WASHINGTON (AP) — The pandemic still has Americans easing off the plastic.
U.S. consumer borrowing rose in June after three months of declines but the key category of credit card debt...
WASHINGTON (AP) — U.S. consumers reduced their borrowing for a third straight month in May as the millions of jobs lost because of the coronavirus pandemic made households less eager to take on...
WASHINGTON (AP) — Americans gave their credit cards a real workout this past holiday season.
The Federal Reserve said Friday that borrowing on credit cards rose by the largest amount in more...
WASHINGTON (AP) — U.S. consumers slowed their borrowing in November, mainly by piling up less credit card debt.
The Federal Reserve said Wednesday that consumer credit rose by a seasonally...
NEW YORK (AP) — The children are playing with their gifts, the new TV is up on the wall, and that puppy has a brand-new cashmere-lined bed, when another gift arrives in the mail. This one isn’t...
Shatoria Smith was tired of the $5,000 in credit card debt she felt was blocking her from reaching her financial goals. She couldn’t see an easy path to being debt-free, so she drew herself a map...
Fear can consume you. The anxiety of the unknown can drive you to pull the blanket over your head, whether you're worried about a rustling sound outside your bedroom window or that you won't have...
Are student loans good debt that can open the door to a career or an insurmountable burden? Is all credit card debt a sign of reckless spending, or can it be a smart way to cover an expense? In...
WASHINGTON (AP) — Consumer borrowing rose at a slower pace in February as the increase in auto and student loans was the slowest in eight months.
NEW YORK (AP) — Tackling money goals one at a time cost financial literacy expert Barbara O'Neill at least $1 million.
That's how much O'Neill, a distinguished professor at Rutgers...
It's a dilemma many 20-somethings face: You badly want to travel the world. But if your bank account could talk, it would say, "Are you kidding?"
When you're just starting out, even a weeklong vacation might seem like a one-way ticket to credit card debt — especially if you have a modest income or lack access to paid time off. But with the right moves, you can budget for travel without going into the red.
START SAVING
For Krista Aoki, the key to avoiding debt while traveling is simple: Save.
Your home equity could keep you afloat in retirement or bail you out in an emergency — but not if you spend it first.
WASHINGTON (AP) — Americans increased their borrowing in June at the slowest annual pace in three months as the level of credit card debt fell slightly.
The Federal Reserve said Tuesday that consumer debt rose a seasonally adjusted $10.2 billion in June from the prior month to a total of $3.91 trillion. Consumer borrowing increased at an annual rate of 3.1 percent in June, the slowest annual gain since March.
WASHINGTON (AP) — The Latest on President Donald Trump's financial disclosure report (all times local):
6:30 p.m.
Vice President Mike Pence has released his annual financial disclosure, reporting a pension plan from the state of Indiana worth between $500,000 and $1 million and credit card debt between $15,000 and $50,000.
WASHINGTON (AP) — Americans increased their borrowing by $11.6 billion in March as a big increase in the category that covers auto and student loans offset the largest monthly drop in credit card borrowing in more than five years.
It's always good to pay off your credit card debt, but now may be a better time than ever to do so.
Americans' debt levels have been growing and interest rates are rising — a combination that could put consumers in a bind if they carry a balance on their cards.
"Ask Brianna" is a column from NerdWallet for 20-somethings or anyone else starting out. I'm here to help you manage your money, find a job and pay off student loans — all the real-world stuff no one taught us how to do in college. Send your questions about postgrad life to askbrianna@nerdwallet.com.
___
Q: I'm overwhelmed by student loan and credit card debt, and I'm embarrassed to admit it to my partner. Should I come clean?
American consumer debt has rebounded to prerecession levels, and the category that includes credit cards hit a record $1.02 trillion this summer. Maybe your credit card debt has crept up too, setting your own personal record.
It makes sense to pay particular attention to your credit cards, because their interest rates are typically higher than other types of debt, like student loans or a mortgage. Carrying balances on this more costly debt may derail goals such as building a retirement fund.
After Emilie Burke, 24, graduated from Princeton University in 2015 and moved to Baltimore, her expenses began piling up.
"I had to put a down payment and security deposit on an apartment. I had to move. I still had to pay my cellphone bill," says Burke, who now lives in Fayetteville, North Carolina. She wrote about her experience on her blog, BurkeDoes.com, where she focuses on personal finance and self-improvement.
WASHINGTON (AP) — U.S. household debt reached a record high in the first three months of this year, topping the previous peak reached in 2008, when the financial crisis plunged the economy into a deep recession.
WASHINGTON (AP) — Consumers pulled back on credit card debt in January, leading to the smallest increase in consumer borrowing in more than four years.
Total borrowing rose $8.8 billion in January compared to an increase of $14.8 billion in December, the Federal Reserve reported Tuesday. It was the smallest monthly gain since borrowing only went up $7.6 billion in July 2012.
WASHINGTON (AP) — Consumers increased their borrowing in October at the slowest pace in four months as growth in credit card debt and the category that covers auto loans and student loans slowed.
Total borrowing rose $16 billion after a $21.8 billion increase in September, the Federal Reserve reported Wednesday. The October increase was the smallest since a gain of $14.5 billion in June.
"Ask Brianna" is a Q&A column from NerdWallet for 20-somethings or anyone else starting out. I'm here to help you manage your money, find a job and pay off student loans — all the real-world stuff no one taught us how to do in college. Send your questions about postgrad life to askbrianna@nerdwallet.com.
Q: I already have student loans to pay back, and I'm scared to take on more debt. Should I avoid using credit cards?
"Ask Brianna" is a Q&A column from NerdWallet for 20-somethings or anyone else starting out. I'm here to help you manage your money, find a job and pay off student loans — all the real-world stuff no one taught us how to do in college. Send your questions about postgrad life to askbrianna@nerdwallet.com.
Q: I feel overwhelmed by my student loan and credit card debt, and I have nothing saved. I don't want to even look at my accounts. How can I get past my fear and tackle my finances?
Many people who take out loans to pay off credit cards and other obligations wind up worse off, with more debt and more stress than before they applied. Some people, though, successfully use debt consolidation loans to turn a bad financial situation around.
Emilie Burke of Raeford, North Carolina, is among the latter. Burke, a recent college graduate, used a $6,000 personal loan from online lender Upstart to pay off some of the $13,600 credit card debt she incurred as a student.
Nonprofit credit counselors are the good guys in the debt relief industry, which is otherwise full to bursting with lies, scams and sketchy players.
That said, credit counselors need to acknowledge that their signature offering — the debt management plan — doesn't work for everyone.
Debt management plans are touted as an alternative to bankruptcy and an affordable way to pay back credit card debt. Borrowers make payments to the counseling agency, which then pays...