The Power of Disposable Income
How would your daily life change if you had more money in your accounts every month?
If you’re struggling to make ends meet because you owe too much on credit cards or
other debts, you may have spent time already thinking about what you would do with
some extra cash. But, having more disposable income each month could benefit you in
ways you haven’t even thought about.
Is Your Debt Affecting More than Your Disposable Income?
When you owe more in debt than you can afford to pay, it’s stressful. You probably want
to satisfy your creditors, but there’s just not enough money to make all of your payments
and still make ends meet. If you are the primary breadwinner in your household, you may
feel the weight of daily creditors’ calls and collection letters. But, that financial stress can
also negatively impact your marriage, your family – even your health.
Don’t Fall Victim to Teaser Credit Card Traps
“Zero percent interest for a year!” “No interest on balance transfers for six months!”_
These types of credit card offers can sound appealing, especially if you are carrying hefty
balances on your existing credit cards with 19%, 24%, or even higher interest rates.
However, don’t be lured in by these types of teaser rates and promotions; chances are,
you’ll just find yourself trapped in the debt cycle with your new credit card company…
Consumer Debt in America Reaches a New Peak
While the overall U.S. economy appears to be on an upward trajectory and stock markets
are enjoying record returns, the news isn’t so rosy when it comes to Americans’ debt loads.
According to the quarterly “Household Debt and Credit Report” released by the Federal
Reserve Bank of New York in November 2017, both total household debt and credit card
debt reached new peaks during the quarter, while delinquency rates continued to rise.
Bankruptcy May Be Your Worst Option
Bankruptcy Will Follow You for Years First if you declare bankruptcy, it will be noted on your credit report for a full ten years. This can severely impact your ability to get additional credit during that time, it could make it harder to get approved for an apartment lease and could even impact your ability […]Read More
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