Americans are still buried in credit card debt, but have plenty of options to start shoveling their way out.

Recent findings from the Federal Reserve revealed that Americans are still buried in debt even after the recession and financial recovery. In fact, as a nation we now have $884.8 billion of credit card debt, not to mention our rising student loan and medical debt. And while our credit card debt totals are down approximately 5% since last year, analysts point out that’s because so many people have defaulted on large amounts of debt, not that we’re paying it off. ...

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Andrew Jackson out, Harriet Tubman in on the $20 bill?

Pretty soon, we may be seeing a new face on the old, familiar twenty-dollar bill, thanks to the efforts of a campaign called Women on 20s. Since 1920, the likeness of President Andrew Jackson has graced the twenty, but the movement to replace him with a famous woman from American history has picked up steam – catching the attention of the White House and Congress. They’ve even voted on the most suitable replacement and Harriet Tubman was the top ...
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Right now is the best time in history to refinance for many homeowners…but if they wait, they’re sure to lose out.

A recent report published by the Washington Post revealed that 20 percent of American households with mortgages – about one million of them – are eligible and would benefit from refinancing in today’s low rate environment, but have failed to do so. The failure of homeowners to take advantage of a potential savings via refinancing – an estimated $45,000 average savings over the life of each loan – is something that’s leaving economists scratching their heads.

But there’s one thing for ...

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How the coming Fed rate hike will affect the average consumer – and how to best safeguard your finances.

In June, some very important people will meet to make some decisions that will reroute the trajectory of the U.S. economy. The “Fed,” led by Federal Reserve Chair Janet Yellen, will have one decision circled on their agenda that will affect millions of Americans: to raise interest rates.

A bump in the federal funds rate shouldn’t be taken as bad news. After all, we’ve enjoyed unprecedented historic lows since 2008, when the Fed slashed interest rates to buoy a sinking ...

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New study reveals that 1 in 10 American adults are “credit invisible.”

Every adult in the United States has a credit score, right? Not so fast, as recent studies show that a large percentage of the population actually are without a score at all, or have credit histories that are so sparse that they’re unusable. Those are the findings of a study released last week by the Consumer Financial Protection Bureau. The CHPB reported that an astounding 26 million adult Americans, or one in ten in the population, have no credit reporting on ...

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Men are from Mars, but women have better credit scores.

When it comes to men and women, which sex can claim top honors for their credit scores? A recent study by the credit bureau Experian revealed some interesting differences about men and women when it comes to managing their credit and knowledge about how scores and reporting work, and it may not be what you expected.

Making lending or credit decisions based on gender is illegal in the United States, so few bother to collect data and do comprehensive studies. But ...

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10 Statistics that show we have a long way to go to truly understand credit, debt, and personal finance.

1. According to the National Foundation for Credit Counseling, 60 percent of American adults had not reviewed their credit score and 65 percent had not reviewed their credit reports within the previous 12 months. Only 29 percent of adults had reviewed both their credit report and score in the last year, or just over 1 in 4.

2. The same study found that 54 percent of respondents erroneously thought that their credit scores could be found on a standard credit report.

3. ...

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