Sources: “Debt Consolidation: How It Works” — Jennifer Brozic for Creditkarma.com, June 2022 “Pros And Cons Of Debt Consolidation” — Kiah Treece and Jordan Tarver for Forbes.com, April 2021 Debt Consolidation — US News & World Report
The pandemic turned the global economy upside down. Many Americans lost their jobs or received pay cuts because imposed lockdowns caused many businesses to close. In June 2020, 40 million people could not work for four weeks because their employer’s business closed down. Due to the widespread income loss, consumer lending habits around the country
Sources: Share of used U.S. vehicles with financing 2017-2021, Published by Statista Research Department, May 23, 2022 Share of new U.S. vehicles with financing 2017-2021, Published by Statista Research Department, May 23, 2022 Federal Trade Commission. “Financing or Leasing a Car.” Consumer Financial Protection Bureau. “Auto Loans Key Terms.” Consumer Financial Protection Bureau. “Plan To
At first glance, a credit score is just a three-digit number, but this number is what actually influences your financial life a lot. Whether you want to get a payday loan or need money to fund your wedding, you’ll get your score checked by a potential lender. If it’s high enough — you’ll get your
Inflation has gained a bad reputation among economists and policymakers. However, as with most financial tools, it has both pros and cons. The inflation level of an economy influences many factors, such as loan interest rates, GDP, unemployment rate, and taxes. Lenders and borrowers are directly and inversely affected by various inflation levels. Some inflation
COVID-19 has forced countries around the world into a complete lockdown as government officials advise people to avoid large gatherings and self-isolate at home. This has led to a growing number of companies and organizations closing up shop, cutting their number of services, and canceling events. While this will play an important role in flattening
Now that millions of Americans are forced to self-isolate in their homes, many are either left without a job or have to make do with significant pay cuts. The good news is that state and federal programs are offering help. Perhaps the most recent example of this would be President Trump’s orders to cease foreclosures
Were you recently laid off due to COVID-19? While the COVID-19 outbreak has inflicted a major blow to job-seekers in multiple industries, it has also transformed the hiring landscape in teleworking communications, online retail, pharmaceutical and shipping companies—each of which is adding more staff to meet the recent increase in demand. The sudden economic shift
The Coronavirus was officially declared as a pandemic on March 11. As of now, the pandemic has brought the global economy to a standstill, and the IMF has predicted a recession that could potentially be worse than the 2008 global financial crisis. Managing your finances in a prudent manner is paramount at this moment. Read