Kiara’s Story: Maybe Money Can’t Buy Happiness, But It Can Buy Security
Meet Kiara, who lives in Taylor, Michigan with her 11-month-old daughter and her two young cousins. What do you do? I don’t have a job. I take care of my daughter and my two cousins because I have a kinship guardianship for them. One is my biological cousin and the other is his half-brother. Their…
Read MoreWhy isn’t my credit score improving?
I’ve been paying my bills every month on time and nothing changes on Credit Karma. I feel like I’m stalking the app. What should I do? Submitted by Michelle S. Congrats on paying your bills on time! Can we just celebrate that for a moment? What Impacts Your Credit Score Paying your bills will not…
Read MoreDo you recommend credit consolidation?
Do you recommend credit consolidation to improve scores and decrease debt? Submitted by Natasha P. There are two parts to this question, so let’s dig into them separately. Improving Your Credit Score Whenever a financial institution pulls your credit with the purpose of offering you a loan, your score may be affected. Closing a credit…
Read MoreHow many credit cards should I have?
“Hi Saundra! As someone who is getting her credit back in order, I want to be wise about applying for credit cards. I have two and working hard to keep them both under 30% utilization. I’m considering applying for one last card. How many credit cards is too many?” Submitted by Laurin O. There are…
Read MoreHow can I get a loan for a cheap used car?
Hello, Saundra! How do I go about finding and choosing a certain type of loan (if one exists) that would enable me to quickly buy a cheap used car (around a couple thousand) that I could be able to pay back (with no job/income) with only the money I have saved from last semester’s student…
Read MoreHow do you balance debt and savings? Here’s what our research found.
If you’re paying down debt, saving money may be a low priority for you. After all, you’re probably paying interest on your debt every month, so paying off your debt more quickly means keeping more money in your pocket long-term. It’s harder to save when you have debt Our research found that Savers with a…
Read MoreI just completed a chapter 13 bankruptcy. Can I apply for a personal loan?
“Hi, I just completed a chapter 13 bankruptcy and would like to know if I can apply for a personal loan. Thank you.” Submitted by David N. Thanks for your question about life (and credit) after bankruptcy. This is a common situation and the good news is that getting Chapter 13 debt relief is not…
Read More“Sharing is Caring” – Does that Apply to Bank Accounts?
Ah, opening a joint bank account or credit card – so easy to do, yet so hard to untangle if things don’t go as planned. Once you open a joint account, the money that was “yours” is now “ours.” That’s a big step for any relationship. Make sure you’re on the same page about how…
Read MoreHow to Get the Best Rate on a Loan
If you need money for the short or long term, it’s important to remember that not all loans are created equal – and the price you pay for that money (in fees and interest) may vary dramatically. What do you need? Before shopping around for loans, you should know how much money you’re looking to…
Read More6 Steps for When Your Credit Is Denied
First, let’s start with the facts. There’s a widespread fallacy that a score determines whether or not you get credit. The truth is that lenders use a variety of factors to make credit decisions. These factors include your FICO scores, but also take into account your income, your employment history, and your credit history. This…
Read More