NEW YORK, March 14, 2023 (Newswire.com) - Credello: Studies show that Millennials often have debt. The average amount is almost $30K. Some have more, while others have less, but it's a sobering number.  

There are actions you can take if you're a Millennial and you're carrying this much debt. We'll talk about some strategies right now.

Get a Personal Loan

Many Millennials are paying for things with credit cards. This is tempting, but it can backfire. Credit cards can have interest rates close to 35%. 

If you have several outstanding debts, how much of a personal loan can I get should probably be the question you're asking. If you approach a bank or credit union and get a personal loan, you can use that money to pay off your debts. 

Why Are Personal Loans So Attractive?

Getting a bank or credit union loan simplifies your life. If you do this, you only have one loan to repay, rather than owing several different credit card companies and other entities. 

Also, when you get a personal loan, you're liable to pay much less in interest when you're repaying it than you would if you're paying off outstanding credit card debt. We mentioned that credit cards can charge as much as 35% in interest, but you usually pay far less with personal loans. 

You can sometimes get interest rates of 8% or lower with personal loans if you have excellent credit. If your score isn't the best, you might still get an interest rate of 15% or lower. That's much better than the 30-35% you'd likely pay with credit cards.

What Else Can You Do?

As a Millennial dealing with debt, you'll know a set amount you must pay each month once you have a personal loan. The next step toward financial responsibility is to pay all your other bills on time. 

With a personal loan in place, you owe money to one entity as a set payment amount each month. You will also have monthly expenses such as rent, utilities, groceries, and car payments. 

If you set up a household budget and stick to it, you can stay on top of those other bills while you pay off the personal loan. You can create a spreadsheet showing how much money you're bringing in and the cost of your expenses. 

Improve Your Credit Score

When you make payments on your personal loan and on-time payments of your bills, that will gradually improve your credit score if it isn't so great. Making on-time payments raises your VantageScore and FICO scores. That's always to your benefit.

You should not open any new credit card accounts if you can avoid it. That way, you won't be tempted to use one of your new cards and spend beyond your means. 

You can also set up autopay for your bills. You can set up a service that monitors when you pay your bills and reports that to the major credit bureaus.

You Can Chip Away at Your Debt

If you're a Millennial with tens of thousands of dollars in debt, you can consolidate the entities to which you owe money by getting a personal loan from a reputable lending entity. You can use that money to pay off your credit cards and other debt. 

You'll likely pay far less interest on your personal loan than credit card interest. You'll have one entity to pay each month, and you'll know the amount that's due.

In addition, you can budget by setting up a spreadsheet and calculating how to spend the money you have coming in on your monthly bills. If you don't miss any payments, you'll stay on top of those bills, and you'll raise your credit score.

You should have excellent credit by the time you've paid off the personal loan. You're now in a position to keep your credit score high and avoid getting deep into debt through frivolous spending habits.

About Credello

Credello is a financial tech company offering a personal finance tool that simplifies financial decisions through personalized, on-demand recommendations — so users can borrow, save, or invest with confidence.

Credello believes that finding the right financial product should be as easy and interactive as online shopping and we are on a mission to make that possible. For more information, please visit https://www.credello.com. 

NEW YORK, March 13, 2023 (Newswire.com) - Credello: You might be nervous about paying your taxes, but it's a straightforward process if you keep specific dates in mind. Let's run through some of the key dates regarding tax filing in 2023.  

Can You Use Personal Loans to Pay for Your Taxes?

Before we get into the important tax dates for 2023, we'll briefly discuss how you might pay if you have a tax burden. If you owe the IRS money, you can pay with cash you have in savings. You might also borrow some money from a family member if that's an option.

Knowing how to apply for a personal loan can help as well. Getting a personal loan from a credit union or bank and paying your tax obligation that way might make sense. If you do this, make sure you get a loan with a reasonable interest rate.

Tax Day

Every year, there's a date officially known as "Tax Day." In 2023, that day is Tuesday, April 18th. We're still a few weeks away from when most Americans must file their taxes.

Tax Day is usually April 15th, but this year, that's a Saturday. Also, the federal government has elected not to make Monday the 17th Tax Day since Washington D.C. recognizes that as Emancipation Day. 

Are There Any Exceptions?

Almost every year, certain citizens are exempt from needing to file taxes on Tax Day. This year, California storm victims have longer to file their taxes. That is a much-needed action since California storms have devastated part of that state.

The California residents the storm impacted have until May 15th to file. If you're trying to wait until that date, you must prove that you're in one of the areas designated by FEMA as needing aid. You can get on the FEMA website if you're in California and you're unsure whether you qualify or not. 

Are There Any Additional Exceptions?

The IRS is also pretty lenient about letting you have an extension if you feel you can't get all the necessary paperwork together by April 18th. You can ask the IRS for an extension, and they will automatically give you one for an additional six months.

When you hear this, you might be overjoyed. If you can get a six-month extension, that takes you all the way into October. Why would you bother filing on April 18th?

The reason is that just because the IRS has granted you additional time to file, that doesn't mean you don't still owe money on April 18th, assuming you owe money and are not due a refund. If you fail to pay the taxes you owe on time, and you file after April 18th, you'll not only still owe that money, but you'll also likely have to pay a lateness penalty.

What About State Taxes?

There's no national day when state taxes are due. You must check out the day taxes are due for your individual state. Some are due on April 18th, the same as your federal taxes. Others have later deadlines.

Nine states do not levy income taxes, and if you live in one of them, consider yourself lucky. You just saved yourself some money.

The Tax Dates to Know

For most Americans, Tax Day is Tuesday, April 18th. You have an automatic extension till May 15th if you live in a part of California impacted by the storms earlier this year. You can check the FEMA website to see if you're eligible.

You can also ask for a six-month extension on your taxes, but if you owe money, you'll still owe it if you file later, and you'll also get hit with a lateness penalty. You should pay on time if you can.

Only forty-one states collect taxes, and if you live in one, you should check to see when your taxes are due. Many states use the federal deadline, but some will allow you to file later.

Pay attention to these dates. If you don't, lateness penalties are likely in your future.

Petworks Best of 2022
Petworks Best of 2022 Award

WESTPORT, Conn., March 13, 2023 (Newswire.com) - Petworks (https://www.petworks.com), the one-stop shop for pet wellness, specialty and time of need services, announced its awards today for pet care professionals who went above and beyond in their service to pets in 2022. This year's winners represent the platform's top 2% of pros based on successful bookings, and general commitment to happy customers via the Petworks platform. The award recipients were selected from Petwork's national database of 5,500+ qualified pet professionals across 40 categories of pet care. 

Co-founder Kevin Kinyon commented on this year's winners:

"Our pet care professionals have dedicated their careers to serving the needs of pets and their parents, and we're forever inspired to help them grow their businesses on the Petworks platform. Offering quality care across all stages of a pet's life, we're in awe of the tireless work these pet pros do to keep our pets healthy and happy. Congrats to this year's winners!"

To see the complete list of award recipients, go to: https://www.petworks.com/articles/petworks-best-of-2022-awards/

About Petworks:

Petworks is the nationwide pet care platform revolutionizing the way pet parents find and hire pet care. With over 5,500 registered pet care professionals, Petworks guides pet parents through all stages of their pets' lives - enabling parents to connect and transact with well-trained specialists in every conceivable category of pet wellness, specialty care, and time of need services. 

Media Contact:

Kevin Kinyon
[email protected]
203-240-7209