News

Watching close friends and family members get hitched is a joyous occasion. Who doesn’t love love, and having the chance to witness two people declare their devotion to each other?

But perhaps your money situation is so tight that every new engagement announcement you see gives you a sinking feeling in your stomach.

USA Today reports that on average, wedding guests who are close to the couple getting married spend just over $600 on the festivities, gifts, and traveling expenses. And for members of the wedding party, the numbers are closer to the mid-$700 range.

We’re all human and no one is perfect. Most of us have made errors when it comes to one of the most important areas in our lives – our finances.

New Era Debt Solutions provides solutions to four common money mistakes:

Is increasing the national minimum wage a good thing for the economy? How will it affect business? How will it affect you and your personal finances?

High and increasing inflation rates have triggered these questions about the national and state minimum wages over the last few years. In order to catch up with the rising costs of living and housing, a national plan was made effective on January 1st of 2017 to increase the minimum wage yearly until January 1st 2022, when it will be $15 an hour. For small businesses with less than 26 employees, the plan is stretched an extra year until 2023.

For many people, it’s easy to slip into credit card debt. In fact, information from the U.S. Census Bureau and the Federal Reserve reports that more than 40% of households are held up by credit card debt, with the average American family holding balances of just under $6,000.

Unfortunately, credit card debt isn’t one of those problems that will resolve itself. That’s why New Era Debt Solutions urges our clients to be proactive when it comes to taking control over their finances. So before throwing in the towel and filing for bankruptcy, consider these four other debt relief options: