5 Financial Benefits of Moving Out Of Your Comfort Zone

comfort zone

Do you ever feel like you’re stuck in a rut? That you’re not getting anywhere because you’re too comfortable with the way things are? If so, it might be time to move out of your comfort zone. When you do this, there are several financial benefits that you can enjoy. Let’s look at 5 of these. If you’re ready to take your life or business to the next level, keep reading!

1. You’ll Learn How To Manage Your Money Better

When you’re living in your comfort zone, it’s easy to become complacent with your finances. You might not feel the need to save because you think you have enough or you may not be as mindful of your spending because it doesn’t seem like a big deal.

But when you move out of your comfort zone, everything changes. You’ll suddenly have to budget your money carefully and make sure that you’re not overspending. This can be a great way to learn how to better manage your finances overall.

Plus, when you’re living outside of your comfort zone, you’ll often have to face financial challenges that you wouldn’t otherwise encounter. By learning how to deal with these challenges effectively, you’ll be better equipped to manage your money in the long run.

2. You’ll Be More Disciplined With Your Spending

Another financial benefit of moving out of your comfort zone is that you’ll become more disciplined with your spending. This is because you’ll have to be mindful of every penny you’re spending and make sure that it’s going towards something truly worth it.

It’s easy to fall into the trap of spending money on things that don’t matter. But when you’re outside of your comfort zone, you’ll be more likely to think twice before making a purchase. This can help you save a lot of money in the long run.

So, if you’re looking to become more financially disciplined, moving out of your comfort zone is a great place to start.

3. You’ll Make New Friends Who Can Help You Grow Your Network

This may be a challenge for introverts. If you’re looking to grow your professional network and earn more, moving out of your comfort zone is a great way to do it. Once you get comfortable socializing and meeting new people, your professional network will also grow.

Get on LinkedIn and add new professionals to your network. Check out Meetups and share some of your personal and professional interests. Meet them in person.

These new found friends can introduce you to new opportunities that you wouldn’t have otherwise had access to. They can even help you save money. For example, they may know of discounts or deals that you wouldn’t have otherwise been aware of. So, not only will you be growing your network, but you’ll also be saving money in the process.

4. You’ll Develop New Skills and Talents

You may be comfortable with your current skill set. However, the more you learn, the more valuable you are to your company or your business. Take control and push yourself to develop new skills and talents. This can help you become more well-rounded and successful in the long run.

You can take some courses on Udemy or Coursera to get you started. There are tons of YouTube videos to teach you everything from A to Z. Stretch your horizons and watch what happens.

5. You’ll Become More Confident in Yourself and Your Abilities

Moving out of your comfort zone can also help you become more confident in yourself and your abilities. This is because you’ll be pushing yourself to do things that you may have never thought possible. And as you start to accomplish these goals, your confidence will grow.

This newfound confidence can help you in all areas of your life, both professionally and personally. So, if you’re looking to boost your confidence, moving out of your comfort zone is a great way to do it.  For example, you could learn how to sell real estate, improve your investing performance or better understand bond markets.

If you’re looking to improve your finances, this is something you should consider doing. It may be scary at first, but it’s worth it in the end. So, what are you waiting for? Get out there and start getting uncomfortable!

Do you know of any other financial benefits of moving out of your comfort zone? If so, let us know in the comments below.

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The Housing Market Gridlock

The Housing Market Gridlock

Rumors around the web say that the housing market has bottomed out. However, most analysts will tell you this is not exactly true. While the market isn’t getting any worse, it isn’t getting any better either. Thanks to several factors including high interest rates and low inventory, it is creating a housing market gridlock.

Trouble for First-Time Home Buyers

When it comes to real estate news, everyone talks about how bad the housing market has been. But, you never really understand the full extent of the issue until you see it firsthand.

For the last few months, I have been watching my cousin as her family looks to buy their first home. In addition to the several open houses we have gone to together, she has also set up dozens of viewings and submitted multiple offers. Yet time and again, they end up losing the bidding war. It seems there is always someone else who is willing to offer more than the asking price or pay in cash.

Unfortunately, this is the case for most people who are currently in the market. The housing market gridlock is making it nearly impossible for first-time home buyers to find something within their budget.

What Is Causing the Housing Market Gridlock?

In some respects, it has never been harder to find an affordable home in the US. Although there are complex economic factors that affect the market, it comes down to the simple laws of supply and demand. And right now, supply can’t keep up with market demands.

