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Love and Debt: Why you need to talk about money

Valentine's Day On A Budget

What Will You do With Your Tax Cut?

How to Stop Living Paycheck to Paycheck

Setting Financial Goals for the Year Ahead

Financing last-minute Christmas gifts

Your Credit and the Holidays

Where to go for mortgage and debt help

What You Should Know About Debt Settlement

Create a plan to deal with medical debt

Options for Higher Education

Back-to-School Strategies for Staying Out of Debt

Will Changes in Credit Reporting Affect You?

What to do if your medical bills are turned over to collections

What to do if your spouse can't pay his or her bills

What to do when a family member ruins your credit

Homeownership is possible

What you need to know about the IRS and collection agencies

Will being turned down for a store credit card hurt my credit?

Beware of credit repair

Debt Management versus Debt Settlement

How to get ahead of late fees

Is There a Service That Helps You Not Pay Bills

Is a Debt Owed

Patience is the key to furnishing a new home

How to split expenses with your partner

Will my boyfriend's bad credit affect me?

Tax filing options to consider

What to do if your account is turned over to collections

Celebrating Valentine's Day on a budget

Personal Credit and Starting a Business

Finding Money to Reduce Your Debt and Improve Your Credit

Simple Keys to Personal Finance

Be vigilant to avoid telephone and internet scams

Debt Settlement

Understanding credit utilization

Setting New Year's goals that you can keep

The pros and cons of skipping a payment

Strategies for Financially Surviving the Holidays

Creating a fun and memorable holiday on a budget

Keep an open line of communication with parents about their finances.

Make a Choice to Get Ahead Financially

What to do when a relative asks you for money

Should You Buy a Home Now or Wait?

The difference between debt settlement and debt management

Tax Refund Delays for some in 2017

The negative impact of paying a payment 30 days late

Stressed by Finances

How to navigate two significant financial decisions: starting a family and buying a home

How to advise someone close to you who is coming into a significant amount of money

Make a Conscious Decision on How to Spend Your Money

Tips for Back-to-School Shopping

How do you know if you have a good credit score?

Americans spend more money eating out than on groceries

Having Good Credit Saves You Money

Developing good money habits with your first job

How to save for a home

How to Know if you are Ready for Home Ownership

When is the right time to buy a home?

You can improve your credit to buy a home

Plan a Memorable Vacation Without Incurring Debt

The Hidden Costs of Payday Loans

Be Wary of Credit Repair Services

Use Caution when playing the credit card game

What does it mean to say bankruptcy gives you a clean slate?

How your credit is affected by various debt options

Be wary of predatory small business loans

What to do if you fall behind on mortgage payments

Financing a College Education

Money, Credit and Relationships

Should you be concerned with your date's credit scores?

Best options for a small, short-term loan

How to help a relative who is always borrowing money from you

Setting New Year's goals that you can keep

Making the holidays memorable for families on a tight budget.

Skipping a Payment over the Holidays

What to do if you are overwhelmed by medical bills

Make your financial intention a financial goal you can achieve

Should Consumers Use the New EMV Cards?

What to do when a collector calls you

The difference between paying bills and managing your money

My wife and I have gone through some tough financial times, which eventually led us to file for bankruptcy.  Following this experience, I don’t ever want to use credit again, but my wife

What do I need to know to pay ahead on my mortgage?

What to do if you get an unsolicited credit card in the mail

What to do when moving in to share expenses doesn't work out

What Will You do With Your Tax Cut?

Q. My husband and I are anticipating an increase in our paychecks because of the tax cut. We are trying to decide on the best use of this extra money. Improving our financial health is one of our New Year’s resolution.  We would also like to invest in some fun and relaxation for the whole family. Any suggestions on where to start? 

A. Tax cuts are not equally applied. Therefore, depending on your income bracket, you may or may not see an increase in your take-home pay. It would be a good idea to wait until you receive your February paychecks to see if your take-home pay actually increases.

According to the National Endowment for Financial Education (NEFE), 69% of U.S. adults set a New Year’s financial resolution. At the same time, two thirds (63%) of Americans experienced an unexpected expense in 2017. Financial setbacks add to distress and can keep us from accomplishing our resolutions or reaching our goals.

The first step in improving your financial health is to have an emergency savings. An emergency savings will help you weather any unexpected expenses that occur. Having an emergency savings keeps you from going further into debt when the unexpected happens. Saving any increase in take-home pay is a painless way to increase your savings.

Once you have an emergency savings, paying down debt is a good step to take to improve your financial health.  Setting a goal to reduce your debt by 5% to 10% is a way to make progress. Paying down debt also has a positive effect on your credit score. The higher your credit score, the less interest you will pay when you borrow money. This means you save even more money.

Having both an emergency savings and paying down debt will bring you closer to achieving your New Year’s resolution. Spending money for fun and relaxation is not investing and will not bring you closer to your resolution of improving your financial health. However, with a little thought and preparation, you can still have some fun and relaxation.

Why not take steps to improve your financial health and also plan some low-cost family activities?  Good luck with your Near Year’s resolution.

Bonnie Spain is the executive director of the American Center for Credit Education and Consumer Credit Counseling Service of the Black Hills. For more information, email

The material in this transmission is provided for personal, non-commercial, educational, and informational purposes only. ACCE makes no representations or warranties with respect to the accuracy or completeness of the contents of this transmission and assumes no responsibility for errors, inaccuracies, omissions, or any inconsistency herein. You should consult a professional where appropriate.