The new survey released by the National Foundation of Credit Counseling (NFCC) found that while consumers claimed to spend less, more adults now carry credit card balances from one month to another. While we don't have the 2016 data, the survey conducted by Bureau of Labor Statistics showed that average expenditures increased 4.6% to $55,978 in 2015 from 2014. As interest rates continue to rise, adding pressure to reduce credit card debts, it makes us think that financial literacy continues to be an important topic.
In addition to the common good practices, this updated guide gives a summary of the new Blended Retirement System. A portion of current Servicemembers have till the end of this calendar year to weigh and select their option. Click HERE to download a copy or read below.
Beginning December, as part of the partnership between Garrett Planning Network and NerdWallet, our financial planner, Wan McCormick, will answer consumer questions on a pro-bono basis at NerdWallet's Ask an Advisor. Please note that questions answered on this forum are for educational and informational purposes only and should not be construed as specific investment or financial planning advice. Questions aiming for specific advice may be answered by other advisors on the forum, and their answers are not endorsed by Reliable Alliance Financial.
Wan McCormick is a Certified Financial Planner and Accredited Financial Counselor. At Reliable Alliance Financial, our goal is to provide affordable and objective financial advisory to consumers with honesty and transparency.