In fact, you neither need to have a great credit score, nor there is a need to wait a long time to receive your payment. Whether you want to expand your business or recover from the financial crisis, short-term loans are the answer to your problem.

However, paying a short-term loan must be made for a short amount of time. Unlike the term loans, you need to repay the whole amount of money for the time specified in the contract. Payment schedules may be weekly or monthly, while usually repaying the loan amount is no longer than two years. You need to look elsewhere for financing when the loan amount is not enough for financing your business.

For more of our great articles, read these:

 

How Often Should You Review Your Budget?

How Much Income Do You Need To Afford A Million Dollar House?

 

Financing Your Small Business

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You’ve got the idea, you know who your customers are, and it looks like everything is falling into place. However, making those plans realize is the harder part of every plan. The thing that some people need to make their ideas make to happen is money. No one can deny it that financing a business is a challenge that almost every business company nowadays faces on a daily basis. There are different ways how you can make things happen simply by thinking out of the box how you can finance your business company.

Probably, the first thing that falls on your mind is loans. There are different types of loans nowadays. Short term, long term, loans… They are still the most convenient way to help your business grow. They allow you to choose the tempo of how you’re going to disburse the money, the amount of money that you need, as well as the time you need to get your loan paid.

However, credit cards also give you benefits and have more advantages over the personal cards. It’s a good idea to keep your personal funds and your business finances on a separate account. To save yourself from terrible headaches, here are a few suggestions on what you can do to finance your business today.

Personal Loans

The most popular ways to finance your business are loans. The reason behind this is the possibility to get an amount of money to help you realize your business idea. You get the money for a short amount of money and you can plan ahead what you’re going to do with that money. By definition, you decide the amount of money that you need and banks define the rates. That’s why it’s important to evaluate the real need that you have for your business idea and make a plan of how you’re going to get that money back to the bank.

Many people are still in doubt about which loan type fits their business the best. If you chose a personal loan or a business credit card, the decision is up to your preferences. Both methods to finance your business have their advantages. For example, personal loans have never been easier to get. Especially when it comes to online loan lenders, they have a very high approval level up to 80%.

On the other hand, business credit cards give you the stability that your business company needs. The procedure for applying for a business credit card doesn’t take too long and you can enjoy the services that your bank provides to your business company. Also, business credit cards make it easier for you to control your financial situation at the moment and take advantage of credit card allowance.

Credit Cards

The question then arises which method will work the best for your business. Both types of financing your business have advantages. It’s upon you to decide what your priorities are and what your business company would benefit from the most. When running your business alone, it’s a smart idea to have a business credit card.

It makes it easier to control your funds and fall into a debt trap. For bigger companies, it’s a must to have business credit cards. They are not only useful to separate the funds, but also to have more flexibility with loans and leases later on. However, it makes things easier because all you need to do is apply for a new business credit card. In other words, you can still enjoy the same privilege as a client of the bank’s services.

My Word For 2023: Productivity

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<p>Social media has changed the world in so many ways (some good, some bad). One thing it has certainly done (for me) is provided me with new, interesting ways to think about things and approach projects. Recently, I have seen people choose a word to represent the year to come. Many people have chosen words like “hustle” or “positivity.” My word for 2023 is “productivity.”</p>::Pexels

Social media has changed the world in so many ways (some good, some bad). One thing it has certainly done (for me) is provided me with new, interesting ways to think about things and approach projects. Recently, I have seen people choose a word to represent the year to come. Many people have chosen words like “hustle” or “positivity.” My word for 2023 is “productivity.”

Why I Chose This Word

Of course, everyone wants to be productive, but I chose this word this year because last year was really busy. Even though I was running around and felt exhausted and busy constantly, I didn’t get as much done as I wanted to. Then I came across this inspirational post on Facebook and it really spoke to me. It said…

Be productive, not busy.

When I read that I was like, “that’s it! That’s what I need to focus on.” It is kind of like that old adage “Work smart, not hard.” I want to focus on improving my everyday processes to reach my goals (both short-term and long-term). Before starting projects, I’ll analyze what the best approach is to protect my time (and money).

