How To Fight a Speeding Ticket: Everything You Need To Know

How to Fight A Speeding Ticket

How much does a speeding ticket cost? How long does it take to get out of jail after being arrested for speeding? What should I do if the police pull me over for speeding? This article will teach you everything you need to know about what to do when you’re pulled over and how to fight a speeding ticket.

Digging Out of Holiday Debt

Digging Out Of Holiday Debt

Could Gen Z be on the precipice of mirroring Millennials’ financial woes during the Great Recession?
Now that the post-holiday bills have started creeping in, many people are quaking in their boots at the thought of hefty bills eating away at their bank account. The pandemic has been a harsh reminder of how fleeting financial security can be, especially for younger generations. In this coming-of-age story, we’ll look at how the pandemic has shaken things up for both Millennials and Gen Z.
The Pandemic Drives Credit Card Debt
Although new research shows that credit card debt did not hit the record highs experts in the U.S. originally predicted, this still didn’t stop most consumers from turning to credit cards. Since more than 50 million Americans found themselves out of work due to government-ordered shutdowns, it’s no surprise to see that Millennials and Gen Z were affected the most.
A nationwide survey of 1,000 Americans conducted by Debt.com and Florida Atlantic University’s Business and Economics Polling Initiative (FAU BEPI) shows that 55% of Americans under the age of 39 years old charged up large credit bills as a result of income loss. Millennials reported that 64.5% of their household lost all or some income, whereas Gen Z reported that 81% had lost income.
The Pandemics Lasting Impact
As if being hit by a pandemic during some of your most formative years wasn’t enough, 70% of Gen Z respondents said the pandemic was the reason they took on more credit card debt compared to 46% for Millennials. On top of this, 18-24-year-olds were 45% more likely to carry debt from month-to-month. In comparison, the various other age groups came in at just over 30% when it came to carrying monthly credit card debt.
Nearly one in three (30%) respondents said they were forced to temporarily stop making credit card payments during the pandemic. And younger adults experienced higher rates of income loss. To be more specific, nearly 6 in 10 Gen Z survey respondents had to stop making payments on their cards compared to 4 in 10 Millennials. This is a little alarming considering 39% of Americans carry at least some debt (between $1-$7,500), whereas almost 2 in 10 (19%) Americans carry between $8,000-$25,000 and 9% carry between $30,000-$50,000 from month-to-month.
This will definitely have a lasting impact on the lives of younger Americans, especially Gen Z. If people are temporarily stopping their credit card payments, they are definitely not saving for emergencies, never mind retirement. So, they will more than likely have to also delay retirement as a result of the lasting effects of the pandemic.
Need Help Digging Out
If you feel like your debt and interest rates have gotten out of hand, try calling your creditors to renegotiate your interest rates. If you’ve been able to keep up with your payments and haven’t missed any in the last twelve months, your creditors might be willing to reduce your rates.
Next, take the time to figure out how to use the avalanche method. This is when you pay off your highest interest card first. But be aware that if you’re on a tight budget this may not be the method for you. You can also look at the snowball method to pay off your debts.
The debt snowball method is a strategy where you pay off debt in order of smallest to largest, gaining momentum as you pay off each remaining balance. When the smallest debt is paid in full, you roll the minimum payment you were making on that debt into the next-smallest debt payment. If you’re having trouble figuring out where to start, reach out Debt.com for help.
More Articles by Wealth of Geeks:
What You Need to Know about Debt Consolidation
Smart Steps to Take Now for a Brighter Financial Future
This article was produced by Wealth of Geeks
Featured Image Credit: Pexels.

Low-Tech Budgeting Solutions – Budget Binder

Budget Binder

Many of us need to budget to stay on top of our finances, but sometimes that can feel like a full-time job. Money coming in, money going out, keeping track of it all can be challenging to remember.

Today, there is an abundance of online budget tools that will help you keep track of virtually everything money-related. For example, sites like youneedabudget.com, mint.com, or personalcapital.com have been built to help users create a budget and keep track of their finances.

Frugal At Home Date Night Ideas For 2022

At Home Date Night Ideas

It can be challenging to plan a date night out these days. Even hard can be to keep your date night costs down. Even a simple dinner a movie can become expensive quite quickly. So instead of going out for date night, why not stay in? There are plenty of fun and frugal activities you can do for an at home date night ideas.

What Is A Sinking Fund and How to Use Them Effectively

Sinking Fund

It would be nice to think that we all could be so frugally minded that no significant expenses would ever pop up. Unfortunately, no matter how much we want to save money and live frugally, major expenses are simply a part of life. However, that doesn’t mean we should wait around for them to come and then pay a huge expense all at once. Planning for these significant expenses can make them far less painful when the time comes to pony up. This is where the idea of a sinking fund comes in handy.

More Money Saving Challenges to Kick Start Your Saving

Money Saving Challenge

A money saving challenge is precisely what it sounds like, a challenge that helps you to save money. You could have a health challenge, maybe your favorite blogger has a writing challenge, but in this case, a money-saving challenge is on the docket. 

Money saving challenges can come in all shapes and sizes, but they all have the same goal. And that goal is to change our mindsets around our money and motivate us to start saving money and use creative ways to save money. 

52 Week Money Challenge

52 Week Money Saving Challenge

Saving moeny isn’t exactly the most exciting thing on our to-do list, but it should undoubtedly be at the top of it. For many of us, getting into any new habit can be tough. As a result, we often need to develop different ways to motivate ourselves with more than just the “it’s a good idea” mentality. For those of us that need a bit of extra motivation, money challenges can be a good way to start saving.

The Secret to Buying a House with Bad Credit

Buy House With Bad Credit

Depending on your circumstances, you may have lending options that make it possible to overcome that bad credit barrier when buying a home. This guide will teach you how to buy a house with bad credit, and where to go to find financing that will work for you.

No Income Tax States: Who Benefits From Living in One

Income Tax

Everyone wants to have lower taxes. Taxes are something that people are more than likely to complain about, and they see them as the way the government takes away from their hard-earned money. Being in the United States, you owe federal tax and state tax. A way to accomplish having a lower tax bill is to live in a state with no income taxes. As of 2021, nine states are considered no income tax states.