The Motley Fool

JANUARY 28, 2024

Image source: Getty Images If you're juggling credit card debt , you're not alone. Your credit score recently took a dive Maybe you added a lot to your debt pile during the 2023 holidays, and your credit score is now in the dumps. That gives you a decent chunk of time to get your debt paid off before that intro period ends.

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Debt 245

The Motley Fool

FEBRUARY 28, 2024

Image source: Getty Images The holidays are a popular time to rack up debt. Personal finance company Achieve found that 50% of U.S. consumers expected to take on debt to pay for their holiday purchases last year. But the longer that debt lingers, the more stressful and costly it has the potential to be.

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The Motley Fool

DECEMBER 3, 2023

Image source: Getty Images When high-interest debt feels like a giant weight on your shoulders, you may benefit from loan consolidation. Here, we'll tell you how it works and how to decide if consolidating your debt in 2024 is a good idea. That's the way high-interest loans work.

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The Motley Fool

JANUARY 12, 2024

Image source: Getty Images A personal loan can be used for almost anything you want. But just because a personal loan is a flexible funding option doesn't necessarily mean you should take one out for any reason. Here are some of the best and worst reasons to use a personal loan. in total interest.

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The Motley Fool

SEPTEMBER 2, 2023

Image source: Getty Images Personal loans are a pretty easy way to borrow money, and they come with some pretty convenient features. The payments are in equal amounts and spread over a set period (often a few years, but many of the best personal lenders will let you choose the term that works best for you).

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The Motley Fool

FEBRUARY 15, 2024

It's that time again when we're all buzzing with resolutions, and for many of us, improving our personal finances is at the top of the list. This is especially true for tackling one of the most common challenges we face: managing our debts. Think of debt as a puzzle that needs solving, not a shadow that follows you around.

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The Motley Fool

AUGUST 30, 2023

Image source: Getty Images Personal loans can be excellent financial tools to consolidate high-interest debt, pay for home improvements, or finance large purchases. But what if you consolidate your debts and then need money for a home improvement or something else?

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The Motley Fool

MARCH 1, 2024

Image source: Getty Images Many people are familiar with credit card debt -- either because they're carrying balances themselves or know folks who are. Credit card debt can be stressful because you're on the hook for monthly payments that eat away at your income. That could make it possible to get ahead of your debt more efficiently.

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The Motley Fool

MAY 15, 2024

The average American credit card debt is $6,501, according to research by The Motley Fool Ascent. And because of how interest charges add up, people who are in credit card debt often find themselves falling into a deeper and deeper hole. To be completely honest, this much credit card debt is a big problem.

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The Motley Fool

JANUARY 15, 2024

Image source: Getty Images If you have credit card debt, you probably already know you're paying a pretty high interest rate. By comparison, the average interest rate on a personal loan during the same time period was 12.35%. You haven't actually taken any meaningful steps to tackle the debt for good.

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The Motley Fool

SEPTEMBER 2, 2023

Image source: Getty Images As I've learned time and time again in my life, the best way out is usually through. This is even the case when it comes to paying off credit card debt. After paying off a big chunk of debt last year, I'm a fan of the "debt snowball" method. For the motivation Paying off debt is hard.

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The Motley Fool

SEPTEMBER 13, 2023

Image source: Getty Images Personal loans are an excellent way to get quick cash to fund a big purchase or pay off debt. If you're finding yourself unable to make your personal loan payments, you're not alone. Here are four options to consider if you're struggling to pay back a personal loan.

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The Motley Fool

JULY 8, 2023

Featured offers: compare interest rates for the best personal loan options here However, when the Fed raises its benchmark interest rate, the federal funds rate, it tends to make it more expensive for consumers to borrow. So it may be a good time to consolidate your variable-interest rate debt with a personal loan.

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The Motley Fool

SEPTEMBER 9, 2023

Image source: Getty Images Personal loans can be a great way to borrow money in certain circumstances, especially if you need to finance a large purchase or consolidate higher-interest debt. While many lenders offer personal loans for all types of borrowers, it's not a guarantee you'll be approved if you apply for one.

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The Motley Fool

JANUARY 18, 2024

Pay off debt with lower interest If you have a good credit score , 2024 could be the year to pay off your credit card debt faster -- by replacing it with lower-interest debt. Here are a few ways that you could get out of debt faster with lower interest rates in 2024.

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The Motley Fool

JANUARY 4, 2024

Image source: Getty Images A personal loan and a home equity loan have some important qualities in common. With both types of financing, you can often borrow a large amount of money so you can use the loan to pay for very expensive purchases, to consolidate debt, or to improve your home.

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The Motley Fool

MARCH 16, 2024

As part of this move, it announced it would wind down 13 global consumer franchises , reduce its workforce, consolidate operations, and streamline its business. The market has rallied impressively over the past several months, with the S&P 500 index reaching all-time highs that confirm a new bull market is underway in stocks.

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The Motley Fool

SEPTEMBER 23, 2023

Image source: Getty Images A personal loan is one option available to you if you need to borrow money. And as with pretty much all kinds of loans, you'll pay interest on the amount that you borrow. How could a personal loan make your financial life better? You would be debt free in. Here's why. in interest?

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The Motley Fool

JANUARY 25, 2024

Image source: Getty Images If you're coming away from the 2023 holiday season with a mountain of credit card debt , you're not alone. adults go into debt to pay for holiday expenses, according to NPR. The problem with holiday debt, though, is that the longer it lingers, the more it might cost you.

