The Problem of Debt in the United States

Let’s face it, debt in the United States is a problem. From our national debt, student loan debt, and consumer debt. Debt in the United States is a problem on all levels. Why is that?

I’m a firm believer that it starts with the lack of education on the topic. Only 17 states require high school students to take a course in personal finance. But even those states that teach financial literacy, debt is still a problem.

Maybe it the YOLO or “living my best life mentality” that leads to our obsession with overspending. Perhaps it’s the instant gratification we seek and hit the “like” button on social media every day. Or the fact that we let 17 and 18-year-olds make their biggest financial decision (college) with little guidance. Or the impact taking on student loan debt could have on them for years to come.

Maybe it’s the lead by example trap that has gotten debt in the United States out of control. We are just merely following the herd. Heck, our government is 22 trillion in the red.

Whatever the reason is for it, we need to take back control of the debt in the United States. The sooner we can start, the better. Let’s dig in on some of the debt categories and why we’ve fallen off the debt wagon.

Emergency Funds and Cash Reserves

One of the few personal finance concepts that garners near-universal praise is the emergency fund.

For many topics in personal finance, there are seemingly as many critics as there are advocates. “The stock market is too risky”. “You can’t retire early because you need health insurance”. “You shouldn’t travel because it’s wastefully expensive”.

I don’t agree with any of these perspectives. But you very often hear people offer them as feedback.

Thankfully, few people dismiss the concept of emergency funds since they should be an essential component of everyone’s personal finances.

What is an Emergency Fund?

An emergency fund, also called a “rainy day fund” or “cash reserves,” is money you have access to in case of an unplanned sudden need.

Typically, these funds are in the form of cash or cash equivalents. We’ll jump into account and investment options later.

Best Apps To Make Money For An Easy Financial Boost

There’s no shortage of apps to make money these days. And given that 96% of Americans now own smartphones, you are primed and ready to start doing just that! But despite all the money-making methods out there, some are decidedly better than others.

So how do you know what are the best money making apps? That’s what we’ll cover in this article. In most cases, you probably can’t make a full-time living using apps, but you can ease the financial burden in a variety of ways.

There are also a variety of different types of apps to make money, such as:

• Cash-back/discount apps
• Task completion apps
• Taking surveys

…and countless more. In reality, we could probably go on all day listing different apps/app categories, but these are the main ones.

What’s the Catch?

If you’re thinking this sounds too good to be true, it isn’t. You are providing something of value, so it only makes sense to be compensated. With surveys, in particular, you are providing valuable input about market trends.

Brands can’t read your mind, after all. They need to know what their potential customers want so that they can make better products. Anyone who has an audience knows that understanding those folks is the most critical element of business success.

Because if you don’t know your audience, how can you succeed? Well, you really can’t.

Don’t Be Fooled By Money Making Scams