If you look at the figures, there are less than half as many houses on the market as there were five years ago. And with more people looking for homes, there is even less inventory available. More new homes are being built. However, builders can’t construct them fast enough to have a significant impact on the housing shortage.

On the other side, current homeowners feel trapped in golden handcuffs. These are the people who bought houses when interest rates were low. Now, they are hesitant to sell since interest rates are near 7% for a 30-year fixed mortgage. Therefore, more people are locked in by the low rates and are choosing to stay in their homes, even if they have outgrown them.

How Can You Improve Your Chances?

Although conditions aren’t ideal for home buyers, there are things you can do to improve your chances of getting the right home for you.

  • Know your budget and what loan options are available to you.
  • Get preapproved to show sellers that you are serious.
  • Increase your savings plan so you have a larger down payment.
  • Find a real estate agent you trust.
  • Prioritize your needs vs. wants.

But above all else, you have to be patient. Finding the right home takes time. And with current conditions, it may take longer than usual. In the end, it’s worth waiting for the right house rather than settling for the wrong one that will leave you with regrets.

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How Long To Become A Millionaire Calculator


function calculateYears() {
const initialBalance = parseFloat(document.getElementById(“initialBalance”).value);
const monthlyContributions = parseFloat(document.getElementById(“monthlyContributions”).value);
const annualInterestRate = parseFloat(document.getElementById(“annualInterestRate”).value);

const targetBalance = 1000000; // The target balance to become a millionaire
let years = 0;

while (initialBalance < targetBalance) {
// Calculate interest earned for the current year
const annualInterestEarned = (initialBalance + monthlyContributions * 12) * (annualInterestRate / 100);

// Add monthly contributions and interest earned
initialBalance += monthlyContributions * 12 + annualInterestEarned;

// Increment the number of years

const resultElement = document.getElementById(“result”);
resultElement.innerHTML = `It will take you approximately ${years} years to become a millionaire.`;


This code takes your initial balance, monthly contributions, and annual interest rate as input and calculates how many years it will take for you to reach a million-dollar balance. You can customize the initial values based on your financial situation.

Please note that this is a simplified calculator and doesn’t account for various real-world factors such as taxes, inflation, or variable interest rates. For a more precise estimate, it’s recommended to consult with a financial advisor or use a comprehensive financial planning tool. A good approach would be to run multiple scenarios.

Millionaire Terms & Definitions

  • Savings –  This is the amount of money you have saved and currently have onhand to invest.  This could be the balance in your savings account or your retirement accounts.  The main idea is it is the starting point for the calculations
  • Monthly Addition – This is the average amount of the deposit you’ll contribute to growing your wealth.
  • Annual Interest Rate – This is the rate of return you expect to get on your money.
  • Annual Inflation Rate – This the rate of increase of prices on an annual basis.
  • Net Present Value – This is how much your money will actually be worth after you factor in inflation.

Also, this “how long to become a millionaire” calculator is really only for people who are perusing a saving and investing strategy to becoming a millionaire. There are many other ways to get past the 7 figure mark, including suing someone and taking their fortune, marrying well, becoming a CEO and growing a company well, or you could find a rising superstar (such as a politician or sports star) and rise their coattails.

How Long To Become A Millionaire Calculator – Real World Behavior of Millionaires

If you are using the “how long to become a millionaire” calculator and you’re following a saving and investing strategy, here are some scientifically identified factors that should help you build your wealth.

1. Wealthy people are self-aware of their habits. They think objectively about their own behavior and focus on altering and optimizing their own habits. For example, if some of their habits aren’t serving them, they’ll try something different that does.
2. Millionaires tent to set goals. Not only do they set goals, they often set daily, monthly, annual and long-term goals. These goals are almost always tied to a broader vision or dream.
3. The wealthy almost always read. The read consistently on technical topics that help them build skills or skill related knowledge.
4. Wealthy people are healthier than the non-wealthy. This is because they exercise consistently – usually some form of aerobic exercise for at least 30 minutes a day. This allows them to manage stress, work longer hours and stimulates their brain health.
5. The rich are purposeful about managing their relationships. This is because strong relationships are how the wealthy access knowledge, opportunities and capital. They usually maintain relationships by picking up the phone or by firing up email. The rich also intentionally remove toxic relationships from their lives.
6. The wealthy generally live in moderation. They usually avoid overeating and play in moderation as well.
7. Rich people are organized – they create daily to-do lists which are related to their goals and dreams.
8. Millionaires are generally positive thinkers. This means they are upbeat and focused on growth, achievement and self improvement.
9. The wealthy consistently save about 10 to 20% of their income and live off the remaining 80% to 90%. They are also smart about investing their savings, which can grow their wealth.
10. Millionaires control their thoughts and emotions. This helps them manage their relationships. People prefer to do business with people who are emotionally stable.

