Tag: credit

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How to Use Credit Wisely During Financial Hardships

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Financial hardships can strike unexpectedly, leaving many people grappling with how to manage expenses and sustain their daily lives. During these times, credit can be a vital tool, offering temporary relief and enabling access to necessary resources. However, credit misuse during financial difficulties can exacerbate problems, leading to mounting debt and long-term financial instability. Understanding how to use credit wisely is essential to maintain control over your finances and work toward recovery without jeopardizing your future stability.

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Americans Collectively Owe a Staggering $1.13 trillion on their Credit Cards

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the staff of the Ridgewood blog

Ridgewood NJ, according to a recent report on household debt by the Federal Reserve Bank of New York, Americans collectively owe a staggering $1.13 trillion on their credit cards. This figure saw a notable increase of $50 billion, or approximately 5%, in the fourth quarter of 2023. Alarmingly, credit card delinquency rates also witnessed a surge, especially among younger millennials aged between 30 and 39, who are grappling with substantial student loan debt burdens.

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1 in 10 Students Think Credit Cards Are Free Money

RHS 2017

the staff of the Ridgewood blog

Ridgewood NJ, Poor financial literacy in the U.S. has gotten to the point that more than 2 million college students (1 in 10) believe credit cards are free money, according to the personal-finance website WalletHub’s 2019 College Student Financial Survey, released today.

Additional survey results can be found below, along with our editors’ picks for 2019’s Best Student Checking Accounts and Best Student Credit Cards, selected from hundreds of offers.

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10 Financial Resolutions for the New Year

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December 20,2016

the staff of the Ridgewood blog

Ridgewood NJ, Roughly 45% of Americans make New Year’s Resolutions each January, and since money is our top stressor, it’s clear that many of our pledges will be financial in nature. In recognition of that, WalletHub today announced its 10 Financial Resolutions for 2017 in order to help progress-minded people attain Top WalletFitness in the new year. This report comes on the heels of WalletHub’s 10 Financial Predictions for 2017, helping to provide a roadmap for financial improvement after the ball drops.

Below you can find a quick rundown of our resolutions, which are based in part on conversations with a panel of leading finance and consumer psychology experts.

  1. Thoroughly Review Your Credit Report & Sign Up for Credit Monitoring
  2. Pay Bills Right After Receiving Your Paycheck
  3. Repay 20% of Your Credit Card Debt
  4. Use Different Credit Cards for Everyday Purchases & Another for Debt
  5. Add One Month’s Pay to Your Emergency Fund
  6. Improve Your Credit Score by 20 Points
  7. Get an A in WalletLiteracy
  8. Focus on Your Physical Health
  9. Make a Realistic Budget & Stick to It
  10. Look for a Better Job

For additional context and advice related to each resolution, as well as a complete Q&A with our experts, please visit:  https://wallethub.com/blog/financial-new-years-resolutions/9202/

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Reader says Gotta give credit to the Ridgewood police

Two Arrested

file photo by Boyd Loving

Gotta give credit to the Ridgewood police. They are well trainied professionals who know how to perform their duties with a level of respect and restraint they deem appropriate to the situation and in so doing they are often able to defuse what otherwise could have turned into a confrontation. Just look at the pic.Seemingly friendly and non-confrontational…..but backed up by officers from two other departments just in case things went bad. Consummate professionals !! We are so lucky to have them.