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The debt service coverage ratio (DSCR) is an important metric for small business owners that measures the company’s ability to pay its debts. Keeping track of your DSCR can help you gauge how financially sound your business is, as well as your eligibility for financing options. Whether you’re just starting out or your business is […]
What Is the Debt Service Coverage Ratio (DSCR)? Read More »
Consumer spending habits are an important measure of economic activity, but these trends are not necessarily in lockstep nationwide. One way to observe where consumers are spending more than they did last year is by looking at the debt they’re carrying. This includes their credit card balances as well as the total amount of minimum
Credit Card Balances Are Growing the Fastest in These 20 Cities Read More »
Credit card balances are increasing for just about everyone, but younger consumers are seeing average balances spike faster than others, Experian data shows. As of June 2024, average credit card balances for millennials have grown by 8.7% to $6,819 and by 8.2% to $3,407 for Generation Z consumers annually, outpacing the balance growth among older
Cities Where Millennials and Gen Z Have the Highest Credit Card Debt Read More »
A qualified, objective credit counsellor at a non-profit agency is a great person to walk you through your debt-relief options https://financialpost.com/personal-finance/if-youre-in-a-payday-loan-predicament-here-are-some-options-to-solve-it #financialfreedom #money #entrepreneur #business #finance #investing #financialliteracy #success #investment #wealth #motivation #financialindependence #passiveincome #personalfinance #realestate #stockmarket #debtfree #entrepreneurship #invest #bitcoin #creditrepair #debtfreecommunity #investor #trading #workfromhome #stocks #credit #financialeducation #bhfyp
If you’re in a payday loan predicament, here are some options to solve it Read More »
Sandra Fry: Taking proactive steps to manage your debt will ultimately prove valuable for your long-term financial stability and overall well-being https://financialpost.com/personal-finance/debt/3-reasons-why-not-worth-waiting-deal-debt #financialfreedom #money #entrepreneur #business #finance #investing #financialliteracy #success #investment #wealth #motivation #financialindependence #passiveincome #personalfinance #realestate #stockmarket #debtfree #entrepreneurship #invest #bitcoin #creditrepair #debtfreecommunity #investor #trading #workfromhome #stocks #credit #financialeducation #bhfyp
3 reasons why it’s not worth waiting to deal with debt Read More »
The avalanche and snowball methods are two debt payoff strategies with the same goal but slightly different approaches. The method that works best for you will depend on how you prioritize paying off your debts: Do you want to get rid of debts with the highest interest rates first or pay off individual debts as
Debt Snowball vs. Debt Avalanche Method Read More »
Despite student loan repayments on federal student loans resuming late last year, there’s much that’s still up in the air with student loan debt. Some loans have been forgiven, and more than a few borrowers have received incomplete, contradictory or confusing information about their loans. With that large caveat, average student loan balances are continuing
Average Student Loan Debt Declines in 2024 Read More »
A balance transfer credit card or debt consolidation loan can help you combine debts and save on interest while paying off your balances. Neither is necessarily better than the other in every situation, and comparing the two can be important if you’re trying to strategically pay off debt. Which option is right for you likely
Balance Transfer vs. Debt Consolidation Loan: Which Is Best? Read More »
Watch: Personal finance expert Kelley Keehn unpacks the latest budgeting hacks and more https://financialpost.com/personal-finance/budget-trends-save-you-money #financialfreedom #money #entrepreneur #business #finance #investing #financialliteracy #success #investment #wealth #motivation #financialindependence #passiveincome #personalfinance #realestate #stockmarket #debtfree #entrepreneurship #invest #bitcoin #creditrepair #debtfreecommunity #investor #trading #workfromhome #stocks #credit #financialeducation #bhfyp
The $1 rule, reverse budgeting: Tips and trends that could save you money Read More »
Sandra Fry: Here are 5 tips to help you host a memorable, yet cost-conscious, event https://financialpost.com/personal-finance/food-inflation-add-stress-long-weekend-party #financialfreedom #money #entrepreneur #business #finance #investing #financialliteracy #success #investment #wealth #motivation #financialindependence #passiveincome #personalfinance #realestate #stockmarket #debtfree #entrepreneurship #invest #bitcoin #creditrepair #debtfreecommunity #investor #trading #workfromhome #stocks #credit #financialeducation #bhfyp
