Debt is a major problem for many Americans. For some, their debt isn’t a problem because it is so-called good debt, such as a mortgage. But for many, their debt is in the form of credit card balances, payday loans, or other expensive forms of debt. When you’re in debt, it can feel like an…
Students who graduated college in 2018 did so with an average of nearly $30,000 in student loan debt. That’s a startlingly large amount of money. But it’s nice to know that if you’re in that boat, you’re definitely not alone. What you don’t want to do, though, is keep that debt around, as Dave Ramsey…
I live in a fairly low-income urban neighborhood, and payday loan places abound. They’re everywhere because these types of loans target themselves toward the millions of Americans who live paycheck to paycheck. They’re just getting by, and a single disaster can make it impossible to pay that month’s rent. Payday loans are a problem for…
These days “round up” apps are everywhere (Acorns, DollarBird, Digit). These apps automatically “round up” your transactions, and toss your change towards specific accounts or goals. They’re basically the modern version of the change jars my grandma used to use to save for vacations. Since many of us rarely use cash anymore, saving the change…
At least once a year I look down at the dust on my baseboards and try to think of the last time I cleaned them. Typically we wait until spring to clean the minutiae of our homes but in years you forget, that you’ve got to get down on the floor and wipe your baseboards…
Founded in 2005, and generally recognized as the first peer-to-peer (P2P) lending platform in the US, Prosper has funded more than $10 billion in loans since. As a P2P lending platform, they bring borrowers and lenders together. While borrowers can get personal loans ranging in size between $2,000 and $40,000, investors can put as little…
P2P lending and investing eliminate the middleman. It creates a platform where consumers can come to borrow money, while investors come to invest money in the same loans. The process removes the banks, enabling both borrowers and investors to work directly together. This absence of the middleman produces higher returns for the investor, and often…
Bankruptcy is never a comfortable topic, particularly if you’re the one considering filing for bankruptcy. When the debts are piling up, and you can’t see a light at the end of the tunnel, bankruptcy can be a viable option. The key is to thoroughly understand the bankruptcy process. This includes knowing which debts you can…
I love FinTech, and I’m always looking for the latest personal finance applications that will help me achieve my financial goals. A few months ago, I had an idea about linking the principle of Acorns and penny rounding transactions with attacking personal debt. I thought that if I wanted this, others out there probably did,…