Payday loans are scary. And frankly they’re not just scary, they should also be illegal. Payday loans trap Americans, especially lower-income Americans, in a cycle of debt that could take years to get out of. What happens when you have a family to feed? Or your air conditioner breaks? Your electricity turns off? Your roof […]
How you can help stop the debt trap Read More »
Which should you do first: build your emergency savings fund or pay down debt? Right now… 56% of Americans are living paycheck to paycheck 70% of Millennials specifically are living paycheck to paycheck (more than any other generation!) 69% of adults have less than $1,000 in their savings account Average American debt stands at $6,270
Should saving still be a priority if I have debt? Read More »
We talk a lot about financial freedom over here in the office… What does financial freedom really mean? How do you know you’ve achieved financial freedom? What does it take to feel financially free? How different would your life look if/when you achieve financial freedom? Generally, financial freedom is understood as being able to live
What Does Financial Freedom Mean to You? Read More »
I’d argue the worst possible way to get a loan is through a payday lender. Would you agree? If you have used a payday lender before, you know what it feels like to feel so strapped for cash that you have nowhere else to go. After all, common problems experienced with payday loans are: Absurdly
Which is Better: Early Wage Access or Small-Dollar Loan Program? Read More »
Every year, roughly 12 million Americans take payday loans out, which is the worst predatory lending practice. This type of loan is typically for a small amount, but a borrower needs to write a post-dated check for the full amount including any interest or fees. Should the loan not be repaid on time, the predatory
Predatory Lending: Where Employees Turn When They Have High Debt and No Savings Read More »
As the economic crisis continues to grow, more Americans are experiencing an overwhelming sense of financial stress and despair. Millions of people across the country have endured lay-offs, furloughs, or reduced working hours leaving them in a financial pinch. Gaining access to funds to help pay medical bills, rent, or even an unexpected car
The Difference Between Employer-Sponsored Personal Loans and Earned Income Advances Read More »
Recent changes to the FICO score, the most widely used credit score in the world, are likely to affect the score of millions of consumers, and even their ability to access a loan in the upcoming year. Why should you care about the new changes? Your credit score builds your credibility with lenders, and therefore
How The New Changes to FICO Can Impact Your Financial Future Read More »
Debt consolidation provides a means for rolling multiple debts with high interest, such as credit cards, into a single payment. When done correctly, it can be a good way to reduce your total debt and help you pay it off quicker. What is an Unsecured Loan? An unsecured loan, sometimes called a personal loan, or
Should You Consolidate Debt with an Unsecured Loan? Read More »
A loan shark is a person or company that lends people money and charges upfront fees and a high interest rate on very short-term, small loans. Typically, loan sharks target people who are in financial distress and in desperate need of cash. They will harass borrowers by means of intimidation, threats, and blackmail if the
How to Help Employees Avoid Loan Sharks Read More »
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