There are plenty of financial products, like loans, mortgages and credit cards, that can help us achieve big goals. Unfortunately, financial services can also be incredibly restrictive, shutting those who could benefit the most from using them out.
To understand the anatomy of a credit score, you should begin by looking at a credit report, what it includes and how it is used by lenders. The credit score breakdown is based on information available to credit bureaus in a credit report.
Credit scores are numbers that evaluate your creditworthiness and financial health. They are issued by credit bureaus or other consumer reporting agencies and are used by lenders to evaluate consumers for credit approval, terms and interest rates. In the U.S., there are three main credit bureaus: Equifax, Experian, and TransUnion. Most credit scores are issued […]
If you regularly worry about money, you are not alone. Every year the American Psychological Association (APA) commissions an annual nationwide survey to examine and understand the impact of stress. And every year since it began collecting data in 2007, money-related stress has been a top concern.
It’s 11 PM on a Friday, and I’m doom scrolling on the internet when I take a detour to Refinery 29 for something light. I end up down a rabbit hole called The Money Diaries.
Economic theories, like the paradox of thrift, help explain common, observable behaviors and outcomes in financial markets. They also are the basis for strategies to deal with economic problems. We are familiar with concepts such as supply and demand, but there are more than fifty economic theories, many of which were interpreted by renowned economist […]
When it comes to personal finances, it can be hard to describe how you’re doing and what you need. It’s easy to say “I’m not making enough money” or “I’m doing fine financially,” but that doesn’t shed light on what’s really going on. Can the cause of your financial woes truly be boiled down to […]
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 […]
If you’re in debt, you can likely point out the effects that it has on your life. The inability to accomplish your financial goals, facing high interest payments, and dealing with garnished wages may first come to mind, but have you considered the impact that debt can have on your mental health?