Greatvest Tools

We're entering a new year and decade, and many people use this change of season as a kick-off point to organize their finances. Unfortunately, when people dive into creating a plan, they put too many systems in place, and overcomplicate their money. It's tempting to download every app, try an overly strict budget, or force yourself to sit down every day to review your spending. The more hoops you push yourself to jump the less likely you are to stick with your plan and accomplish your goals. That's why it's key to find ways to simplify your financial life. The less energy and effort you have to put keeping your finances on track, the more likely you are to find success and reach your goals. Not sure where to start? Let's go over a few easy ways to start simplifying your financial life during this new year. Get Organized It's one of the number one recommendations for simplifying your finances for a reason! Too often people have piles of financial statemen...

Did you know there are five Fridays in January? That extra Friday means that a lot of people will be getting an extra paycheck this month. "The five-Friday factor could definitely be helpful to those folks who receive a paycheck every week or every two weeks," says Katie Bossler, who served our clients for many years as a credit counselor. "For people who get paid every other week, it's important to note that three-paycheck month will only happen if payday falls on the first Friday of a five-Friday month." Katie explains that most people on a bi-weekly pay schedule budget based on two paychecks as month (or four paychecks for those paid weekly). As a result, when an extra payday rolls around and you get an "extra" check, you have an opportunity to make some decisions that can improve your financial situation. "The question becomes what's the best thing to do with that extra money," Katie says. "The answer really comes down to...

If you made a New Year's Resolution to get out of debt, today's a big day. By mid-January, most resolutions have fizzled. But -- YOU can say, NOT TODAY. If you feel yourself slipping, take a minute for a pep talk, remind yourself that you can do this, and check you our post on goals that stick. Retool that resolution, and get back on the bandwagon, friend. Whereever you are on your journey, making he choice to get out of debt is a game-changer. People tell us all the time that signing up on a debt management plan and finally getting out of debt changed their lives. These 5 "dos' are helpful tips for getting out of debt. 5 "Dos" to Get Out of Debt 1 - Write Down Your Awesome, Attainable, Specific Goal to Get Rid of Debt Make your roadmap with a clear, specific goal that you can measure and see your progress. We've posted about this before, and it's still true. The first thing to do is to start. Decide what you want to accomplish in a very speci...

If you are dealing with debt, you aren't alone. The average American household has an average balance of about $6,600 in credit card debt, and that's not taking into account home, auto, and student loans. Paying off your debt isn't always easy, but having a plan can go a long way in achieving your financial goals. Two of the most popular strategies for paying off debt on your own are the snowball method and the avalanche method. Both methods require making the minimum monthly payments on all but one debt, which you put extra money towards. The Snowball Method With the snowball method, you begin by paying off your smallest debt first. This method creates a sense of motivation and accomplishment from being able to pay off smaller bills at a higher frequency. How it Works Let's say you have the following debts: Credit Card A: $3,500, 17.99% APR Credit Card B: $7,500, 15.00% APR Personal Loan: $1,000, 10.05% APR Using the snowball method, you would pay ...