Credit

What You Need to Know About the New Child Tax Credit

family sitting on a couch

The IRS is sending out letters to more than 36 million families about getting monthly Child Tax Credit payments (as part of the American Rescue Plan) starting in July and lasting through December.

The IRS is sending letters to families who may be eligible for the tax credit based on information provided in either your 2019 or 2020 federal income tax return. Later, a second letter will be sent to eligible families letting them know the estimated amount for each monthly payment. 

How Your Credit Score Impacts Your Financial Wellness

How Your Credit Score Impacts Your Financial Wellness

Your credit score is determined by many factors. It affects just about everything including housing, insurance rates, employment, as well as loan rates and loan eligibility. That’s why knowing what makes your credit score go up or down is important to your overall financial wellness. Here are some helpful tips about how your credit score is calculated, how it affects your life and how to improve your credit score.

5 Reasons We Overspend (and How to Overcome Them)

two women out shopping

We’ve all been there. Maybe it’s that I-gotta-have-it urge that overtakes us when we see a pair of designer jeans. Maybe it’s that shrug as we reach for the $6 cup of overrated coffee that says “I deserve this.” Or maybe it’s that helpless feeling as the end of the month draws near and we realize we’ve outspent our budget again. What makes us overspend? Let’s take a look at five common reasons and how we can overcome them.

The Importance of Being Financially Fit

The Importance of Being Financially Fit

Being financially fit means living a life of complete financial responsibility. The Center for Financial Services Innovation (CFSI) defines four basic components of financial health—spend, save, borrow and plan. These components reference everyday financial activities. Every choice you make in terms of these four activities either builds or detracts from your financial fitness. Like physical fitness, you can beef up those fitness muscles a little bit more each day. Here’s why and how being financially fit is crucial for a well-balanced life.

When Does it Make Sense to Pay a Bill with a Card?

When Does it Make Sense to Pay a Bill with a Card?

Credit cards and debit cards offer incredible convenience, but is it smart to pay monthly bills with them? Choosing to pay a bill with a card can have a significant impact on your general financial wellness—for better or for worse. It’s important to consider the many variables of this decision before going ahead with it. Let’s take a closer look at the pros and cons.

How to Recover from Santa Shock

kids looking santa and reindeer

If you’re looking back on the holidays with dread because of the extra debt, you’re not alone. Here’s what you can do to recover from holiday spending.

Budget Credit Card Debt

Budget carefully to pay down credit card debt as soon as you can. It’s worth it to feel the squeeze for a few months in order to pay off those bills sooner. The longer you take to pay off the debt, the more you’ll be paying in interest.

7 Steps to a Mid-Year Financial Checkup

man with laptop working on mid-year financial checkup

It’s hard to believe, but 2019 is half over. Take a timeout from barbecues and mountain hikes to give yourself a mid-year financial checkup. Use the seven steps below to guide you. 

Step 1: Revisit Your Budget 

Take some time to review your monthly budget. Is it working for you or are you falling behind each month? After reviewing, adjust your budget as necessary.