Holiday spending is stressful, and many Americans overextend their credit cards, take credit card cash advances, and apply for new credit during their holiday shopping. How can you recover from all of the money you spent on Christmas presents or similar shopping “obligations”? The Simple Start: New Year Austerity Measures? Some people cannot afford to spend much after the holiday season, others choose not to purchase. No matter whether you’re … [Read more...]
Why Are You Charged for Prepayment of Your Loan?
Most of us are in some kind of debt, though the exact percentage varies by generation. Baby boomers and millennials are slightly more likely to carry debt than Generation X. Debt is a necessary part of life for most people. While there are many types of loans, the best kind is one you can prepay before its due date. Prepayment does have some drawbacks. Lenders can charge you a prepayment fee if you pay off a loan sooner than … [Read more...]
What Parents Need To Know About Student Loan Debt
What do parents need to know about student loan debt? There are several areas to be mindful of, especially if a parent is contemplating acting as a co-signer on a student loan. These range from preventive measures (starting the application process as early as possible) to future planning (the timing of your financial commitment to a child’s student loans). Student Loan Debt: Planning Counts Schools and government agencies often have a finite … [Read more...]