People can be very careful with their money, but there are a few very common ways that people easily waste it. Here are three of the most common: 1. Not having a budget. One of the simplest and best ways to manage your money is by having a budget and sticking to it, yet the majority of adults do not have one. In fact, 56 percent of Americans don’t. 2. Going out to eat too often. Who doesn’t enjoy going out to eat?! It’s quite common in our society and perfectly fine to do – unless we spend too much dining out every month. This may be the biggest overspending category for the average person. 3 ..read more

Creating goals is essential for us to achieve financial success. Merely drifting along without any intentional focus won’t get us as far.  What goals have you created for your money, credit or debt this year? A goal without a plan is just a wish, so be sure to have a specific plan and write it down. Creating a goal to save $25 per payday is better than a more general goal just to “save money.” Writing down your goals has been proven to be more successful than just trying to remember them. Post your goals wherever you can see them as a continual reminder to help you stay focused and on tra ..read more

“How can I improve my credit score?” is something that we hear very often. We could write pages and pages of information on this topic. But these are perhaps the two best things you can do to improve your score: #1 Pay on time and keep paying on time. This is 35% of your credit score. #2 Knock down your debt. How much you owe is 30% of your credit score. There are multiple factors that go into a credit score, but these two factors total a whopping 65% of your score! So be sure to always pay on time and to pay down your debt. As you pay your debt down, your score will go up. For more strategies ..read more

According to WalletHub, around 40% of the major retailers offering 0% financing use a potentially dangerous feature called deferred interest, which has the potential to make holiday purchases up to 27.5 times more expensive than expected.  Let’s say you buy a $2,000 bed on sale for only $1,200 with the promise of “no payments, no interest for 12 months!” Is it a good deal? Yes, if you pay off that $1,200 bed within those 12 months, as you won’t pay any interest. However, some people don’t pay anything during those 12 months because they don’t have to. Then many are surprised to discover t ..read more

The U.S. economy is in the worst shape in 40 years and financial experts expect it to worsen in the coming months. Do you have a plan to help you financially navigate 2023? A few helpful tips: 1. Record your goals. People often have hopes and dreams, but don’t write those down and commit them to action. As the saying goes, “If you aim at nothing, you’ll probably hit it.” It’s true — if we are proactive and make a written plan for the year, studies have proven we will be much more likely to achieve those goals and enjoy the financial freedom that will come with it. 2. Be specific. A goal to “sa ..read more

Some experts say that we are already in a recession, while others say we are just months away from one. Regardless, holiday spending will still continue. How can you enjoy the holidays, but avoid overspending, especially during an unstable economy? 1. Always create a holiday budget so you know how much you can afford to spend. Don’t forget to include non-gift items, such as decorations. Some people budget a lump sum, while others may focus on a certain dollar amount each payday that they can afford to spend. However you do it, just be sure to figure it out so you can avoid a holiday spending h ..read more

Why is it that Christmas always falls on December 25, but it often just seems to catch us off-guard with our holiday planning, saving and budgeting? It might only be September, but now is a good time to start looking at your finances to calculate how much you can afford to spend this holiday season. Some people budget a certain amount per pay period for holiday spending, while others may calculate an overall total amount that they can afford. Whatever works for you. What doesn’t really work, however, is doing what many people do – start spending and then hope that it doesn’t mess up their fina ..read more

Credit card debt is once again on the rise. In fact, it’s greatly increasing, perhaps largely due to the sharp increase in inflation which has been greatly hurting family budgets.  Using a credit card is fine, of course. However, accumulating debt and watching it increase month after month is something best to be avoided. It’s easy for us to simply put things on a credit card. However, steadily growing credit card debt isn’t really dealing with the issue in the best possible way. Take a look at your spending. Track your spending for one month and break it down into categories, such as ent ..read more

Taking on more and more debt, while still paying on-time monthly payments, is not a healthy situation. It’s actually referred to as a “Debt Spiral.” Sometimes people add to their credit card debt because of an emergency which they don’t have the savings to pay for, such as car repairs. Other times, people rack up more credit card debt and don’t feel very concerned about it because they make a good income and feel that they can afford it. However, a debt spiral is going in the wrong financial direction. Life happens, and someone who can easily handle a lot of debt might hit a financial bump in ..read more

Gasoline prices continue to hurt a lot of people at the pump as it continues skyrocketing. With gasoline currently averaging $4.126 a gallon in Arkansas (as of today, 5-19-22), it’s an enormous financial strain on many households. Add to that the worst inflation in 40 years and the end result is many more people are now living paycheck-to-paycheck than they were at the start of this year. How can you lessen some of your financial pain at the pump? Watch your speed. Traveling at 65 mph instead of 55 mph can use up to 17% more fuel. Going 70 mph instead of 60 mph can use up to 23% more ..read more