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With interest rates rising to levels not seen in years, now is the time to ensure you have a firm grasp on your debts and manage your credit and borrowing responsibly. A recent WSFS Bank Money Trends study found that rising costs and inflation topped the list of why regional consumers are spending more (72%),…
With interest rates continuing to rise, the need to borrow and use credit responsibly is more important than ever to avoid negatively impacting your financial stability. Borrowing plays an important role in your financial journey, and when used responsibly, credit can help you achieve many of your financial goals. Here are tips to help you build your…
Whether you’re new to banking or are just looking for a refresher on banking basics to enhance your money management, we’re here to help. Here’s a quick guide to checking and savings accounts as well as the tools you can use to access your money safely and securely like debit and credit cards, online and…
Many people know the importance of establishing and building credit and using it wisely, so they have good credit. While there are many tips and resources to learn how to manage credit, reduce debt and increase their scores, the types of credit available to them and which are best suited to their needs can sometimes be overlooked….
With COVID-19 vaccinations underway, restrictions easing and the school year wrapping up, many people are ready to get out of the house and spend their summers traveling again. Whether visiting family and friends, getting back to annual vacations or choosing new destinations to explore, travelers are charting their plans. However, with some restrictions still in place…
Whether you’ve built a solid credit score already or have one that still needs work, it’s important to know what ways your credit score affects you. A recent WSFS Bank study of 2,005 Americans between ages 18-40 found that 36% of respondents felt building good credit was a financial goal out of reach for them and…
Credit and loans can be helpful tools on your financial journey, but ones that require you to proceed with caution. A study from WSFS Bank of 2,005 Americans between ages 18-40 found that 78% of respondents said they weren’t good at maintaining good credit. U.S. consumer debt reached a record of $14.88 trillion in 2020, according to…
There’s lots of advice out there on how to use credit cards, and much of it is conflicting. To make matters more confusing, the methods credit bureaus use to calculate your credit score are not exactly transparent. However, there some basic tips to keep in mind that will help keep you use credit to your…
These days, budgeting for the holidays is not only about saving for shopping – it’s also about saving while you shop. With the plethora of options available online, in stores and through how you pay, it’s easy to stack savings while stuffing your family’s stockings. The tried and true tips for holiday budgeting still work, such…
In this new era of social distancing in public, people are turning to using their credit cards, mobile apps and other forms of contactless payments while shopping. Whether through the convenience of online shopping or delivery or curbside pickup at local small businesses, the safety, benefits and rewards of using low-touch forms of payment have increased…
Your credit score can play a large role in achieving your financial goals. A recent WSFS Bank study of 2,005 Americans between ages 18-40 found 65% of respondents agreed they understood what types of behavior impact their credit scores. But, understanding what exactly your credit score is and what impacts it can have gets confusing at…
If you are in the market for a credit card, but feel you need to know more about their benefits and how to choose one that best fits your needs, you are not alone. Credit card selection and best practices for using them wisely can initially be intimidating and difficult to grasp due to the multitude…
The weather is heating up, which for many means the start of vacation season. A recent WSFS survey found that 44% of Greater Philadelphia and Delaware region respondents are not confident they can keep pace with inflation’s impact on goods and services, which could affect many consumers’ ability to book time for rest and relaxation because…
