Simonskafar | E+ | Getty Images Incentives are coming back to the auto market, but high interest rates are weakening those deals for car shoppers. “Pre-pandemic, people would see a 0% financing for 60 months and think, ‘no big deal,’ because it was available everywhere,” said Jessica Caldwell, an insights analyst at Edmunds, an auto … Read more
Courtneyk | E+ | Getty Images Mortgages, currency exchange complicates a purchase While there may be similarities to the U.S. market when buying a home overseas, there are also unique challenges on the financial side of the purchase. Oftentimes, Americans buying properties abroad end up financing the transaction with cash outright, experts say. If you … Read more
Household savings are estimated to have declined for the third year in a row in FY24 as liabilities on account of interest towards housing and vehicle loans have continued to rise, but the trend could reverse in 2024-25 on account of the impact of RBI’s curbs on personal loan. The net household savings declined sharply … Read more
Shweta Jain, Founder, Investography, says “do not take the loan unless it is absolutely necessary. Do not take this just for splurging on something offhand. Take this as an option against your credit card loan because those work out quite expensive. Do take these as an option against personal loans. And, of course, pay as … Read more
Over time, higher costs and sluggish wage growth have left more Americans financially vulnerable, with many known as “ALICEs.” Nearly 40 million families, or 29% of the population, fall in the category of ALICE — Asset Limited, Income Constrained, Employed — according to United Way’s United for ALICE program, which first coined the term to refer … Read more
While the spring housing market has been plagued with low supply, high prices and spiking interest rates, would-be homebuyers are focusing on new construction. The reason? New homes have more incentives and availability than previously owned ones. “There’s more opportunity in new construction,” said Nicole Bachaud, a senior economist at Zillow Group. About 693,000 new … Read more
1. Borrowers with ‘runaway interest’ More than 25 million borrowers owe more than they originally borrowed in federal student loans because of accrued interest charges, according to the Biden administration. As part of this plan, those borrowers could get up to $20,000 of unpaid interest on their debt forgiven, regardless of income. Certain low- and middle-income … Read more
Taylor Swift performs onstage for the opening night of “Taylor Swift | The Eras Tour” at State Farm Stadium. Kevin Mazur | Getty Images Entertainment | Getty Images Revenge spending is not dead. Even as Americans owe $1.13 trillion on their credit cards, consumers are still willing to splurge on impulsive purchases. It’s a phenomenon also known as … Read more
Getting into college is one thing, staying in is another. Although college enrollment declines leveled off this year, the number of students who started but then withdrew has been on the rise, according to the National Student Clearinghouse Research Center. There are now more than 40 million students who are currently unenrolled. At the same time, roughly … Read more
Amid arguably the worst year to apply for financial aid, some colleges are implementing new strategies to entice students wary of the high cost. Vanderbilt University announced it is expanding Opportunity Vanderbilt to include full-tuition scholarships to students of families with an annual income of $150,000 or less. Meanwhile, Dartmouth also said it is nearly … Read more
