Wednesday, July 29, 2020

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Illinois pawn shops report sales boom despite pandemic

In this Thursday, June. 18, 2020, photo, West Quincy Pawn Shop owner Lionel Hammond poses for a photo in the gun section of the store which Hammond pointed out has a noticeably low stock in West Quincy, Mo. At West Quincy Pawn Shop, Hammond said sales have been off the charts and that he can't keep merchandise on the shelves as buyers are using their governmental stimulus money to buy firearms, jewelry, televisions and other electronics. (Jake Shane/Quincy Herald-Whig via AP)

QUINCY, Ill. — Providers of fast money, pawn shops throughout the region have taken on an enhanced profile in an economy turned upside down by the coronavirus.

https://jg-tc.com/news/state-and-regional/illinois-pawn-shops-report-sales-boom-despite-pandemic/article_c7c2a85a-5353-5256-b42e-01bce7489fbf.html

There's no time like now for gaining control of your finances. Read this guide and learn personal finance tips. You should not have to waste money on expensive finance classes or training to help you better your skills at managing money. Every single knowledge you learn will surely help.

Creating a budget for one and even their family will assure that they have control over their personal finances. A budget will keep one from overspending or taking a loan that will be outside their ability to repay. To maintain ones person finances responsibly they need to take action to do so.

When you need to borrow money, ensure your personal finance stays safe by never going over 30% of your income. When people borrow more than 30% of their income it can drastically reduce your credit score. So as long as you stay within these safe parameters you can enjoy having good credit.

If you can afford it, try making an extra payment on your mortgage every month. The extra payment will apply directly to the principal of your loan. Every extra payment you make will shorten the life of your loan a little. That means you can pay off your loan faster, saving potentially thousands of dollars in interest payments.

Instead of using credit cards that are almost maxed out, spread it between other cards. You will probably have lower interest payments this way. This can help you build your score and not hurt it if you manage your credit lines the right way.

It has to be said that taking care of personal finances rarely becomes fun. It can, however, get extremely satisfying. When better personal finance skills pay off directly in terms of money saved, the time invested in learning the subject feels well-spent. Personal finance education can even become an unending cycle. Learning a little helps you save a little; what will happen when you learn more?

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