Debt & Credit Tips
Our blog is designed to provide information regarding some of the critical topics those with student loans must be aware of to be able to make educated decisions regarding their future.
When Credit Card Interest is Tax Deductible
When you sit down to calculate your federal income tax, you look for every possible tax deduction you can legitimately claim. Americans spend significant amounts of money each year on credit card interest as they try to pay down their debt. On the hunt for deductions, many people ask themselves: Is credit card interest tax deductible? Unfortunately, credit…
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When to Pay Rent with a Credit Card: The Good & Bad
Like most Americans, you probably use your credit card on a daily basis for life’s common purchases — groceries, gasoline, movie tickets, and the like. Would you ever consider to pay rent with a credit card? Currently, credit cards account for over $1 trillion of the total $13 trillion in American debt. Few people think twice about charging a Netflix…
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How To Consolidate Credit Card Debt – Tips and Tricks
If you feel like your credit card debt has been sneaking up on you, you aren’t alone. For households that carry credit card debt, the average balance is $15,654. In December 2017, revolving credit that was primarily credit card debt jumped to $1.023 trillion nationally according to the Federal Reserve. This is higher than that just before the housing…
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The Complete Guide To Installment Credit
Borrowing is a huge part of the US economy with many people borrowing for various reasons. The most common loan type is a home mortgage, but people finance small purchases on their credit cards as well. There aren’t many purchases in the United States that don’t often happen on some sort of credit terms. The two most common…
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How Long Does It Take to Build Credit? What You Need to Know
If you have no credit history, it can be a challenge to build it, because many lenders will not want to give you credit. We will answer your question of “How long does it take to build credit?” and show you some ways to build credit from the ground up. But first let’s look at some basics you…
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How Does Rent to Own Work? The Process and the Pros and Cons
With the dream of homeownership out of reach for many Millennials in debt, the appeal of renting to own sounds like an alternative, achievable dream. Instead of “throwing away” thousands in rent while struggling to save for a down payment, your rent money goes toward the price of the home. So people always ask, how does rent to…
Continue Reading ->How Do Credit Cards Work?
Credit cards can be your friend or foe. They promise perks like cash back, airline points, and the benefit of building credit for buying a car or home. But they can also get you in financial trouble. Americans currently carry $1 trillion in credit card debt, which is the highest it has ever been. Many people find it…
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10 Ways to Stop Living Paycheck to Paycheck
The rush of payday is exhilarating. If you’re like many people, as soon as money hits your account, you treat yourself to a night out or new clothes. Then, you’re struggling to pay bills before your next paycheck comes and wondering where all of your money went. If this sounds like you, you’re not alone. Three-quarters of workers…
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Debt Consolidation A Step-By-Step Guide
According to the latest data from the Federal Reserve, total consumer debt in the US reached $3.6 trillion in 2016, with total average American debt being over $13 trillion in 2017. This comes out to roughly $11,140 in unsecured debt for every single American. These unsecured debts include credit cards, personal loans, medical bills, student loans, and many more.…
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Credit Repair: 3 Simple Steps
In a perfect world, all of us would have an excellent credit history. But in reality, sometimes things happen, and mistakes are made. Unfortunately, these mistakes can stay with us long after we’ve dealt with them in the form of our credit history. As it turns out, as of 2016 the average credit score in America is 695…
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