Having open, honest conversations about finances before taking the leap is crucial. This means laying everything out on the table – your income, debts, spending habits, financial goals, and more. It may feel awkward at first, but creating a safe space to share financial information will set you up for success. Here are four key…
The personal savings rate in America has been on a steady decline over the past few decades. According to data from the Federal Reserve, the savings rate peaked at around 13% in the early 1980s but has since dropped to just 6.2% as of August 2022. This means that, on average, Americans are now saving…
Your credit score is a three-digit number that provides insight into your financial trustworthiness and repayment history. Lenders use it to evaluate the risk of lending money to you. The higher your score, the more likely you are to be approved for credit and receive better terms. A score of 650 or below is considered…
After over a decade at historic lows, interest rates have begun rising and are expected to continue climbing. This new environment presents both risks and opportunities for investors. This comprehensive guide will give you some helpful interest rates tips by examining the impacts of rising rates across asset classes, outlining actionable strategies to profit from…
A personal loan might not be the most popular lending product to come to mind. Yet, the industry is changing rapidly, outpacing mortgage rates and auto loan growth. So far, in 2023, the personal loan percentage growth rate has increased by 11.48%, according to data. Compared to mortgage and home equity line growth, which remains…
In 2020, during the initial panic of COVID-19, fewer Americans were applying for and receiving approval for credit cards. These borrowing changes made sense at the time, as employers and workers alike were uncertain about the future. Yet, by 2023, consumers had shifted out of savings mode and began borrowing at historic rates. In fact,…
Retirement is often a complex and daunting transition for everyone. But if you dig a little deeper, you find that women often deal with a distinct set of hurdles that can make this life phase even more challenging. A recent study explains several challenges that negatively impact retirement savings. They range from dealing with losing…
Are you looking to earn your first (or second) degree from an undergraduate or graduate program? If so, it’s time to consider how expensive will paying tuition and other education costs be. After all, the decision could mean carrying debt for a decade, if not longer. Although Americans often view education as a way to…
The economic playground is in constant motion. Sometimes, you’re facing high tides (rising inflation), and sometimes, those tides level out (easing inflation). In the US, we’re currently experiencing this leveling out. As you probably know, inflation refers to price increases. When inflation eases, those increases slow down. Let’s have a look at some important tips…
Today, we’re talking about a topic that affects all of us – salary. To be specific, there is an escalation in yearly salary expectations all around the United States. Recent studies shine a light on this. Can you believe that since 2010, the average American’s salary has increased by about 31.2%? But why? Three big…
