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Making a Plan to Get Out of Debt

Being in debt is painful, stressful, and takes a toll on every aspect of your life. According to a new CardHub study, The average American owes over $8,500 on their credit cards. If you have a spouse, it’s entirely likely you owe almost $20,000 at an average interest rate of 18.9%. You’re spending hundreds of dollars a month just to …

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Consumer Financial Protection Bureau Encourages Retail Credit Card Companies to Consider More Transparent Promotions

The Consumer Financial Protection Bureau (CFPB) today announced it has sent letters to top retail credit card companies encouraging them to consider using more transparent promotions. Many retailers use credit cards with deferred-interest promotions – offers of no interest for a set period if the promotional balance is paid in full by the end – to give consumers a financing …

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FTC Amends Complaint Against Invention Promotion Scheme Defendants

The Federal Trade Commission has amended its complaint against the operators of an invention-promotion scheme, World Patent Marketing (WPM), that allegedly deceived consumers and suppressed complaints about the company, including by threatening dissatisfied customers with criminal prosecution. According to the FTC’s original complaint, filed in March 2017, consumers paid the defendants thousands of dollars to patent and market their inventions …

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How to understand special promotional financing offers on credit cards

Many retailers offer special promotional financing for big purchases through deferred interest offers. These offers promise people that they won’t be charged interest during a promotional period, if they pay their promotional balance in full by the end of the period. Consumers may find the costs of deferred interest less transparent. Recently, a major U.S. retailer announced it will no …

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When Is DIY a Bad Idea?

In today’s culture, DIY (shorthand for “do it yourself”) is a mantra that more and more people are adopting. Not only does taking on projects yourself often save you money when compared to hiring someone to take care of them but also fills you with a sense of pride and independence once you complete the job. Additionally, with plenty of …

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Don’t Pay Your Student Loan? Get Sued and Lose Your House

If you were owed $137 billion by eight million people who showed little or no evidence that they ever planned to repay, you would probably take drastic measures to recoup that money. That’s the perspective of the U.S. government with respect to student loans. The dollar total of defaulted student loans has reached $137 billion with no sign of slowing …

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It’s Not Too Late to Spring Clean Your Finances

Spring cleaning isn’t just for decluttering your home. You can take advantage of the changing seasons to clean up your finances and make sure you know where you stand.  These steps can help you clean up your financial life as you work towards your goals.  Here’s a few ways to get started spring cleaning your finances: Request a free credit …

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Pay Yourself First to Grow Your Savings Automatically!

One of the best ways to avoid dipping your fingers into your savings (especially your emergency fund for non-emergencies) is to automate your savings accounts so that your money flows through your personal economy without much interference from you. When you automate your savings accounts, you can force yourself to practice financial discipline and work toward financial freedom. Pay Yourself …

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Housing – Supply Down, Prices Up

Since the depths of the Great Recession in 2008, the housing market has struggled to regain its footing. There always seems to be a market imbalance that prevents solid growth. Initially, it was the tidal wave of mortgage failures that triggered a collapse in values and oversupply of homes. Currently, an undersupply of homes and rising prices are throttling a …