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The Year to Stop Ignoring Your Piggy Bank, Tips to Make Saving Easier

Focus on savings and a healthy piggy bank in 2019, the Year of the PigHow’s your piggy bank, aka your savings account, feeling these days – heavy and healthy, or skinny and empty? One way we mark change is by making resolutions. If you missed making savings goals part of your New Year’s resolutions on January 1st, or your best laid plans have already derailed, Lunar New Year is right around the corner and gives you another “official” chance to make positive financial resolutions for 2019. 

Lunar New Year marks Chinese New Year, also called the Spring Festival, and it’s all about celebrating fresh starts and new beginnings. To join in the spirit of Chinese New Year and celebrate the Year of the Pig, here are 4 ways and plenty of tips to make this the year you stop ignoring your piggy bank.

4 Credit Card Minimum Payment Myths – How to Avoid the Pitfalls

Get the facts about credit card minimum payments to get out of debt.Credit cards, those shiny pieces of plastic almost feel magical. A tap, a swipe, or a few clicks is all that stands between us and whatever it is we are buying. But the magic of the moment comes crashing down fast when the bill arrives, until we realize that a minimum payment is all it takes to get back to our shopping.

What many people don’t realize is that if you only make minimum payments, credit card debt can and does last a lifetime. The numbers are staggering when we consider specific examples! A minimum payment will decrease by pennies each month, and that’s only if you don’t use the card until it’s paid off. If this feels like a never-never plan, it may as well be.  

To learn what you can do instead of falling for the credit card payment pitfalls, it helps to understand how minimum payments work. Here's where to start...