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2022 Debt & Credit Card Use Statistics in the U.S
In the year 2020, most Americans were getting financial support from the government. Their spending was also low due to restricted movement. This was as a result of the lockdowns, travel, and the mere fear of being exposed to large crowds in the midst of the COVID-19. Consequently, the credit card debt decreased from 930 […]
Examples of Good Debt vs Bad Debt
Good debt and bad debt are terms used to describe different types of debt and their effects on your financial health. Good debt is debt that improves your income or net worth, can be repaid responsibly, and has a good return on investment. Bad debt, on the other hand, is debt that you are […]
Stop Wasting Money on Subscriptions: Here’s How to Cancel Subscriptions You Forgot About
To give you an idea of how you could forget your subscriptions consider this study. The survey found that on average, Americans spend about $219 monthly on subscription services. The amount is quite high but it’s the number of people who weren’t aware of their spending that was alarming: On average, consumers underestimated their monthly […]
What’s Better, Investing Your Money or Using it to Pay Off Debt Sooner?
Every day, people have to make decisions about their money. The choices they make have an impact on their financial health, so people have to be informed if they want to make the right decision. When presented with the choice to invest or pay off your debt, you need to understand how each will affect […]
How to Find & Track Monthly Billing Charges
Entertainment, educational, gaming and networking platforms have provided an alternative to accessing unlimited on-demand content. However, keeping tabs on services such as Netflix, Disney+, Amazon Prime, ABC mouse, Kindle unlimited, PlayStation Plus, or Blue Apron becomes difficult if you are not keen on meticulously reviewing your credit card statement each month. With rising inflation money […]
Tips for Paying off Holiday Debt Before it Hurts Your Credit
Now that the festive season is behind you, what remains with you are the beautiful memories and of course, the huge holiday debt that you accumulated. As the new year kicks off, two factors can greatly impact your credit; how you pay (or not pay) your debt and how much of your available credit you […]
Mistakes to Avoid When Dealing with Debt Collectors
A past due or delinquent account can quickly be turned over to a collections department or agency that will then become responsible for collecting the debt. Debt collectors can be intimidating to consumers, especially when their attempts to collect a debt lead to daily calls, emails, letters, and text messages. The idea of facing off […]
DIY Tips for Building Your Credit Score
If you’re looking to buy a home, a car, or even take up a personal loan but have a less-than-optimal credit score you’ll need to understand your credit rating, learn how it is calculated, and take steps to improve your credit score. Below is a breakdown of do-it-yourself tricks to improve your creditworthiness. 1. Understand […]
Reporting Rent to Credit Bureaus (low or no-cost ways to report rent payments to credit bureaus)
As we move forward in our adult lives, we eventually learn the importance of having a good credit score. A good score reflects adult financial responsibility. “Good credit” usually refers to a score that is about 700 or higher. With a favorable score, borrowers can qualify for loans, the best credit card deals, and the […]
Can’t Get Approved for Credit? Here’s Why
If you are approved to get a credit card, you will know immediately, but if not, an adverse letter is sent to explain why the credit card was denied. The letter includes instructions to get a free copy of the credit report if it was used in decision-making. While waiting for the letter, you should […]