High Levels Of Debt Tied To Poor Health, Lower Productivity
No one likes being in debt, but a recent study from Fidelity showed that having high levels of credit card debt, medical bills, student loans, and other financial stressors could actually be hazardous to your heath. Not only that, but being in debt can actually sap workers of productivity, preventing them from doing the very thing that could help them climb out of debt: excel at work.
The Total Well-Being survey, conducted by Fidelity, included responses from 9,315 workers across the nation, all of whom have retirement accounts with Fidelity. Participants included people ages 21 through 75, with a median age of 45, and were fairly evenly distributed according to gender. Two-thirds of participants had a college degree.
Paying off debt, saving money cause stress
Ninety-eight percent of those surveyed said they’d felt anxious sometime in the past three months, and much of that anxiety was linked to money. Thirty-four percent said they felt stressed about saving for the future, and 33 percent were worried about paying off debt. Other stressors included jobs (47 percent) and weight management (30 percent).
Being in a lot of debt seemed to cause more absenteeism at work; respondents with the highest levels of debt reported missing work twice as often as those with lower amounts of debt. Although medical debt was the leading indicator for workplace absenteeism, student loan debt and credit card debt also caused stress for many people.
Lower interest rates, balance transfers can help lower debt
For those who struggle to pay off debt, and whose overall wellness is being impacted by high levels of debt, getting a low interest credit card can be a good way to keep debts down. Unpaid charges on a credit card with a high APR can easily spiral out of control, causing folks to get in over their head financially. But a lower interest rate can keep payments more manageable. Anyone with a good or even average credit score can get access to a credit card for fair credit.
Balance transfers are another easy way to pay off debt faster. By transferring the debt to a card with a 0% interest rate, the amount can get paid off quickly, making it easier to set aside money for savings.
Latest Fair Credit Credit Card News
It is no secret that the employers’ goal is to find a responsible and reliable candidate. And since a good credit history is one of the indicators of trustworthiness, HR specialists of some companies can check potential employees’ credit reports. Sometimes, credit checks may also be conducted by your current employer in case they are giving you a promotion. But the question is whether you should worry if your score is less than perfect.
Once your credit score crossed the “fair” line, on the one hand, you may feel a sense of relief, since you finally got out of bad credit. On the other hand, good credit may still seem so distant.
The new Apple Card credit card has already managed to make a stir. If you are among those who have thoroughly studied all its main features, who fall asleep and wake up dreaming of the 3% cash back* and are counting days till the card’s release this summer, then you must have one more question – “Can I qualify for it?”
It’s hard to imagine life without credit cards or loans these days. Everyone around participates in the race for a good credit score. It is as important for us as nothing else, that’s why you should start building it as early as possible.
Coffee drinkers are in for a treat with the new Starbucks Rewards Visa card, a co-branded credit card for folks who love coffee – and credit card rewards.
Whether you have fair credit, are just starting to build a credit score, or already have good credit, you can apply for the new Starbucks Rewards Visa card from Chase. The card is integrated directly into the Starbucks Rewards customer loyalty program, so it’s easy to redeem rewards. The card is accepted worldwide everywhere that accepts Visa, and rewards can be redeemed for free drinks and snacks at over 8,000 Starbucks locations around the globe.