A recent study by LendingTree to explore whether there is any merit to the long standing generalization of Republican over Democratic wealth has turned up some interesting results. Defined as either a blue state or red state by voting positions during the 2016 election, blue states apparently have a higher average credit card debt and a lower average credit score than red states. But that is not what is interesting. Looked at individually, the states with a higher average cost of living held the top spots for average credit card debt. The LendingTree survey results may have less to do with the wealth that people have, and more to do with the wealth that people think they need in order to live where they live.
Invest In Projects You Care About At A Minimal Cost: Crowdfunding Meets Impact Investing-Gear Patrol
Title III of the JOBS Act, which was passed in March 2015, and kicked into effect March 2016, changed securities law. It opens up investment opportunities in private companies which were previously only available to high-net-worth, accredited investors. And it allows companies to raise funds with a less cumbersome process than an IPO.
This means that innovative projects can get funding from people who believe in the team and mission. This is projected to be a huge industry; a recent Goldman Sachs report estimates the size of equity crowdfunding to be 1.2 trillion dollars. And the cost to get in actually fits into a normal household budget. Umber Bawa, founder, and CEO of Rabble, discusses equity crowdfunding and how individuals can get involved.
A recent report from The Consumer Financial Protection Bureau documents complaints from borrowers that student loan servicers are mismanaging the Public Service Loan Forgiveness program. And The Consumer Bureau is doing something about it. The Public Service Loan Forgiveness program was launched in 2007 to encourage people to enter public service by offering debt forgiveness after 10 years of service. Over 500,000 first responders, teachers, service members, social workers, nurses, and other public health professionals are pursuing debt relief under this program.
However, recent complaints claim that the business practices of student loan service providers have delayed or denied loan forgiveness. Along with tightening down on its supervision of student loan servicers, The Bureau is launching the “Certify Your Service” campaign to help public servants pursue their promised loan forgiveness.
Socially Responsible Investing: How To Evaluate Potential Investments on Their Impact-TickerTape Ameritrade
If you’re interested in becoming a socially responsible investor, there are things you can do on your own to evaluate potential investments for their impact on issues that matter to you. With capabilities more readily available through today’s technology, it is becoming easier to measure the impact investors make with their money.
If you’re investing in individual stocks, visit the homepage of the company you’re interested in, and check out their corporate responsibility info. If you invest in mutual funds, either on your own or through your 401(k), there are online tools that can help you find companies that align with your core values.
One of the most frequently cited solutions for consumers trying to manage credit card debt is to seek credit card debt refinancing in the form of low or zero interest balance-transfer credit cards, or credit card debt consolidation loans. A recent study has found that the majority of consumers surveyed who have tried these solutions found themselves, both financially and emotionally, in the same position, or even worse off than they were three years prior. Their average credit card debt increased, and they felt even more financially stressed. Without a change in mindset and behavior, credit card debt consolidation loans can entice consumers to dig themselves an even bigger hole.
Nearly a third of consumers today make purchases from brands that reflect their social and environmental values, according to a recent survey. It appears that some financial institutions are taking notice. For consumers wanting to make a positive social impact, some financial institutions are now offering customers opportunities to make socially responsible investments (SRI) in companies that are committed to addressing environmental and social issues.
Aspiration Bank recently launched an impact measurement tool in its mobile app that allows consumers to gauge the impact of purchases made with their debit cards through a sustainability score. This information empowers consumers through their purchasing decisions.
A mortgage isn’t officially paid off until you pay off the principal. The amount of interest you’ll have to pay is therefore directly affected by how long it takes you to pay off the principal. In other words, you’ll save a lot of money by paying off your mortgage sooner. For example, if you’re on a 30-year mortgage, you are going to pay a lot more than if you were on a 15-year mortgage. What can you do about it?
There are free tools out there that can help. LendingTree’s helpful free tools can show you how much money you can save by considering a shorter term mortgage. By accessing current rates from banks all around the country, Lending Tree’s tools can put you in a position where nationwide banks are competing for your business.
Millions of Americans who have shaky credit and need a car are forced to turn to subprime auto loans with high-interest rates and exorbitant fees. During the subprime mortgage crisis of 2008, people could turn in the keys to their house and walk away. But with auto debt, there is increasingly no exit. Repossession, rather than being the end, is just the beginning. Unable to recoup loan amounts after repossessing and selling the cars, subprime companies continue to go after borrowers by suing them, sometimes years later.
Borrowers who can’t afford lawyers, or don’t show up to court to challenge the lawsuits, are often burdened with judgments that can even be used to garnish wages. Many borrowers are still on the hook for purchasing lemons that they could not afford to fix and have long since been repossessed. Auto lending was one of the few types of credit that did not dry up during the financial crisis. It now stands at more than $1.1 trillion.