Author Archives: admin

Starting at 3 PM Eastern today and lasting for 36 hours, Amazon is hosting their annual Prime Day sale!

During this time, deals abound all over the website and even extends to Whole Foods.

The only catch is, you have to be a Prime subscriber to get the discount.

There are two types of deals you can look forward to:

-Spotlight Deals focus on a particular brand and offer steep discounts throughout.

-Lightning Deals that happen suddenly and last only for a short time.

The best way to take advantage of the Prime Day deals is through the Amazon app. It allows you to preview the items they’ll have on sale. If you find something you want, add it to your list and you’ll get a notification once the deal starts. It’s that easy!

If you’re an avid Whole Foods shopper, you can also find great discounts and deals at every Whole Foods store in the nation.

Every item that’s on sale will have a “Prime Day Deal” badge.

Currently, Amazon’s site says you can save:

-30% on vitamins.

-25% on furniture and décor.

-25% on snacks and foods.

-An additional 25% on your first delivery with subscribe.

-45% on large photo prints.

-Up to 50% off on Amazon devices, like the Kindle, Fire, and Echo.

If you don’t have a Prime subscription, you’re in luck! Amazon has an option that allows people to share their Prime subscription with loved ones (much like how the whole family shares a single Netflix account). So, if you know someone who does have a subscription, you can ask them to add you.

Happy hunting!

Written by adminJuly 13, 2018

The government wants to incentivize you to join a gym…and stay there! A staggering statistic reveals that 80% of the people who join a gym in January, desiring to get into shape for the next year, don’t even make it 5 months.

For a country that’s getting bigger around the waste, and with obesity numbers flying through the roof, working out is essential for staying in shape and improving your health.

In a bipartisan effort to try and get more people to the gym, the House of Representatives is looking to introduce a bill that will grant a tax break for most fitness-related costs. No, it doesn’t cover books, videos, or lesser activities, like golf, but gym memberships, classes, and safety-related items will be covered.

The tax break will consider fitness costs as a medical expense and even allow them to use their flexible spending and health savings accounts as payment.

Companies and groups like Fitbit, the Fitness Association, and the American Heart Association have been pushing for such a bill to be passed. Representative Jason Smith, a Republican from Missouri, was quoted as saying that this bill would be “about a fundamental shift in our approach to health care to focus more on ‘healthy living’.”

During the Great Recession of the past decade, the number of gym memberships fell significantly as more people started cutting expenses they could no longer afford. Cost is one of the larger complaints most people have about why they didn’t continue going to the gym, as cited by 46% of people who canceled their membership.

If passed, this tax break will cover $500 for individuals and $1,000 for those who file together with their spouse.

The hope is to get more people back into the gym by helping them overcome the increasing price for membership and even curb some of the additional healthcare costs incurred by obesity and illness.

Written by adminJuly 12, 2018

We’ve covered the ongoing student debt crisis extensively here at Financial Helpers, and we’ve made it our mission to help graduating students know how they can solve their debt problem as quickly and efficiently as possible.

Part of that is having the knowledge to understand how your student debt works and how to tackle it in the future so it doesn’t come back to haunt you. Life can be difficult with this debt, as one small mistake can destroy your credit for years to come.

The best thing to do is know how to handle your debt going in and have a working understand of the credit system. There are three outcomes that can result from your handling of student debt.

1) It can lower your score. (15% of students)
2) Your score can remain the same. (63% of students)
3) You can improve your score. (22% of students)

It almost seems miraculous that you could walk away from student debt with a better credit score than when you went in, but it’s definitely possible if you know what you’re doing.

When you have a higher credit score, you can refinance your loans. To learn how that works, you can give us a quick call today to see if you qualify and to inquire about existing government programs that can reduce your overall debt. It’s worth a quick call if it means saving thousands of dollars over the life of your loan. You can reach us at:

It all comes down to personal behavior towards money. Those who increased their credit score were more proactive about taking care of the debt. They kept their credit card balances down, was never late on a payment, and acted to lower their overall payments.