The main idea here is that calculators are just mathematical tools that allow you to estimate the duration of time any particular course of action will require to achieve millionaire status. For example, its useful if you decided you wanted to cut back on junk food and instead invest the $20 you saved on a monthly basis. The main thing is that the underlying behavior and the choice surrounding it are what really count.

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Greening Your Kitchen: 25+ Essential Reusable Items for Sustainability

Greening Your Kitchen: 25+ Reusable Items for Sustainability

Today, people are more aware of our impact and the lasting effects they have on the environment. Many want to do their part in conserving energy and minimizing waste through the use of sustainable materials and energy-efficient equipment. Not only will it further reduce our carbon footprint, but it can also help you attain a truly healthy kitchen. So if you are looking for a few ideas for greening your kitchen, here are some of the best practices, products, and reusable items to help you.

5 Ways of Greening Your Kitchen

1. Make Changes in Your Food Preparation.

When my family wanted to make our home more eco-friendly, we started with our kitchen. The first step was to change our eating habits. We ordered out less, stopped buying highly processed foods, and switched to a diet with more produce and locally sourced ingredients.

Not only did this lead to a healthier lifestyle, but also a greener kitchen. The next step was to reduce the amount of energy we used to prepare our food. We minimized our oven usage and found these products that have completely changed our meal prep, saving even more time and money.

  • Instapot
  • Pressure Cooker
  • Crock Pot
  • Air Fryer
  • Chest Freezer

2. Reduce Food Waste

When you waste less food, you create less garbage. What’s more, you also spend less on groceries. In addition to adjusting your habits, these products and practices can also help you reduce your household’s food waste.

  • Utilize reusable containers.
  • Choose ziplock bags that can be washed and reused over plastic wrap.
  • Repurpose waste by composting.

3. Find Sustainable Supplies

One of the most significant changes we have made is switching from plastic products to reusable items. As mentioned above, these products can reduce waste while also scaling back plastic usage to eliminate many toxic chemicals from your routine.

Here are a few of the most popular sustainable kitchen supplies:

  • reusable water bottles
  • sustainable dinnerware and cookware sets
  • bamboo plates, bowls, and utensils
  • eco-friendly kitchen towels
  • cloth grocery bags
  • reusable, stainless steel coffee filters
  • silicone “food huggers” for fresh produce
  • metal and glass containers with air-tight lids
  • beeswax wrap
  • biodegradable sponges and paper products
  • compostable trash bags

4. Use Natural Cleaning Products

Another way you can make your kitchen greener is with natural cleaning products. Replacing harsh chemical cleaners with natural ones like white vinegar, ammonia, and citric acid is much healthier and safer for your family. Besides these common household ingredients, many people also highly recommend these sustainable reusable items for your kitchen.

  • refillable spray bottles
  • bamboo or coconut sponges
  • reusable disinfectant wipes
  • natural dish soaps

5. Buy Energy-Efficient Appliances

This last tip requires a much greater financial investment than the other reusable items on this list. But if it’s time to replace your kitchen appliances, choosing energy-efficient models will decrease your energy consumption, reduce harmful emissions, and lower your water usage.

But if you aren’t certain that this is the right choice for you, consider that:

  • Energy-efficient refrigerators consume 9% less energy than ones meeting minimum inspection standards.
  • Induction stovetops and ovens use 90% less electricity.
  • Energy-efficient dishwashers use 50% less water with each load of dishes.
  • Your purchase may also qualify for tax rebates to save you even more money.

For those who do decide to upgrade, you can also find ways eco-conscious ways of disposing of them. In the spirit of sustainability, you can get rid of your old appliances by either selling, donating, or taking them to a recycling center.

