Decorating your home, buying gifts and making elaborate holiday meals are just a few of the things that make the holiday season so special year after year. Holiday fun is a great escape from the doldrums of everyday life, but all that fun and diversion can get pricey. Instead of spending on the holidays and worrying about the debt later, we recommend following some planning guidelines. Your holiday season doesn’t have to be totally debt-free, but these tips will help…
Filing for bankruptcy is an important decision that is usually made under stressful circumstances. If you are overwhelmed by your debt, default is a legal process that could relieve you of your financial burdens. In the short term, filing for bankruptcy could stop a foreclosure or car repossession, protect your wages from garnishment, or keep your utilities from being turned off.
As Gen Z-ers enter their twenties there has been a dramatic increase in their credit card use. At 31.4 million strong, credit-eligible Gen Z-ers make up 40% of all consumers in the United States. This influx of new spenders has reinvigorated the credit card industry after the lull it experienced when millennials were coming of age during the 2008 recession. Why is this new generation so eager to use credit cards and will they learn from struggles of their parents…
Consolidating your credit card debt can help simplify your monthly payments and fast track you to paying off your debt. Unfortunately, there are a few things that can derail your progress. If you are considering debt consolidation for your credit cards, make sure you avoid these mistakes.
There are several ways to transfer responsibility for a credit card balance from one person to another. While someone could certainly pay your credit card debt on your behalf with a bank account, transferring ownership of the debt itself is more complicated. In order to address the mechanics of transferring a credit card balance to your partner, we should first address some fundamentals of a traditional credit card balance transfer.
A balance transfer credit card with a low or no-interest introductory period could help you pay down your principal and save a lot of money in interest. Considering all the pros and cons of a credit card balance transfer will help you make an informed decision about this option.
If you’ve decided a balance transfer credit card is right for you, following these steps can help the process go smoothly. A balance transfer is a great way to take advantage of a special introductory rate that can help you pay down your credit card debt faster.
If you are managing high-interest credit card debt, a balance transfer could help you pay it down faster and with less interest. People often use balance transfers to take advantage of 0% introductory rates on new cards, as well as other incentives that may be offered to entice borrowers to transfer their balances.
One of the hardest parts about paying off multiple debts is knowing where to start. It can be easy to become overwhelmed and settle with minimum payments across the board, but this leads to being in debt longer and racking up interest and fees. Reprioritizing your debts and pursuing a repayment strategy can help increase your long-term savings and motivation. Two of the most common debt repayment methods are the snowball method and the avalanche method. Although they’re similar in…
Whether you’re just starting a new romantic relationship, are considering tying the knot or have been married for years, you’ve likely discovered conversation topics that you would prefer to avoid. Money and debt are often at the top of our personal “do not discuss” list, which can lead to major problems down the road. In a recent study of divorced individuals, 36.1% of them reported that financial problems were a big contributing factor to their divorce.