New Study Finds Your Debt Could Be Hurting Your Kids

Managing Debt

New Study Finds Your Debt Could Be Hurting Your Kids

New Study Finds Your Debt Could Be Hurting Your Kids

Certain types of debt may be hurting your kids, a new study shows. Researchers at Dartmouth and the University of Wisconsin at Madison found that children whose parents had higher levels of mortgage and student debt fared better emotionally and behaviorally than children whose parents had higher unsecured debt (i.e. credit cards, medical debt, payday loans). The results... Read More

The Surprising Stat About Millennials & Bank Branches

Personal Finance

The Surprising Stat About Millennials & Bank Branches

The Surprising Stat About Millennials & Bank Branches

Millennials, the generation hooked on mobile devices, are almost as likely as any other age group to visit a brick-and-mortar bank, suggesting that branch banking isn’t quite yet doomed to obscurity, a Bankrate.com survey found. The results show that today’s 20- and early 30-somethings are nearly as likely as their older counterparts to have visited a bank branch... Read More

5 Easy Money Resolutions for the New Year

Personal Finance

5 Easy Money Resolutions for the New Year

5 Easy Money Resolutions for the New Year

If you find yourself making the same money mistakes over and over, 2016 can be a great opportunity to rebrand. Whether you need to pay off credit card debt, save more for retirement or improve your credit, these simple money resolutions are a great place to start. Get those pencils ready because it’s time to take... Read More

72% of Americans Believe Their Finances Will Improve in 2016

Managing Debt

72% of Americans Believe Their Finances Will Improve in 2016

72% of Americans Believe Their Finances Will Improve in 2016

Debt, expenses and retirement planning can make dealing with your finances seem daunting. But most Americans feel optimistic about their budget, with 72% saying they’ll be in better financial shape next year, according to an annual survey by Fidelity Investments. (The survey included responses from two random samples of U.S. adults interviewed by phone between Oct. 15 and 25.) Among... Read More

How One Man Paid Off His $255K Mortgage in 3 Years

Mortgages

How One Man Paid Off His $255K Mortgage in 3 Years

How One Man Paid Off His $255K Mortgage in 3 Years

Most people aspire to buy a house by age 30, let alone pay off the mortgage. But a Canadian man named Sean Cooper managed to do both of those things in only three years. In 2012, Cooper, who is 30, purchased a home for CA$425,000 or about $313,000 in Toronto. He took out a mortgage for CA$255,000 or $188,000, CBC reports, with a plan to get out... Read More

How Much Money Does It Take to Feel Safe?

Managing Debt

How Much Money Does It Take to Feel Safe?

How Much Money Does It Take to Feel Safe?

When I heard the question, “How much money is enough to make you feel safe?” on Open Account, SuChin Pak’s podcast about money and life, it made me wonder how much that number was for my parents, who used to switch to Vietnamese when talking about overdue bills in front of their English-speaking kids. When... Read More

Will Having a Mortgage Improve My Credit Score?

Credit Score

Will Having a Mortgage Improve My Credit Score?

Will Having a Mortgage Improve My Credit Score?

Until the Fair and Accurate Credit Transactions Act was signed into law in 2003, Americans weren’t entitled to free annual credit reports. And 24 years ago, when I began my career in consumer news, you couldn’t see your credit score at all, at any price. Consumer access to credit reports and scores is a good thing. After all, if... Read More

There Are 6 Kinds of Borrowers: Which One Are You?

Managing Debt

There Are 6 Kinds of Borrowers: Which One Are You?

There Are 6 Kinds of Borrowers: Which One Are You?

Most Americans have only one kind of debt, if they have any at all, according to a new report from the Urban Institute. By analyzing five years of credit-report data of more than 5 million Americans, researchers identified many trends among U.S. debtors, including the most common kinds of borrowers. About 89% of consumers with... Read More

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