The Goal of Reusable Items

Although a single person will not have a huge impact on global emissions, change has to start somewhere. If we all do our part to live healthier, more sustainable lives, it also forces us to become more mindful of how our actions impact everyone and everything around us. By purchasing reusable items and making extra effort to minimize your negative impact, we can all affect change within our circles of influence.

How are you greening your kitchen? Share your ideas in the comments below!

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How Long is a Dollar Bill Around? Here’s The Lifespan of a One Dollar Bill

How long do those filthy, overly-used, disease-ridden, cocaine-encrusted (you know I’m joking, right?) one dollar bills last? The lifespan of a one dollar bill is a bit longer than you might expect.

Before you read the weekly infographic below take a look at this Federal Reserve website’s graph of the lifespan of U.S. paper money.

How Long is a Dollar Bill Around?

Do you want to know what the absolutely absurd thing is? It states that dollar bills last on average 5.9 years before they are destroyed. I was surprised to read that $5, $10, and $50 bills have a shorter life expectancy. Even stranger: the company that puts the infographic below together sites the Federal Reserve as a source (click on The Lifespan of a One Dollar Bill Infographic yourself to see). Further, you’ll see that they have very different numbers for how long dollar bills last.

how long is a dollar bill

Do you know what’s even crazier?? That $2 bills are still in circulation! Apparently it’s an absolute myth that $2 dollar bills are no longer minted–but they are. Just in very low quantities. Furthering the rarity of seeing a two dollar bill is that people often hold onto them thinking they are something of value. But the Fed says that they are essentially worthless–well at least not worth more than two dollars.

As I cited earlier, “the lifespan of a dollar bill” info below is suspect. It makes me question the rest of the infographic, and really any other infographic I read. Even still, the “facts” below on how long do dollar bills last are still pretty interesting, if they hold to be true.

Take a look! It tells the life and death-and even spared execution-of U.S. paper currency.


Click here and check out our full list of Financial Infographics!

For more on this, also check out SavingAdvice.com’s listing of 17 bills in your wallet worth more than face value.

And for even more, Might Bargain Hunter has a great article on which the value of dollar bills with trinary serial numbers.  You may have some of these, they’re valuable.

How to Make More Money: Side Hustle
Ways To Make More Money: Part Two
How to Become Wealthy

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3 Free Activities to Save Your Entertainment Budget

3 Free Activities to Save Your Entertainment Budget

Over the last few years, the increased prices and cost of living have meant less room in the budget. While it also affected how much we could save each month, reduced hours and unexpected expenses forced us to cut back even further. However, even the best savers need to blow off steam and have fun occasionally. But, you don’t need to sacrifice your leisure time with these free activities.

3 Free Activities to Save Your Entertainment Budget

1. Check out your local library.

Your local library is a cultural and community hub. They help sponsor a variety of events and free activities that are appropriate for all ages. In addition to the children’s story hours and family-friendly activities, many also display artwork and put on concerts for local artists.

However, I was ecstatic to learn that the library also offers free and discounted tickets to local attractions like museums, zoos, and other performances. It’s just one more reason why you should check out your local library.

2. Become a tourist in your city.

Another fun way to save money during your vacations is to become a tourist in your city. You can live somewhere for years, even your whole life, and never know the city you live in. Therefore, we have taken more time to appreciate the sights and sounds in our backyard.

We have found several free walking tours of historic districts and hit the local parks for urban exploration. And when we want to get back to nature, apps like AllTrails will help you find the best trails around. It’s also a lot of fun to attend the free art festivals, concerts, outdoor movies, and community-sponsored events throughout the summer. But the best part is that all the activities don’t cost a thing.

3. Take up a new sport.

Contrary to what some might think, you don’t need to spend a lot of money if you want to take up a new sport or hobby. Instead of purchasing expensive new equipment, I prefer to borrow until I know for certain that it is something I will stick with. Even then, I hunt local thrift shops for used equipment. You can also find high-quality equipment at great prices through online marketplaces.

But the most important thing that people pay for is the space. Luckily, there are many places where you can access open spaces, courts, and other sports facilities for free. It’s a great way to spend quality time with family and friends. But if you are looking for something more competitive, you can also check local message boards and forums if you are interested in joining an adult league or team.

Some Free Advice

It can be hard to adjust to new financial limits. Sometimes, I feel hopeless and defeated when I see how tight things get. But when this happens, finding fun ways to spend time together is even more important. And with some creative thinking, many free activities will help you enjoy life a little more without breaking the bank.

