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How to Build Credit: Why You Need It and How to Get It

How to Build Credit: Why You Need It and How to Get It

Establishing and building credit in today’s world can be an essential component of setting yourself up for financial success. A good credit score can make it easier to rent an apartment, get a lower interest rate on a car or house loan, be approved for a credit card or loan, and, in some cases, even […]

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Student Loan Forgiveness Is on Hold. Here’s What to Expect.

Since the online form for one-time federal student loan forgiveness opened in mid-October, applications have been pouring in. The U.S. Department of Education estimates more than 26 million borrowers, or about half of those eligible, have applied for $10,000 to $20,000 in federal student debt cancellation. But recently federal judges have found the plan unlawful

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Principal-only payment vs. principal and interest: Which is better?

Principal-only payment vs. principal and interest: Which is better?

   Knowing the difference between a principal-only payment vs. principal and interest payments can help you repay your debt faster and save.Knowing the difference between a principal-only payment vs. principal and interest payments can help you repay your debt faster and save. The post Principal-only payment vs. principal and interest: Which is better? appeared first

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What to Do If Your Spouse is Bad With Money

What to Do If Your Spouse is Bad With Money

Some of the links in this post are from our sponsors. We provide you with accurate, reliable information. Learn more about how we make money and select our advertising partners. If you’re unhappy with your partner’s spending habits, you’re not alone. One in five people in a relationship think their partner is bad with money,

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What Happens When You Don’t Pay Your Medical Bills?

What Happens When You Don’t Pay Your Medical Bills?

If you’re struggling with unpaid medical bills, you’re not alone. Americans are estimated to owe as much as $140 billion in unpaid medical debt, according to a 2021 study from the Stanford Institute for Economic Policy Research. Mounting medical bills can wreck your financial life. They can damage your credit score, make it difficult to

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Good Debt Vs. Bad Debt: What’s the Difference?

Good Debt Vs. Bad Debt: What’s the Difference?

Debt is a double-edged sword. It’s used for many good things, like home buying and student loans for college education. However, getting into too much debt can be very stressful and lead to a host of… The post Good Debt Vs. Bad Debt: What’s the Difference? appeared first on Crediful. https://www.crediful.com/good-debt-vs-bad-debt/ #financialfreedom #money #entrepreneur #business #finance

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How to Get Out of Debt in 6 steps

How to Get Out of Debt in 6 steps

If you’re wondering how to get out of debt, you’re not alone. Around 64 million Americans have some form of debt. And it’s not just credit card debt keeping people up at night. According to the credit-reporting agency Experian, Americans’ consumer debt adds up to more than $15 trillion.  While each individual’s circumstances vary, trends

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Does Having a Credit Card Balance Hurt Your Credit Score?

Does Having a Credit Card Balance Hurt Your Credit Score?

You probably know that paying down debt is good for your credit score. But there’s a persistent myth about credit card balances and credit scores. Some people say that carrying a small balance from month to month somehow helps your credit score. The idea that carrying a balance helps your credit score is totally false.

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How a little hustling on the side can help solve your budget woes as rates and inflation rise

How a little hustling on the side can help solve your budget woes as rates and inflation rise

The only limitation to the things you can do for a side hustle is your imagination https://financialpost.com/personal-finance/debt/side-hustle-budget-interest-rates-inflation #financialfreedom #money #entrepreneur #business #finance #investing #financialliteracy #success #investment #wealth #motivation #financialindependence #passiveincome #personalfinance #realestate #stockmarket #debtfree #entrepreneurship #invest #bitcoin #creditrepair #debtfreecommunity #investor #trading #workfromhome #stocks #credit #financialeducation #bhfyp

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How to Trade in a Car With Negative Equity

How to Trade in a Car With Negative Equity

When you walked into the dealership, you fell in love with your current car. It was so shiny and new. Five years later, you’ve fallen out of love with your gas-guzzler with the thread-bare tires and are wondering if you could just trade it in for the next beauty. Then you remember you still owe

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Dear Penny: Can I Get Debt Forgiveness if I Owe K From Bailing Out Family?

Dear Penny: Can I Get Debt Forgiveness if I Owe $50K From Bailing Out Family?

Dear Penny, I am a soon-to-be divorcee after 20 years of marriage and five years of separation. I’ll have no alimony or spousal support after the split.  What is the best way to eliminate my debt, i.e., debt forgiveness? My income is on the poor level, I may add. Throughout the years, I lent over

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Student Loan Forgiveness Application Now Live Through Beta Site

Student loan borrowers can now apply for up to $20,000 in one-time loan relief after the U.S. Department of Education (DOE) launched a beta application. The DOE said it started performing this soft launch on Oct. 14 to work out any glitches ahead of the full rollout, which is expected sometime later this month. You

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What Are the Pros and Cons of an Adjustable Rate Mortgage?

Adjustable rate mortgages got a really bad reputation during the Great Recession, but now they’re back in a big way. In fact, they’re more popular than they’ve been in 15 years. Hordes of homeowners began defaulting on their adjustable rate mortgages back in 2008, contributing to a massive housing crash. ARMs have since become more

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The Fed Is Hiking Interest Rates… Again. What Does It Mean for Your Wallet?

The Federal Reserve is raising interest rates to tame high inflation. Here’s what that means for borrowers, savers, and investors.The Federal Reserve is raising interest rates to tame high inflation. Here’s what that means for borrowers, savers, and investors. The post The Fed Is Hiking Interest Rates… Again. What Does It Mean for Your Wallet?

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Struggling to Stay Motivated? Try the Debt Snowball Method

Two major methods dominate the debt repayment sphere: the debt snowball and the debt avalanche. One says you should pay off debts with the highest interest rate first. That’s the debt avalanche method. The other says to pay off your smallest balances first so that you can enjoy quick victories and build confidence. That’s called

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How Does a Heloc Work? Everything You Need to Know about Home Equity Lines of Credit

How Does a Heloc Work? Everything You Need to Know about Home Equity Lines of Credit

Home equity is great for homeowners looking to take out a low interest loan. But, while it comes with a lot of opportunities, there are some dangers in using your home as collateral. Home equity is great for homeowners looking to take out a low interest loan. But there are some dangers in using your

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Will My Student Loan Debt Forgiveness Be Taxed?

Will My Student Loan Debt Forgiveness Be Taxed?

You may be celebrating if you qualify to receive the recently announced federal student loan forgiveness. In some states, however, you could be taxed on the forgiven portion. What felt like a clean slate for many student debtors may now have an unexpected smudge, but only a limited number of recipients could face taxation. How

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How Does Inflation Impact My Credit Card Debt?

How Does Inflation Impact My Credit Card Debt?

Inflation is when the prices for goods and services gradually rise, which in turn means your money won’t go as far to cover your expenses. Like most Americans in 2022, you’ve likely felt the sting of inflation when paying for gas, groceries and other goods and services. And if you use credit cards to make

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What Is a Payday Loan and Why Is It a REALLY Bad Idea to Get One?

What Is a Payday Loan and Why Is It a REALLY Bad Idea to Get One?

A payday loan may seem like the only option in a financial emergency if you have poor credit and no savings. But it can do a LOT more harm than good. A payday loan may seem like the only option in a financial emergency if you have poor credit. But it can do a LOT

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