Financial Advisors Shrug Off Fed s Inflation, Interest Rate Forecasts nbcconnecticut.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from nbcconnecticut.com Daily Mail and Mail on Sunday newspapers.
You can go out and splurge a little bit, he said Do it with savings. Don t go into debt for it.
Credit card interest rates are creeping higher, with the average card charging over 16%. If you don t have a great credit score, you can easily be paying 20% to 25%, Rossman noted.
If you do want to spend, do some legwork first to figure out a realistic amount.
List your financial goals on a spreadsheet, including long-term ones like retirement savings, said
Winnie Sun, co-founder and managing director of Sun Group Wealth Partners in Irvine, California.
Once you have that financial goals list, start with a choice that isn t going to break the bank. Save a bit each week or month until you can pay for it.
She and her husband have just over $50,000 in total debt, which includes student loans, medical bills, credit cards and a car payment. She s currently not working and her husband owns a landscaping company.
Bozarth admits she has never been good at sticking with a budget. She and her husband pay bills as they come in and buy stuff when they want. That includes grabbing take-out, buying fountain drinks at the gas station and making purchases on Amazon nearly every day. Those expenses add up quickly, and before you know it, you have spent hundreds [maybe thousands] of dollars on things that weren t necessary, she wrote to CNBC in an email.
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