How a Healthcare Savings Plan Can Prepare You for Future Medical Costs

Posted Under: Blog, Coronavirus (COVID-19), Financial Education

Medical costs are growing faster than inflation, and statistics bare a bleak picture of how medical debt can impact your quality of life. According to Lending Tree, 37% of consumers currently have outstanding healthcare bills. In 2019, The American Journal of Public Health reported that 66.5% of bankruptcies resulted from ...

When to Ask for Debt Relief Help

Posted Under: Blog, Debt Relief

Financial distress does not discriminate by age, level of education, or income. Instead, it is often brought on by unforeseen circumstances that strain your finances for an extended period of time. For example, a job loss or healthcare emergency can mean months or even years of living in survival mode. ...

Tips on Acting Fast When Finances Don’t Improve

Posted Under: Blog, Coronavirus (COVID-19), Financial Education

Covid-19 created financial challenges for millions of families. Job losses, reduced hours, and mandatory stay-at-home orders impacted nearly every aspect of life, including the family finances. However, asthings return to normal, there is the hope that your financial well-being will also follow. But what happens when it doesn't? [personal-range-1332] Here ...

Post-Pandemic Budgeting Strategies: Work-Related Expenses

Posted Under: Blog, Budgeting, Coronavirus (COVID-19)

Working from a home office created new dynamics for families across the country. You had to figure out how to work, live, and take care of children from your home. As things begin to reopen and the pandemic fades into the rear-view mirror, bosses are calling workers back to the ...

How Micro Expenses Can Destroy Your Finances

Posted Under: Blog, Coronavirus (COVID-19)

On your way to work, you pick up your favorite cup of coffee at the drive-through,$4.50… Getting gas at a convenience store, you run in a grab a drink and a few snacks, $8.20… Co-workers gather for lunch at your favorite watering hole, $12.00… Meandering through the grocery store, you ...

How a Mid-Year Budget Adjustment Can Build Wealth

Posted Under: Blog, Budgeting

The purpose of a budget is to serve as a guide for spending. You establish benchmarks in each major spending category and then review the budget periodically to determine if your budget is accurate to your actual spending habits. Too often, a budget becomes hypothetical,and after its creation,it sits in ...

Post-Pandemic Budgeting Strategies: Vacations and Holidays

Posted Under: Blog, Budgeting, Coronavirus (COVID-19)

Grounded flights, closed hotels, and canceled cruises meant most families had to abandon vacations and alter travel plans throughout 2020. Stay-at-home orders issued due to COVID-19 decimated tourism and, with it, the travel industry. Tourism-dependent companies experienced some of the most significant harm as a result of the pandemic. The ...

Post-Pandemic Budgeting Strategies: Transportation Costs

Posted Under: Blog, Budgeting, Coronavirus (COVID-19)

Transportation options changed dramatically during the pandemic. Many cities shut down trains and buses or limited capacity. Work at home mandates eliminated the commute for office workers. Gas prices fell due to a decrease in demand. However, not everyone saved money or saw any meaningful relief. Transportation Costs During the ...

Post-Pandemic Budgeting Strategies: Housing and Utilities

Posted Under: Blog, Budgeting, Coronavirus (COVID-19)

When the COVID-19 pandemic shut down the economy in March 2020, Congress stepped in to provide an abundance of relief for essential costs like housing and utilities. Families could skip housing and utility payments due to moratoriums on evictions, foreclosures, and utility shut-offs, without any immediate consequences. By May2020, nearly ...

Post-Pandemic Budgeting Strategies: Food Costs

Posted Under: Blog, Budgeting, Coronavirus (COVID-19)

Between June 2019 and June 2020, the cost of groceries increased by 5.6%, the biggest increase since February 1974. Beef prices rose 25.1%, poultry increased by 8.7%, and eggs saw a jump of 12.1%. Experts blame four key areas: The immediate shift to in-home meal preparation in March 2020. Higher ...