Does Debt Define the New American Dream?

Personal Finance

Does Debt Define the New American Dream?

Does Debt Define the New American Dream?

There is great disparity in how people define the American Dream according to a new Credit.com survey, and not surprisingly, getting out of debt represents the ultimate financial goal for many people. The survey, conducted by GFK Custom Research for Credit.com, found that most respondents (27.9%) said the American Dream is retiring financially secure at... Read More

How Financial Stress Can Fry Your Brain

Managing Debt

How Financial Stress Can Fry Your Brain

How Financial Stress Can Fry Your Brain

The worry over making ends meet can be as draining as a leaky faucet — the constant drip, drip, drip of stress lingers behind every decision, annoying you. Distracting you. A study published this month in Science magazine analyzed the impact of financial stress on one’s cognitive performance, and the results showed that those in... Read More

5 Credit Mistakes Older Americans Make

Credit Score

5 Credit Mistakes Older Americans Make

5 Credit Mistakes Older Americans Make

Seniors are getting squeezed in so many ways. Healthcare and other basic expenses are rising. Fewer have pensions to supplement their Social Security income in retirement. Low interest rates mean what savings they do have isn’t growing quickly — unless they are willing to invest in higher-risk financial products. And then there’s the other side... Read More

40% of All Home Sales Are Now Cash Deals

Mortgages

40% of All Home Sales Are Now Cash Deals

40% of All Home Sales Are Now Cash Deals

Home sales were up in July, and a large chunk of them were cash purchases, according to RealtyTrac’s July 2013 U.S. Residential & Foreclosure Sales Report. Sales volume increased 11% from July 2012 to 5.5 million, a 4% increase from June. All-cash purchases, in which no loan is recorded at the time of sale, accounted... Read More

5 Creative Ways to Come Up With a Down Payment

Mortgages

5 Creative Ways to Come Up With a Down Payment

5 Creative Ways to Come Up With a Down Payment

To successfully purchase a home today, you will need a down payment of at least 3.5% of the purchase price. Gone are the days of no down payment alternatives, down payment assistance and seller-offered programs to come up with the money needed to buy a home. Instead, let’s look at the five ways you can... Read More

5 Crazy Credit Card Rewards

Credit Cards

5 Crazy Credit Card Rewards

5 Crazy Credit Card Rewards

We all know that we can use our rewards credit cards to earn frequent flier miles, hotel points or simple cash back. But what if you have a taste for something more unique than a commercial flight or a corporate hotel? Don’t worry, there’s an incredible variety of memorable and crazy credit card rewards available... Read More

How Much Does Your Credit Score Cost You?

Credit Score

How Much Does Your Credit Score Cost You?

How Much Does Your Credit Score Cost You?

You’ve heard that not having a great credit score can be costly, and you probably know intuitively that it’s true. But how much can it cost you? An extra $4,000 a year? That’s not an exaggeration. Let’s take a look at some of the ways your credit score can directly impact your pocketbook. We’ll use... Read More

Average Mortgage Debt in Russia: $400

Mortgages

Average Mortgage Debt in Russia: $400

Average Mortgage Debt in Russia: $400

The average mortgage debt in Russia was about $400 in 2012, according to a Deloitte study released in May. That’s right: An average home loan in Russia (in 2012 dollars) wouldn’t cover the cost of a good couch, let alone a house, in the U.S. Not only does that number seem low by U.S. standards,... Read More

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