What’s Behind Most Personal Bankruptcies Today?

Sometimes events beyond your control can make even the best precautions inadequate, causing some people the necessity of filing for bankruptcy.

How Does Your Debt Compare?

Household debt continues to accumulate but not for the reason you may think. While spending is at an all-time high, so is the true debt builder: Interest. Interest rates vary across different types of loans, but the sheer amount of the loans makes the interest accumulate to staggering amounts.

These Numbers Should Make You Mad and Get You Motivated

It seems like a national epidemic… One of the biggest challenges that people face today is dealing with their personal debt. According to NerdWallet the average American family has $16,748 worth of credit card debt, $176,222 worth of mortgage debt, plus an auto loan debt of $28,948. All of this is on top of $49,905 worth of student loans (almost $25,000 per adult)!

According to Federal Reserve data in 2014 the Median household income was $53,718 and it rose to $56,516 in 2016. Unfortunately, that is the most recent data we have, but even if median household income rose to $60,000 in 2016 that is a lot of debt to be carrying on that amount of income.

Understanding New Student Loans

It’s no secret that the United States has some of the largest amounts of students who attend a college or university. According to NationMaster almost 73% of American High School students go on to college within 5 years of graduation.  However, it is becoming increasingly difficult to finance a four year degree or beyond. In 2011, two-thirds of […]

The Quickest Ways to Pay Off Your Student Loan

Finishing university and starting a new phase in your life is an exciting time when you leave behind the wild days of your student life and embark on a career. This also is the time when reality hits you and you realize that you have a hefty student loan to repay. It can be disconcerting to look […]