This trap is easy to fall into since most credit card companies don’t require you to make a large minimum payment every month. Unfortunately, credit card debt is usually attached to a very high interest rate.
A 401(k) is your ticket to financial freedom later in life. You may be able to enroll in one of these plans through your employer as soon as you’re eligible.
Private student loans usually have higher interest rates than student loans issued by the federal government. In addition, private loans aren’t eligible for federal loan forgiveness programs.
Co-signing on a loan for a loved one might be the right move in some situations. But all too often, it’s a pitfall that can ruin your finances.
And making your lunch two times per week instead of dropping $10 at your local lunch place could save you $1,040 per year, or more.
A timeshare is a property that more than one party owns, and it’s shared under an agreement everyone signs. In theory, that doesn’t sound so bad.
Unless you’re as rich as the rapper Offset — who bought his wife, Cardi B, a Rolls Royce for more than $330,000 — don’t fall into the trap of buying an expensive new car.
Homeownership is an integral part of the American dream, although it can feel out of reach for many people right now. If you're lucky enough to purchase a piece of property, make sure you’re buying within your means.
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