You are aware of it now that the COVID-19 outbreak has shattered our economy. In August 2020, near about 13.55 million Americans were unemployed as per the statista.com report says.
In this current situation, people from every corner of the earth are suffering from the effects of the COVID - 19 pandemic. People having illnesses or who have lost their jobs are facing the hardest hit among all.
Is it difficult for you to manage your multiple credit card bills? Are you forgetting the due dates of your multiple payments, and feel like having only one payment against all your credit cards? It will help you manage your payments… right?
We all are going through a very difficult situation. Many of us are not allowed to go outside our homes, and we are stressed about our physical, mental, and financial health.
Many people are losing jobs and are experiencing pay cuts.
Have you got a call from a debt collector? Don’t worry. There’s nothing to panic about. Know about the debt collection process and how you can repay your outstanding dues.
How does a scarcity mindset lead to debt?
Before answering this question, it is better to discuss what is meant by ‘scarcity mentality’ and how it is related to finance, if a relationship can be explained at all.
According to the market survey 2020 by the Council for Economic Education, there are only 21 states in our country where high school students are required to sign in a personal finance course.