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With More Rate Hikes Coming, Here’s the Best Way to Pay Off Your Credit Card Debt. 1 No ratings yet.

The cost of borrowing money is going up, so it’s time to get serious about paying down those unpaid credit card balances.

The average household with credit card debt has a combined balance totaling $16,748, according to the 2016 American Household Credit Card Debt Study by NerdWallet, up nearly a thousand dollars from 2015.
[Fed Hikes Key Interest Rate For Second Time in Three Months]
Fed Hikes Key Interest Rate For Second Time in Three Months 1:40

Last week’s decision by the Federal Reserve’s to boost short-term interest rates will be passed along to variable rate accounts — and that’s most credit cards — within the next one or two billing cycles. And if the Fed boosts rates two more times before the end of the year, as is expected, carrying a balance will cost even more.

“Now is the time for cardholders to put debt repayment into high gear, finding extra room in their budgets to pay off those balances as quickly as possible,” said Bruce McClary, vice president of communications at the National Foundation for Credit Counseling. “If you carry a balance from month to month, you’re going to pay more and more for what you purchased and that really adds up over time. And if you’re only making the minimum payments, you’re just spinning your wheels and it could take years, sometimes a decade or more, to pay off a large balance this way.”

For most American households, credit card debt is their highest-interest debt. The average credit card interest rate is currently 16 percent, according to

“If you want to go from being hurt by rising interest rates to benefiting from them, pay off this debt.”

“That means that by paying off those credit card balances, the average cardholder is making a risk-free return of 16 percent,” said Greg McBride, chief financial analyst at Bankrate. “If you want to go from somebody who’s being hurt by rising interest rates to somebody who can benefit from them, pay off this debt and then funnel that money into savings instead of pouring it into interest payments each month.”
You Need a Plan
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“Five of the best meditation apps: Which one is right for you?” 1 No ratings yet.

Between stressful deadlines, family responsibilities, and countless social media notifications, modern life can leave many of us feeling anxious, overwhelmed, and even unhappy. If this sounds like you, meditation may provide an answer – and with meditation apps, you can now carry your own personal mindfulness trainer in your pocket. But which app should you choose? We review our pick of the best meditation apps available.

A national survey from the American Psychological Association reports that overall stress levels have increased in recent years, and a considerable number of people in the United States think that they are not doing enough to manage their stress.

So what can we do to relax and lead healthier, more fulfilling lives? One answer may come from meditation – the ancient, holistic practice that aims to bring us into the present, soothe our worries, and improve our overall well-being.

Evidence suggests that meditation is good for our health; it lowers our blood pressure, alleviates several gastrointestinal disorders, and helps to relieve anxiety and insomnia.

Smartphone users can now install their own meditation trainer with a tap of the finger. With almost 1,000 apps to choose from, however, knowing which one is right for you can be challenging. To help narrow down the choice, we tried some out for ourselves.

All the apps we review here are available on both Android and iOS.
Headspace: Unlocking the universe of mindful meditation

Probably the most popular meditation app, Headspace was also ranked first in a comprehensive review of meditation apps regarding functionality and user satisfaction. We were therefore thrilled to give it a go and see what the hype is all about.

The app offers a 10-day free trial that takes you through the entire foundation level, called Take 10. Throughout, you are guided by Andy’s reassuring voice – that is, Andy Puddicombe, the former Buddhist monk, inspirational TED speaker, and founder of the app.

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