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Debt 130

The Motley Fool

AUGUST 15, 2023

Image source: Getty Images There's a reason personal loans tend to be popular with consumers. A personal loan allows you to borrow money for any purpose. You can use your loan proceeds to make repairs. A personal loan can make that possible, too. Need to fix up your car?

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The Motley Fool

AUGUST 17, 2023

Image source: Getty Images Having an emergency fund could spare you the cost and stress of racking up debt when a need for money arises out of the blue. At first, whipping out your credit card might seem like the best solution. But a personal loan could be a better choice for a couple of reasons.

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The Motley Fool

AUGUST 9, 2023

Image source: Getty Images Personal loans can be used for many reasons, including paying down debt or house repairs. Featured offers: compare interest rates for the best personal loan options here To better understand personal loans, let's take a closer look at a few of the most popular topics.

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The Motley Fool

JULY 7, 2023

credit card balances reached $917 billion, while personal loan balances hit $225 billion, according to TransUnion. But the interest rate you pay on a credit card balance may be a lot higher than the interest you're charged on a personal loan. In fact, you're not going to find a personal loan at 0% interest.

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Debt 130

The Motley Fool

JANUARY 22, 2024

Image source: Getty Images Getting out of debt is a common financial goal, but as anyone who's ever attempted it will know: It's much easier said than done. Here are some strategies you can utilize to create a debt payoff plan in 2024, including what factors to consider to make a plan that works for you. Learn more here.

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The Motley Fool

JUNE 21, 2023

Image source: Getty Images Personal loans can be a great way to borrow money. With a personal loan , you have flexibility regarding what you do with the funds the lender provides to you. Unlike credit cards , personal loans can come with pretty affordable rates. you were already paying on the loan.

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The Motley Fool

AUGUST 8, 2023

And even if your monthly auto loan payments are around $500 per month, that still may be uncomfortably high. Featured offers: compare interest rates for the best personal loan options here Keeping up with these expenses and a $500 automotive payment can be a lot to handle, so here are a few tips to help you manage your monthly payments.

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The Motley Fool

AUGUST 28, 2023

There are times when you may need to take out such a large loan, such as if you're funding home improvement or consolidating debt. But before you do, you need to understand how much your loan will cost you. So, what exactly are the monthly payments on a $25,000 personal loan ? 6.00% 10 Years $277.55 $8,306.15

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The Motley Fool

FEBRUARY 15, 2024

Image source: Getty Images Using a credit card regularly won't necessarily lead to debt. If you're sitting on a pile of credit card debt now, you're not alone. Carrying credit card debt has the potential to upend your finances. Here are a couple of steps to take to rid yourself of that debt for good.

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The Motley Fool

JULY 6, 2023

Image source: Getty Images Credit card balance transfers and personal loans can both be useful tools to help you get out of debt faster. In this article, we'll take a look at some of the most important things to keep in mind on your debt reduction journey. It typically ranges from 3% to 5% of the amount transferred.

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The Motley Fool

JULY 17, 2023

You have to insure it , maintain it, and pay off the loan you take out to buy it in the first place. But if you're buying a used car, you might be able to get away with a monthly auto loan payment as low as $250. During the second quarter of 2023, the average monthly car payment rose to $733, according to Edmunds.

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The Motley Fool

AUGUST 18, 2023

Featured offer: save money while you pay off debt with one of these top-rated balance transfer credit cards But either way, credit card debt is a problem. So if you're grappling with credit card debt, it's best to try to pay it off as quickly as possible. So a personal or home equity loan may be a better bet.

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The Motley Fool

JANUARY 5, 2024

Image source: Getty Images Like an unwanted guest, holiday debt can stick around for a lot longer than you'd like. Among Americans who went into holiday debt in 2022, one in three were still paying it off in December of 2023. That's what can happen if you only make minimum payments on your debt. Learn more here.

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The Motley Fool

MARCH 29, 2024

Let me be clear that having children is the best thing I've ever done in my life. If you have no emergency savings, though, then it's probably best to wait to have kids and build some first. Otherwise, you could end up with instant debt. Now it's not a secret that being in debt can be stressful. My first answer?

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The Motley Fool

JANUARY 24, 2024

Image source: Getty Images The start of a new year is a popular time to focus on personal finances. What are we going to do about all of our debt? If you feel like you're drowning in debt, you're no doubt in good company. trillion in debt, according to Ascent research. Of that, total credit card debt came to $1.08

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The Motley Fool

MARCH 15, 2024

Read more: we researched free tax software and put together a list of the best options here Far too many people do a quick calculation in their heads and decide their medical expenses cannot possibly be more than this amount. In order to be eligible, the home equity debt must have been used to improve, maintain, or repair your home.

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The Motley Fool

AUGUST 11, 2023

Featured offer: save money while you pay off debt with one of these top-rated balance transfer credit cards But there are situations where, sure, it might make sense to cover college expenses with a quick swipe of disposable plastic. (For You can even consolidate student debt onto a credit card. Credit card debt is no joke.

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The Motley Fool

MAY 9, 2024

Image source: Getty Images For many moms, juggling child-rearing, work, and household management is tough enough without the added burden of debt. Yet debt is a reality for many. In fact, in 2023, the typical American held $21,800 in personal debt, not including mortgage loans.

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