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What do you Need to Secure a Peddler’s License?

What do you need to secure a peddler’s license?

Running a mobile business can be lucrative.

What do you need to secure a peddler’s license? What is a peddler’s license? Here is a brief overview on the subject if you are interested in obtaining one.

What is a Peddler’s License?

A peddler is another name for a traveling vendor. You have probably seen stands selling everything from merchandise to food outside of stadiums, at fairs, and near any major event or gathering.

It is a low-cost way to start and operate a mobile business. But, like any business, you will need proper licenses and permits to legally operate.

Obtaining a Peddler’s License

In most municipalities a peddler’s license is the exact same thing as a business license. The main difference is that a business license is tied to a specific location or website while a peddler’s license covers businesses that move and don’t have a permanent location.

Applying for a Peddler’s License

You will have to check local laws and regulations, and possibly multiple municipalities should your business travel farther than your local area. The first step is to check if you need to be bonded. Many cities require that business owners obtain a Surety Bond.

A Surety Bond is a legally binding contract between a government entity, a business owner, and a third party. It is basically a way to make business owners comply with regulations and to fulfilling work obligations. It also provides recourse should a contract be broken.

Next, you will need some personal documents. Typically, you will need proof of bond, a valid ID, and a criminal record report. There could be additional licenses or requirements depending on what you will be selling. Preparing food for instance may require compliance with health code standards.

As always, check the local and state governments where you plan to do business. Every area could be different and require different licenses or certifications.

In Closing

What do you need to secure a peddler’s license? The process isn’t complicated, but you will need to be bonded and have some basic forms of identification. Selling goods and services from a mobile platform can allow you to chase customers wherever they may be. This isn’t for everyone, but it can be lucrative if done right.

Read Also:

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Check out our forum at:

Forums – Saving Advice Forums

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3 Reasons SpaceX Could Be Your Next Investment

3 Reasons Why You Will Want to Invest in SpaceX

SpaceX was founded with the mission to reduce the cost of space transportation and expand human colonization. Although it has yet to achieve this goal, it has become one of the most valuable companies in the world. So if you are looking to invest in SpaceX, here are 3 reasons that make it an attractive investment.

3 Reasons People Want to Invest

As of now, SpaceX is not a publicly traded company. Therefore, your average investor can’t buy shares through their brokerage account. However, that hasn’t stopped many investors from trying to invest in SpaceX. And when you look at the numbers, you can understand why.

1. It’s a major industry player.

SpaceX is a pioneer in aerospace technology and has become the second most valuable private company in the world. And with an eye towards the future, this looks like it will bring huge returns for its investors. Its valuation has drastically increased in recent years due to recent funding for two new projects, Starlink and Starship, that could revolution telecommunications and aerospace transportation.

But, its reusable launch architecture may prove to be one of its most valuable accomplishments. With a wide range of use cases for communications, transportation, scientific observation, and other space-related ventures, it has the potential to generate enormous profits.

2. Musk has demonstrated his skill in raising venture capital.

Sadly, the federal government has severely limited funding for space exploration over the last few decades. So, the industry turned to the private sector and venture capitalists for backing. Unfortunately, many projects have failed because they couldn’t raise the necessary funds.

But in his role as founder and CEO, Elon Musk has demonstrated his skill to obtain funding. In Q1 2021, he secured $850 million with a reported $6 billion more in offers from other investors. This is double the amount of its closest competitor. With his adeptness to raise capital, SpaceX will have the money it needs to continue testing the limits of science and space travel.

3. There is huge potential for long-term growth.

With all the recent attention, it’s hard to ignore the headlines. But putting all personal opinions about him aside, Elon Musk commands a small fortune between his two largest companies: Tesla and SpaceX. Their current valuations are $858 billion and $100.3 billion respectively.

However, a survey from Morgan Stanley reveals that many industry experts and institutional investors believe SpaceX will become more valuable than Tesla. Nearly 63% of respondents said they think SpaceX is a “more attractive investment” and “has the potential to be a more valuable company over the long term.”

While it’s natural that the company’s stakeholders feel this way, its performance in the stock market over the last few years strongly suggests that they may be right.

How Can You Invest in SpaceX?

Direct Investments

Unfortunately, SpaceX is still a privately held company, and it hasn’t announced plans to go public. Although it is possible to buy private shares, they come with a hefty price tag. And, they are only available to a select group of investors.