Don’t let the rising cost of food stop you from hosting a party this summer Read More »
I recently completed three of the top Christian financial education programs for churches: SeedTime’s True Financial Freedom, Dave Ramsey’s Financial Peace University, and Crown Financial’s MoneyLife. These popular programs all claim to help you get control of your finances from a biblical perspective. However, they go about it in different ways with varying teaching styles
Financial Peace University vs. True Financial Freedom vs. Crown Financial MoneyLife Read More »
The media is having a hard time nailing down the financial vibes of the youngest generation of consumers—Gen Z. You might see Gen Z described as financially unsure and insecure, knee deep in debt or even more spendy and carefree than the avocado toast generation that preceded them. Despite the commentary, however, Experian data shows
Gen Z Credit Scores on the Rise Along With Debt Balances Read More »
Almost a third say they don’t pay off their bill in full each month https://financialpost.com/personal-finance/debt/more-canadians-rely-credit-essentials #financialfreedom #money #entrepreneur #business #finance #investing #financialliteracy #success #investment #wealth #motivation #financialindependence #passiveincome #personalfinance #realestate #stockmarket #debtfree #entrepreneurship #invest #bitcoin #creditrepair #debtfreecommunity #investor #trading #workfromhome #stocks #credit #financialeducation #bhfyp
More Canadians relying on credit for everyday essentials, says report Read More »
Paying down debt on a low income can be a daunting task. While there may be circumstances outside of your control, these steps can help you take stock of your situation and determine the best course of action for you, including tackling your debt on your own or seeking help. 1. Take Inventory of What
How to Get out of Debt on a Low Income Read More »
Money is great, but it can also create awkwardness among friends, colleagues, or even strangers. In this post, I want to share an awkward money situation that dragged on for months. In the end, the money situation was resolved. However, it made me realize that we personal finance enthusiasts are an unusual bunch. It also
An Awkward Money Situation Reveals An Uncomfortable Truth Read More »
We’re more than a third of the way through 2024, and persistently high inflation continues to have a significant impact on household budgets and financial markets. Staying on top of the latest financial trends can help put your personal situation in context and make necessary adjustments to your spending, saving and other financial goals. Here
Financial Trends for 2024 Read More »
If you’ve been contacted by a debt collection agency about a debt you may owe, it’s important to understand your rights. Debt collectors are required by law to validate certain details about the debt in question to help you determine whether it’s really your responsibility. Debt validation letters provide these details, along with instructions on
What Is a Debt Validation Letter? Read More »
Debt consolidation programs can help you streamline your repayment plan and even reduce interest and other costs. Options include a debt management plan, a debt consolidation loan and debt settlement. The right one for you will depend on your credit score and how dire your debt situation is. Here’s what you need to know. What
How Do Debt Consolidation Programs Work? Read More »
Sandra Fry: It’s tempting to treat a tax refund like a surprise windfall, but it’s worth putting your money to good use https://financialpost.com/personal-finance/debt/smarter-ways-put-your-tax-refund-work #financialfreedom #money #entrepreneur #business #finance #investing #financialliteracy #success #investment #wealth #motivation #financialindependence #passiveincome #personalfinance #realestate #stockmarket #debtfree #entrepreneurship #invest #bitcoin #creditrepair #debtfreecommunity #investor #trading #workfromhome #stocks #credit #financialeducation #bhfyp
Smarter ways to put your tax refund to work Read More »
Getting divorced can be challenging in just about every way possible—especially financially. One complication divorcing couples may not be prepared for is how their state treats dividing assets and debts. In most states, you’re generally only responsible for credit card debt in your name when you end a marriage. However, you may be responsible for
Who Is Responsible for Credit Card Debt in a Divorce? Read More »
