DEEP BENCH: Avoiding financial pitfalls

Published: Oct. 21, 2021 at 11:00 PM CDT
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WAUSAU, Wis. (WSAW) - According to a recent Gallup poll, about 18-million Americans, or 7% of U.S. adults, say they were recently unable to pay for at least one prescription medication for their household.

Medical debt is the largest source of debt. And then there’s the new trend of buy now, pay later.

Spending is on the rise and now with the holiday shopping season about here, this is the time for financial pitfalls.

Connie Nowak, special assets service manager for IncredibleBank, joined the Deep Bench on NewsChannel 7 at 4 to discuss some tips for managing your finances.

“If you are a savvy consumer that is going to make sure you’re putting that money away,” Nowak said about Buy Now Pay Later, “and you’re saving that, so when that Pay Later comes due that you have it all ready to pay so you’re not going to have to end up pay interest, it’s a perfect opportunity.”

She adds, “it’s so important no matter where you are in your financial situation, budgeting helps every single person know that we’re spending within our means.”

For more helpful tips, you can watch her interview with NewsChannel 7. And for additional resources, click here.

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