How young adults can start building credit

How young adults can start building credit

Mstudioimages | E+ | Getty Images There’s a lot to figure out after graduating from college. In addition to landing a job and finding a place to live, building your credit score is one of the most important things you can do to start down the path of financial success. The three-digit number represents your … Read more

Student loan payments are not due until September. What you need to know

Student loan payments are not due until September.  What you need to know

The Biden administration has been working to end the pause on loan repayments as the economy’s recovery from pandemic lows continues. Jose M. Osorio | Tribune News Service | Getty Images The US Department of Education has extended the pause on federal student loan payments for the sixth time since the pandemic began more than … Read more

Here’s why your credit score matters and how to improve it

Here’s why your credit score matters and how to improve it

Pictures of people | Istock | Getty Images In just a few months, mortgage rates have gone from just over 3% for a 30-year fixed loan to just north of 5%. As potential buyers keep track of these numbers, there may be one thing they’re forgetting: their credit score. The three-digit number has a big … Read more

Here’s what the Fed’s planned rate hike means for your wallet

Here’s what the Fed’s planned rate hike means for your wallet

The Federal Reserve is expected to raise rates on Wednesday as it seeks to contain soaring inflation. The first quarter-point increase in the fed funds rate in three years likely lay the groundwork for additional hikes to follow. “The cumulative effect of rate hikes is what’s really going to impact the economy and household budgets,” … Read more

How to Leverage Your Home for Cash as Home Equity Hits an All-Time High

How to Leverage Your Home for Cash as Home Equity Hits an All-Time High

Whether it’s a kitchen remodel or a dedicated workspace, after a year of living, most homeowners have at least considered the idea of ​​a home improvement project. Still, anyone who has tried to dip into their house for cash might be surprised. Soaring home prices have resulted in a record amount of available equity. At … Read more

Home Equity Loan vs. Cash Refinance: Pros and Cons

Home Equity Loan vs. Cash Refinance: Pros and Cons

Many Americans are suddenly wealthy in the house. On paper, anyway. Soaring home prices have resulted in a record amount of available equity. At the end of last year, about 46 million homeowners held a total of $7.3 trillion in equity to leverage, the highest amount on record, according to Black Knight, a mortgage technology … Read more

Here’s what you need to know about managing your debts in retirement

Here’s what you need to know about managing your debts in retirement

Most Americans have debt, whether it’s student loans, a mortgage, a credit card, or a car loan. But what happens to debt management when you are retired or close to retirement? While many Americans were able to pay off some of their debt at the start of the pandemic when restrictions on activity and aid … Read more

Inflation and Rising Interest Rates Mean You Should Pay Off Your Debt Now

Inflation and Rising Interest Rates Mean You Should Pay Off Your Debt Now

peki | E+ | Getty Images Some of your debt is about to get more expensive On Wednesday, the Federal Reserve raised its key rate by a quarter of a percentage point. This, in turn, will likely impact the rates charged on your credit cards. The average rate is just over 16% right now, according … Read more

Goldman Sachs is betting you’ll want a $10,000 loan from the investment bank

Goldman Sachs is betting you’ll want a ,000 loan from the investment bank

David Zalik, founder and CEO of GreenSky. Chris Hamilton | GreenSky Goldman Sachs, the 153-year-old investment bank, is now officially in the home improvement loan business as it continues to push into the finances of ordinary Americans. The bank plans to add one million customers a year to its fledgling retail division of Marcus through … Read more

The Fed could become more aggressive in fighting inflation. How to prepare

The Fed could become more aggressive in fighting inflation.  How to prepare

For most Americans, the soaring cost of living is weighing heavily on their wallets. “Wage growth has failed to keep pace with the dizzying pace of rising prices, which the Federal Reserve has effectively identified as ‘monetary policy’s enemy number one,’” said Mark Hamrick, senior economic analyst at Bankrate.com. After the Fed raised interest rates … Read more