Debt Collections: Know Your Consumer Rights
All American consumers have protections against debt collectors under the Fair Collections Practices Act (FCPA). This federal law dictates how often debt collectors can contact you, how they can contact you, and what they can say. The debt collection industry can be an aggressive field with individuals motivated to do whatever it takes to get […]
Debt Consolidation vs. Debt Settlement: Which Is Right for You
You need help with your debt. And after some research, you’ve come across two popular choices: debt consolidation and debt settlement. But which is right for you? Both have their advantages and disadvantages, so it depends on your specific situation. Keep reading to learn everything you need to know about debt consolidation vs. debt settlement […]
Joint Bank Accounts: What Are the Legal Implications of Opening Them?
For many people, opening a joint bank account makes it easier to share financial information with family members. A joint account is any type of financial account that has at least two owners. For example, you can have joint bank accounts with your spouse or an elderly parent. Although opening a joint account makes it […]
The Psychological Effects of Debt and How to Cope
So, you’ve found yourself in debt—and enough debt that you’re constantly worrying about it. Know that you’re not alone. As of the end of 2024, the average American household held an all-time high debt amount of $104,215. When everyone around you is in debt, it can become easy to normalize it. But debt can harm […]
AI’s Role in Transforming Personal Finance
Automated expense tracking. Real-time updates. Investment planning. AI has many benefits in personal finance, and it is more affordable and accessible than ever. You, too can utilize the power of AI to transform your financial life, whether you’ve used AI before or you’re a complete novice. Learn exactly how AI can positively impact your money […]
9 Major Common Life Events That Will Impact Your Finances
Life is unpredictable. And you won’t be able to plan for every financial surprise that hits you along the way. But, part of being financially responsible is preparing for what you can. Most people experience major life events that greatly affect their finances. Being aware of how these big life moments will impact your wallet—and […]
Avoiding High-Interest Credit Traps – 8 Strategies to Consider Today
High-interest credit products such as payday loans can often be attractive and appear to be a quick solution during financial challenges. However, these options often lead to a cycle of debt that’s difficult to escape. The good news is that you can avoid falling into these costly traps by understanding the risks and adopting smarter […]
Debt Snowball or Debt Avalanche: Which Method Is Best to Eliminate Your Debt?
Are you looking for an effective strategy to tackle your debt and pay it off fast? We will be covering two popular methods today: the debt snowball and debt avalanche methods. Keep reading to learn more about them and see if they make sense for your financial situation. Understanding the Debt Snowball Method The snowball […]
Understanding Bankruptcy: Types, Consequences, and Process
The cost of groceries, gasoline, utilities, and other necessities has risen steadily, but inflation-adjusted wages have mostly stagnated. As a result, many consumers have less money available to pay for goods and services. The Federal Reserve increased interest rates in an attempt to combat inflation, making it more expensive to borrow money. For some people, […]
How To Consolidate Your Debt Wisely
Debt can handicap you, causing stress and complicating your financial life. If you find yourself juggling multiple debts, whether from credit cards, personal loans, or other sources, you might consider debt consolidation as a way to regain control. However, it’s important to call out that debt consolidation is not a one-size-fits-all solution. Used wisely, yes, […]
