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Simplified Debt Tips for healthy lifestyle!

While your debts shouldn’t define who you are, the money you owe plays a powerful role in shaping your personal finances...
17/10/2022

While your debts shouldn’t define who you are, the money you owe plays a powerful role in shaping your personal finances. These contracts, and how you pay off your debt, influence the terms under which you can access credit in the future.

Any time you need to borrow money, whether to buy a house, finance a car, pay for medical procedures or advance your education, a lender is going to look at your debt-to-income ratio — how much you owe compared to how much you earn — along with your credit report, from which your credit score is drawn. The lower your credit score, the higher the interest rate you'll be charged on your loan.

Debt management factors heavily into your credit score.

Choosing between paying down debt and investing can be like trying to solve a riddle.If you've ever tried to work out th...
17/10/2022

Choosing between paying down debt and investing can be like trying to solve a riddle.

If you've ever tried to work out the answer, you've probably run into some version of this advice: Compare the interest rate on your debt with the return you expect to earn on your investments, and put the money toward the option with the higher percentage figure.

While that advice might make sense in theory, it isn't exactly easy to put into practice. Plus, even seasoned experts find it difficult to forecast precise return rates, so it hardly seems sound to base your decision on a single number plucked out of thin air.

To figure out which may be the better use for your cash, compare the interest rate on your debt to our handy rule of thumb.

Saving money is central to achieving both short- and long-term financial goals, such as building an emergency fund, savi...
17/10/2022

Saving money is central to achieving both short- and long-term financial goals, such as building an emergency fund, saving for a vacation, or putting aside money toward a down payment on a home. As of January 2022, the personal savings rate was 6.4%, meaning that the average U.S. household saves less than 10% of disposable income annually.
Creating a savings plan can help to increase your personal savings rate.

A savings plan can make it easier to reach your financial goals. Learn what a savings plan is, why you might need one, and how to make one.

The average American household spends $2,060 per year on utility bills, reports EnerygyStar.gov. As people were quaranti...
17/10/2022

The average American household spends $2,060 per year on utility bills, reports EnerygyStar.gov. As people were quarantined in their homes, forcing them to use more electricity, even now, some families continue to work or learn from home—which will only spike their energy bill. With that in mind, we’ve created this guide to help you save energy—along with some cash—fast.

Spending too much on utilities while stuck at home? Cut down on your energy expenses with these simple tips and tricks.

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