Finance

Halloween Spending Statistics: Are you being Tricked?

Halloween Spending Statistics: Are you being Tricked?

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Pumpkins? Check. Fake skeletons? They're in the cart. What else should be on the list? Even after grabbing just a few items of gory decor, the costs quickly add up. Are you being tricked? View the most recent Halloween spending statistics to find out. Halloween 2019 expenditures A 2020 poll showed that only 58% of Americans plan to partake in Halloween activities this year. Yet, the economy expects a surge of expenditures as high as $8 billion. The figures make sense until you compare the Halloween spending statistics of 2019. Last year, 68% of Americans participated, spending $8.8 billion.  Why is there...
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Build Wealth Quickly with an Aggressive Saving Strategy

Decrease Debt Faster With an Aggressive Saving Strategy

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We all want to conserve for the future. Additionally, we strive to grow revenue and perhaps retire early. Living with financial freedom is as quintessential as pursuing happiness. Yet, none of it starts without a plan. To build wealth quickly, we must use an aggressive saving strategy. Then from there, we can make smart investments, such as paying ourselves first.    How does an aggressive saving strategy differ from a regular budget? While figures in a typical monthly budget shift periodically, an aggressive saving strategy remains static. Sometimes referred to as a radical savings plan, participants continue to increase the gap between income...
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What Part Do You Play in a Gig Economy?

What Part Do You Play in a Gig Economy?

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Roughly 70 million people have a side hustle. Self-made entrepreneurs participate in jobs ranging from photography to food delivery. In today's gig economy, what part do you play? What is the definition of a gig economy? A gig economy refers to the abundance of contract workers who take jobs on-demand. To make ends meet, people have either cut their monthly expenses or increased their income by freelancing. The "gigs" equate to small, temporary jobs, such as delivering groceries or providing a Lyft. However, it's quick, legitimate money for someone in need.  Fifty-percent of Millenials have a side hustle. Additionally, those on the...
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Money Advice From a Successful Hispanic Entrepreneur

Money Advice from a Successful Hispanic Entrepreneur

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National Hispanic Heritage Month honors the cultures and history of both Hispanic and Latino Americans. Each year, from September 15th to October 15th, we celebrate the contributions of those from Spain, Mexico, the Caribbean, and Central and South America. This article will highlight the story of a successful Hispanic entrepreneur and the journey he took to gain prosperity. Learn what this Columbian-born millionaire thinks about money, business, and of course, dancing.  Beto Perez had impoverished beginnings As the creator of the highly energetic dancing workout, called Zumba, Beto Perez retains a $30 million net worth. He is world-famous and considered...
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How to Apply for Federal Student Aid

How to Apply for Federal Student Aid

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As the current job market transitions from in-person to remote, many are called to learn new skills. Colleges have noticed a shift in preference and an uprise of interest in computer-related degrees. Since the average Associate's for Information Technology costs $18,000 a year, federal student aid applications seem almost standard. What types of student loans are there? And what should you know before you apply? Find out the answers, as well as helpful tips for first-timers below. How old do you have to be to apply for federal student aid? To apply as an independent student, the applicant must be...
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FTC Warns About the Rise in Work-at-Home Scams

Don’t Fall Victim to Work-at-Home Scams

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There's a phone call. A friendly voice wants to follow up with your application. The person lists their credentials and states that they're interested in hiring you. It's one of the most common work-at-home scams encompassing our economy. Essentially a phone phisher, they promise a job you can perform in the comfort of your home, as long as you answer a few questions first.    The FTC warns about giving personally identifiable information (PII) over the phone. While there are legitimate companies that conduct telecom interviews, there are very few instances when they take your social security number at the...
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How to Negotiate Car Financing For a Better Deal

How to Negotiate Car Financing For a Better Deal

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Imagine you're sitting in an office at the dealership, and the sales associate returns with bad news. They don't have the authority to complete the deal without approval from the finance manager. You know they are going to ask you to provide more money per month; or a larger down payment. If only there were a way to save time and negotiate car financing like a pro. While most of us have been through the hassle of buying a new car at least once, not everyone understands the complete process. Even if you prefer to shop a used vehicle, negotiating...
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Cut Monthly Expenses with 6 Simple Tricks

Creative Ways To Cut Monthly Expenses

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It's a common desire to want flexibility within our budgets. Households all across the United States either want to increase their intake, cut monthly expenses, or in best-case scenarios, both. What if we told you that a slight change in behavior would go a long way? How's an extra $1200 left in your budget every year sound?  What mastering the "latte factor" does for your budget As we begin this article, we'll get the most obvious way to cut monthly expenses out into the open. The "latte factor" regards to the appeal presented by drive-thru coffee. As mentioned before, skipping...
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Essential Sinking Fund Categories to Use in Your Budget

Essential Sinking Fund Categories to Use in Your Budget

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Everyday life requires its own set of quintessential purchases. There are things that every budget should account for, like food, water, and shelter. Additionally, there must be a plan for occasional spending on higher-priced items, such as cars, washing machines, and other primary goods. While sinking fund categories vary from household to household, the steps to obtain the resources are mainly the same.  Why Do I Need a Sinking Fund? A sinking fund is necessary because it keeps people out of financial hardship. Instead of being caught off guard, the household creates a plan to save for larger purchases. For...
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good credit

Help Your Teen Establish Good Credit

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If you think showing your teenager how to balance a checkbook is hard…try explaining how to maintain good credit! Ah, the joys of adulting. Many adults don’t quite understand the intricacies of the credit system. So, the idea of breaking it down where a teenager can grasp the intricacies is laughable. Yet, it must be done! Otherwise, your impressionable teen may fall into a very expensive trap when they turn 18. As of 2018, the average American carries around $90,000 in debt (1). Of that debt, the average credit card debt is around $6,849 (2). Yikes! That’s not even taken...
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