The world has changed greatly from how it was five decades ago. The changes have made life easier. However, the comfort comes at a cost. The evolution has created the following modern financial problems.
1. Credit card debt
General-purpose credit cards have eased monetary transaction. Unfortunately, they have also made some individuals to land in debts. If your Visa card has made you a serial borrower, stop borrowing and start paying your debts one after another. The earlier you do it the less interest you will pay.
2. Identity theft
This was evident in the old days but current technological advancements in the financial sector has made it easy for smart fraudsters to get your private information and con you. It is possible for one to get your credit card as well as financial information and spend all your money. You should thus check your credit report on a regular basis.
3. High health care cost
The government has done a lot to make sure that you access quality health care. However, besides Linda Mama initiative, you will have to pay excessively to get medication for several diseases especially the modern killers like cancer. The solution to this is having a medical insurance.