In Debt we Trust?

I came across a statistic the other day that gave me pause and made me reflect upon what so many people are doing wrong when it comes to their finances.

According to recent surveys, about 50% of Americans die completely broke.

Even worse, most people pass away not only with a net worth of zero but addled with significant debt. In many cases, that debt obligation is then ...

Continue Reading →

Using Dave Ramsey’s Debt Snowball method to pay off your credit cards.

Amid our current rosy good news of stock market surges and economic growth, there sits an extremely prickly thorn: high credit card debt. In fact, the levels of U.S. consumer credit cards and other personal debt have reached levels not seen since the debt parade stopped in 2008 with the U.S. financial collapse.

In fact, as of 2016, our collective consumer credit card debt climbed to $927.1 billion, ...

Continue Reading →

Which city ranks highest for average credit card debt compared to income?

Which city in the U.S. is the most burdened with credit card debt? A new poll by CreditCards.com reveals just that, assessing the debt burden of the top 25 metropolitan areas. But the discussion goes further than just which city has the highest average credit card debt because a big factor in the study’s rankings include the median income in the area, showing the true disparity between debt and earnings. It also tabulates how many months it would take to ...

Continue Reading →

Citigroup partners with FICO to provide credit scores to its customers.

Up until only a few months ago, consumers were largely in the dark when it came to the credit score information that big banks and credit card companies used to make decisions about their own customers. But that all changed last November when the Fair Isaac Company, known as FICO, rolled out a program encouraging banks to provide free credit scores to their own customers. The initiative received a huge boost in legitimacy recently as Citigroup announced that they would ...

Continue Reading →