Managing your money is difficult, and many people struggle with it at least to some degree to keep their finances under control. In fact, about a third of workers who make $200,000 or more a year say they run out of money before they get their next paycheck, according to a Salary Finance survey.

However, although many people have difficulty maintaining their finances under control, many of them are not doing everything possible to improve their situation. In fact, there is one particular money movement that can improve every aspect of your financial life – and not enough people are taking advantage of it.

But despite the fact that nearly half of Americans say they're stressed about money, according to the Salary Finance report, only 19% of people say they'd like to understand financial language better. Even among the group of people who are stressed about money, only 23% think that a better understanding of financial language could improve their situation.

No matter how much you already know about managing your money, everyone can bear to learn at least a little more. You may already have a solid understanding of many financial concepts, which is a great first step. But if you're stressed about money, taking steps to learn even more about the areas that worry you can point you in the right direction to improve your situation and have your benefits. finances under control. And even if you're not currently stressed about your finances, learning more about financial issues can ensure that you're making the best decisions possible.

For example, if you're having trouble paying off a debt, you may choose to learn more about how to prioritize your different debts. By better understanding what you're paying in interest for each type of debt, and then prioritizing those debts accordingly, you can minimize your interest payments and pay off your debt more quickly. Without a solid payment strategy, you may be unknowingly paying more interest than necessary.

Plus, a better understanding of financial basics can help you make smarter money decisions. For example, if you know how to create a budget, you'll have a better chance of spending wisely so you don't run out of money before your next paycheck arrives. And if you also know how to set spending limits on each area of your budget, you can avoid spending more than you earn, which, in turn, will help you save more for the future.

Prioritize learning to improve your financial health
The good news is that there is a wealth of information available online on every imaginable financial topic. Whether you're struggling with debt, finding it difficult to save, or need help managing your money on a day-to-day basis, there are resources to guide you. The first step, however, is simply to recognize that learning more about finances can improve your situation. Even if you feel confident in your money decisions, it never hurts to learn even more to make sure you're doing everything you can to put every dollar to good use.

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If the idea of spending your free time reading and learning about finances isn't so appealing, you're not alone. In fact, a quarter of Americans say they'd rather fill a hole than budget and have their finances under control.

If you don't like to think about money, try thinking about the positive results you will see in the future when you make certain financial changes. For example, try to imagine what life would be like if you paid off all your credit card debt. Imagine all the extra money you'll have, and think of all the stress and sleepless nights you'll be able to avoid. With that in mind, it may be easier to develop an action plan to make that dream a reality.

You can do the same for any financial goal you have. If you know you should be saving for retirement, for example, but feel overwhelmed by the idea of creating a plan and don't know where to start, picture your ideal retirement and let that guide you. Or, on the other hand, it might help to imagine a retirement where you can barely afford to survive because you haven't saved enough. That could serve as motivation to start learning as much as you can now so that you can achieve your future goals and maintain your finances under control.

You know what it means credit score? That's one way to help inform to those who work as moneylenders their ability to pay back the money they lent them.

When determining your score, the credit bureaus consider a number of factors related to your financial history. Thus, including your payment history, whether you paid your account on time, and amounts owed, your past and current credit accounts.

D.and that way, uno credit score 850 perfect is hard to come by. But an excellent score is more achievable.

Why have a great credit score

When you apply for credit, lenders review a detailed summary of your financial history. Known as your credit report, it is used to determine if you qualify for a particular form of credit.

And a part of your credit report is the three-digit number known as your credit score. So if you want to get the best credit cards, mortgages, and competitive loan rates that can save you money over time, excellent credit can help you qualify. Excellent is the highest level of credit score you can have.

What factors influence your credit score?

The various ranges of credit score they vary according to the scoring model of the credit bureau. You can then see what score range you fall in using estimates from the Experian credit bureau.

So, for you to understand the differences, let's bring the main factors that FICO and VantageScore consider. 

FICO Score

Very poor: 300 to 579
Fair: 580 to 669
Good: 670 to 739
Very good: 740 to 799
Excellent: 800 to 850

• The payment history (35% of your score): it has to do with the payment of your previous bills, if you have paid them on time;
• amounts owed (30%): it has to do with the total amount of loans and credit that is being used contrasting with your total credit limit, it is also known as the usage rate;
• length of credit history (15%): the length of time you have had credit;
• credit mix (10%): it has to do with the diversity of credit products you have, including installment loans, mortgage loans, credit cards, etc;
• new credit (10%): How often you apply for and open new accounts.

Credit score: VantageScore

Very poor: 300 to 499
Poor: 500 to 600
Fair: 601 to 660
Good: 661 to 780
Excellent: 781 to 850

• Extremely influential: payment history;
• extremely influential: the duration and type of credit and the percentage of the credit limit used;
• moderately influential: debt/total balances;
• Least Influential: Recent credit behavior and inquiries and available credit.

Read More: 5 things to consider before sharing a credit card

What happens if all $1.6 trillion of student loan debt?

This is what you need to know.

If the forgiveness of student loans does not occur

Although many student loan borrowers are excited about the prospect of complete student loan forgiveness, there is a good chance that all of your student loan debt not be forgiven. If this is the case, what then? Make sure you have a student loan repayment plan. Here are 3 Real Alternatives to Tax Forgiveness student loans.

1. Enroll in the income-based rebate

Income-based repayment plans reduce monthly federal student loan payments based on discretionary income, family size, and state of residence. The result is short-term financial relief, although interest will accrue on your student loans and your balance will likely be higher. Therefore, the cost of your federal student loans will likely be higher under an income-based repayment plan compared to the standard 10-year repayment plan. The good news is that you can receive student loan forgiveness after 20 years (for undergraduate loans) or 25 years (for graduate loans). Most importantly, you will have to pay income taxes on the remaining balance of the student loan that is forgiven.

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2. Consolidate student loans

Federal student loan consolidation is the process of combining your federal student loans into a new federal student loan called a Direct Consolidation Loan. Think of student loan consolidation as an organizational tool to have one monthly payment, one interest rate, and one student loan server. Only federal student loans (not private student loans) are eligible for direct loan consolidation. It is important that federal student loan consolidation does not lower your interest rate. Rather, it is equal to a weighted average of the interest rates on your existing federal student loans rounded to the nearest 1/8%.

3. File for bankruptcy

It may not be an alternative that you want to hear about, but it may be a viable option depending on your individual circumstances. A Navy veteran was recently discharged on a $221,000 student loan. United States Bankruptcy Judge in New York Cecilia G. Morris has ruled that Kevin J. Rosenberg will not have to pay off his student loan debt because it will impose an undue financial hardship on him. Traditionally, unlike mortgages or credit card debt, the student loan debt cannot be discharged in bankruptcy. There are exceptions, however, if certain conditions are met in relation to financial hardship