Debt can be a useful tool, but other times you can get stuck in the debt trap. Sometimes debt keeps you in a continuous cycle where interest compounds and it seems like you'll never escape. So what are some of the ways that debt traps you?
Interest is a parasite that you...
The amount someone needs to retire depends on a lot of factors like how old you are when you retire and how much you spend in a typical month. In most cases, you'll need at least $500,000, but generally you'll want more than that. If you want to make $40,000 a year in retirement, you'll need around...
Credit scores range from a low of 300 to a max of 850 and most people lie somewhere in between. However, there are a few people, approximately 30,000, who have the lowest credit score possible. In most cases, having a credit score of 300 is the opposite of desirable and makes it nearly impossible t...
You just got your degree, now what? In most cases, you're either going to begin working or pursuing another degree. If you're one of the many who are looking to work afterwards, it can be difficult to find the right job after college. 53% of graduates are either unemployed or working in a job that ...
Are you currently strapped for cash? A lot of people are starting to feel the squeeze on their wallets. Maybe that's why 49% of Millennials have a side hustle. You may not even be that strapped for cash, but still want some extra money to spend. A side hustle can be an easy way to make that extra m...
During September, the unemployment rate was 5.2%, which is still considerably higher than the pre-pandemic level of 3.5%. In such time the inflation rate (CPI) reached the 13 years high of 5.4%. Is this high inflation rate unfavorable for the economy? Or is there any relation between inflation and ...
Today, many people value hard work to the point of exhaustion, and they can end up getting burned out. While it may seem valiant to work long days and you feel like you're getting a lot done, it can have adverse effects on your health. This can affect your overall productivity&...
Building a career is at the forefront of every individual's agenda during their professional journey. One such group of professionals is those who carry student debt going into the workforce. Bridgewater Associates' Chief Diversity Officer observed that a higher-paying job is especially attractive ...
Meet Tom, a 40-year old who has been working in healthcare for the past 10+ years. Tom doesn't feel satisfied with his job, but it's all he knows. He thinks to himself, "There's no way I can change careers now. It's too late for me, besides what would I even switch to?" If this sounds lik...
As a general rule you if the money you save has a higher return rate than debt, you should save money; and if the interest of your debt is higher, you should start paying off debt.
Usually one does not have only one type of debt but different such as credit card debt, mortgages, student debt, car lo...
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