With the billions of dollars that the diet industry spends advertising to people of all ages, you may have thought that the answer to that questions was easily weight. Well, you'd be wrong. A recent poll shows that people are more embarrassed about their credit score than either their age or weight (granted, age and weight come in a close second and third). What is it about credit scores that people find embarrassing ? It all has to do with shame, and that exact feeling is precisely what many creditors use to get consumers to pay debts quickly - sometimes even illegally. The Student Loan Scenario Because it's something that nearly thirty-seven million people in the US struggle with daily, student loans are the perfect example of loans that people are ashamed about. In fact, student loan debt is one of the main reasons why many people feel shame related to a credit score in the first place. Student loans can really ruin a credit score even if all of your other debts are paid.
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We all know what Intelligence Quotient (IQ) is, but have you been hearing the buzz lately about Emotional Quotient (EQ)? Well, if you haven't, then I'll start with a basic definition from Psychology Today: What Is Emotional Intelligence? Emotional intelligence is the ability to identify and manage your ow n emotions and the emotions of others. It is generally said to include 3 skills: Emotional awareness, including the ability to identify your own emotions and those of others; The ability to harness emotions and apply them to tasks like thinking and problems solving; The ability to manage emotions, including the ability to regulate your own emotions, and the ability to cheer up or calm down another person In achieving financial freedom from debt, we can apply the same skills in sustaining our long term goals, or even short cutting the time and effort involved by finding the best possible solution for our particular concerns. So, what does getting a hold of our emotions have
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Effective financial management is necessary for staying out of the red. But not everybody knows how to handle their money properly. For example, how is an average person who has virtually no knowledge on financial management supposed to take care of his cash? If you've been wondering but haven't yet figured out how, here are 5 simple ways to manage your finances and stay above the line by yourself: 1) Start budgeting. Planning how to spend your available money, or budgeting , is a great way to stay on top of your finances. Not only will you be able to keep track of your funds and cash flow, but you'll also be effectively preventing yourself from spending more than you should. To monitor your comings and goings as clearly as possible, make a list, create a spreadsheet, or use an online budget planner. 2) Stop making unnecessary expenses. Once you know how and on which things you spend, start cutting back on those you don't really need. There may be a lot. For instance