Those who hurt their credit score ended up borrowing more money and added as much as 78% to their overall balance. Missed payments STILL add interest to your loan, so if you’re not regularly paying down the balance, you could be increasing it.

There are 5 specific criteria that are used to determine your score. Make sure you line up with all 5 and you’ll do well.

1) Your payment history. When you apply to borrow money, you give your word that you’ll pay it back. If you keep your word and make on-time payments, that will reflect well on your overall record. It’s a sign of trust and totals about 35% of your score.

2) The amount you owe. One consideration that will be made is how much debt you currently have. If you have a lot of debt, are maxed out on your credit cards, and keep trying to borrow, that will reflect negatively on you. This is about 30% of your score.

3) Your total credit history. Making a couple on-time payments won’t reflect much on your score, but if you show your reliability over time, it can help nudge your score a few points higher. This is about 15% of your score.

4) Are you new to the game? About 10% of your score is made up simply by how often you apply for credit. If you have a lot of attempts, it can reflect as bad behavior versus someone who isn’t constantly applying.

5) Do you have a variety of debt? If you’re able to successfully manage debt across different spectrums, then you’ll increase your score. For example, if you have a mortgage, credit cards, and student loans and you’re paying on them, you will be more trustworthy. This makes up the final 10% of your score calculation.

Again, it’s all about behavior. If you have an active loan, it’s the best way to build your credit and show you can be trusted with other types of debt. Sadly, studies show as much as 43% of students with student debt will default in the next 5 years.

Ethan Dornhelm, Vice President of FICO, had this to say about improving your credit score after college:

“If (students) can find a way to pay that back in an on-time fashion consistently over a period of months and years, they will be in a position when they reach those life cycle events like wanting to buy a house, a car, or a home. Their FICO score will be in good shape as long as they’re managing their revolving debts and keeping them relatively low, not spending more than what they have, and paying their bills as agreed.”

Written by adminJuly 11, 2018

Here we are, a decade after the worst housing disaster in American history hit the economy. The economy is booming, there are a record number of jobs available, and unemployment claims are lower than they’ve been in 70 years.

Despite this, millennials are still struggling to make due. Riddled with student loan debt and making too little to take care of their bills, more kids are living at home longer than ever before.

According to a study from Zillow, nearly one-forth (or 23%) of millennials are still living with their parents. You might think this is a holdover from the Great Recession, but this number is actually higher than at any other point in the last decade.

Aaron Terrazas, an economist at Zillow, thinks the problem has more to do with the high cost of rent than anything else.

“As rents outpaced incomes over the past decade, young people turned to their families in large numbers to ease the housing cost crunch. But even as the labor market has improved, the family safety net has yet to unwind. Living with parents may allow young adults to pursue work or a passion that may not be especially lucrative, or save enough money for first and last month’s rent or a down payment on a home of their own.”

He makes a good point. The cost of rent has skyrocketed past the increase in wages, making it unaffordable to begin with. Add in the fact that millennials have the highest level of student debt than any other generation (62% of millennials have student debt), that makes it virtually impossible to start life on the right foot.

Danielle Hale, an economist for Realtor.com, agrees.

“Existing debt and lower down payments leave younger shoppers more exposed than others to the impact of rising mortgage rates and record-high home prices,” she said.

By comparison, only 9% of Gen Xers have student debt.

If you have large amounts of student debt, the odds of finding a home and moving on with your life aren’t in your favor. If you’re in this situation and unsure about how to take care of your student debt, give Financial Helpers a call! We’d love to hear from you to discuss your options.

There are government programs and strategies designed to help get you out of student debt faster and cheaper than just paying the bill. The government knows this is a major crisis, but no one knows how long the Trump Administration will keep certain programs in place.

