Personal loans provide fast, unsecured funds that can pay for anything from home repairs to medical emergencies. Instead of requiring collateral like a house or car, many lenders prefer applicants with strong credit and high incomes. But what if you don’t meet a lender’s requirements? People who don’t qualify for a personal loan have alternatives…
How to Help Loved Ones Deal With Debt
Juan Pinon, an electrical engineer in McAllen, Texas, struggled with credit card debt for years. It wasn’t until he confided in his sister that he began to turn things around. “It just so happened that one day I opened up to my sister, and she confessed to me that she had debt issues and was…
Will the IRS Tax Forgiven Student Loans?
By Joy Taylor From Kiplinger’s Personal Finance Question: Is forgiven student debt taxable? Answer: No, at least through 2025. As a general rule, debt cancelation income is taxable. But a 2021 law provides that most student loans forgiven from 2021 through 2025 are tax-free. President Biden’s plan to forgive up to $10,000 in student loans…
The Pain and Pleasure Principle
I don’t care much for pain. In fact, I’ll do almost anything to avoid it. I also know that pain can be a good thing. The human nervous system triggers a sensation of pain to stop us from doing something that might cause a severe injury and to let us know that something may be…
How to Manage Debt in Retirement
If not carefully managed, debt can shackle a retiree, but if carefully managed, debt can also be a powerful financial tool. You can make it work in your favor throughout retirement. However, if you want to make the most of debt advantages, and minimize debt advantages, you need to understand exactly how debt works, and…
Medicaid Help for Those Who Need Long-Term Care
By Elliot Raphaelson The Center for Retirement Research at Boston College (CRR) regularly reports on the needs of older Americans, including healthcare and long-term care. In this column, I’ll discuss some findings of a CRR research brief titled, “Who will have unmet long-term care needs and how does Medicaid help?” The brief states that 25…
My Action Plan for Saving and Spending
It is crucial to know where your money goes if you want to get your finances under control. The problem? That isn’t always obvious: Sure, you may keep track of your monthly bills. But what about your daily expenses? When you add up your out-of-pocket expenses, you might be surprised at how much you spend on…
Family Finances: What to Do With a Windfall
By Rivan V. Stinson From Kiplinger’s Personal Finance It’s a cliché, but it’s also true: Every cloud really does have a silver lining. That was hammered home for me after I was recently rear-ended in a car accident. I wasn’t hurt, but it was a frightening experience, and the amount of paperwork required in its aftermath…
Are You Making Mistakes While Trying to Get Out of Debt?
One of the best things you can do for yourself is to get out of debt. Besides feeling greater freedom without a constant financial burden hanging over your head, you also have the liberty to buy some things you have always wanted. Getting out of debt is not always easy, but it will be even…
Is a Line of Credit Right for Your Business Recession Plan?
September 17, 2022
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More than 90 percent of small-business owners are worried about experiencing an economic recession over the next 12 months, according to a June 2022 Goldman Sachs survey. Because lenders tend to tighten their lending standards during recessions, small-business owners may be looking for ways to secure funds before access to credit is possibly reduced. One…
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