The 50-20-30 Budget Rule is intended to help you budget your after-tax income. The premise of the rule is simple – divide your after-tax income into three categories: 50% goes to “needs,” 20% goes to “savings,” and 30% goes to “wants.” This formula can help individuals plan for unforeseen emergencies or retirement, and can also help avoid credit card debt. Once you have determined your after-tax income, you can start to distinguish which […]
The amount of credit card accounts you own along with the length and quality of your credit history affect your credit score. They show your ability to manage your budget regularly over time, even when you’re offered opportunities to go beyond your budget. If you never borrow money at all, it’s difficult for creditors to anticipate how reliable you’ll be when you do.
Credit card issuers report your account and […]
There’s no doubt that the current pandemic is challenging all of us, and many people are experiencing financial hardships. However, the more you can do now to set yourself up for success in the future, the better off you’ll be. You may not realize it, but there are actually ways to go about using your credit cards during this time that will ultimately help you out down the road.