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How to Teach Your Kids About Credit Cards

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On the surface, credit cards seem pretty straightforward: You use your card to purchase items and then pay the balance at the end of the month. But as many of us have learned the hard way, using credit can be all too easy, and you can go into debt quickly. Understand how credit works. It’s not free money.

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30 New Year’s Resolution Ideas to Make 2024 Healthier, Happier & More Secure

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Learn a new skill. Online personal development courses can help you build inner peace and soft skills. Empower yourself to live debt-free by paying down high-interest debts such as credit cards. Improve your credit score. Strive for quality sleep. Try to get seven to eight hours of quality sleep per night.

2024 296
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The Biggest Financial Mistakes to Avoid in Your 20s

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Not to mention, low wages, staggering student debt and compounding credit card debt. In the long run, this ignorance is bliss mentality only leads to more problems, whether it’s mounting credit card debt or puny retirement funds. But none of these wealth moves are possible without acquiring the right skills first.

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A Millennial’s Guide to Finances: 5 Things to Start Before You Turn 30

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However, important skills like when and how to manage your finances don’t come naturally to many. Drew Parker, creator of The Complete Retirement Planner, encourages young adults to check their credit score each year, aiming for that sweet spot of 720+, where you will receive the best loan, mortgage and credit card rates.

Finance 280
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Lessons From Past Recessions

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How much debt do I have (credit cards, student loans, car loans, mortgages, etc.)? Although it’s an extra challenge, and both may take more time, wiping out as much of your credit card or auto loan debt as possible while building a savings account can help you avoid going further into debt if layoffs become more frequent.

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How Employers Can Better Serve Neurodiverse Employees in 2023

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“She’s like, ‘my autism won’t allow me to do that,’” when the company suggested charging expenses to a credit card to then be paid back for travel. She has a real issue with numbers and being organized with her money, and she’s also very scared to get a credit card,” she said.

2023 307
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6 Real-Life Budgeting Tips to Save More Money

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While I’ve been financially frugal my whole life, knowing how to save money is a skill that can be easily taught. I have different credit cards for different rewards, but I only swipe a few of them on a daily basis. I make an average salary. I contribute to my 401(k) monthly. And I travel abroad every three months.

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