When most people think of inflation, their response is usually similar to when they see a vintage advertisement: reminiscing about the cheaper prices of the past (15 cents for a burger? Awesome!) while simultaneously feeling some resentment towards today’s ever-rising prices. Generally, inflation is seen as a frustrating “financial fact of life” that passively affects everyone as price levels climb and as the dollar’s purchasing power decreases over time.
SavvyMoney Minute : Personal Finance is More Personal than Finance
Should you buy, or rent? Pay off debt, or build an emergency fund? The trouble with money questions is the answer usually is, “It depends.” Because personal finance is more personal than finance. Here are three techniques for making good decisions.
SavvyMoney Minute: Fool Yourself into Saving More
If you can’t see it, and you can’t touch it, you won’t spend it. Why is saving money so tough? Because it means putting aside resources for tomorrow that you’re tempted to use today. And your brain, wired to hunt and gather right now, doesn’t like that. The solution? Mind games.
SavvyMoney Minute: Don’t Shop Angry, Hungry or Sad
Impulse buying: We’ve all done it. In fact, the average person will spend $114,000 on impulse purchases over their lifetime. How can you avoid that fate? Skip these three shopping sins.
SavvyMoney Minute: Pay Together, Stay Together
A recent study confirmed what many of us already know: money issues can tear a couple apart. In fact, couples who disagreed about finances once a week were more than 30% more likely to get divorced than those who disagreed a couple of times a month. One solution? Common goals.
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Extra Credit provides general information to help improve our Member’s financial lives. Every situation is different, so please contact us for guidance on your specific needs. The advice provided in Extra Credit is not intended to serve as a substitute for speaking to a loan representative, financial advisor, or GreenPath Financial Wellness counselor who can help tailor a solution for you.
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Quiz: How Do You Relate to MONEY?
What’s your money persona?