Did you know that 4 out of 5 American adults are faced with economic uncertainty at some point in their lives*? That’s 4 out of 5 people that live and work where you live and work…maybe even including you and your family. Money problems are not something to shy away from, but rather tackle head on. Here are the top three money problems that American’s face:
- Problem #1 – I just can’t make ends meet every month comfortably. As the number one money problem in America, if you worry about meeting your regular financial obligations (i.e..bills, mortgage, rent, ect.) you are not alone. To start tackling this problem, make a list of all of your bills. Prioritize by wants vs. needs, and you may be surprised of the things you could cut from your list of bills, at least until you get back on your feet.
- Problem #2 – Thinking too short term. While it is only natural to be thinking about this month’s expenses vs. saving for five years from now, it is important to incorporate some form of savings into your monthly budget. No matter how small, getting in the habit of even putting away $10/month will add up and lead to a larger monthly allowance for savings as you get into a better financial place.
- Problem #3 – I have too much debt. When asked what they would do with a free 10k, 41% said they would pay down debt. A high dollar amount of debt is concerning to many Americans, but there are solutions. Debt consolidation options and debt management tips and advice are only as far away as your local credit union! Consolidating your debt into one more manageable payment and then being disciplined to stay on track with a new debt plan will get you out of the debt hole faster than you think!
The biggest
point we can emphasize is don’t hide from your financial concerns, but rather
come down to your local credit union for some free, unbiased, responsible
advice and solution options! We want to
get you in the best financial situation possible!
Don’t forget
to follow us on twitter @honorcu and let us know what you want to hear about
next week using #askhonorcu!
*Source -
http://www.usatoday.com/story/money/personalfinance/2014/09/20/wall-st-cheat-sheet-money-problems/15832929/
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