Productivity Goals

A lot of my productivity goals for 2023 will require a bit of planning. To start, I’ve begun waking up just a bit earlier every day and jotting down a brief schedule of what I have planned. If you saw my last post, I talked about my main goals for the year and I plan to achieve each of these by being productive and planning out my day.

For instance, to achieve my goal of learning German, I will carve out 10 to 20 minutes every day for a quick lesson. To be able to read a book a week, I am scheduling about an hour a day devoted to that alone. My goal of practicing self-care every day will be achieved by waking up just a little earlier and taking care of my skin and practicing yoga.

Our main finance goal of paying off at least half of our debt will also be helped along by being productive instead of busy. Last year, we were a bit frantic with our financial plans. This year, we will track every penny and have a set plan for paying off our accounts.

All in all, I am hoping that setting a goal to be more productive (and less busy) this year will free me up to do more of the things I enjoy, like spending time with my husband, hiking, reading, doing makeup, and crafts. As I’ve stated in the past, a huge part of me being successful in life, and in my finances, is being able to achieve a balance. That’s why I’m choosing to be productive and NOT busy this year.

Readers, do you choose a word to describe your year? What is yours?

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12 Ways Families Can Save Extra Money Each Year

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12 Ways Families Can Save Extra Money Each Year

Planning for a big purchase, building an emergency fund, or simply aiming for financial stability, finding ways to save extra cash can make a significant difference. We’ll explore 12 smart strategies that families can implement to boost their savings and achieve their financial goals. :: Pexels

Planning for a big purchase, building an emergency fund, or simply aiming for financial stability, finding ways to save extra cash can make a significant difference. We’ll explore 12 smart strategies that families can implement to boost their savings and achieve their financial goals.

 

1. Make a Family Budget Together

 

Saving money doesn’t just mean having more in your checking and savings accounts. It’s also an opportunity to teach your kids valuable personal finance lessons. Consider making budgeting a family affair. Gather everyone together every month or so, and discuss your expenses, income, and savings. Use this time to create a budget for family spending. Show your kids what’s in the family bank account and talk about upcoming expenses. You can also help your kids set personal budgets and savings goals. For instance, maybe one of your children wants to save up for the latest video game system or buy a birthday present for a friend. Teaching them how to budget and the value of frugality will instill positive lifelong money habits. :: Pexels

Saving money doesn’t just mean having more in your checking and savings accounts. It’s also an opportunity to teach your kids valuable personal finance lessons. Consider making budgeting a family affair. Gather everyone together every month or so, and discuss your expenses, income, and savings. Use this time to create a budget for family spending. Show your kids what’s in the family bank account and talk about upcoming expenses. You can also help your kids set personal budgets and savings goals. For instance, maybe one of your children wants to save up for the latest video game system or buy a birthday present for a friend. Teaching them how to budget and the value of frugality will instill positive lifelong money habits.

 

2. Trim Your Family’s Grocery Bill

The average family of four with two kids under age 5 spends between $599 and $1,169 per month on food at home. Families with two kids between the ages of 6 and 11 spend between $687.40 and $1,370.10 per month on food at home. Depending on your grocery spending, there might be significant room for savings. Here are some tips: Meal Planning: Plan your meals in advance to avoid impulse purchases. Make a shopping list and stick to it. Buy Generic Brands: Generic brands often cost less than name brands and can be just as good. Use Coupons and Cashback Apps: Look for coupons and use cashback apps to save on groceries. Shop Sales and Discounts: Take advantage of sales and discounts to stretch your grocery budget. Buy in Bulk: Purchase non-perishable items in bulk to save money over time. :: Pexels

 

The average family of four with two kids under age 5 spends between $599 and $1,169 per month on food at home. Families with two kids between the ages of 6 and 11 spend between $687.40 and $1,370.10 per month on food at home. Depending on your grocery spending, there might be significant room for savings. Here are some tips:

  • Meal Planning: Plan your meals in advance to avoid impulse purchases. Make a shopping list and stick to it.
  • Buy Generic Brands: Generic brands often cost less than name brands and can be just as good.
  • Use Coupons and Cashback Apps: Look for coupons and use cashback apps to save on groceries.
  • Shop Sales and Discounts: Take advantage of sales and discounts to stretch your grocery budget.
  • Buy in Bulk: Purchase non-perishable items in bulk to save money over time.

