Smart Spending Tips discusses how Americans rate their financial fitness. To some extent, financial fitness is in the eye of the beholder. Survey data compiled in late 2022 by Smart Spending Tips suggest that there are some measurable things that may influence how financially fit people consider themselves. The things that seem to go hand in hand with how good people feel about their financial fitness are pretty straightforward. However, the survey generated some numbers that can be used as yardsticks for how Americans generally measure their financial condition. A look at those numbers allows you to see how your…

Smart Spending Tips discusses bond vigilantes, what they do and how they may combat inflation. In the 1970s, there was a bit of a fad for vigilante movies. Films like Death Wish and Walking Tall highlighted the idea of a lone man resorting to extraordinary means to right the wrongs of society. In the 1980s, a less violent but extremely effective vigilante emerged. They were nicknamed “bond vigilantes,” and the enemy was inflation. It is worth looking back on this era because bond vigilantes appear to have returned. The good news is that they may help in the battle against…

Smart Spending Tips with some thoughts on how to save when buying a car. Buying a new car can be one of the most frustrating purchases in a consumer’s lifetime. While it’s not the biggest expense ever, negotiating with a car salesman can be a big enough headache that you’ll never want to do it again. After researching the type of car you want to buy, go to the dealer with a plan for getting the best price. Here are some ideas to help get the best deal. Shop for incentives January is typically a slow month for car dealers,…

Smart Spending Tips’s 7-point list of credit management resolutions to consider for 2024. The New Year is commonly associated with hope. It’s a fresh start and a time to set goals for the year ahead. The idea is that this year can be better than the last. That’s all well and good, but a brighter 2024 will not happen by itself. The key to making 2024 better financially than 2023 is to figure out what to do differently. Credit management resolutions for 2024 At the end of 2023, here are seven personal finance and consumer credit resolutions for 2024 that…

Smart Spending Tips discusses the news that Americans would prioritize saving and debt reduction in 2024. At least, that’s what they would do hypothetically if they received a hypothetical pay raise. A recent survey suggests that some consumers are starting to get the message that rising debt, late payments, defaults and low saving rates cannot continue. Too many households practice unsustainable financial habits. Coming out of pandemic lockdowns, people went on an epic binge of spending and borrowing. The Federal Reserve Bank of New York’s Survey of Consumer Expectations Household Spending Survey found that in 2024, respondents would like to…

Smart Spending Tips with tips on how to master budgeting as part of your personal finance journey. The principles of budgeting are the same whether you are a child saving for a new toy or an adult saving for a new house. Learning how to budget effectively can help get you on track to achieve your financial goals. 1. Prioritize high-interest debt There is little point in setting money aside for saving if you are paying interest charges on other debts. Before funneling money into savings, focus on reducing high-interest debts. Allocate extra funds to eradicate these financial burdens and…

Smart Spending Tips discusses U.S. wealth and borrowing and why some Americans are more in debt than ever. Conflicting financial data can be a real head-scratcher. A mid-March 2024 report from the Federal Reserve showed that household net worth had reached an all-time high. The same report showed that household debt was also at a record high. This seems like a contradiction: Americans are wealthier than ever before yet owe more money than ever before. The key to understanding that contradiction is recognizing that the data represents two types of people: net savers and net borrowers. Not only are these…

Smart Spending Tips with 5 tips on how to save money and increase your savings. We all have monthly expenses and bills to pay, but it’s also important to try to fit savings into our personal monthly budget. Some people have enough disposable monthly income to afford to save on a regular basis. For others, forced savings is the only way to ensure that they continue saving on a regular basis. Regardless of how much money you earn and regardless of your personal monthly budget, there are several ways to ensure that everyone can afford to save on a regular…

Smart Spending Tips’s seven ideas to cut winter costs and boost holiday savings (without breaking the bank). Winter is fast approaching, and the holiday season is just around the corner. It’s time to start planning ahead—not just for gift shopping but for ways to trim your household expenses. Saving money doesn’t have to mean making big, expensive changes. With some clever, low-cost strategies, you can keep your home cozy, reduce energy bills, and build up extra savings for the holiday season. Here are seven easy and affordable ways to start saving. 1. Draft stoppers to block the breeze Cold air sneaking…