The changing dynamics of the world might have led Americans to change many things, but saving habits is not one of them. According to the Atlantic, nearly half of the US citizens do not even have $400 in their accounts as a reserve in emergencies. These statistics are bleak and point to a grave financial situation that we all find ourselves in. Saving rates in many of the developing economies of the world, including Australia, New Zealand, Japan, and European countries, have been increasing steadily. However, America is not one of them.
The Covid-19 pandemic locked most of the Americans in their homes, and with traveling, dining out, and other activities outside their families came to a static halt, it appeared that we were saving more. The savings aggregate improved for a few months. Still, while talking to CNBC, financial experts reported that the current trend might have significantly less or no lasting effects on Americans’ saving habits.
Our poor saving habits...
The holiday season is here.
All of us are in a shopping frenzy, getting that last minute booking and a special present before the season begins officially. This year, the meaning of getting gifts for our loved ones might have changed a bit. Many of us decided to shop online and avoided social contact as a result of the pandemic.
On the bright side, holidays are still the same. We love shopping, whether in-store or online.
Christmas is by far the most popular holiday in the US. And so, as expected, spending patterns and bills at this time of year around are usually quite noticeable for each household. The tradition of exchanging gifts is a warm gesture that improves family ties within family and friends. However, it can quickly turn into a financial burden if not planned ahead of time with a prudent approach.
According to Investopedia, the average American is expected to spend $998 on gifts and holiday items in 2020, which is only $50 less than last year's...
This is your life's dream, to become an entrepreneur. You want to leave your 9-5 and achieve your dreams. You know that the journey, the endless hours and sacrifices will be worth your time because, in the end, you will achieve financial freedom.
But with entrepreneurship comes some risks. Most businesses don't reach the 5-year mark. Why? Because of mistakes that have caused them to fail.
Today I am going to show you the 16 biggest mistakes new entrepreneurs and business owners make and how to avoid them.
Not Doing Research
Before going into business, you have to do your research. Is your product needed in your current market? Do I know who is your ideal audience or client? Who is your competition? Trust me, you do have one.
Make sure to do your research prior to spending a cent on anything else. What is the point to start a business where no one needs your product? Create momentum for your product with your potential clients even prior to spending anything.
Not Having a...
Did the holidays leave you with a debt hungover?
Are you regretting spending all that money on buying all those gifts? Are you in fear because you don't know how to manage your debt?
According to a survey made by Mr. Cooper (mortgage company), " one-third of Americans wished they could have skipped the holidays rather than spending it on gifts." Also added, "Thirty-two percent of Americans who purchased holiday gifts paid with credit cards."
I'm going to give you seven steps to manage your holiday hungover and do damage control right away.
Step One: Stop The Regrets
The first step to getting rid of your debt hangover is to stop with the guilt, the blame, and the regrets. It is time to shift your focus from debt to solutions.
Step Two: Track Your Spending
Yes, it is time to tight up for a bit and track all of your spendings. This will require creating a budget or spending plan. Don't know how to do this? If you want more information about how to get back on...
The Holidays are around the corner, and the temptation of commercialism and marketing, decorations and more are going to be influencing us.
All the stores get decorated and the holiday spirit is in the air. But that also means that everyone is in the spending mood, and therefore we need to make sure that we don't overspend.
What we want to do is follow specific steps to avoid overspending. The first thing that we need to understand is that the Holidays is not about spending and buying gifts. The most prominent meaning is to spend quality time with people that you love, friends and family.
However, we understand that it is difficult to avoid seeing the newest items and latest technology coming out and influencing us to spend more. And don't forget that is a commerce tactic to be able to keep the economy above.
So what can we do to protect us from the influence and avoid overspending? How to prevent the hungover in January...
Just fill out your information below and I will take care of the rest...