5 Unique Tools To Eliminate Debt

tools to eliminate debt

Coronavirus has been difficult for many of us. You may be wondering how to cut spending and save on bills.

You may be wondering about whether you should pursue a hardship loan. Wherever you are at, there is technology that may be able to aid you in your quest to eliminate debt in these difficult times. 

In this article, the goal is to provide 5 different tools that will help you eliminate debt in a difficult season.

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Hardship Loans to Go Through Temporary Financial Troubles

emergency hardship loans

Not everyone has a solid savings account that may help in case of urgent monetary disruptions or during the crisis.

The total consumer debt in the USA was over 4 billion in February 2020, according to the Federal Reserve.

Many people live paycheck to paycheck, thus any temporary emergency may lead to serious hardship and financial loss. As a result, so-called hardship loans have become widespread.

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How to Get Financially Prepared for Adoption

how to financially afford the adoption

Life is hard. Adoption is hard. Money is hard.

A few years ago my 3-year-old niece informed my sister that she could do hard things. She inspired me to put one foot in front of the other while we faced our fertility and adoption journey. It’s the end result that has kept me going.

While you are on your adoption journey, here are a few tips to help you financially prepare.

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How Much Should You Have in an Emergency Fund? (Expert Roundup)

You have definitely heard the advice that you’d better have an emergency fund to pay for unexpected expenses thus protecting yourself from unanticipated events. Money philosophies may differ, but most financial experts agree that for a healthy financial plan it’s necessary to have some cash set aside for emergencies.

We are sure that guessing is not the best way for making financial decisions. So we decided to ask financial experts what would they answer to a person asking “How much money should I have saved in an emergency fund?” And we’ve got a bunch of great tips we can now share with you.

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Lifestyle Inflation Definition and How to Cope with It

lifestyle inflation definition

Has the quality of your life changed since graduation? Have you started making more purchases once you’ve been promoted? 

Did you know that such changes in life have a special name? We are talking about lifestyle inflation. 

What does it mean? Why does it happen? Are there any negative impacts it may have on your financial stability? 

Read on to learn more about this notion and the best ways to manage your lifestyle inflation.

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