As the outlook for the economy becomes brighter, consumers are becoming more confident in their financial situation and less cautious with their spending. This changed perspective can lead to reckless consumer spending, and consequently more credit card debt. While spending more than you make is usually unsustainable, sustainability depends on your income, expenses and other personal circumstances. A recent article on[...]
Paying off debt can seem like a monumental task that may never be complete. However, getting out of debt is possible with a little bit of discipline and financial skill. By spending less money than you make and following the five steps outlined in the Equifax Finance Blog’s recent article, “ Ask Ilyce: What Are the Best Ways to Pay Down[...]
Many Atlantans who are saving for retirement but have credit card debt may consider using those retirement savings to pay off the high-interest debt. According to data from the Federal Reserve, the average American household has $15,480 worth of debt, while more than 77 million Americans have debt in collections. With such a staggering amount of people in debt, it’s no[...]
According to a recent report from RealtyTrac®, the nation’s leading source for comprehensive housing data, 96 percent of the housing markets in the United States are still affordable for recent college graduates with student loan debt. However, it was also noted in the study that college graduates with loan debt will need a 34 percent higher income to purchase a[...]
If you’re considering purchasing a new home in metro Atlanta and will need a loan, it’s important to make sure you’re aware of your credit score and the factors that comprise it. One of the many important components that make up your credit score is your debt-to-credit ratio, also known as your credit utilization ratio. A debt-to-credit ratio is simply the[...]
The Equifax Finance Blog offers advice to those looking to pay down their debt in the New Year in preparation for an Atlanta mortgage in the recent article, “ Tips for Paying Off Debt in 2014.” The article recommends first making a list of all of your debt and checking your list against your credit report to be sure that you’ve remembered[...]
With unemployment rates still high, it’s important to build an emergency fund when times are good so that you will have a cushion to fall back on if times ever get bad. Experts recommend an emergency fund to cover about seven months of expenses to avoid falling into debt in the event that you experience job loss. Many experts recommend an[...]