When our current cash availability doesn’t allow us to cover certain purchases or emergency expenses, borrowing money is typically the quickest available option. Two of the most popular ways to do so are taking out a personal loan and using a credit card. While both of these options involve receiving money from a lender and…
In June 2022, the inflation rate in the US touched an astounding 9.1%, a figure we haven’t seen in decades. It went down slightly in the following months, but it’s still well above 7%. There are several reasons why this is happening, starting with the fact that many companies couldn’t keep up with the increased…
When managing your current debt obligations becomes challenging, debt consolidation is one way to make your life easier. This term refers to the action of taking out a new loan to merge multiple debts into one. The main advantage usually lies in the new loan’s better borrowing conditions compared to your current ones. This means…
One important factor to consider if you are trying to improve your credit score is credit utilization. This term refers to the share of your overall available credit that is currently being borrowed. Its importance is due to its effect on your credit score. As a result, your credit utilization can impact your loan application’s…
There are various reasons you may want to get out of debt fast. You may be making sacrifices and want to spend your whole income. Or you are trying to increase your savings rate to plan for retirement. Sometimes you wish to experience the feeling of being debt-free, lower stress, and smell roses. Whatever your…
Lenders use different criteria to determine a borrower’s eligibility for a loan. One of the most important ones is the debt-to-income ratio or DTI. Loan providers use it to assess your ability to make regular repayments based on your monthly income and current debt situation. So what is the ideal debt-to-income ratio when applying for…
Nowadays, investing is no longer an activity reserved mostly for MBAs and Wall Street brokers. Tools like online banking, trading apps, and cryptocurrency wallets have made it easy for everybody to invest their money in various financial assets. The same can be said for aspiring real estate investors, who can now use the web to…
In the internet age, education is no longer a service offered exclusively by schools and universities on campus. Every day millions of people resort to courses and tutorials offered online to improve their skills and knowledge in several fields. Some of these courses lead to professional certificates and diplomas, while others just aim to perfect…
Personal loans are a very helpful solution if you are looking for a quick way to finance large expenses. This type of installment loan allows you to borrow a lump sum and repay it gradually over a long period of time. Plus, they are usually unsecured, meaning you won’t have to use your house or…
The pandemic has given an additional push to the growth of the so-called gig economy. This term refers to independent work offered by both businesses and individuals through various digital platforms. As the number of gig workers increases, so does their general demand for loans and financing, including loans for gig workers and gig economy…
