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3 Tips for Using Buy Now, Pay Later

The payment industry is evolving and with it, comes the emergence of buy now, pay later services. This new payment platform offers a fresh take on traditional financing options, allowing customers more control over how and when they pay for purchases. But, before you dive into using buy now, pay later, there are some helpful tips to keep in mind.

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Handling FOMO

Jonathan Pond, writing for Ponderings:

FOMO – fear of missing out – is a very real phenomenon that has been the subject of considerable research. FOMO is becoming even more acute thanks to social media and the speed with which information becomes disseminated. You hear about someone’s financial success or a big increase in the stock market and worry that you’re being left behind. This can lead to bad or at least ill-timed decisions. The same can be said for FOMO in declining markets where an investor may lament missing the opportunity to get out of bad investments before they plummeted.

Like most good habits, inoculating yourself against FOMO takes discipline. The day-to-day vacillations in the investment markets and the feelings of envy of those who apparently benefited mightily from some investments are going to get in the way of your otherwise sensible approach to your own financial life. Sure, some stock sectors or individual stocks hit it big in a single day, but these are the ones that usually lose as much or more soon thereafter. Who cares about the big winners, anyway? If you maintain a consistent approach to your investing and are prudent in your financial life, you’re almost bound to eventually be a big winner, leaving those afflicted with FOMO in the dust. 

While Mr. Pond may have been referring more to the stock market in this instance, I thought the timing was still great for this time of year, as we’re inundated with ads, emails and the like telling us “only 11 hours left for the greatest deal ever” or “such and such TV is on sale even though you just bought one last year,” etc. 

With that, how have you managed to avoid FOMO this holiday season or in general? Feel free to leave a comment below!

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Keeping a Fiscally Fit Well-being

The last couple of years has presented a challenge regarding personal finance. The pandemic has brought troubles to the job market, upended the supply chain and healthcare costs, and more. Then 2022 has brought continued inflationary risks, overseas conflicts, and more.

Despite that, here are some solid reminders that can help you stay “fiscally fit,” no matter what external matters may be going on.

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6 Ways Interest Rate Increases May Affect Your Personal Finances

The Federal Reserve is continuing to raise interest rates to combat inflation. It’s raised rates more times already than it has in 28 years. You would think then that as inflation eases, it would make expense management a bit easier for consumers. However, as rates rise, so too does the cost of borrowing money – with everything from home loans to credit cards – continuing to go up. Here are some areas you might want to keep an eye on in your finances, according to GoBankingRates.

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