The average college senior graduates with credit card debt. How will your kids manage money?
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The average college senior graduates with credit card debt. How will your kids manage money? https://lnkd.in/g4q8HQzg
Do Your Kids Know The Value of a Silver Spoon?
investorion.com
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Have you taught your kids how to manage money? Learning early may help with debt and saving in the future. https://lnkd.in/gm9GAGUb #MoneyManaging #Debt #SavingEducation
Do Your Kids Know The Value of a Silver Spoon?
aspireplanninggroup.com
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Financial Coach | Speaker | Debt-Free | I paid off $55,000 in 3.5 years making under $60,000 a year.
"It's impossible to be debt-free!" A lot of my people feel like it's impossible to be debt-free but I'm here to say that's not true. I paid off around $55,000 in 3.5 years while making under $60,000 at 25 years old. And I'm still debt-free almost 3 years later. Below I'll explain why most Americans are in debt. And strategies on paying it off. So... Why do most Americans have debt? 💎 Easy Access to Credit: Credit cards and loans are readily available, making it tempting for people to spend beyond their means. 💎 Medical Expenses: Healthcare costs in the U.S. can be EXPENSIVE, and even with insurance, medical bills can quickly accumulate. 💎 Student Loans: Many Americans take out loans to finance their education, and the rising cost of tuition has left many graduates with significant debt. 💎 Consumerism: The culture of consumerism encourages people to buy things they don't necessarily need, often leading to overspending and debt. 💎 Low Savings: A lack of emergency savings can force people to rely on credit when unexpected expenses arise. Now that you know this information, how do you pay off debt? 1. Budgeting and having an emergency fund. 2. Living below your means. 3. Limiting credit card usage. 4. Educating yourself when it comes to finances. 5. Avoiding impulse spending. 6. Creating a debt elimination plan. You have the power to take control of your financial future and break free from the burden of debt. With determination, discipline, and perseverance, you can create a path to financial freedom. But you will have to make sacrifices. 😅 ***If you are a woman who is interested in joining a faith-based financial community, feel free to join my free webinar this Thursday, March 28th at 6pm EST by using this link on Eventbrite: https://lnkd.in/eXM-ZatJ. 🤗 This picture was taken at Fenway Park where the Red Sox play ⚾ #financialcoach #debt #debtfree #faith #God #studentloans #money
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You may wonder what a money story is… I use the term a lot because it captures all the things we have going on around money. Your money story is all of the beliefs, programming, emotions, and thoughts about money that you learned from your parents at a very young age – by the time you were 6-years-old. No matter what you try to do about money on the surface, your story will override it. Do you find yourself in debt frequently? If you look back at how your parents were with money, you’ll most likely find that they had quite a bit of fear and anxiety about money. This was THEIR money story. And guess what? You learned to also feel fear and anxiety about money and what better way to experience that then by being in debt repeatedly. This is just one example of what could be going on with you. And debt is just one of the money stories you may have going on. Those feelings of fear and anxiety may have become part of YOUR money story. How do you know what your money story is? Simple. Just look at what’s going on in your money – debt, savings, income, income goals, and toxic money. That will tell you your story.
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You have to have money to make the money, but even a small amount can grow bigger. High earners who spend all their money and run up debt, can end up less wealthy than low earners who consistently save small amounts. Johann Rossouw CIPM, CFP® #SmartAboutMoney #financialeducation #wealthcreation #financialplanning
Small steps, big results: building wealth on any income
smartaboutmoney.co.za
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HOW MONEY WORKS!!! There are 3 categories or class of people based on financial capacity: the poor, the middle class and the wealthy. Each of this class is not determined based on how much you earn but how you manage what you earn and the perception you have about money. The poor perceive money as a tool for paying bills and live from pay cheque to pay cheque even if they have more than one job. They're always in debt and money is never enough as their financial decisions is always wrong due to their priorities and to solve basic needs of food, clothes, cars and shelters. To them, this is a good life. The middle class see money as a means to never get into debt. They work so hard to build a strong credit score and try so well to pay off their debt. They're are generally the Category that get taxed so much as they also earn more. They also pay so much interest through borrowed money from mortgages, car loans and spend so much on frivolities. They have so much savings account which they hope is their emergency funds - no the commercial financial institutions, use the money in their savings accounts to give them loans and they're comfortable happily paying interest on their own borrowed money. Majority of people fall into this category. The last and the minority of this category (less than 2%) are the wealthy (sorry I didn't say rich). The wealthy understands how money works. They understand investments and return on investments. They don't worry about debt as they understand the financial systems enough for the system to pay their debts. They put every money into absolute use to yield more money. They don't save but invests and put system in place to always earn even when they don't work. They earn more and pay way lower taxes in a legitimate way. They travel everywhere not with their own money but the money their shrewd financial decisions give them. They don't spend on frivolities and hardly own a savings account. Which class of financial capacity are you? I teach financial education. Visit my website below to contact me: https://lnkd.in/g9JhvQv4
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Debt doesn't just affect your wallet - it impacts every relationship in your life. From romantic tangles to work woes, navigating debt is crucial for harmony. Learn how to manage your finances and relationships with our tips. #PersonalFinance #Debt #Relationships https://hubs.la/Q02G6kYN0
Love, Money, and Everything In Between: the unexpected impact that debt has on your life
blog.educationfirstfcu.org
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Need some age-appropriate tips for teaching kids about debt and responsible money management? We have all that and more in the latest edition of #MoneyandMore! Click here to view the full article: https://bit.ly/3KE1LzQ #FinancialLiteracy #CommunityBanking #BecauseWeLiveHereToo
How to Teach Children About Debt
ombbank.com
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Are you living paycheck to paycheck, drowning in debt, and constantly stressed about money? You’re not the only one. The number of consumers living paycheck to paycheck reached 62% in November 2023. Among consumers earning less than $50,000 per year, 77% lived paycheck to paycheck, followed by 67% earning $50,000 to $100,000, and 45% earning more than $100,000. https://lnkd.in/eZWMwYZM
Stop Living Beyond Your Means: 14 Ways to Master Your Finances | Entrepreneur
entrepreneur.com
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The simplest way to financial independence And peace of mind... Pay off all your high-interest debt. Personal debt is at an all time high. And it's destroying people's financial, mental, and physical health. I eliminated credit card debt and student loans within a few years by creating a strict budget and prioritizing debt repayment, I did this by: 1. cutting unnecessary expenses 2. cooking at home 3. prioritizing needs over wants Achieving this milestone not only improved my financial stability but also freed up funds for savings and investments, accelerating my path to financial independence. Can't recommend it more. Tell me...are you in debt? #PersonalFinance #Wealth
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