Finance

Taking advantage of student loan forbearance

Taking Advantage of Student Loan Forbearance

By | Articles, College Life, Finance | No Comments
On March 27, 2020, the president signed the CARES Act into law. As a result, loan holders provided student loan forbearance for millions of accounts. Ordinarily, a forbearance suspends monthly payments yet still accumulates interest. Under the CARES Act, interest on student loans will not accrue. The setup grants financial relief for students across the entire United States. While the CARES Act helps tremendously, there are other tactics you can use to manage your student loan. Knowing all of your options, and creating a plan, will help you get ahead. How to pay off a student loan quickly First and...
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How to Apply for COVID-19 Financial Assistance

How to Apply for COVID-19 Assistance

By | Articles, COVID19, Finance | No Comments
There are multiple programs for COVID-19 financial assistance. Below is a list of resources available nationwide. Food and nourishment Last month, the United States Department of Agriculture set new COVID-19 financial assistance flexibilities in all 50 states and territories. It was to ensure that families who need food can get it during the national response to the Coronavirus. Additionally, the USDA partnered with the Baylor Collaborative on Hunger and Poverty, McLane Global, PepsiCo, and others to deliver more than 1,000,000 meals a week. Families can receive prepackaged meals, as well as fresh produce, depending on their location. For more information on nourishment...
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These Refinancing Opportunities Will Help Your Wallet

Refinancing Opportunities to Help You Get Ahead

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Because of the drop in rates, the economy presents many refinancing opportunities. Here's what you should know before you change the terms on your home, auto, boat, or RV loan. Refinancing opportunities are high across the board Since the onset of the Coronavirus, the government has developed ways to help households and businesses in need. Working with the Federal Reserve, they not only lowered interest rates but also set guidelines for future processes. In comparison to last year, the numbers are down as much as a few points. It results in great news for those looking to reset the terms of...
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Will a HELOC Strategy Help With Lost Funds?

Leveraging your home’s equity with a HELOC

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During the past weeks, the number of unemployment claims reached over 22 million. Americans continue searching for ways to recoup funds after suffering from lost work. As an answer to some, unlocking the hidden potential of their home has been the way to go. Could a HELOC strategy work for you, too? View all of the considerations to the process below. What is a HELOC? Keep in mind, HELOCs are different than Home Equity Loans. As part of a HELOC strategy, borrowing is flexible and functions as a revolving line of credit. Home Equity Loans, on the other hand, have...
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The Best Uses for Your Stimulus Check

How To Spend Your Stimulus Check For Fiscal Responsibility

By | Articles, COVID19, Finance | No Comments
The IRS has already disbursed the first round of Economic Impact Payments. Otherwise known as the stimulus check, most people will not need to take any action to receive it. With an expected influx of cash coming, how should you spend your stimulus check? The debate over how people should spend their stimulus checks While there is not a current banking crisis, people all over the world are still adjusting to the new normal. Many Americans have already filed for unemployment or experienced a reduction in their work hours. Non-essential workers must stay at home, creating different needs than when they...
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How to Recognize Emotional Spending Triggers

How To Defeat Emotional Spending Triggers

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When you're having a bad day, do you ever go to the store for a pick-me-up? Some people prefer coffee, while others reach for the chocolate. How about a new pair of shoes? Our feelings affect our purchasing habits, and sure enough, there are a ton of emotional spending triggers out there. Are you able to recognize when you're under a spell? Discover how to nix impulse and emotional spending triggers for good. Read all of our tips below. Which emotional spending triggers happen the most? When it all boils down, emotional spending occurs because of three main things: -...
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An Inactive Credit Card is No Big Deal, Right?

An Inactive Credit Card is No Big Deal, Right?

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You decided to get out of debt a long time ago. You're currently watching what you spend and choose cash over any other form of payment. It's been months since you swiped. An inactive credit card is no big deal, right? Reopening an inactive credit card If your credit card is on the line of cancellation because of inactivity, call your credit card issuer if you wish to keep it open. Keep in mind, once an inactive credit card closes, most issuers won't reopen it. They are more likely to insist on establishing a new line of credit under updated...
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What Do I Do With My Tax Refund?

How to Spend Your Tax Refund Wisely

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The average tax refund ranges from $2,300 to $3,200. Although the figures vary depending on the state, Floridians are one of the highest receivers of cashback. No matter where you live, you've probably asked yourself the same question. How do i spend my tax refund wisely? Find out four financially smart options below. I filed my taxes, now what? You found the right tax preparer and filed your taxes. What happens next? More importantly, when should you expect your tax refund? Taxpayers who claim the Earned Income Tax Credit or the Additional Child Tax Credit may experience a refund hold....
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A Debt Settlement Agreement Could Have Tax Consequences

A Debt Settlement Agreement Could Have Tax Consequences

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More than 189 million Americans have credit cards, and it seems that accumulating debt is a part of life. What if you were in a financial bind, and you wanted to write it off? Could a debt settlement agreement be a solution? The answers are conflicting. Some say a debt settlement agreement can resolve your debt for pennies on the dollar. Others inform about the consequences. Below are some facts that you should consider before making a payoff. Is it bad to take a settlement on debt? Debt settlement is a practice that allows you to pay a lump sum...
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Reasons You Should Avoid a Friendship Loan

Reasons You Should Avoid a Friendship Loan

By | Articles, Finance, Lifestyle | No Comments
We all want to be good friends. However, agreeing to a friendship loan usually comes with a slew of problems. Below are five reasons to decline when your friend asks for a loan. 1. Lending money to a friend could damage your relationship. Lending money to a friend could damage the friendship if the loan proves to be unsuccessful. The same goes for cosigning. Once you become contractually involved, any friendship loan that goes bad will be your responsibility. After lending cash to a friend or family member, 21% say their relationship with the borrower failed. It's a sad statistic, and...
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