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Vincenza Vicari-Bentley, AFC Empowering Financial Wellness Lead Program Coordinator  Like a lot of us, you may be unhappy with the current credit card interest rates (also known as APR). As credit card APRs are expected to rise, it’s worth calling your issuer to try and negotiate the same APR you had, or even a lower one especially if you’re not able to pay your balance off in full every month.
Here are three simple tips to increase your chances of success with lowering your credit card interest rate. 1. You’ve established a history of on-time payments. 2. You have good or excellent credit (credit score is 670 or higher). 3. You mention offers you’ve seen from competitors with lower interest rates. Credit card issuers may be willing to match or beat a competitor's offer to keep your business. Patience and persistence are also key. If the first representative is unable to help, consider asking to speak with a supervisor or a retention specialist. They may have more authority to make adjustments. Lastly, if you aren’t successful the first time you can try again in a few months. You can also explore transferring your balance to a credit card with a lower (or zero) interest rate. Just keep in mind there may be balance transfer fees associated with this strategy. Want more ideas about how to pay off your debt faster and save you money? Check out PowerPay.org and see how quickly you can pay off your debt and save money without making extra payments!
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 We've all been there. You wanted to have Holiday shopping and preparations done early, but every day life got in the way. Now your email inbox is full of "Limited Time Deals". You scroll through endless ads and posts on social media where you're inundated with gifts guides, people telling you to "Buy now!", links of things to purchase... and you begin to feel overwhelmed and overstretched. It doesn't have to be this way! With a little bit of planning, intentional spending, and simple ways to save money, you truly can feel merry and bright!
Join us for our Holiday webinar! You'll walk away ready to tackle these top personal finance tips:
Rochelle Allen, Empowering Financial Wellness Program Coordinator  Tracking our spending and budgeting is essential for financial control, and budgeting apps make it easy, especially on the go! With numerous options available, choosing the right one can be overwhelming. Take the time to research, read reviews, and consider the pros and cons. Remember that setting up and linking your accounts will require some time and effort. Some of the most popular choices are RocketMoney, YNAB (an acronym for You Need A Budget), Goodbudget, and EveryDollar. Mint is also popular, but it's going away in January 2024. Let's talk more about each one.
RocketMoney is a great budgeting app! It has a free version for tracking and budgeting and a paid version for $35.99/year. The paid version helps you organize subscriptions and bills, and even negotiate lower costs. Just upload a copy of your bill to RocketMoney. Overall, this app is uncluttered and easy to use. The free version is barebones, so expect to pay for Premium to get the most out of the app. YNAB is another popular budgeting app. It offers a free trial for 34 days, then it's $14.99/month or $99/year. YNAB follows zero-based budgeting, helping you be in control from the start. While it may have a steeper learning curve and a higher price, it is worth considering for its comprehensive budgeting approach. Goodbudget is a great choice for beginners! It has a simple interface and offers a free version. The paid plan is $8/month or $70/year. Goodbudget uses a virtual envelope system, but it requires you to manually input each transaction. While there is no syncing feature, it's great for multiple users and provides clear reports. Just remember to update it frequently to stay on top of your finances. EveryDollar is another great app choice for beginners. It is based on Dave Ramsey’s baby steps system and offers a free 15-day trial. The paid version is $99/year and includes account syncing. While the free version requires manual entry, it is a good starting point for organizing your household finances. Just keep in mind that it doesn't have a lot of bells and whistles. While this post isn’t a comprehensive list of all available apps, it is a good starting point for those looking for a way to track their expenses digitally. It is always a good idea to explore and find an app that suits your household best. For more budgeting tips, check out the PowerPay Money Master Online Course at powerpay.org. Happy budgeting!" Vincenza Vicari-Bentley, AFC Empowering Financial Wellness Lead Program Coordinator  Both Roth IRA and Traditional IRA have their own advantages and disadvantages. The best choice depends on your current and future financial situation, tax bracket, and goals. Yes, you can have both at the same time. However, your total contributions to both accounts cannot exceed the annual contribution limit set by the IRS each year.
Vincenza Vicari-Bentley, AFC Empowering Financial Wellness Program Coordinator III  One of the biggest myths about credit is that checking your credit reports can lower your credit score. It’s absolutely not true. Checking your own credit report is considered a “soft pull" which doesn’t affect your credit since you aren’t actually applying for a credit or loan, you’re just accessing your own information.
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