Personal loans
Make these money moves before the Fed hikes rates again
Chairman of the Federal Reserve Jerome Powell (left) meets with President Joe Biden in the Oval Office on May 31, 2022. Saul Loeb | AFP | Getty Images The Federal Reserve is again poised to raise interest rates in an attempt to slow down the highest inflation in four decades without pushing the U.S. economy […]
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‘Buy now, pay later’ loans make it tough to get a handle on your credit
Payment history often not reported BNPL companies generally don’t report to the credit-scoring companies when consumers use these loans. That makes it a challenge for a lender to know how many loans a consumer has outstanding. “That makes a big difference in terms of how much you should loan,” said Kenneth Lin, CEO of fintech […]
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Recession is ‘likely,’ former SEC chief economist says. Here’s his advice for how to prepare
Larry Harris Source: Larry Harris To tame the recent inflationary spike, the Federal Reserve signaled it will continue to raise interest rates. When rates are high, consumers get a better return on the money they stash in a bank account and must shell out more to get a loan, which can trigger them to borrow […]
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Gas prices just hit a new record high. Here are a few ways to cut down the cost
As the summer driving season nears, gasoline prices show no signs of slowing down. The national average for unleaded gas hit a new high of $4.59 per gallon Thursday, according to AAA. For the first time ever, the average price was $4 per gallon or above in all 50 states this week, AAA data shows. Last year at […]
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Americans are more stressed about money than ever, and it’s hurting our mental health
Americans are more stressed about money than they’ve ever been, according to the American Psychological Association’s latest Stress In America Survey. “Eighty-seven percent of Americans said that inflation and the rising costs of everyday goods is what’s driving their stress,” said Vaile Wright, senior director of health care innovation at the American Psychological Association. More […]
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Buy now, pay later is not a boom, it’s a bubble, Harvard researcher says
Most people love the convenience of buy now, pay later. Since the start of the coronavirus pandemic, installment payments have exploded in popularity along with a general surge in online shopping. Initially, spreading out the cost of a big-ticket purchase — like a Peloton, for example — just made financial sense, especially at 0%. Now, 4 in […]
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Buy now, pay later will soon affect your credit score in the UK
Buy now, pay later giant Klarna says it will start reporting data on customers’ usage of its products to credit bureaus in the U.K., gearing up for incoming regulations aimed at reining in the sector over fears it is putting young people into debt. Starting June 1, the Swedish fintech firm will share information on […]
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How to teach your kids to have a healthy relationship with money – even if you didn’t
Many parents intend to teach their children to have a healthy relationship with money but end up falling short — even though a majority say personal finance lessons are best taught at home. Some 83% of adults say parents should teach their kids about personal finances, according to a CNBC + Acorns Invest in You survey. […]
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Survey of 30 market strategists reveals when they think the next U.S. recession will begin
CNBC International asked 30 high-profile market strategists when they see a recession for the world’s biggest, most capitalized economy. Source
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88% of adults support requiring personal finance education in high school, survey finds
Most adults in the U.S. support guaranteed access to personal finance education for high school students. Eighty-eight percent of adults surveyed by the National Endowment for Financial Education said their state should require either a semester or year long personal finance course for graduation. The survey of 1,030 adults was conducted in March. More from […]
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