 

3. Cut Cable and Opt for Streaming Services

 

Cable TV subscriptions can be expensive. Consider cutting the cord and switching to streaming services. Many streaming platforms offer a wide range of shows, movies, and original content at a fraction of the cost of cable. Plus, you can choose the services that align with your family’s interests. Whether it’s Netflix, Hulu, Disney+, or Amazon Prime Video, explore your options and save money on entertainment :: Pexels

Cable TV subscriptions can be expensive. Consider cutting the cord and switching to streaming services. Many streaming platforms offer a wide range of shows, movies, and original content at a fraction of the cost of cable. Plus, you can choose the services that align with your family’s interests. Whether it’s Netflix, Hulu, Disney+, or Amazon Prime Video, explore your options and save money on entertainment.

4. Reduce Energy Costs

Lower your energy bills by adopting energy-efficient practices: Unplug Devices: Unplug electronics and appliances when not in use to prevent “phantom” energy consumption. Use LED Bulbs: Replace incandescent bulbs with energy-efficient LED bulbs. Programmable Thermostat: Install a programmable thermostat to regulate heating and cooling. Seal Drafts: Seal gaps around doors and windows to prevent drafts. Wash Clothes in Cold Water: Washing clothes in cold water saves energy and money. These small changes can make a big difference in your monthly utility bills. :: Pexels

 

Lower your energy bills by adopting energy-efficient practices:

  • Unplug Devices: Unplug electronics and appliances when not in use to prevent “phantom” energy consumption.
  • Use LED Bulbs: Replace incandescent bulbs with energy-efficient LED bulbs.
  • Programmable Thermostat: Install a programmable thermostat to regulate heating and cooling.
  • Seal Drafts: Seal gaps around doors and windows to prevent drafts.
  • Wash Clothes in Cold Water: Washing clothes in cold water saves energy and money.

These small changes can make a big difference in your monthly utility bills.

 

 

5. Cancel Unused Subscriptions

Review your subscriptions regularly. Are there any you no longer use or need? Cancel those to free up extra cash. Whether it’s magazine subscriptions, gym memberships, or streaming services, eliminating unused subscriptions can save you money throughout the year. :: Pexels

Review your subscriptions regularly. Are there any you no longer use or need? Cancel those to free up extra cash. Whether it’s magazine subscriptions, gym memberships, or streaming services, eliminating unused subscriptions can save you money throughout the year.

 

 

6. Shop Secondhand

Consider buying secondhand items for clothing, furniture, and household goods. Thrift stores, consignment shops, and online marketplaces offer great deals on gently used items. Not only will you save money, but you’ll also reduce waste and contribute to a more sustainable lifestyle. :: Pexels

 

Consider buying secondhand items for clothing, furniture, and household goods. Thrift stores, consignment shops, and online marketplaces offer great deals on gently used items. Not only will you save money, but you’ll also reduce waste and contribute to a more sustainable lifestyle.

7. Automate Savings

 

Set up automatic transfers from your checking account to a dedicated savings account. Treating savings like a recurring bill ensures consistent contributions. Even small amounts add up over time, providing a financial safety net for your family. :: Pexles

Set up automatic transfers from your checking account to a dedicated savings account. Treating savings like a recurring bill ensures consistent contributions. Even small amounts add up over time, providing a financial safety net for your family.

 

8. Plan Staycations

Instead of expensive vacations, plan staycations. Explore local attractions, parks, and museums. You’ll save on travel costs while still enjoying quality family time. Plus, you’ll discover hidden gems in your own backyard. :: Pexels

 

Instead of expensive vacations, plan staycations. Explore local attractions, parks, and museums. You’ll save on travel costs while still enjoying quality family time. Plus, you’ll discover hidden gems in your own backyard.

