Americans can’t stop ‘spaving’ — here’s how to avoid this financial trap

Spending more to save more is an all-too common pitfall. The opportunities for so-called “spaving” are nearly everywhere, whether it’s the lure of a “limited-time deal” or “buy one, get one free” or tacking on additional items to get a bigger discount or simply to reach the free shipping threshold. But spending to save can lead … Read more

How to make high interest rates work in your favor

That’s not good news for people borrowing money, but it’s a great time to have savings accounts, says Ted Rossman, chief credit card analyst at Bankrate. “The biggest benefit is for savers,” Rossman says. “You can still get over 5% on a totally liquid totally federally insured savings account. The top one-year certificates of deposit … Read more

How to manage multiple personal loans? Here are 6 effective ways

Managing multiple personal loans may seem daunting, but implementing effective strategies can streamline the process and potentially lead to savings. Here are some essential steps: Emphasise and overcome: Arrange your debts in descending order based on their interest rates. Direct any surplus funds towards the debt with the highest interest rate while maintaining minimum payments … Read more

How to ensure a good interest rate on your personal loan? Here are 3 primary ways

The suitability of an annual percentage rate (APR) for a personal loan varies based on several factors but typically ranges between 6% and 12%. Here’s a breakdown to assist you in gauging what constitutes a favourable APR for your circumstances: National average: As of February 28, 2024, the average APR for a personal loan in … Read more

Personal Loan: Common scams and how to avoid them

Avoiding personal loan scams can be a significant challenge, but staying well-informed can help you steer clear of potential pitfalls. Warning signs of a scam include upfront fees, guaranteed approval irrespective of credit score, unrealistic interest rates, the use of pressure tactics, and a lack of transparency from the lender. To navigate loan options wisely, … Read more

How to compare personal loan offers? 8 vital factors to consider for the best deal

It is essential to compare loan offers before seeking one. Two primary reasons underscore the importance of comparing loan options before making a decision: Saving money Securing the right loan for your specific needs Look beyond loan interest rates When evaluating personal loan options, it’s essential to go beyond the interest rate alone. Take into … Read more

How to apply for personal loan online? A step-by-step guide

Seeking a personal loan online presents a convenient option provided by numerous lenders. Here is a basic outline of the process: Conduct research and evaluate lenders: Begin by exploring various lenders, and comparing factors such as interest rates, fees, loan terms, and eligibility criteria. Focus on reputable lenders in your region that align with your … Read more

How to choose the best personal loan? Here are the 6 main factors to keep in mind

Securing swift funds for various purposes can be efficiently accomplished through a personal loan. Whether it’s for a wedding, a child’s education, a medical emergency, travel, or any other necessity, a personal loan proves to be the optimal choice. This readily accessible line of credit allows you to address immediate needs, providing funds within seconds … Read more

The Budgetnista Tiffany Aliche: How to start budgeting

A young woman in her early 20s riding a chopper cycle. Karan Kapoor | The Image Bank | Getty Images Having a strong budget can help you build financial wellness. “A budget is a picture of what your money is doing,” Tiffany Aliche, also known as The Budgetnista, told CNBC during a Women & Wealth … Read more

How to negotiate real estate agent commissions

Fuse | Corbis | Getty Images When you buy or sell a home, your real estate agent’s commissions can trim thousands of dollars off the sale price — but many consumers don’t realize you can negotiate those terms. Nearly a third, 31%, of homebuyers and sellers negotiated commissions with their agents, according to a new … Read more