To understand how to protect your home with homeowners insurance, it's important to know what coverage it provides and how it safeguards your most significant investment. Typically, it safeguards your home and personal belongings from damage or theft and shields you from legal liability if someone gets injured on your property. However, to ensure full …

Spam phone calls are the top complaint received by the Federal Communications Commission (FCC), and understanding how to stop spam calls is crucial. These calls can originate from legitimate sources, but more often than not, they come from spam, frequently delivered through robocalls—pre-recorded or autogenerated voice messages. Spam calls are particularly troublesome because they often …

When you fall behind on your car payments, your lender could deem your loan to be in default. More U.S. consumers are facing this situation. According to Cox Automotive, default rates in April 2024 were 27.3% higher than in April 2023. Additionally, auto loan delinquencies increased from 2.23% in Q1 2023 to 2.71% in Q1 …

A 401(k) is a tax-advantaged retirement account that may be available as an employee benefit through your employer. This type of account can help grow your money over time—and your employer might match some or all of your contributions. A 401(k) can help you build your nest egg, but there are some downsides to consider. …

Financial aid is a type of funding that helps college students and their parents afford the cost of higher education. Understanding financial aid and knowing how to secure it can make college more affordable. Types of Financial Aid Need-Based Financial Aid Need-based financial aid is determined by your financial need. Federal student aid and some …

High-interest credit card debt can undermine even the best financial plans. According to Experian, U.S. consumers average $6,501 in credit card debt. However, if your debt exceeds $20,000, you may feel overwhelmed. But don't despair; there are actionable strategies to pay off $20,000 in credit card debt and regain financial stability. Setting Concrete Goals Begin …

Paying off debt is generally seen as a positive financial move. However, it can sometimes lead to an unexpected drop in your credit score. Understanding why paying off certain debts lowers your credit score is crucial for effective financial management. Understanding Credit Utilization Ratio The credit utilization ratio is a significant factor in your credit …

Do you have debt that keeps you up at night? Learning about the statute of limitations on debt collection might help. This legal deadline limits the time a debt collector can sue you over debt. However, this timeframe varies depending on your state and situation. What Is a Statute of Limitations on Debt? The statute …

In today's financial landscape, understanding credit scores is crucial. One key factor in managing your credit score is debt repayment. Let's explore why paying off certain debts raises your credit score and how you can strategically improve your financial health. The Role of Debt in Your Credit Score Your credit score is a reflection of …