The Latest Debt & Finance Blog

How to get out of debt in 2020

How to Get Out of Debt in 2020

By Bill Fay | February 24, 2020

Surveys show most Americans will make a resolution to get out of debt in 2020. Surveys also show most Americans will fail miserably. If you want to get out of…

Image of a new credit report

How the New FICO Credit Scoring System Will Affect You

By Bill Fay | January 29, 2020

The announcement that FICO will put two new credit scoring models – FICO 10 and FICO 10T – into play this summer is the ultimate good news/bad news situation for…

Piggy bank wrapped in Christmas lights

How to Stay Out of Debt During the Holidays

By Bill Fay | December 4, 2019

Tempted to spend lavishly and spontaneously this holiday season? Looking for someone to blame? Leave the three wise men out of it. Yes, they launched the tradition of bestowing expensive…

Chalkboard with graph of rising credit card rates

Why Credit Card APR’s Are Rising, Despite Fed’s Third Rate Cut of 2019

By Bents Dulcio | November 4, 2019

Typically, a decrease in the federal funds rate means your credit card APR should fall as well, but that’s not what is happening lately in the U.S. economy. Banks have…

Pay Car Insurance

What to Do If You Can’t Afford Car Insurance

By Bents Dulcio | September 19, 2019

For most Americans, going carless is unthinkable. You need one to buy groceries, take kids to school, visit a doctor’s office and see friends and family from time to time.…

Disabled veteran in a wheelchair

President Trump Signs Order to Erase Student Loan Debt for Disabled Veterans

By Bents Dulcio | August 28, 2019

Lawmakers, economists and activist all have made headlines debating solutions to the $1.6 trillion student debt crisis burdening the lives of 44 million Americans. Some plans go as far as…

U.S. consumer concerned about debt

Consumer Debt Grows as U.S. Economy Expands

By Bill Fay | August 27, 2019

Americans are taking on ever larger debt loads as they struggle to maintain living standards. They are borrowing more on their credit cards, taking on a soaring levels of student…

Highway exit sign with arrow to bankruptcy

In Era of Trump, Has Bankruptcy Stigma Lost Its Sting?

By Bill Fay | August 8, 2019

With Donald Trump being credited or blamed for virtually every imaginable good or ill (depending on the observer, of course), we in the world of personal finance and debt management…

Military father holding his new born baby

NFCC Survey Shows Military Families Financial Struggles

By Bill Fay | June 14, 2019

The U.S. economy might be bustling for civilians, but not all active enlisted members of the military are thriving in it. More than one-third of enlisted military members do not…

Credit report next to a laptop to freeze credit checks

New Law Allows Credit Freeze

By Bill Fay | October 22, 2018

Security breaches have become so commonplace in the United States that news around them barely causes a ripple these days. Even if it’s news that provides consumers an extra layer…

Sources:

  1. Singletary, M. (2019, February 21) Does America Have a Savings Crisis? Retrieved from https://www.washingtonpost.com/business/2019/02/21/does-america-have-savings-crisis/
  2. N.A. (2012, February 23) APA report: Lack of willpower may be obstacle to improving personal health and finances. Retrieved from https://www.apaservices.org/practice/update/2012/02-23/willpower
  3. N.A. (ND) The resolution solution: Longitudinal examination of New Year's change attempt. Retrieved from https://www.sciencedirect.com/science/article/pii/S0899328988800166?via%3Dihub