He’s already attempted to target the help implemented by President Obama in a bid to cut government spending, but agreed to keep them for another year to get the most recent budget passed through.

According to the survey, 35% of millennials hope to make their first purchase within the next year, but 98% of those who are looking find themselves running into one obstacle after another, forcing them to push it off longer than they thought.

The biggest problem is the rising cost. If you have a lot of student debt you’re trying to pay back, and not fully employed, the struggle is going to be having enough for a down payment and finding the right home at a price you can afford.

“For millennials, the dream of homeownership is alive and well, but with prices going up and inventory continuing to shrink, this new generation of buyers are facing more obstacles than any other demographic,” says Trulia economist Cheryl Young. “With tight budgets and fewer choices on the market, most millennials are forced to make trade-offs and are more willing than other generations to give up home and neighborhood features in order to find their ideal home.”

Written by adminJuly 10, 2018

Credit & Debt Settlement

The Federal Reserve Bank in New York estimates that the total amount of household debt in the United States has reached $13.21 trillion.

Debt is something we’re all ashamed of. We want to live the perfect American dream, but circumstances haven’t always been present in the last decade to make that happen. So, we’ve had to beg, borrow, and (hopefully not) steal to get by.

From credit card debt, mortgages, and auto loans to student debt, we’ve piled it on and can find ourselves drowning in it before even hit 30.

People who find themselves under mountains of debt struggle even more because they don’t know how to get out from it, especially if there’s a change in income.

What you need is a proven strategy designed to get you out of debt once and for all. Here are four steps you can take:

1) Start by Building Your Savings

One of the most important things Americans need to have is savings stashed away for a rainy day. Yet, according to a survey, the vast majority of us don’t even have access to $400 if we needed it. That’s a scary statistic!

You can’t gain financial freedom without having some money put away in case you need it. Believe, that day will come. That day could be today and you’d be out of luck. Talk to your bank and create a savings account where a certain percentage of paycheck is automatically deposited.

You’ll also want to start an account that’s designed for spending. You’ll probably have to live as lean as possible to get through your debt crisis while saving money for an emergency, but if you have a few extra bucks, toss them into the spending account and they’ll add up. You can use that money for whatever you want.

2) Consolidate/Restructure Loans

There are options out there designed to help you take care of your debts. Most people don’t even take the opportunity to check if they qualify for these options. Restructuring your loan can save you hundreds of dollars per month. Consolidating can combine several loans into one single payment.

One good way to determine if you’re ready for a restructure is by your credit score. If you got a loan when you were younger and your score wasn’t that good, you probably were slapped with high interest. As your score improves, you can be trusted and have your interest lowered.

If you wonder about qualifying for lower interest payments and whether you can consolidate, gives us a call here at Financial Helpers. We’ve helped thousands of people by negotiating better deals with their debtors and lowering their rates, saving them thousands. Call us at the number below today to see how we can help.

3) Attack Your Loans

If you have multiple loans and can’t consolidate them, then there’s a method available to help you decide which loan to tackle first. Garrett Gunderson, chief wealth architect at Wealth Factory, says the best way to do this is by using the “Cash Flow Index”.

Take the balance of a loan and divide it by the minimum monthly payment. The answer should determine which loan is eating most of your cash flow and should be paid off first. If it’s below 50, then that’s a high cash flow loan. If it’s over 100, then you have a more efficient loan.

The idea is to show you’re improving your debt to income ratio. Paying off the lowest cashflow loans first will help you do just that.

4) Be Wary of Investing in Assets

You might think having an investment is a great way to secure future wealth, but at the current moment, it’s dangerous to do, especially if you have high debt. The debt is seriously risking your family’s livelihood and needs to be dealt with. If you can, the best course of action is to cash out and put the money towards your debt instead.

“Money is so accessible and available. People have created a massive amount of debt because we’ve become a society that’s not about the cost of the purchase, but the payment behind the purchase. People look at what they might be able to afford based on the payment not considering any mishaps, emergencies or other issues that may happen along the way,” said Gunderson.

