When you think about your financial situation, you may wonder how you ended up in such a difficult spot. Unfortunately, money issues can affect anyone unexpectedly, even if you have a regular income. You may have ended up in a situation in which your expenses began to exceed your income, and even living paycheck-to-paycheck in efforts to stay on top of things is not an option.
Scammers are targeting people with student loan debt
Many college graduates -- from young adults to those looking toward retirement -- feel like they'll never escape their student loan debt. According to Student Loan Hero, Americans have a cumulative total of over $1.5 trillion. The website says that the average amount of student loans for students who graduated last year was nearly $30,000. It's been estimated that as many as 40% of people with outstanding student loans could default on them by 2023
Can lawmakers help take the sting out of surprise medical bills?
Almost everyone has to deal with a large, unexpected medical bill at some point. A car crash, burst appendix, skiing accident or bout of food poisoning can send you or a family member to the nearest emergency room or urgent care facility. Sometimes, we're taken there by an ambulance or a loved one, and we have no say in choosing our medical provider -- let alone worrying about whether they're in our insurance network.
Your age likely affects your attitude toward credit cards
You might assume that younger people would use credit cards more often than older ones do. The convenience of buying now and paying later is still relatively new to them. They also haven't had years of paying interest on unpaid balances.
Why most people's 401(k) savings won't support them in retirement
Are you counting on the savings in your 401(k) to support you in retirement? Most Americans don't have nearly enough to adequately fund their retirement years. A new report using U.S. Census Bureau data states, "A 25-year-old median earner in 1981 who contributed regularly would have about $364,000 by age 60 [under ideal conditions], but the typical 60-year-old in 2016 had less than $100,000."
