These Numbers Should Make You Mad and Get You Motivated

It seems like a national epidemic… One of the biggest challenges that people face today is dealing with their personal debt. According to NerdWallet the average American family has $16,748 worth of credit card debt, $176,222 worth of mortgage debt, plus an auto loan debt of $28,948. All of this is on top of $49,905 worth of student loans (almost $25,000 per adult)!

According to Federal Reserve data in 2014 the Median household income was $53,718 and it rose to $56,516 in 2016. Unfortunately, that is the most recent data we have, but even if median household income rose to $60,000 in 2016 that is a lot of debt to be carrying on that amount of income.

How to Manage Your Debt

Most people hate, hate, hate the word budget and everything it stands for. For budget haters, curbing spending habits feels very restrictive. However, this is the wrong way to look at it in terms of debt. Having a budget means you always have money. At least that’s the goal.

5 Tips for When Money is Tight

Money problems cause stress in the home and they can lead to tension and even divorce if they continue too long. Don’t ignore financial problems. Instead, adopt a proactive attitude that puts you in charge of your future. Learn from the following tips to get the help you need right now.

Breaking the Budget Bonds: How to Free Up More of Your Finances

If you’re like most people, you realize that you put a budget in place to limit spending and to reach other financial goals of saving money or paying down debt. Of course, like most people after living on a budget for a while, you may find that although it does help you save and get rid of debt, it doesn’t make life a whole lot of fun.
The answer to this dilemma is not to change your budget and reduce your savings, it’s to change your bills to free up more of your money. Use these tips to help get more freedom in your budget.

Budgeting for Wants Not Just Needs

For many people, the idea of being on a budget is about as appealing as being on a strict diet. After-all who wants to cut out everything you enjoy? This not only sounds miserable it leads to unsuccessful budgeting for most people. The science of behavioral finance is gaining ground as a way of increasing financial well-being by creating a more reasonable approach to budgeting without the harsh cutbacks.

What Adopting a Pet Means For Your Finances

Pets of all kinds can have an extraordinary effect on human beings. They offer love and companionship and will thrive on yours in return. However, they’re also expensive. Before you adopt a new pet into the family, make sure that you understand the financial consequences to your budget before you join one of the 62% of American households with a pet.

5 Things Most Families Forget When Budgeting

If you want your family budget to work for you, it’s important to take a little time to set it up right. A budget that works, doesn’t leave you feeling shackled or struggling to make things fit, but instead gives you a better sense of security and control.

Money Mastery: The Necessity of a Household Budget

No one enjoys making a family budget… establishing a household budget can be stressful, time consuming and cause friction among family members with differing opinions on where to spend your limited resources. But unless you have unlimited money, budgeting is a necessary task to ensure you and your family keep your spending within your means. The fact that even celebrities and lottery winners have declared bankruptcy indicates that even if you have a very large disposable income you still need to live within your means.