Written by adminJuly 9, 2018

Student debt is a major crisis in this country.

As we’ve previously covered, student debt has risen to a new record of $1.5 trillion. As that number continues to rise, it becomes increasingly difficult to figure out how to pay it back!

This crisis has been around, but it accelerated towards the end of the Great Recession. A lot of students were graduating college, only to find the job landscape barren. There were plenty of people with bachelor’s degrees working at fast food and living back home with their parents.

It’s been estimated by the Brookings Institute that nearly 40% of all student loans borrowers will most likely default on their loans. That’s a scary number!

The problem with default on your loans is it can wreck your life at a time when you’re trying to learn how to stand on your two feet. It sets you back significantly in ways you may not realize at the time.

Jeremy Wine, the supervisor of student loan counseling at Take Charge America, says, “People from all walks of life are defaulting on their student loans, affecting them for years to come. Paying student debt must take top priority.”

Here’s a list of 5 things that can happen if you default on your student loans.

1) They can demand payment in full.

Once you graduate, you’ll have options for paying back your loan. It’s typically set to be a monthly payment, but what happens if you miss one? Your account will be considered delinquent. Interest is typically added. It takes about nine months of non-payment to be considered in default.

At that time, your creditor can then decide they want the payment in full. No payments will do…you had your chance! It will be their discretion on if they’re willing to work with you further. Your loan will remain in default until the whole thing is paid off.

The best way to avoid this is to stay in constant communication with your creditor. Let them know if you need to skip a payment, but it’s best to make the loan your biggest priority, as it will hurt you down the line if you don’t.

If you feel lost and need to know what your options are, call Financial Helpers today. Our team of student loan experts are standing by to help you through the process, show you what you can do, and even help you apply for existing government programs before they get closed for good. You can reach us at:

2) Major collection costs added.

If there’s one thing banks are good at, it’s collecting extra fees. If your loan defaults, they’re going to go out of their way to find you and it won’t be pretty. Fees ranging as high as 20-40% can be added to your loan. Making the loan bigger is the last thing you need!

3) Wreck your credit score.

One of the worst things that will happen to you if you go into default is the impact on your credit score. As soon as you are 9 months delinquent, your credit score will reflect that you’re in default, and the score will drop significantly. Payment history is a huge factor in determining your score, so it will remain until the loan is paid off.

4) They’ll come after your paycheck/refund.

A lot of people think they can just graduate college and not pay their loans. It’ll disappear on their credit after 7 years anyway! But what they don’t realize is, the bank is going to come for your money and they’re tied to the government.

If you don’t make regular payments and go into default, say goodbye to your tax refunds. The government will take most of it. If you’re married and you file jointly, they’ll take your spouse’s refund too. They’ll even garnish your paycheck.

The good news is, this is mostly their way to get your attention. The wage garnishment will continue until you call them and set up a real repayment plan.

5) Default will prevent you from being trusted.

Your credit isn’t the only thing that will be harmed by not paying your student loans. Your credit history is pulled for a lot of things you want to do in life. Need to get a new car? Rent an apartment? Get that big job? You might get a big, fat NO if they see you’re in default.

Other professional employers looking to hire you, like doctors, teachers, lawyers, and other service workers can have their license taken away if they’re in default, so trying to find a job in any of those sectors would be extremely tough.

“It’s best to deal with it immediately. I know it’s really challenging because student loan debt is so high and it’s unmanageable for some borrowers, especially when they are placed in a standard repayment plan. But ignoring it and not doing anything about it is one of the worst things to do,” said Wine

Written by adminJuly 6, 2018

On this site we’ve covered student debt and how much it can negatively impact your life.

Americans owe $1.48 trillion in student debt and it’s crippling a lot of people the moment they step out of college and university halls.

