Even before young people get accepted for a paying job, their college loans would already pose a threat to the financial stability that they are just starting to build. Once you have managed to secure a job, it is quite easy to get sucked into the offer of credit card companies for you to have an account with them. In a world which relies mostly on a credit system, it is difficult to get by on purely cash anyway, so you acquire a couple or more credit cards. Before you know it, you are knee deep in debt. After deducting […]
Are you looking at trying to get things sorted out when it comes to your finances? You’re not the only one. Indeed, most people cite a need to tighten their financial belt and get things sorted out on a much grander scale than before. A lot of people are standing up for themselves and saying that they will no longer give in to having a bad financial life. The truth is that everything can be fixed over time. You can indeed get out of debt. There are some great tools and policies out there that can help you turn things […]
Research suggests that the Americans have started to use their credit cards again and in a big way. In the third quarter of 2011, credit card debt jumped 155% as compared to the same period a year ago. While the charge-offs and combined debt rose to $16.82 billion in Q3 of 2011, the Federal Reserve’s credit report illustrated a -2% drop in revolving outstanding credit. The Fed says that there’s a spurring increase in the non-revolving debt in the form of student loans and auto loans and that it increased by $7.5 billion. While it is common for the debtors […]
It is important to be wary about using a financial advisor though. Some are tied to certain companies and then they will only be able to recommend products that the company offers. This is fine if you have a particular financial provider that you want to go with, but if you want a completely independent opinion then you will need to go to an independent financial advisor.