{"id":5018,"date":"2021-04-23T14:17:00","date_gmt":"2021-04-23T21:17:00","guid":{"rendered":"https:\/\/www.soundcu.com\/?p=5018"},"modified":"2023-10-30T20:57:23","modified_gmt":"2023-10-31T03:57:23","slug":"3-tried-and-true-facts-about-personal-finances","status":"publish","type":"post","link":"https:\/\/www.soundcu.com\/blog\/3-tried-and-true-facts-about-personal-finances\/","title":{"rendered":"3 Tried and True Facts About Personal Finances"},"content":{"rendered":"
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No matter your age or stage in life, it pays to know the facts about personal finances.<\/p>\n

When you understand the basics, you can set yourself up for success and build a healthy\u00a0financial future.<\/p>\n

Here are three facts to know about personal finance to get on the right track:<\/p>\n

Fact #1 – Good Financial Habits Pay Off<\/span>
\nMaking it a habit to set aside money each month helps you save to meet both short and long-term goals. For many of us, the big savings goal is purchasing a home, and eventually retirement. But people also save to build up an emergency fund, afford a new vehicle, education, and more.<\/p>\n

Making regular deposits, no matter how small, will add up over time.<\/p>\n

Besides setting aside money and ensuring your funds earn a competitive rate of interest, the second most important habit is to control spending. By budgeting wisely, you not only set aside more money for potential savings, but you also develop spending habits that serve you in the long-term.<\/p>\n

Fact #2 \u2013 There\u2019s a Smart Way to Manage Debt<\/span><\/div>\n

Many people find it helpful to understand the facts of managing debt wisely. For example, making\u00a0only the minimum payment each month on a credit card extends how long it takes to wipe out\u00a0your debt and adds to the amount of interest you pay. Minimum monthly payments can be a\u00a0short-term approach to dealing with financial challenges\u00a0\u2014\u00a0because you are keeping up on bills\u00a0\u2014\u00a0however, making more than the minimum payment each month helps avoid digging yourself\u00a0into a financial hole.<\/p>\n

If you\u2019ve hit the maximum balance on credit cards, or run into issues keeping up with other debt, it\u00a0is time to take a hard look at where your money is going and make a plan to change any habits\u00a0that are not beneficial to your financial health.<\/p>\n

Fact #3 \u2013 You Don\u2019t Have to Go it Alone<\/span><\/div>\n

There are times in life when you might need to get a handle on high credit card balances,\u00a0understand options when facing financial challenges, or figure out how to get a healthier credit\u00a0score.<\/p>\n

A financial counseling session, working one-on-one\u00a0with a certified counselor,\u00a0is a good first\u00a0step.\u00a0Not only will the counselor help you understand your full financial situation, but they will also\u00a0help you to develop a customized plan for your unique situation.<\/p>\n

Whether it\u2019s overwhelming credit card debt, student loan balances or issues with keeping up with housing costs, the path is easier when you work with a trusted resource.<\/p>\n

A trusted source, along with an action plan that provides proven strategies, can propel people\u00a0toward financial health with\u00a0confidence.<\/p>\n

Just the Facts<\/h2>\n

Through our partnership, counselors at\u00a0GreenPath Financial Wellness<\/a>\u00a0are ready to share some\u00a0\u201ctried and true\u201d facts when it comes to financial health.<\/p>\n

Gain a better understanding of your financial picture and what steps to take to improve financial\u00a0wellness. Get started with a free, confidential financial counseling session.<\/p>\n

This article is shared by our partners at\u00a0GreenPath\u00a0Financial Wellness<\/a>, a trusted national non-profit.<\/em><\/p>\n<\/div>\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\n\t<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Besides setting aside money and ensuring your funds earn a competitive rate of interest, the second most important habit is to control spending. Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":10,"featured_media":5019,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","_searchwp_excluded":"","footnotes":""},"categories":[50],"tags":[110,147,143,148,149,104,106],"class_list":["post-5018","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-life-finances","tag-budgeting","tag-counseling","tag-debt","tag-finance","tag-financial-advice","tag-financial-wellness","tag-personal-finance"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.soundcu.com\/wp-json\/wp\/v2\/posts\/5018","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.soundcu.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.soundcu.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.soundcu.com\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/www.soundcu.com\/wp-json\/wp\/v2\/comments?post=5018"}],"version-history":[{"count":0,"href":"https:\/\/www.soundcu.com\/wp-json\/wp\/v2\/posts\/5018\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.soundcu.com\/wp-json\/wp\/v2\/media\/5019"}],"wp:attachment":[{"href":"https:\/\/www.soundcu.com\/wp-json\/wp\/v2\/media?parent=5018"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.soundcu.com\/wp-json\/wp\/v2\/categories?post=5018"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.soundcu.com\/wp-json\/wp\/v2\/tags?post=5018"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}