Yet, once students graduate, a lot of them continue to make bad financial decisions that leave them struggling in life outside of college.

Here’s the deal: there’s no reason why you should spiral out of control or feel shame that you have this debt. You have to be proactive and decide you’re going to get it taken care of quickly.

If that means moving back home as part of the process, then don’t be afraid to do it. Not everyone will settle into the career of their dreams immediately after graduation. In a lot of cases, if you have outstanding debt that defaults, you legally won’t be able to work in your chosen field, as the state will pull your license.

The overall problem with debt is even when you pay it off regularly, most of the payments you make go straight to interest. And you better believe the bank gave you an interest-heavy loan coming out of high school, with no income and a lack of work experience.

If you’re one of millions of graduates suffering with student debt you’re not sure how you will ever get paid off, here are 7 strategies that will help you:

1) Set an Aggressive Payoff Date

If you just stick to paying the minimum amount, you can spend the next 8-10 years paying off your debt, the majority of your payments going towards interest. That’s thousands of extra dollars you don’t need to be paying, and you won’t if you pay more than just the minimum each month.

Rather than sticking to the minimum, set a more aggressive payoff debt. It’s very possible to pay off your debt in 3-5 years instead of 8-10. Having a sooner date will keep you motivated!

2) Look into Refinancing

Your current rate doesn’t have to be the same rate you pay throughout the life of your loan. If you’re doing well after you graduate, you have a job, making decent money, and your credit score has improved, then you can refinance your loan and get a better rate. You can ultimately save thousands of dollars by refinancing.

3) Do Your Research

As discussed in the first strategy, a lot of your payment goes towards interest. Whatever you pay after that goes straight to the principal amount. It’s always a good idea to have a working understanding of how your loan operates, how much of your payment goes towards interest, and so on.

If you have more than one loan, you can decide to pay the smaller one off sooner (which can motivate you big time). What you decide is up to you, but you really can’t get into the game without knowing your numbers and having a good idea how it works.

4) Don’t Go the Forbearance Route!

It’s always tempting to want to push off making payments, but it’s not practical! You might be thinking you’re buying yourself some time, but the interest will still add up! You can add thousands of dollars’ worth of interest this way, only making the process take years longer. So, even when money is tight, pay your bill.

One of the first steps in achieving this freedom is asking for help. We are the experts in taking care of student debt problems, including refinance and debt consolidation. If you have any questions about your options, give us a call at the number below!

Call Now 844-851-8148

5) Look for Ways to Cut Your Spending

This part will suck, but remember, it’s only temporary! If you want to get rid of your loans sooner, cut back on spending. Can you forgo the vacation for the next couple of years and apply that money towards the loan instead? Maybe consider a cheaper car, cutting cable, and waiting to buy that house. Your #1 goal should be getting out from under this massive burden.

There are lots of things you can do to help make the process go faster:

-Get a roommate to help share the bills.

-Get a second job or even a side hustle.

-Give up the luxuries. If you don’t need that gym membership or the extra subscriptions, cut them!

-Move back home. If your parents are willing to help you out, take the time to settle in your new career while paying less bills, allowing you to pay off your debt sooner.

6) Keep Track of Your Payments

A great way to stay motivated is keeping track of your payments. With each payment you make, you can see your overall total going down, which is such a good feeling. You can use a spreadsheet or just record the numbers in a notebook. Either way, keeping track is effective!

7) Don’t Give Up!

I know it’s tough looking at that big number and staying motivated. It might make you want to push off paying it, or avoid is as much as possible. This is the worst thing you can do, as mentioned previously, the interest will still rack up. The only way to get rid of it is to pay it off. Declaring bankruptcy won’t touch your student loan.

It’s a lot of money, but you can do it! And if you’re proactive, you can do it in a few years. Even if money is tight, keep paying. Before you know it, you’ll have achieved financial freedom and can move on with your life.

