Interest plays a role in almost all aspects of personal finance, including savings, credit, and loans. Interest is a percent of the total that’s added to what you owe or what you own. You earn interest by keeping money in a bank account, purchasing a bond, or making other investments. You pay interest when you
The cost of a degree is so much more than a single bill—you need to factor in where you’ll be living, how you’ll get from point A to point B, and how you’ll satisfy your hunger for food and fun. Each collegiate expense can be put into the category of either fixed or variable. Fixed
Credit cards aren't for everyone, but if you decide to get one, make sure you choose a credit card that works best for you. Shopping with a credit card is a snap, but shopping for the card that’s right for you is another matter. Ask yourself these questions: Why do you need a credit card?
Bankruptcy is a tool that can help you find financial stability—but only as a last resort. Understanding Bankruptcy Congress created the Bankruptcy Code, a breakdown of ways a debtor can plan to get out of debt when their creditors are trying to collect. The option to file for personal bankruptcy is there to help a
Credit doesn’t have to be a difficult concept for kids to grasp. In fact, a lot of the protocol backing credit usage is fairly relatable to kids of all ages. But that’s just it, not all ages are capable of understanding the same credit concepts. Breaking up the concepts throughout the life of an aging
If you’ve got student loan debt, you’re not alone. There are more than 43.6 million borrowers with student loans, and an average balance of around $38,000 in federal and more than $40,000 in private loan debt. Paying back your balance—no matter the amount—can feel overwhelming. Focus first on finding a repayment path that works for
A lot of people think that net worth is a fancy way of saying how much money someone has, but this isn’t necessarily true. Net worth isn’t just the amount of money that you have or make; it’s actually all of your current assets (cash, real estate, etc.) minus your liabilities (debt, mortgages, expenses, etc.).
