Credit Card Debt Is Making a Comeback

Credit card debt took a nosedive in the early days of the pandemic in 2020 as consumers stayed home, lost work and received cash infusions from the government. Two years later, it’s back. Credit card debt increased 15% year over year — the largest one-year increase in more than two decades, according to the Federal Reserve … Continued

4 Items for Your Midyear Money Checklist

A lot can happen in six months. That’s why, as we close out the first half of the year, it makes sense to check in on your financial life. “With inflation, I think people this year are more heavily impacted than they probably have been in many years leading up to this point,” says Jason … Continued

How Debt-Related Stress Affects Body and Mind

Being in debt feels like you’re always a step behind. It doesn’t help that debt is spoken about as something that’s your fault — too much online shopping, or too many pricey pitchers of mimosas at brunch. “In our culture, in our country, we have a lot of noise about debt,” says Lindsay Bryan-Podvin, an … Continued

The 15/3 Credit Card Hack Is Nonsense — Here’s What to Do Instead

The 15/3 Credit Card Hack Is Nonsense — Here’s What to Do Instead Sometimes a grain of truth about a financial topic can morph into something that’s just plain misleading. One example is the 15/3 credit card payment trick — or hack — that you might have seen touted on the internet and social media as a … Continued

How to Crush Your Holiday Debt

The holidays have left without a trace. Well, almost. Long after the decorations have come down, you still have debt hanging around. Don’t let it put a damper on your year. Here’s what you can do to take control of your holiday debt. Review what you owe First, gather a few important details about your … Continued

Keep an Eye on Debt Using Creative Visual Aids

With an $82,000 pile of debt, buying a house seemed far in the distance for Ehren Sixon and his wife, Florida residents who embarked on a debt-free journey in 2016. They opted for the debt snowball method, a debt payoff strategy that encourages motivation by quickly attacking the smallest balances first. The couple also tracked every … Continued

5 Mistakes That Can Lead to a Bad Car Loan

5 Mistakes That Can Lead to a Bad Car Loan As if we need more bad news about car buying, an analysis by Consumer Reports shows that many Americans are drastically overpaying for their car loans. And we can’t place all the blame on the pandemic or supply chain problems. In one case, Consumer Reports … Continued

5 Options for Your Money Before Student Loan Payments Resume

5 Options for Your Money Before Student Loan Payments Resume This article provides information for educational purposes. NerdWallet does not offer advisory or brokerage services, nor does it recommend specific investments, including stocks, securities or cryptocurrencies. The Biden administration has extended the federal student loan payment pause a final time, meaning borrowers won’t owe money or … Continued

Beat Your Summer ‘Revenge Shopping’ Debt

The joy of shouting to your friends over the roar of a crowded bar, the giddiness of seeing the world rushing by below you from the seat of an airplane, the weirdly constricting sensation of wearing pants that aren’t elastic — the summer of 2021 brought back many experiences we had forgone during the past … Continued

With Student Loan Payments Set to Return, Here’s How to Get Help

For 42.9 million student loan borrowers, it’s been 18 months without a payment. That ends in October — ready or not. The interest-free federal student loan payment pause, known as a forbearance, was extended three times after it initially went into effect in March 2020 as a way to help reduce the financial blow many … Continued