Penn Credit Corporation’s Blog
The Rise of “Buy Now, Pay Later”: Convenience Today, Consequences Tomorrow
In recent years, “Buy Now, Pay Later” (BNPL) services have exploded in popularity. Platforms like Afterpay, Klarna, Affirm, and PayPal’s “Pay in 4” make it easier than ever for consumers to break purchases into smaller, interest-free payments. At first glance, this...
Financial Planning for Freelancers: Creating Stability in an Unpredictable Income Stream
Freelancing comes with many benefits- flexibility, independence, and creative freedom. But it also comes with one major challenge: unpredictable income. Without a steady paycheck, managing finances can feel like navigating shifting ground. However, with thoughtful...
How to Conduct a Personal Finance Audit: A Step-by-Step Guide to Regaining Control of Your Money
If your finances feel scattered or you are not sure where your money is going each month, it might be time for a personal finance audit. Just like businesses review their financial health regularly, individuals can benefit from taking a close look at their own money...
Financial Independence Isn’t Just About Retirement: Redefining What Freedom Looks Like
When most people hear the term financial independence, they immediately picture retirement. For decades, financial freedom was equated with leaving the workforce at age sixty-five and living off savings. But the modern meaning of financial independence has evolved....
How to Conduct a Personal Finance Audit: A Step-by-Step Guide to Taking Control of Your Money
If your finances feel out of control or you’re unsure where your money is really going, it might be time for a personal finance audit. This isn’t just about crunching numbers—it’s about gaining clarity, identifying areas for improvement, and setting yourself up for...
Financial Triggers: How Emotional Spending Derails Your Budget—and What to Do About It
We’ve all been there—adding items to an online cart after a rough day, swiping a credit card for a “treat” after a tough week, or justifying a big purchase as a reward. This is emotional spending at work. Driven by feelings rather than needs, it can quickly derail...
The Debt Denial Trap: Why Ignoring Your Balances Makes Things Worse (and How to Face Them Head-On)
If you've ever avoided checking your credit card statement or ignored a bill hoping it might somehow disappear, you're not alone. Many people fall into what's known as the debt denial trap—a coping mechanism where avoiding the reality of debt feels less stressful than...
How to Rebuild Your Finances After Paying Off Debt: A Guide to Sustainable Wealth Building
Paying off debt is a major financial milestone—and one that deserves to be celebrated. But once that final payment is made, many people find themselves asking, “What’s next?” The path to financial freedom doesn’t end when debt is eliminated. In fact, it’s just the...
The Hidden Costs of Credit Card Rewards: Are You Really Saving Money?
Credit card rewards programs promise enticing perks—cashback, travel points, and exclusive discounts—but are they truly helping you save money? While rewards can be beneficial when used strategically, they often come with hidden costs that may outweigh their benefits....
Emergency Funds vs. Paying Off Debt: Striking the Right Financial Balance
Managing personal finances often involves a balancing act between saving and paying off debt. One of the most common dilemmas is whether to prioritize building an emergency fund or aggressively paying down debt. While both are crucial for financial stability, the...