First and foremost, you must be accredited to be eligible which means:

  • You must have a net worth of over $1 million (not including your residence).
  • Your income is more than $200,000 for individuals/$300,000 with spousal income.
  • You have a valid securities license.

If you meet these criteria, your best bet for investing is to locate shares from current investors that are for sale. Many use sites like EquityZen which connects investors and shareholders.

Indirect Investments

However, there are also indirect ways to invest in SpaceX.

  • You could look for proxies such as mutual funds and ETFs that own shares.
    • ARK Space Exploration & Innovation ETF (ARKX)
    • Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN)
    • iShares U.S. Aerospace & Defense ETF (ITA)
    • Procure Space ETF (UFO)
    • SPDR S&P Kensho Final Frontiers ETF (ROKT)
    • SPDR S&P Aerospace & Defense ETF (XAR)
  • Another option is to focus on publically traded companies within the same sector that work with SpaceX.
    • Aerojet Rocketdyne Holdings, Inc. (NYSE: AJRD)
    • AST SpaceMobile, Inc. (NASDAQ: ASTS)
    • Astronics Corporation (NASDAQ: ATRO)
    • The Boeing Company (NYSE: BA)
    • HEICO Corporation (NYSE: HEI)
    • Howmet Aerospace Inc. (NYSE: HWM)
    • Lockheed Martin Corporation (NYSE: LMT)
    • Maxar Technologies Inc. (NYSE: MAXR)
    • Northrop Grumman Corporation (NYSE: NOC)
    • Raytheon Technologies Corporation (NYSE: RTX)
    • Virgin Galactic Holdings, Inc. (NYSE: SPCE)
  • You can also invest in synergistic companies and suppliers.
    • Garmin, Ltd. (GARM)
    • Iridium Communications (IRDM)
  • Lastly, you could look at other companies that hold investments in SpaceX.
    • Bank of America (BAC)
    • Fidelity (FNF)

Many people want to invest in SpaceX because it is an exciting opportunity and a potentially lucrative investment. Although purchasing private shares comes with many restrictions, there are other ways you can get in on the action. But hopefully, in time, it will become more accessible to average investors.

We want to hear from you! Share your thoughts on SpaceX in the comments below.

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How Gen Z Is Impacting Credit Usage

How Gen Z Is Impacting Credit Usage

As a Millennial, I’ve heard my fair share of criticism and disapproving remarks on our financial outlook from members of older generations. But, it’s a very strange feeling when you start hearing similar things from people within your own age group. After taking a hard look at our current economy, here are some real facts about how Gen Z is impacting national debt and credit usage.

What Are the National Statistics on Credit Usage?

Across the board, the average credit card balance and credit limit of Americans have been steadily increasing in recent years. This can’t be attributed to a single factor and varies greatly from person to person and quarter to quarter. However, credit usage is an important indicator of financial health on both an individual and national level.

Right now, Americans are carrying more debt and have higher credit usage than usual. Current statistics show that our credit card debt skyrocketed at the end of 2022. Although the total debt was $910 billion at the end of Q3 2022, it reached $986 billion by the end of Q4. This breaks down to an average credit card balance of $5,910 per person, which is an increase of 13.2% from the previous year.

Many economists believe this spike is due to inflation and interest rate increases implemented by the Federal Reserve. But, credit limits have also increased across all age demographics. Members of Gen X saw an average increase of 6.8%, Millenials received an 11.4% increase, and Gen Z experienced the greatest increase of 14.5%. Having access to a larger line of credit can often equate to greater credit usage.

And, this is further supported by the fact that more people are also applying for new credit cards. Application rates have steadily increased over the last few years, reaching the highest rate yet with a 27.1% increase in October 2022. Conversely, rejection rates decreased by 2.4%. These numbers suggest that more young Americans are using credit cards for their expenses.

How Does Gen Z Fit Into this Picture?

Whenever a new generation enters adulthood, it changes many financial statistics and national demographics. And, it’s fairly common for older members to be critical of this change.

For the purposes of this article, we’re looking at Gen Z which refers to people born between 1997 and 2012. As this group becomes legal adults and active participants in our economy, they will have a wide-reaching economic impact. However, we can learn a lot by looking at statistics from the last 12 months.

