How to Pay Off Debt on a Budget

How to Pay Off Debt on a Budget

Many people see credit cards as a temporary solution when money is tight, but frequent use or careless spending can quickly create an overwhelming situation. Unhealthy budget planning and purchase habits can cause you to fall deeper into debt. This can feel impossible...
How Revolving Debt Impacts Your Credit Score

How Revolving Debt Impacts Your Credit Score

When opening a line of credit, you are taking on a financial responsibility to borrow money that you intend to pay back. A credit card can have a positive or negative effect on your credit score depending on how you use it.  If you are not careful, you may be on the...
Installment Debt vs. Revolving Debt

Installment Debt vs. Revolving Debt

In terms of borrowing, it is wise to have different types of credit to diversify your credit mix. This helps determine your creditworthiness, and may even help improve your credit score if you maintain your debt repayments. With credit comes debt in two primary forms:...
How to Reduce Credit Card Debt Without Hurting Your Credit Score

How to Reduce Credit Card Debt Without Hurting Your Credit Score

Credit card debt can be overwhelming, stressful, and can lead to poor financial health if left unchecked. High credit utilization and holding too many cards at once hurts your credit score, which can make balance transfer cards a risky solution to pay off debt.  If...
Can You Improve Your Credit Score with a Debt Consolidation Loan?

Can You Improve Your Credit Score with a Debt Consolidation Loan?

Financial planning has been a hot topic of discussion for many Americans coming out of the quarantine period with limited funds or smaller incomes. Struggling to pay off debt can lead to late payments and diminishing credit ratings. While maintaining a decent credit...