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6 Everyday Expenses That Can Sneak Up on You

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In General Managing Money Student Loan Refinancing OptionsLendKey

Do you ever feel like you’re watching your budget and have everything figured out, only to be hit with a surprise auto repair or medical bill? Whether you’re dealing with seasonal expenses, lifestyle creep, or emergencies, unexpected costs can often set you back for months. Which everyday expenses are most likely to catch you unprepared, and what can you do to fit these costs into your budget? 1. Subscription Services While subscription services and memberships can provide an inexpensive source of entertainment, too many $10 or $20 monthly subscriptions can add up, especially nowadays. From gym memberships to music streaming …

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Savings Accounts: What’s Right for You

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In General Managing MoneyLendKey

A savings account is an opportunity to safely tuck money away that you don’t need for routine and daily purchases. They allow you to save money for the future, whether that’s saving for college, a house, a car, or a vacation. The longer you save, the better that’s because a majority of savings accounts earn interest, which means their value grows as long as there are funds in them. It’s quite different from a checking account. But what is it, and why is it so valuable to you? What Is a Savings Account? Unlike checking accounts that are designed to …

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How to Build Credit as a Student

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In General Managing MoneyLendKey

Looking for ways to start building your credit at a young age? If so, you’re already ahead of the game. Getting started on the right foot financially can potentially make things a lot easier for you down the road. Generally, people with established credit have an easier time getting approved for loans. This can be anything from a car loan or student loan to a mortgage, or even a business loan. An excellent credit score can also help you secure a low-interest rate, which allows you to save money over time. What is a credit score, anyway? In simplest terms, …

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Managing Student Loan Debt During COVID-19

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In Managing MoneyLendKey

Breathe in. Breathe out. We know there is a lot of uncertainty as the world faces the challenges and realities of COVID-19. While many of us are working remotely or facing job uncertainty, transferring our schooling online, and putting many aspects of our life on hold, the reality is that not everything can come to a full stop. Student loan debt reached another all-time high back in 2019 and many graduates are looking into options to repay their debt. On top of the various repayment options available to borrowers, the government has been announcing new, short term but open-ended policies …

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The Six Best College Majors For Job-Seekers

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In General Managing MoneyLendKey

You don’t need to look further than biochemical engineering major Ashton Kutcher or licensed physician Ken Jeong to know that having a certain degree doesn’t always determine what you’ll spend your working life doing. But for many, a degree in a certain subject can set up the foundation for a potentially lucrative career. Starting salary alone isn’t always the best way to evaluate a college major. Other factors like market demand, flexibility and benefits, projected growth, and your skills and aptitudes can all work together to point you toward a specific major. Learn more about a few of the most …

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How to Save Money During the Holidays

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In Managing MoneyLendKey

This winter doesn’t just mark the end of another year, but also the end of the decade. From ice-skating trips to huge family meals, cozy sweaters, and holiday parties, the upcoming holiday season is full of reasons to celebrate. Unfortunately, the cost of these holiday festivities can quickly add up, especially if you need to travel cross-country or are playing Santa to young children. And if you’re not prepared in advance, the increased expenses associated with holiday food, transportation, decor, and gifts can leave you scrambling for cash come January. Read on for some tips and tricks that can help …

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Would You Pass a Financial Stress Test?

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In Managing MoneyLendKey

When was the last time you really took a close look at your finances? If it’s been a while, now might be a good time to reevaluate with a financial “stress test”. Generally, financial stress tests determine whether you’re financially secure enough to get through an emergency. Of course, no two people have exactly the same financial background and circumstances, so there’s no “one-size-fits-all” method. Still, there are some general ways to assess and evaluate your financial health. No matter what your situation, there are likely changes you can make to increase your financial security and enjoy greater peace of …

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How to Pay Off Your Student Loan Debt by Freelancing

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In Managing MoneyLendKey

Paying off student loan debt is an ongoing challenge for many people. Many find that it’s difficult to keep up with their monthly payments, especially if they aren’t able to find work in their chosen fields. If you’ve landed in this boat, you’re not alone! Many people go to college, only to discover that changing circumstances have made it difficult for them to seek employment in their preferred field. Once your grace period ends, it’s time to start paying off your student loans- but you’re struggling to do so. Maybe you have a child and have decided to stay at …

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15 Simple Ways to Save Money While in College

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In Managing MoneyLendKey

College can be an enjoyable time for many students, but it can also be accompanied by financial stress. In fact, one survey found that 36% of college students (and 46% of community college students) struggle to pay their rent and utilities while in college. A similar number might not have enough money to eat on a given day. While not everybody’s situation is that extreme, keeping track of your finances should be a priority early on. Don’t worry; it is entirely possible to have a great college experience without breaking the bank. You might even be able to build up …

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10 Bad Spending Habits and How to Break Them

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In Managing MoneyLendKey

It may seem that the only way to save more money is to earn more money. But let’s face it: most of us could do more to control our spending, too. Don’t worry, this isn’t one of those articles that assert that millennials could all buy homes tomorrow if they stopped buying lattes and avocado toast. Rather, it’s a compilation of the ten common ways that many of us (millennials or not) overspend and tips to help you break these financial vices and spend smarter. The Habits and Breaking Them For Good 1. Spending Without a Budget Setting up a …

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Why Am I Getting So Many Credit Card Offers?

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In Managing MoneyLendKey

As soon as you turned eighteen, it seemed like credit card offers started flooding your mailbox. Offers appeared even if you did not apply for a credit card. Do you find yourself dropping multiple credit card offers, many of them pre-approved, into the shred pile? Are you tired of dealing with the letters–not to mention all the wasted paper that comes along with them? Are you worried that your information may have been shared with more companies? This guide can help you understand and handle those offers. Why Are You Getting So Many Credit Card Offers? The three major credit …

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How to Start a Small Business When You have Student Loan Debt

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In Managing MoneyLendKey

Millennials may very well be the “small business” generation. Approximately 30 percent of millennials have already started a small business of their own, compared to 19 percent of baby boomers and 22 percent of generation X. This generation has a can-do attitude and they are strongly attracted to the individualistic nature of small businesses. Unfortunately, millennials are also a generation defined by student loan debt. Approximately 42 percent of millennials have reported that they, or someone in their household, has student loan debt in their name. This makes the millennial generation something of a paradox: these young people are go-getters …