 

9. Negotiate Bills and Expenses

Don’t hesitate to negotiate bills and expenses. Call your service providers (such as cable, internet, or insurance companies) and ask if there are any discounts or promotions available. You might be surprised at how much you can save by simply asking. Additionally, review your insurance policies annually to ensure you’re getting the best rates and coverage. :: Pexels

 

Don’t hesitate to negotiate bills and expenses. Call your service providers (such as cable, internet, or insurance companies) and ask if there are any discounts or promotions available. You might be surprised at how much you can save by simply asking. Additionally, review your insurance policies annually to ensure you’re getting the best rates and coverage.

 

10. Use Cashback and Rewards Programs

Take advantage of cashback and rewards programs whenever you make purchases. Whether it’s credit card rewards, cashback apps, or loyalty programs, these small incentives can add up over time. Just be sure to pay off your credit card balance in full each month to avoid interest charges. :: Pexels

 

 

Take advantage of cashback and rewards programs whenever you make purchases. Whether it’s credit card rewards, cashback apps, or loyalty programs, these small incentives can add up over time. Just be sure to pay off your credit card balance in full each month to avoid interest charges.

 

11. DIY Home Repairs and Maintenance

Instead of hiring professionals for every home repair or maintenance task, consider doing some of the work yourself. Learn basic skills like fixing a leaky faucet, changing air filters, or painting a room. Not only will you save money on labor costs, but you’ll also gain a sense of accomplishment. :: Pexels

 

Instead of hiring professionals for every home repair or maintenance task, consider doing some of the work yourself. Learn basic skills like fixing a leaky faucet, changing air filters, or painting a room. Not only will you save money on labor costs, but you’ll also gain a sense of accomplishment.

 

12. Shop Smart for Back-to-School Supplies

 

Back-to-school shopping can be expensive. Look for sales, use coupons, and buy supplies in bulk. Consider purchasing quality items that will last longer, even if they have a slightly higher upfront cost. Also, involve your kids in the process and teach them about budgeting and making wise choices. :: Pexels

Back-to-school shopping can be expensive. Look for sales, use coupons, and buy supplies in bulk. Consider purchasing quality items that will last longer, even if they have a slightly higher upfront cost. Also, involve your kids in the process and teach them about budgeting and making wise choices.

 

Conclusion

By implementing these 12 smart strategies, your family can save extra money each year. Whether it’s budgeting together, trimming grocery bills, or automating savings, every effort counts. Remember, financial well-being is about consistent small steps that lead to significant results over time. Happy saving! :: Pexels

By implementing these 12 smart strategies, your family can save extra money each year. Whether it’s budgeting together, trimming grocery bills, or automating savings, every effort counts. Remember, financial well-being is about consistent small steps that lead to significant results over time. Happy saving!

7 Important Things You Need to Know Before Stashing Your Money in Offshore Accounts

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A 2017 study revealed that the amount of cash in offshore accounts is equivalent to 10 percent of the world GDP. Most people use these accounts as tax havens, so it’s vital to learn more about them before opening one.

Inasmuch as stashing money in foreign accounts is portrayed a shady thing, it isn’t entirely illegal to open a bank account in a foreign country. Using foreign bank accounts can make things easier for people who like traveling or for business owners who want to diversify their assets.

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How Many Days Till Baby Comes Home? 9 Must Haves for New Moms

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3,664,292 babies were born in the United States in 2021 alone. If you’re about to start the journey into motherhood, know that you don’t have to go it alone.

Millions of women across the country are dealing with or have dealt with the challenges of motherhood. And they have excellent advice and tips on the best products for new moms to make your experience easier.

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Too Much TV will Rot Your Brain: 8 Reasons You Should Limit Your Child’s Screen Use

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Kids between the ages of 8 and 12 are getting a whopping four and a half hours of screen time each day. Between school, homework, and family time, that screen time amounts to the majority of your kid’s free time each day.

It’s great that kids have ways to entertain themselves and stay out of trouble, especially since you practically have to take out a loan to pay for the video game consoles they beg for every Christmas.

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What Hurts Your Credit Score? 6 Things That Can Cause It Serious Damage

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report credit score banking borrowing application risk form document loan business market concept – stock image

The average American credit score has risen steadily since the Great Recession. The national FICO score average is now 704. If you have good credit, your main concern should be avoiding mistakes that may lead to this score getting lowered.

