Buy now, pay later apps are an increasingly popular way to finance purchases. Companies like Affirm, AfterPay and Klarna allow you split the cost of everyday purchases — from running shoes to groceries — into several installment payments. Pay-in-four loans are a common model. You’re required to make a small down payment, usually around 25%, then […]
If you have a lot of credit card debt, you should seriously consider consolidating it. Credit card consolidation is when you borrow money at a lower interest rate and use that loan to pay off your higher-interest credit cards. It’s a twofer: You can save a ton of money on interest payments, and you free […]
A personal loan is a great way to fund large purchases, like home renovations or a wedding. It’s also a good solution for consolidating your debt. But not all loans are created equal. When analyzing several different interest rates, origination fees, loan terms, and loan amounts, shopping for a loan can quickly become overwhelming. It […]
If you’re struggling to pay off your student loans, rest assured — you aren’t the only one. In 2024, more than 42 million Americans had federal student loan debt, which typically takes roughly 20 years to pay off. The average borrower has nearly $38k in federal student loans — more than double the average in […]
We know how incredibly easy it is to rack up credit card debt. Nearly 50% of Americans carry a credit card balance, with the average debt totaling $6,501 in 2023.¹ Credit card holders between the ages of 40 and 49 hold even higher debt, averaging around $7,600. Rising inflation rates have made it even harder […]
Debt is a fundamental aspect of modern finance, affecting daily spending and long-term financial planning. This guide covers various types of debt, both good and bad, and their effects on our lives. Financial experts provide practical tips on escaping debt and share real-life success stories. What Is Debt? Debt is money one party borrows from […]
While many types of student loan forgiveness are tax-free federally, several states may levy taxes on student loan forgiveness. Even though some popular programs like Public Service Loan Forgiveness (PSLF) are tax free federally, every state has a different law regarding state taxes on loan forgiveness. When you add in all the other types of loan forgiveness: […]
Parents and families are in the process of figuring out how to pay for college. Given that undergraduate Direct loan limits are so low, many parents have to step in to cover the expenses. When savings and scholarships fall short, the next option often involves borrowing. For parents, that usually means choosing between a federal Parent PLUS loan and […]
A recession can wreak havoc on your finances. So it’s understandable if you’re worried by recent headlines. Economists are increasingly pessimistic as tariffs imposed on China, Canada and Mexico have gone into effect and deportations of undocumented immigrants are causing uncertainty in several sectors. Meanwhile, layoffs of federal workers is expected to lead to higher […]
Are you tired of feeling trapped by debt and longing for true financial freedom? Look no further, as we unveil seven proven strategies to help you break free from the shackles of debt and pave the way towards a secure financial future. In today’s fast-paced world, achieving financial stability is more important than ever, and […]