At the end of Q3 2022, this group had an average credit limit of $11,290 and a credit utilization rate of 25%. This rate was actually 3% lower than the national average. And, they also carried significantly less debt with an average amount of $2,854. However, Gen Zers who live in New York, California, and Texas have higher average balances than other states.

When looking at the average credit score, it ranks within the “good” range. In 2020, their average credit score was 674 and has since increased to 679. But according to data from Experian, Gen Z’s average credit score still remains well below the national average credit score of 714. While this may be a sign of poor financial management, it is more likely a result of this group having less credit history, fewer debts than other age groups, or not even having a credit card.

Learning How Credit Usage Impacts Your Credit Score

From this context, it doesn’t seem like Gen Z credit usage will drastically change national averages. But, there are some statistics that give cause for concern.

With more people applying for credit cards, there will be more credit card debt. This could be extremely problematic for young adults who don’t understand how credit works. If you don’t know how credit usage affects your credit score, you may be putting your financial future at risk.

If you are on the cusp of adulthood or have kids who are, take some time to understand why lenders look at credit utilization rates and how it impacts your creditworthiness. Part of becoming an adult is learning how to manage your finances. Credit cards are a powerful tool that can help you build a strong credit history. But like any tool, it requires knowledge and responsibility to use it effectively.

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5 Most Expensive 80s Toys You Might Have in Your Attic

The 5 Most Expensive 80s Toys You Might Have in Your Attic

With more people looking for alternative investments, the collectibles market has exploded in recent years. And many of your favorite childhood toys have now become expensive and highly sought-after items. If you had any of these 80s toys, you may be pleasantly surprised to find out how much they are worth now.

5 Most Expensive 80s Toys You Might Have in Your Attic

1. American Girl Dolls

Since they were first introduced in the 1980s, American Girl dolls were wildly popular and gained an even larger fanbase through the 90s.  These dolls represent different eras of American history and include a variety of outfits and storybooks relevant to their period.

Today, you can find several Kirsten, Molly, and Samanthas that sell for well over $1,000 on eBay. And if it is still in the original packaging, it could sell for much more. Not too long ago, an original Samantha Parkington doll sold for $4,200, making it one of the most expensive 80s toys today.

2. Cabbage Patch Kids

Cabbage Patch Kids are another fad that has become a valuable collectible. These soft, 16-inch dolls may have looked strange to adults, but kids went crazy for them. While they only sold for $25, some are worth well over $1,000 today.

However, if you have any that date back to the early or mid-1980s, it could be worth much more, especially if it still has the original box, birth certificate, and passport. Some of the rarest Cabbage Patch Kids have sold for well over $5,000.

3. He-Man Action Figures

With He-Man as its focus, the Masters of the Universe franchise started releasing toys in 1982. It went on to inspire the creation of children’s books comic books, a role-playing game, video games, a cartoon, and a live-action movie. It has also regained popularity with the re-release of the cartoon series on streaming services.

If you look for any of these toys today, many of the figurines sell for hundreds of dollars. But, the most valuable piece is the Castle Grayskull set. An unopened example in mint condition can bring in up to $4,000 from the right buyer.

4. Nintendo Entertainment System

When it was first released, the Nintendo Entertainment System was the holy grail of kids’ toys. It sold for about $200 when it was first released, but is now one of the most prized collectible toys.

An original NES can sell for well over $1,000 on eBay. But a factory-sealed, mint-condition system sold for over $36,000 in 2020 after an intense bidding war. Even systems that aren’t in pristine condition will still bring a good price at auction.

5. Star Wars Toys

Beyond a doubt, Star Wars is one of the most iconic and successful franchises of all time. It has generated countless items from decor and clothing to a variety of toys and games. Although they started selling items when the movies were first released in the 1970s, the toys reached the height of popularity in the 1980s.

Like other franchises’ figurines, they can sell for hundreds or thousands of dollars. However, the rarest can bring in a small fortune. The Yellow box that contained six, 3.75-inch figurines sold for over $28,000, and a Bespin Alliance three-pack series sold for well over $24,000. And one of the rarest Star Wars toys, the Glasslite Vlix from Brazil, recently sold for over $45,000.

But, you should keep in mind that this is only a short list of some of the most valuable 80s toys. And the condition of the item is a huge factor in its value. So if you think you have something special, it’s best to find a vintage toy expert in your area. They will be better able to tell you the true value of your childhood toy based on condition, rarity, and demand.

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