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Americans’ collective credit card debt balance hit $930 billion in Q3 2022. That’s a $43 billion jump from the previous quarter. The average cardholder now has more than $6,000 in credit card debt, closing in on 2019’s all-time high. But our debt burden isn’t equally shared. Most Americans have no credit card debt at all. […]
Average Credit Card Debt in America – 10 Key Findings Read More »
When average monthly new-car payments surpassed $700 in May and car prices reached record highs, many potential car buyers decided to sit on the sidelines until the market returned to normal. Six months later, normal looks further away than ever. The Federal Reserve continues to raise the federal funds rate, driving auto loan interest rates…
The New Reality: A $700 Monthly Car Payment Read More »
A zero down payment mortgage can be a good idea, but there are some drawbacks to consider before taking out this type of loan. Read on to discover the pros and cons of no down payment loans to see if it’s right for you. What Are No Down Payment Loans? As the name suggests, a
Are No Down Payment Mortgages a Good Idea? Read More »
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
Principal-only payment vs. principal and interest: Which is better? Read More »
If your loan has one, you need to know what a prepayment penalty is, how to read the terms, and how to avoid them in the future. The post What Is a Prepayment Penalty for Paying Off a Loan Early? appeared first on Money Crashers. https://www.moneycrashers.com/prepayment-penalty-pay-off-loan-early/ #financialfreedom #money #entrepreneur #business #finance #investing #financialliteracy #success #investment
What Is a Prepayment Penalty for Paying Off a Loan Early? Read More »
Shoppers filling their carts this holiday season will likely have the option to “buy now, pay later” at checkout. Known as BNPL for short, these payment plans break up your purchase into smaller, equal installments, often for zero interest and no fees if you pay on time. If you’re looking to stretch your gifting dollars…
5 Buy Now, Pay Later Headaches to Avoid This Holiday Season Read More »
A reconditioning fee is an added dealer charge you might find when buying a used car. It’s intended to cover any costs the dealer incurs to make sure a used car is showroom-ready, from mechanical inspections to detailing. Are reconditioning fees legal or negotiable? Reconditioning fees are legal, but that doesn’t mean you should pay…
What Is a Reconditioning Fee on a Used Car? Read More »
Tires are a big part of the cost of owning a car, and the range of tire prices doesn’t make it easier to budget for them. The price of tires depends on several factors, including how they perform in certain weather conditions, how well they handle, and what type of terrain they can manage. Each…
How Much Are Tires? Read More »
You went in for an oil change. You left with an itemized bill as long as your arm. Costly services are a reality for many car owners, especially for those who have delayed maintenance. According to insurance marketplace SmartFinancial, the cost of car parts has jumped since early 2021. Many people don’t trust their mechanics…
Why Your $50 Oil Change Just Cost $500 Read More »
The Department of Education is reconsidering what counts toward income-driven repayment forgiveness. Starting in November 2022, borrowers who have been paying their federal student loans for 20 years or longer can expect to see the remainder of their debt discharged, while millions more will move significantly closer to forgiveness. Income-driven plans offer reduced payments over 20…
Q&A: The New Student Loan Income-Driven Repayment Waiver Read More »
The financial services company Figure is no longer offering new personal loans. Instead, the company is focusing on home lending options like home loans and refinancing and home equity lines of credit. Figure used to offer online personal loans to good-credit borrowers, with loan sizes from $5,000 to $50,000. While the loans came with origination…
Figure No Longer Offers New Personal Loans Read More »
The 8th U.S. Circuit Court of Appeals has granted an emergency stay pending the appeal of a lawsuit seeking to delay the scheduled rollout of the Biden administration’s promised student debt relief. In other words, borrowers hoping to see $10,000 or $20,000 wiped from their debts will have to wait while this lawsuit proceeds; hearings…
Lawsuit Stalls Student Debt Relief: What Now? Read More »
With used car prices higher than they’ve ever been, millions of leased-vehicle drivers are asking themselves the same question: Should I buy out my lease? There are several reasons buying your car at lease end is a good idea, though there are also times when it isn’t. Fortunately, the process is relatively simple. Your dealer
Should I Buy My Leased Car? – Reasons to Say Yes (and No) Read More »
Several lenders use alternative data that goes beyond credit scores; if your credit is bad or limited, you could still get a great rate.Several lenders use alternative data that goes beyond credit scores; if your credit is bad or limited, you could still get a great rate. The post Best No-Credit-Check Loans that Use Alternative
Best No-Credit-Check Loans that Use Alternative Credit Data Read More »
Full student loan forgiveness could be closer than you think under temporary rules for Public Service Loan Forgiveness, or PSLF — but time is running out to apply. “They should rush to get this done because the program is far more inclusive than it’s ever been in the past,” says Kristen Ahlenius, an accredited financial…
Time’s Almost Up to Apply for Bigger Student Loan Forgiveness Read More »
Don’t expect car prices to drop significantly anytime soon. Instead, new-vehicle prices — already at record highs — will remain elevated, automotive experts say. At the same time, used-vehicle pricing should moderate as the Federal Reserve continues raising interest rates to curb inflation. Analysts are closely tracking vehicle demand, with consumer sentiment low amid signs…
When Will the Car Market Return to Normal? Read More »
When it comes to the cost of car batteries, electric vehicles take the trophy for the most expensive type. Depending on the make and model of your vehicle, a battery can run you between $4,000 and $20,000. If you own your electric vehicle long enough to need to replace the battery, this maintenance will be…
How Much Do Electric Car Batteries Cost? Read More »
Cars are expensive, so most buyers finance them. They use auto loans to do that. But an auto loan adds a new set of wrinkles to the already annoying car buying process. To avoid getting taken for a ride on your next car purchase, learn how auto loans work and how to avoid their pitfalls.
What Is an Auto Loan and How Does Financing a Car Work? Read More »
You’ve probably heard the horror stories of crazy-high battery replacement costs for electric cars. Fears of battery failure, limited range and high purchase prices might make you wonder if buying a used EV is a smart decision. This answer is, it depends — it depends on the condition of the EV you choose and how…
Is a Used Electric Vehicle a Bargain or a Trap? Read More »
[mu30_js name=”toc” skip= “5 6 8 9 11 12 13 15 16 19 20 21 22”] Poor credit is that status no one wants to be in voluntarily. But sometimes it happens to the best of us. It can be due to pure financial mismanagement, but it can just as easily be the result of
Best Personal Loans for Bad Credit Read More »
