Written by John Brown Payday loans are one of the most common types of borrowing in the US. Statistics show that about 6% of the US-Americans have taken out at least one payday loan in the last five years, and twelve million citizens resort to payday loans annually. Although payday loans are positioned primarily as
Written by John Brown The issue of looking for the most favorable borrowing option never loses its relevance in the USA and especially against the background of economic recession caused by the COVID-19 pandemic that affected many households. As recent surveys show, over half of the respondents in the USA (56%, according to Bankrate) do
Someday, you won’t have to worry about rent money and credit card debt. But in the meantime, you have to take control of your financial situation. Let’s say you’re in a bind and need to earn money quickly. What do you do, and where do you go for help? And let’s be clear, we’re talking
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