Written by adminJuly 5, 2018

In 1992, the Supreme Court made a landmark ruling that declared states couldn’t collect sales tax on purchases made outside of the state. They could only tax physical brick-and-mortar stores that were selling the item within the state it was being bought.

For example, if you lived in Iowa and bought something from a Sears catalog, Iowa couldn’t collect a sales tax on that item because it was most likely being shipped from out of state.

Fast forward nearly two decades and you’ll see that same law applied to all online purchases, including ecommerce. If you bought something on Amazon, sales tax wouldn’t be applied to the price.

Brick-and-mortar stores have felt this gave online companies a huge advantage over them. If you had to choose between buying a couch on Wayfair verses going to local vendor and paying extra for included sales tax, where would you shop?

Now, the Supreme Court has reversed its previous ruling. In a 5-4 decision, the highest court in the land has decided that states can collect sales from all online retailers.

While this will inevitably make online shopping more expensive for the everyday consumer, the court felt the previous law was outdated and allowed businesses to avoid having a physical presence in certain states.

In explaining his vote, retiring Justice Anthony Kennedy said, “The Internet’s prevalence and power have changed the dynamics of the national economy. The expansion of e-commerce has also increased the revenue shortfall faced by States seeking to collect their sales and use taxes.”

Online retailers believe this is a bad deal for them, as it will push people to once again shop locally for items like electronics, furniture, and jewelry.

States, especially states that are cash-strapped and could use more tax revenue, are thrilled they get to tap into a $453 billion industry.

They saw their tax numbers dwindle as more people avoided the box stores in favor of online buying, literally taking money out of the state’s pockets. According to the Government Accountability Office, states have lost as much as $13.4 billion last year alone.

There’s still more they would have to do though, as a lot of states had different rules.

One big question online business owners have involves how this new law will handcuff smaller businesses. There are already laws on the books for bigger companies, but now that the doors are open for all businesses to get taxed, this ruling might completely kill smaller industries.

Companies like eBay and Overstock want the Congress to pass news laws that exempt small online businesses from being taxed to keep internet innovation strong.

It’s unknown if this ruling will change much, as most people choose to shop online for the convenience, but now that stores feel they are at an even playing field, we’ll see how the sales stack up this holiday shopping season and beyond

Written by adminJuly 5, 2018

It certainly is a great time to be alive when companies are competing to see who can spoil their customers the most.

Earlier this week, I bought an Amazon gift card for a friend who lives over a thousand miles away and they offered same day shipping! She got it a few hours after I ordered it.

I imagined a drone touching down in her front yard, but she said it came via delivery. Still, the idea of drones delivering packages is both amazing and frightening.

Dominos is trying to change the pizza game by offering to fill in any potholes that threaten to damage your pizza. Their ads make me wish I had a Dominos in my town.

Now Kroger is testing whether it can be the first grocery store chain in the country to deliver groceries to their customers in driverless cars. To save costs, there won’t be a human there to keep the car from doing something wrong.

The idea is similar to the curbside pick-up program they have now, but instead of having you drive to the store or wait in long lines shopping for yourself, they’ll shop for you, load the groceries into their special cars, and deliver them to your home.

All you have to do is order what you want online or via their app.

Kroger, based out of Cincinnati, is partnering with a Silicon Valley startup company called Nuro. Nuro was founded a few years ago by two engineers who used to work for Google’s Waymo driverless car project.

Kroger’s delivery service looks to start at the end of the year and will most likely begin in California and Arizona via the Fry’s Supermarket chain.

Currently, Kroger offers home delivery in about 1,200 of their stores, but hopes to eventually expand driverless car delivery to the majority of their market in the coming years. This will save the company money, decongest their stores, and even provoke shoppers to spend more money.

Earlier this year, Kroger announced that online shopping has boosted their sales as customers tend to spend more money shopping on the website than they do at the store, citing the convenience factor as the main cause.

Written by adminJuly 3, 2018