6 Responsible Ways To Utilize Your Tax Refund
It is that time of year again, Tax Time. While it greatly depends on your financial situation, some may find it to a curse, inconvenience, or even a blessing. Either way, it is something that all Americans participate in regardless of the outcome.
3 Reasons Not to Payoff Your Loan Early
I promise I’m not trying to trick you into paying more interest. This is probably the opposite of what you have been told to do by everyone. Believe me though; there are some scenarios in which you would benefit more from paying a loan through to term.
Generally speaking you will save more money by paying off a loan early. The situations in which you don’t want to pay it off early will be fairly specific situations. So pay close attention and always do your own homework before committing to any financial decision.
What The Prime Rate Increase Means For You
For the first time in just over a year and for the second time since 2008 the Federal Reserve has decided to raise prime rate. Prime Rate, essentially is a benchmark for the lowest rate at which an institution (typically a bank of some kind) can borrow money. Therefore, most banks base their rates around prime.
How to Fund Christmas and Get Rid of Old Stuff
My favorite holiday is Christmas, I have this super obnoxious but charming holiday cheer – nothing can get me down around the holidays, and I’m guilty of buying every single item on my kids’ wishlists. I just can’t help it. I also really enjoy getting my husband something really cool and unexpected, it’s like a new challenge every year, not to mention the grandparents, teachers, friends, and the family we adopt that we buy for. While the holidays aren’t about the gifts I find it fun to give gifts and to put a lot of thoughts into what I’m giving others. My husband loves my holiday joy but he turns into Scrooge when he sees my credit card bill come January. 🙂
Don’t Let Holiday Magic Make Your Finances Disappear
While the excitement of the holidays and gift-giving season can be a magical time for children, adults face a plethora of additional expenses during the last two months of the year. Whether its gifts, food, decorations, the perfect outfit for that holiday party, or airfare to visit family – there’s no denying the holidays can put a dent in the wallet.
Fact Check: Carrying A Balance On Your Credit Card
I can’t tell you how many times I have heard people say this to me, in an effort to seem educated on the subject. In reality, it can’t be further from the truth…
My background is in retail banking. I was the teller or banker that you saw for transactions and account questions. Naturally, personal finance questions were a common occurance. This was by far the most common question I received. I did my best to help educate those who had heard this myth. There were even times when I came across people who had already put themselves into a terrible position by racking up credit cards – in the name of building credit.
Top 3 Recommended Personal Finance Blogs
Education is Key.
While we are continuously trying to bring you the most up-to-date and relevant content via our blog; we can’t provide all the knowledge out there. We thought it might be just as helpful to provide some other quality resources related to personal finance. Understanding that everyone is at a different point in there life, we have selected 3 blogs that covers various challenges, opportunities, and solutions.
3 Reasons to Consider Direct Lender for Your Next Loan
Most of us, in some capacity have gotten a loan from a indirect lender at some point. Perhaps you took out your mortgage with the help of a mortgage broker? Maybe you went online for a personal loan and thought it was just that simple. Then you get a bill from Lender’s Anyonymous and wonder what is going on. A direct lender is someone that uses their own money to lend to you. This means that the company you apply through is making the decision on it’s own and using it’s own capital to fund and service (bill you) your loan the entire time.
There Are Fair Loans For People With Bad Credit
We all go through trials in life. Whether its a job loss, car break down or medical expenses – we’ve all been there. All of which can really screw up our financial situation. Although we all go through this, not all lenders and in particular banks get this however. So you do a quick Google search and find out there are hundreds of lenders promising a loan for people with bad credit. Then your next problem begins.
3 Ways To Quickly Payoff Your Payday Loans
We all want to get out of debt. Here are a few simple tips to help speed up the process.
We all have had a financial emergency at one time or another. In those moments, we don’t always have a lot of options available. When an unexpected bill or medical expense pops up, we tend to go with what is quick and easy. Loans (like other products) that offer us a great deal of convenience are not typically the cheapest products. They don’t have to be. You have an urgent need and they are willing to lend with often times even if you have bad credit. Don’t lose hope, there are still several ways to better manage your payday loans.
Movement to Regulate Payday Loans Is Growing
Back in June, the CFPB or Consumer Financial Protection Bureau released a series of proposed rules to tackle predatory lending. The primary targets were Payday Lenders and Auto Title Lenders. The goal is to protect consumers from financial products that keep people trapped in a cycle of bad debt. After all, the average payday loan borrower has to rollover or in other words refinance, their loan close to 7 times before successfully paying back the debt. Each time incurring additional fees and cost of the loan.
The 3 Key Components of an Installment Loan
We have all heard the phrase “you can do better”, but what if we don’t know what better is or looks like? Well this phrase does apply to your financial life and we are here to help you understand what “better” is in the context of a loan. When taking out a payday or short term loan, people often do so out of an immediate need. Often times it is at the last minute and you tend to be rushed in your decision making process. Here at Credit Fair-E, we decided to simplify the 3 most important things to look at when deciding on a loan. Take a breath, relax. Take 3 minutes to evaluate your next loan decision, it may save you hundreds in unecessary interest and fees.