There is no magic wand to poof away debt. However, by managing your credit card balances thoughtfully, you can shrink them faster and reduce what you pay in finance charges.
You read that headline right. My husband and I paid off $70,000 in debt in five years, and this is our story.
The financial stress that employees suffer in the workplace is rooted in many different places. At times, it comes from debt that is out of control. For that reason, I suggest you post this list in a public place, maybe your company kitchen, so that employees can access it privately in their own time.
Keeping yourself out of debt could benefit more than just your finances. According to a study from the Center for Financial Security at the University of Wisconsin-Madison, a 10% increase in short-term debt, such as overdue bills and credit card debt, was linked to a 24% increase in symptoms of depression.
The Federal Reserve made headlines this week when it announced an increase in its key interest rate by a quarter percent after seven years of near 0% rates. What does this mean for you? We put the question to Hanscom Federal Credit Union’s Senior Vice President of Lending, Tom Becker.
You’ve got the skills. You’ve got the experience. But you’re worried your credit reports may hold you back from getting that dream job. And to make matters even more aggravating, you have no idea what exactly the hiring company will be looking for on the reports. While it’s not possible to say exactly what any particular company looks for on a credit report when making hiring decisions, there are certain items that employers frequently mention as credit-related reasons for passing over certain candidates. Here’s a list along with what steps you can take to address the impact of the negative information.
Move over credit cards – college debt is now the No. 1 source of consumer debt in America, according to data from the Federal Reserve Bank of New York.