Credit card debt can be difficult to manage even in the best of times, but increasingly high interest rates are adding to that challenge. In June, the Federal Reserve announced a 0.75% increase to the federal funds rate – its largest hike in almost 30 years. Increases to this rate tend to make borrowing more…
This article is reprinted by permission from NerdWallet. As prices on goods and services continue to rise because of inflation, scaling back expenses isn’t the only way to free up cash to cover essentials. Credit cards can feature valuable perks for new applicants, whether your goal is to pay off debt or save on costs….
Read More “5 ways your credit cards can help you fight the pain of inflation” »
One look at a typical cardholder agreement makes clear that credit cards come with plenty of fine print. Even so, a lot of information isn’t readily available to cardholders, especially regarding what they can ask for from their card issuers and how they can manage their accounts more cost-effectively. A recent NerdWallet survey found significant…
Read More “How much do you know about credit cards? Try this quiz — it may help save you money.” »
This article is reprinted by permission from NerdWallet. In this series, NerdWallet highlights people’s debt payoff journeys. This month, Kenley Young recounts how he combined lots of tools for cutting debt, with knowledge he gained working at NerdWallet, to wipe out credit card debt. In the first week of 2022, I checked off a long-running…
Read More “It started with a guitar, and turned into a $ 20K debt: How I paid it off in 8 steps” »
I’ll be 57 next month and am divorced with three kids living with me. One is 28, she’s working, another is 21 and a senior in college (with a full scholarship) and the youngest is 15 (a sophomore in high school with a full scholarship). I plan to retire at the end of next year…
In a matter of months, it’s becoming more expensive to carry a credit card balance, a car loan or a mortgage as the Federal Reserve’s interest rate hikes have seeped into borrowing costs. It’s tough medicine that central bankers hope will break the fever of hot inflation – and no one expects the doses to…
Read More “3 crucial financial moves to make after the Fed’s 75 basis point hike” »
After months of speculation, Apple (AAPL, + 1.76% ) finally unveiled its buy now, pay later offering this week, wading into an industry that’s experienced explosive growth. But consumers should be wary of jumping into the service and consider some of the potential pitfalls, observers say. Buy now, pay later (BNPL) startups offer a simple…
Read More “Apple is offering ‘buy now, pay later.’ 4 reasons to think twice before signing up” »
I am a 53-year-old single man with very little in savings. I paid off all my credit-card debt a couple of years ago. I have now decided to purchase a home. My rent has increased to the point where it is almost as much as a mortgage, and that is why I am purchasing a…
