Kicking Assets

A young person's guide to personal finance

Tag: personalfinance

“Premium” and “Cheaper” Grocery Stores. Where Should you Shop?

April 23, 2020 / / 0 Comments

Written by: Kristina

Everyone seems to have their “go-to” grocery store, but what leads them to choose that grocery store? Is it the unbeatable prices or quality of the food? This blog will go through the pros and cons of the premium grocery stores as well as the cheaper groceries. In the end, you can decide which is the best to shop at.

Pros of Premium Grocery Stores

Ultimately, one of the pros of going to a premium grocery store is going to be the freshness and quality of the food you are buying. If you’re paying the money, it most likely is going to be higher quality. For example, many prefer to shop at stores such as Whole Foods because of the freshness and health benefits such as the natural products. A lot of these products are vegan or vegetarian which is helpful when living that lifestyle.

Cons of Premium Grocery Stores

One of the more obvious cons is going to be the price. Price could be higher because of the quality of products, but there may also be some other factors that affect price as well. This includes distributor pricing. While the stores may be receiving the same product, some may receive it for less because the distributor offers them more of a discount.

Pros of Cheaper Grocery Stores

A huge pro of cheaper grocery stores is the price difference. Products can differ even a couple of dollars, but in the end everything adds up. In this case, you can buy more for your money or save some money that you won’t need to spend. Some of the cheapest grocery stores in America is Aldi or Walmart.

Cons of Cheaper Grocery Stores

If you’re going to a cheaper grocery store, odds are there is a possibility of the food not being as high of quality. While this isn’t always the case, there’s probably a reason the store is so much cheaper compared to other stores.

All in all, if you’re concerned about price and quality of food, it’s possible to find a grocery store who offers both! Clark.com offers a list of the cheapest and best quality grocery stores. This includes Aldi and Trader Joe’s. Check out this list and see which grocery stores you think are the best!

#budgeting #personalfinance #groceryshopping #smartmoney

Edited by: Brianna

It’s Time to Say Good-bye to that Debt

April 2, 2020 / / 0 Comments

Written by: Kristina

Whether it’s credit card debt or student loan debt, debt is horrible and is something nobody wants lingering around their life. Unfortunately, as the years go on debt continues to rise more and more. According to NPR, national debt is expected to reach $28.7 trillion by 2029.

Although debt can be a burden, there are some ways you can relieve yourself of debt more quickly. (And no, one of these tips is not to take classes for the rest of your life so you never have to pay off loans!)

Pay More than the Minimum

Let’s say the minimum for your credit card payment is only $50.  Having a credit card in the first place probably means you have a decent income in order to have gotten approved. If possible, try paying more than that $50 to reduce the debt faster. Even doubling this payment to $100 will significantly reduce the amount needed to be paid.

Not only will this help with debt, but it will also help with interest rate. Most credit cards include an interest rate and the longer you don’t pay something, the more interest you will collect ultimately paying more than you would have in the beginning. An awesome tip when dealing with credit cards is to only use it if you know you can pay it off right away. This can almost completely avoid interest all together and keep you out of as much debt as possible.

Focus on the Debts with the Highest Interest Rates

The goal here is to be debt free, but to do that you’re going to want to start paying off the debts that are accumulating the most interest. This sounds like common sense, right? Rather than allowing more interest to add up, just knock these out first. This is not to be confused with the debt snowball method. This method suggests you should start with the smallest payment and slowly move up. Though this may sound like a good idea, in the end I’d want to insure that I paid the smallest amount I had to.

Get a Side Job

In the end, if nothing else works for you, you may decide it’s time to just get a side job. This can be something temporary just to give that extra push to pay these off faster. To discover new ways to make some money on the side check out, Finance Buzz.

While there are so many things you can try to pay off debt faster, these are just a few to help get you started.

Edited by: Victoria

#debt #studentloans #personalfinance

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