Skip to main content

ads3

The Best 529 Plans in 2025: Top States and Investment Options That Make Saving for College (Almost) Fun

The Best 529 Plans in 2025: Top States and Investment Options That Make Saving for College (Almost) Fun "College may cost a fortune, but saving for it shouldn’t feel like a second tuition." 💸 Welcome back, budget rockstars! If you're saving for your kid’s (or your own) education, you've probably heard of the legendary 529 plan —the financial unicorn that helps you grow money tax-free for education expenses. But here's the kicker: 👉 Not all 529 plans are created equal. Some are investment beasts with low fees and high performance. Others? Let’s just say they need a financial makeover. Today, we’re diving deep into the best 529 plans of 2025 , which states are winning the savings game, and how you can choose the right plan— even if you don’t live there. So grab your coffee (or calculator), because class is in session . 🎓 Quick Refresher: What’s a 529 Plan, Anyway? A 529 plan is a tax-advantaged investment account specifically for education expenses. ...
Post a Comment

How Much Credit Card Debt Does the Average American Carry Each Year? 💳

 


Ever feel like your credit card balance is weighing you down? You’re not alone!

Credit card debt has been piling up across America, and the latest numbers might shock you. Let’s break it all down—who has the most debt, why it’s growing, and how to break free.

📊 The Average American’s Credit Card Debt (Latest Data!)

As of 2024, the average American carries about $6,730 in credit card debt—a 3.5% increase from last year. 😬 (Experian)

💳 Credit Card Debt by Age Group:

  • Gen Z (18-27 years old): $3,456

  • Millennials (28-43 years old): $6,932

  • Gen X (44-59 years old): $9,557 (yikes!)

  • Baby Boomers (60-78 years old): $6,754

  • Silent Generation (79+ years old): $3,428

👉 Gen X carries the most credit card debt, while younger and older generations owe less.

📍 Debt by Location:

  • Highest: Alaska – $7,863

  • Lowest: Kansas & Wisconsin – Around $5,230

(Source: The Motley Fool)

📈 Why Is Credit Card Debt Rising?

💰 1. Inflation is Squeezing Wallets
From groceries to gas, prices have surged, forcing many people to rely on credit cards just to cover essentials.

🏠 2. Cost of Living is Sky-High
Rent, healthcare, and everyday expenses are outpacing income growth—so people are swiping their way through the month.

📉 3. Minimum Payments = Lifetime Debt
Only making minimum payments? At a 20% interest rate, a $6,000 balance could take over 15 years to pay off!

🤯 4. Buy Now, Regret Later?
"Buy Now, Pay Later" services (BNPL) like Klarna & Afterpay make spending feel painless—until the payments pile up.

🚀 How to Tackle Credit Card Debt (Before It Tackles You!)

✔️ 1. Stop the Cycle – Freeze Spending
If your debt is growing, pause non-essential spending for 30 days.

✔️ 2. Pay More Than the Minimum
Even $50 extra per month can save thousands in interest.

✔️ 3. Use the Avalanche or Snowball Method

  • Avalanche: Pay off high-interest debts first.

  • Snowball: Pay off smallest debts first for quick wins.

✔️ 4. Consider a 0% Balance Transfer Card
Many cards offer 0% interest for 12-18 months—giving you time to pay down debt interest-free.

✔️ 5. Boost Income (Even a Little Helps!)
A side hustle, freelancing, or selling unused items could wipe out debt faster.

Final Thoughts: Are Americans Drowning in Debt?

🚨 The numbers don’t lie—credit card debt is rising fast. But with a solid plan and smart money habits, you CAN take control.

💬 How do you manage your credit card debt? Drop your thoughts below! 👇💰

📚 Suggested Reading & Free Tools

📖 Helpful Articles:

🛠 Free Tools:

🚀 Need more tips? Subscribe to Better With a Budget for weekly money hacks!

Comments

Post a Comment

Popular posts from this blog

How to Build a Personal Finance Plan Using the Baskets Saving Method

Introduction Managing money without a plan is like trying to juggle with your eyes closed—it’s messy and stressful. One of the smartest ways to take control of your finances is by using the Baskets Saving Method , a simple yet powerful strategy that helps you allocate your income into different categories. This approach ensures your money is working for you, covering both needs and future goals. Let’s break down how to create a personal finance plan using this method! What is the Baskets Saving Method? The Baskets Saving Method involves dividing your income into different "baskets" (or accounts) based on specific financial goals. Instead of keeping all your money in one lump sum, you allocate it strategically to ensure financial stability and growth. Step 1: Identify Your Financial Baskets Here are some key baskets you should consider: Essentials Basket (50-60% of Income) – Covers rent/mortgage, utilities, groceries, transportation, and insurance. This ensures you...
Post a Comment
Read more

YNAB Cost: Is It Worth the Investment for Your Budget? 💳📊

Budgeting tools aren’t free… or are they? Let’s talk about whether YNAB’s price tag delivers real value for your money—or if you’re better off sticking with free options. When it comes to budgeting apps, YNAB (You Need a Budget) is like the cool kid in town. It’s smart, efficient, and has helped thousands of people break the paycheck-to-paycheck cycle . But unlike some other budgeting tools, YNAB isn’t free. So, the big question is: Is it worth the cost? Let’s break down the price, what you’re getting for your money, and whether it’s the right tool for your budget. How Much Does YNAB Cost? 💸 YNAB offers a subscription-based pricing model , and here’s the latest breakdown: Monthly Plan: $14.99/month Annual Plan: $99/year (billed annually)—that’s a savings of about $80 per year compared to the monthly option. For new users, YNAB offers a 34-day free trial —no credit card required. That gives you a full month to see if it’s a game-changer for your finances. Is It Expens...
Post a Comment
Read more

How to Create a Monthly Budget That Actually Works

  "I’ll never forget the day I realized I had no idea where my money was going. I was standing in line at the grocery store, credit card in hand, praying it wouldn’t be declined. Payday was still a week away, and my bank account balance was a terrifying $12.56. I had a good job, steady income, and yet I felt completely out of control. That’s when I decided something had to change." Sound familiar? If you’ve ever felt like your money disappears as soon as it hits your account, you’re not alone. Budgeting can feel like a chore—or worse, a restriction—but when done right, it’s the exact opposite. A budget isn’t about limiting your freedom; it’s about giving you the freedom to spend on what truly matters to you. In this post, I’ll walk you through step-by-step how I created a monthly budget that not only works but also allowed me to save for my goals and finally feel in control of my finances. Let’s dive in! Step 1: Face Your Finances (Yes, Even If It’s Scary) I’ll be hone...
Post a Comment
Read more