Personal Finance

Did you know that more than 66% of all bankruptcies are related to health issues (medical debt or extended time off from work) and more than half a million families declare bankruptcy due to medical debt each year? These numbers have skyrocketed over the past several years as healthcare costs continue outpacing inflation – and wage growth – and people increasingly find themselves stuck with medical bills totaling thousands, if not tens of thousands of dollars. While your next hospital bill may not be the straw that bankrupted the camel’s back, getting hit with an unexpectedly high medical bill can nevertheless pose a serious dilemma for most folks’ finances. The prospect of even a 3-figure medical bill can be alarming … Read more

Whether you’re just starting out in an entry-level career in your 20s or preparing for the final years of your career in your 50s, retirement is one of the most important financial goals anyone can have at any point in their adult lives. Marriage is also another goal that many people share, but unfortunately, research has shown that 40% of marriages will likely end in divorce. But, how much does divorce hurt your finances? This means your goals for marriage and retirement could potentially conflict with each other, as new research from Boston College recently found that divorce is almost as bad as the Great Recession when it comes to the impacts it could have on your retirement savings. Not … Read more

When it comes to saving money and striving towards financial independence, impulse spending habits are some of the biggest obstacles preventing you from achieving your goals. Impulse shopping problems typically start out small: $5 purchases here and there. But then they progress into more frequent and costly purchases, as we grow increasingly desensitized to those small expenses until we’re spending hundreds of dollars per month (or week) on things we don’t really need. The problem is, human beings aren’t too great at differentiating between wants and needs. We’re psychologically driven to keep up with the Joneses by comparing ourselves to other people and buying more things, paying for more experiences to make up for any gaps between our happiness and … Read more