By finding out what hurts your credit score, you can use this information to keep your credit in good shape. Without good credit, you will find it hard to do things like getting approved for car or home loans.

Not only will you need a good credit score to make these larger purchases, you will also need to save money. One of the biggest trends in the world of savings is the 12-week challenge. This challenge requires you to save between $100 and $150 a week for 12 weeks.

The following are some of the things you need to avoid when trying to keep your credit score high.

1. Missing Payments is What Hurts Your Credit Score the Most

If you are like most consumers, you have a number of credit card minimums and loan payments to make each month. While keeping up with these payments may be difficult, you need to avoid missing one by mistake.

Not only will missing a credit card or loan payment lead to additional late charges, it can also hurt your credit score. A payment that is over a month late can lead to a credit score being reduced by nearly 90 points.

The last thing you want to do is significantly reduce your credit score due to a mistake. This is why you need to get organized when it comes to when payments are due.

2. Avoid Maxing Out Your Credit Cards

Did you realize credit card utilization accounts for nearly 30 percent of your credit score? This means that the lower your credit card balances are, the higher your score will inevitably become.

Practicing a bit of restraint when it comes to credit card spending is vital. Maxing out one or more credit cards is a horrible idea that could cost you dearly.

Higher credit card balances will lead to your monthly minimums increasing, while your credit score decreases. Maxing out your credit cards can reduce your credit score by up to 45 points.

3. Too Many Hard Inquiries Can Affect Your Credit Score

Every time you attempt to get a loan or a new credit card, a hard credit inquiry will usually be performed. Lenders need to pull your credit report to ensure you are a good candidate for a new loan or credit card.

Applying for a number of different loans or credit cards in a short time frame can lead to a number of hard credit inquiries being generated. Instead of hurting your credit score with the inquiries, you need to be selective about applying for new lines of credit.

Doing some research before applying with a particular company is a must. With this research, you can figure out which lender offers the best terms on the loan you need. Once you have this information, you can apply for one loan instead of a handful of them.

4. Steer Clear of Charge-Offs and Collections

Having unpaid debt can affect your credit score in a negative way. If you avoid making an attempt to pay a particular debt, the company that holds this debt may sell it to a third-party collection agency.

While this may not sound like a big deal, it can actually hurt your credit score. In some instances, a company will classify your debt as a charge-off. Basically this means that a company is removing the debt from their books due to it being unpaid for a long period of time.

Checking your credit report regularly can help you find issues with unpaid debt. Taking out a personal loan to pay off these debts is a good option. If you are looking for information about the best personal loans on the market, you can read more here.

5. The Damage Done by Bankruptcies and Foreclosures

Being unable to pay your debts will put you in a very compromising position. Often times, people who are unable to make these payments will have to file for bankruptcy.

If you are unable to pay your mortgage, the bank may decide to foreclose. A bankruptcy can lower your credit score significantly. The negative mark left by a bankruptcy can stay on your credit report for up to 10 years.

A bankruptcy or foreclosure can lower credit scores by up to 240 points. Contacting your creditors and letting them know about your financial hardship is a step in the right direction. Usually, lenders will offer a reduced payment plan designed to help you avoid foreclosures and bankruptcies.

6. Debt Consolidation Should Be Avoided

Some consumers think that consolidating their debt into one easy to make payment is a good idea. While a single monthly payment may be helpful for you, it can be damaging to your credit score.

Generally, companies that offer debt consolidation loans will have to pull your credit report. This means you will have a hard inquiry, which as previously mentioned can lower your credit score.

Paying off mounds of credit card debt can be a daunting task. By doing this on your own without the help of a consolidation loan, you can avoid affecting your credit in a negative way. Meeting with a financial advisor is a great way to get a plan of action when attempting to pay off debt.

Focus on Keeping Your Credit Score High

Getting low-interest rates on loans and increasing your buying power is easy with good credit. Now that you know what hurts your credit score, you can avoid making these mistakes. Keeping your credit card utilization low and your savings high can benefit you and your family.

Looking for more information on paying off your debt? Be sure to check out our article on how to create a debt avalanche.