Higher education is a valuable investment in both time and money, but it is proving to be far too expensive for young Americans while not aligning with the students’ professional needs. The college financing system is not serving students in a satisfactory capacity. The reality is that the student debt crisis is severe — current numbers put the cost of student debt at a whopping $1.5 trillion . Add to this the rising cost of education, living expenses, and slow wage growth, student loan debt effectively hamstrings the potential of our best and brightest.

The impact of student loan debt can be felt across the economic spectrum, spanning from low-income to upper-middle-income households. Chegg conducted an independent survey of 1,100 adults ages 18 to 39 and found that half of borrowers with household incomes over $75,000 were worried about being able to save. One in three borrowers across all income levels forego paying another form of debt in order to repay student loans. Financial worries also come with a psychological toll . The student debt crisis has a negative impact on health as borrowers are forced to choose between medical checkups and repaying their loans. Furthermore, these financial burdens can cause depression and anxiety. Among young professionals, suicide has been linked to debt. …

Credit is a powerful financial tool, but misusing it can lead to a bruised ego, or worse, a bruised wallet. Credit score, credit cards, credit, and debt it’s important to know what they are and how to use them, but conventional understanding can be rife with myths and misrepresentation. To polish up your financial knowledge, this blog is dedicated to clearing up any myths about credit that you may find yourself subjected to so that you can be wiser about your spending and your credit score.

Myth: Checking your credit report can hurt your score

Regularly checking your credit score can be one of the best things you do as a credit card user. What happened to the rumor that checking your credit score hurts it? An “inquiry” goes on your credit report any time someone looks at it, but the inquiries can be divided into “soft” and “hard” inquiries. A request to see your own credit report qualifies as a soft inquiry and has no impact on your score. A hard inquiry can result when you apply for a new loan or other types of credit, and because this suggests adding debt, your score might fall. …

It’s natural in the business life cycle and timeline to see a fluctuation in client intake. Think of it as the seasons: you can’t be in bloom all year, so while sometimes you’ll have a large influx of clients, it’s likely that things will fall fairly silent for a little bit. While this is normal, it isn’t ideal, and there are some things that you can do to keep the clients coming. Even better, these ideas don’t cost much! According to reports by , attracting new clients can cost five times as much as retaining current ones. …

A small business can start with something as simple as a great idea. It is important, however, to bear in mind that a great idea alone will not lead to business success. Small businesses and startups naturally start in major cities, which provide them with a huge potential customer base. Challenges will undoubtedly arise, but before you start it’s a good idea to get a sense of how you might fare. With so many competitors in the same market, how do you find out if your business idea is viable? …

Fintech, the portmanteau of “finance” and “technology,” is a fast-moving field. Community banks and credit unions need to stay on top of fintech trends especially as we continue into the next decade. Today, we’re going to take a look at some of the that are going to shape the finance sector as we roll into 2020.

Big Banks Bring Innovation

In the last decade, banks haven’t changed much, but it’s worth remembering that large banks used to be a breeding ground for innovation. The first ATM came from Barclays in 1967, and Bank of America introduced the first all-purpose credit card in 1958. Now, big banks are returning to their roots as they’re assembling teams and labs to develop new ideas. JPMorgan currently employs 50,000 technologists, while Bank of America is the world’s largest blockchain patent holder. Even small banks are partnering with fintech startups, proving that this isn’t limited to just large banks. Although this push for innovation has not yet changed the way that big banks conduct business, in the future, it likely will. …

Entrepreneurship is not becoming more accessible than ever and is no longer limited to just business veterans and boomers. More millennials are starting businesses in favor of flexible schedules, freedom, and the work-life balance that comes with it. Many of these young entrepreneurs are proving that age is only a number as they deliver some of the most exciting new ideas and innovations in business and technology. Clean energy and digital media have benefitted from this new wave of entrepreneurship as young people show that starting a business doesn’t necessarily require decades of experience. Of course, this comes with a caveat: a great idea alone won’t make your business succeed, and you’re likely to run into a whole host of challenges that seem especially daunting when you don’t have lived experience. Fortunately, however, the wisdom of others can help guide your journey into the world of small business ownership. …