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With rising inflation rates in the United States, Americans increasingly rely on credit cards to cover their expenses. However, one of the growing effects of inflation is a significant increase in credit card balances, which creates the risk of consumer financial stress due to both inflation and mounting debt. Here are several tips for managing your credit cards during this inflationary period.

With over 139.3 million members in the U.S. (NCUA, 2024), credit unions are a significant pillar within the financial system. Choosing the right credit union in Colorado is a significant financial decision. Your choice will influence your access to credit union loans, savings growth and much more. With multiple options available, it's essential to undertake a detailed evaluation to select the best credit union in Colorado.

It’s important to monitor your financial goals throughout every stage of life. And being in your 40s is no different. You may have new financial responsibilities to consider and investments to protect, which can change the way you spend your money every month. Prioritizing these financial goals will help you and your loved ones find success later in life. Use this milestone guide to get your finances into shape.

The automotive industry is going electric, and consumers are slowly shifting towards electric vehicles to save money on gas. Some of the most established automakers in the country have released fully electric vehicles (EVs) that run on electricity instead of fuel and hybrid vehicles that use a combination of the two. These vehicles dramatically reduce our impact on the environment to offset the effects of climate change, but they can also help you save money on transportation. If you are in the market for a new car, learn about the potential benefits of driving an electric vehicle.

U.S. homeowners have accumulated significant home equity in recent years, with $11.5 trillion in taxable equity as of June 2024 (ICE Mortgage Monitor, 2024). This surge presents an opportunity to create liquidity by tapping into their home equity via a cash-out refinance.

Adopting the right loan repayment strategies is key to debt management. Whether you are paying off a mortgage, car loan, or personal debt, a good plan will come in handy. Most of the time, the goal is to stay on track while minimizing the overall costs. A powerful tool that can accelerate success in this area is an amortization schedule. This article will discuss how various loan repayment strategies can work and why an amortization schedule is essential for effectively managing different types of home loans and other debt.

Can you pay rent with a credit card? Short answer: yes. Absolutely, but only if your landlord or a third-party processor will take the plastic and you are prepared to shoulder—or cleverly avoid—the fees. Roughly 22% of U.S. renters already put monthly housing costs on debit or credit cards, according to a 2024 payment-trends study by property-tech firm Zego (Salmonsen, 2024). That slice is growing because tenants want smoother cash flow and richer rewards, while landlords crave on-time payments. Still, every swipe passes through a maze of surcharges, interest rates, and utilization limits. Before you tap “Pay,” you need a plan to ensure you have a smart credit card management strategy in place.

Imagine a world where managing your finances is as simple as a few clicks. A checking account is the cornerstone of this financial convenience. If you need a way to handle day-to-day expenses, a checking account can simplify your life. It’s a convenient way to handle your everyday transactions. Are you wondering what is a checking account? Considering its importance for personal finances, let’s explain.

In Q3 2024, Americans spent 11.3% of their disposable income on household debt payments (St. Louis Fed, 2024). Still, some households suffer massive debts, using over 50% of income to service debt. When your debt payments consume too much of your monthly income, lenders view you as a riskier borrower. This results in unfavorable loan terms, higher interest rates, or loan denials. Understanding how to improve your debt-to-income ratio helps you qualify for better financing options. In simple terms, your debt-to-income ratio (DTI) computes the percentage of your income that goes toward paying debts each month. In this article, we’ll explain how to compute your DTI ratio, what is a good debt-to-income ratio, the best debt-to-income ratio for various loans and strategies for lowering it.

Just like you, fraudsters love the holidays. They know you’re busy, distracted and full of holiday cheer. All which makes it even easier to fall for their gift-wrapped scams that are even more convincing, personalized and automated thanks to AI. To help you stay safe during the holidays, and year round, we’ve unwrapped the most common holiday scams along with some practical safety tips. One thing to keep in mind is that financial institutions typically follow information security guidelines and never reach out to ask for personal or sensitive information. If you get a request for your banking username, password, account number, routing number or your complete Social Security number, be very suspicious. Contact your financial institution via a number you’ve verified from a trusted source like a monthly statement, your financial institution’s app or its official web site.

Picture this: You’re finally feeling settled in your home, but something keeps nagging at you. Rates have significantly dropped since you locked your mortgage, or you’d love a shorter loan term to pay off your house sooner. This is where refinancing comes in. But how quickly can you refinance a mortgage? The answer depends on several factors. Read on for variables that affect the timeline, tips to expedite the process, and mortgage refinance options at credit unions.