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Financial stability stems from healthy financial habits. Perhaps you believe there is never a good time to start learning more about finances and your own financial health. Although it may seem complicated at first, taking a systematic approach can help you build habits that will benefit you in the long term.

If you are a typical American approaching retirement, chances are you’re carrying some form of debt. In fact, the median debt per American household is $2,300, while the average debt stands at $5,700, according to a study by Lending Tree. But retiring with debt can be detrimental to retirement planning.

Americans have a love/hate relationship with credit cards. While they enjoy the ease of use, many cardholders rue the high-interest rates and the burgeoning amount of personal debt accrued by overusing credit cards. According to an Experian survey, the average personal credit card debt figure stands around $2,326, with an average monthly bill of $780 per cardholder.

Credit card debt in the United States has plummeted since the COVID-19 crisis started, according to the most recent data from the Federal Reserve. The decline may seem counterintuitive given the pandemic’s effect on the economy. According to the Fed’s latest Consumer Credit report, the amount of revolving consumer debt, which is primarily made up of credit cards, fell below $1 trillion in May 2020 for the first time since May 2011 during the Great Recession. Notably, it also marks the third straight month of decline.

No matter where you live in the United States, there’s a good chance that the coronavirus pandemic has affected your finances in some way. According to an April 2020 study by the credit reporting agency TransUnion, 61% of U.S. consumers have been financially impacted by the global health crisis. The average affected consumer anticipates that he or she is just a little over 6 weeks away from not being able to pay bills or loans.

Amid economic decline, there are some key steps to take to shore up your financial future For many baby boomers, 2020 was going to be the start of a new phase in life as they planned to retire. And then the world changed in an instant, leaving some to wonder whether this really will be the start of their Golden Years or if those dreams will have to be deferred. For others close to retirement who now find themselves jobless, it may feel less like a choice as a circumstance forced upon them...

Boosting your financial well-being is a worthwhile goal, regardless of income level, tax bracket or savings. According to the Consumer Financial Protection Bureau, financial well-being “describes a condition wherein a person can fully meet current and ongoing financial obligations, can feel secure in their financial future and is able to make choices that allow them to enjoy life.” While strengthening...

Bernadette Joy Maulion, 34, went to business school part time after a career in human resources, hoping to start a new chapter in her professional life. School wasn’t cheap, and she took out $72,000 in student loans. She and husband AJ, 37, had a $57,000 mortgage on the first house they’d bought in Charlotte, North Carolina, and were using it as a rental. They also had a $180,800 mortgage on a second...

Consolidating debt can make it much easier to manage the process of repaying the money you owe. When you consolidate, you use one new loan to pay back multiple existing loans -- which could include credit cards or other loan types. Debt consolidation can often save you money on repayment, in addition to simplifying the repayment process. But, unfortunately, it can also cause your financial situation to...

If you’re like the average American household, you probably have debt – maybe even a lot of it. And you’re probably wondering how you’ll ever pay it off. If so, it may help to know that your hardly alone. Some people in fact, owe a lot of money. That was Allison Baggerly and her husband Matt, or at least it was a few years ago. They owed $111,000, and no, that doesn’t include their mortgage. The debt was...