Credit scoring models and factors that do/don’t influence your credit score are confusing concepts for many consumers, especially with recent changes to scoring practices (e.g., medical debt no longer factoring into credit scores). You probably already know of the major factors influencing your credit score – low credit utilization, on-time payment history, etc. – but what about the little-known factors that could also hurt or improve your score? Let’s take a closer look at 7 surprising things that can affect your credit score for better or … [Read more...] about Top 7 Surprising Things that Can Significantly Impact Your Credit Score
Earnin Review – How to Get an Advance on Your Paycheck
Did you know that consumers waste more than $34 billion per year on overdraft fees? This figure rivals Great Recession figures, though overdraft fees were cheaper back then (around $20 for banks and $15 for credit unions, compared to $30 for banks and $28 for credit unions nowadays). Since there is no benefit to paying overdraft fees – they’re just penalties for folks who overdrew their accounts to pay the bills before their next paycheck rolls around – it’s alarming to think about how much money individuals and families living paycheck to … [Read more...] about Earnin Review – How to Get an Advance on Your Paycheck
What to Do When You Are Faced with an Unexpected Hospital Bill
Did you know that more than 66% of all bankruptcies are related to health issues (medical debt or extended time off from work) and more than half a million families declare bankruptcy due to medical debt each year? These numbers have skyrocketed over the past several years as healthcare costs continue outpacing inflation – and wage growth – and people increasingly find themselves stuck with medical bills totaling thousands, if not tens of thousands of dollars. While your next hospital bill may not be the straw that bankrupted the camel’s … [Read more...] about What to Do When You Are Faced with an Unexpected Hospital Bill
Review of Drop App – Earn Cash Rewards While You Shop
There are plenty of personal finance apps and browser extensions designed to help consumers save more money on everyday and major purchases alike. However, few apps have the seamless user experience and popularity of Drop, a free savings app with more than 1 million users who have earned over 1 billion points and redeemed over $3 million worth of rewards since the app first launched. This flexible, intelligent mobile app functions as a consumer’s wallet-saver: by linking your credit or debit card to your Drop account, you could earn points … [Read more...] about Review of Drop App – Earn Cash Rewards While You Shop
Can a Divorce Hurt Your Finances as Much as a Recession?
Whether you’re just starting out in an entry-level career in your 20s or preparing for the final years of your career in your 50s, retirement is one of the most important financial goals anyone can have at any point in their adult lives. Marriage is also another goal that many people share, but unfortunately, research has shown that 40% of marriages will likely end in divorce. But, how much does divorce hurt your finances? This means your goals for marriage and retirement could potentially conflict with each other, as new research from … [Read more...] about Can a Divorce Hurt Your Finances as Much as a Recession?
Tally Review – An Automated Debt Manager in a Smartphone App
Note - I'm an affiliate of Tally. While all of the opinions are my own (like always), but I'll receive a small commission if you slick on a link and choose to sign up. These commissions help keep Money Q&A going. Wouldn’t it be great if there was a magical calculator that told you exactly how much you needed to pay towards what cards/loans in order to stretch your dollar furthest? Surprise: it already exists in the form of an automated debt management app called Tally. Commonly described as a “robo-advisor for credit card debt,” … [Read more...] about Tally Review – An Automated Debt Manager in a Smartphone App