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Has the Pandemic Made It Easier to Get a Personal Loan?
According to research conducted by the University of New Hampshire’s Carsey School of Public Policy, in 39 states, the number of jobs lost between February and July exceeds those lost in the great recession. While talks about a second stimulus package resume in September, unemployment and income uncertainty are putting a strain on American’s ability to cover large expenses.
Despite this, a growing number of people are relieving financial anxiety by taking out personal loans.
These loans can help you pay bills and cover expenses during cash-strapped times. How hard or easy is it to get a personal loan, and what role has the pandemic played? First, we have to talk about how personal loans work and what you need to consider before applying.
Why Universal Basic Income Would Be Good for the Economy
A new survey from Hill-HarrisX has found that bipartisan support for a universal basic income (UBI) has risen. According to the survey, 55% of registered voters are in favor of a UBI system — up 12% from the 2019 survey.
Renters Insurance Terms to Know
Part of the allure of renting is not being married to your space. You may not be able to put your footprint on it with paint and upgrades, but you can pick up and move when the next best thing shows up. But the parts that make a place home — your belongings — can follow you wherever you go. That’s why it’s important to answer the question, “What is renters insurance?” It can be a powerful tool to financially protect your personal items in a variety of situations. Reviewing renters insurance definitions can also help you understand what your policy covers.
Find the Best Renter Insurance
Enter your ZIP code below and be sure to click at least 2-3 companies to find the very best rate.
Trying to Save Money on Food Costs? Read These 6 Tips
Here’s a batch of food-related questions from readers: how to spend less on food, how to get more value out of food, and so on. Food makes up one of the biggest flexible parts of a family’s budget, so honing your techniques for getting the most value out of your food dollar is essential.
1. What’s the best curbside pickup grocery strategy?
2. Should I make my own vinegar?
3. How do I cook with a small kitchen?
4. The importance of frozen pizza
5. Navigating school lunches during COVID-19
6. How can I learn to cook better?
How to Offset the New Mortgage Refinance Fees
Millions of Americans have decided to take advantage of historically low interest rates and refinance their mortgage. However, if you haven’t already started the refinancing process, there’s a good chance you’re going to be assessed a new fee. Fannie Mae and Freddie Mac recently announced a decision to charge an “adverse market fee” on all refinances starting September 1, 2020.
If you haven’t already gotten the ball rolling on refinancing your home, you’re likely to be impacted by the new charge. Fortunately, there are a few ways you may be able to avoid or offset the new mortgage refinance fees. Shopping around with different banks to get the lowest interest rate possible and improving your credit score can increase savings when refinancing a mortgage.
Here’s Where Home Prices Have Increased the Most This Year
The housing market is in a strange place right now. Interest rates for 30-year fixed mortgages are below 3%. This is good news for potential homebuyers since lower interest rates translate to paying less in interest on their home loans over time. On the other hand, the current home shortage tends to favor sellers, who can expect to get the list price or maybe more should buyers get into a bidding war. This odd mix of low interest rates, high demand and short supply have combined to drive up home prices, especially in five U.S. states.
We Could Fix the Retirement Race Gap. Here’s How.
The ongoing question of whether Americans are financially prepared for retirement has taken a sharp turn due to COVID-19. The pandemic is forcing older workers into involuntary retirement because of health risks and decreased job prospects. And, many of these workers may not have enough saved for their retirement years.
5 Things the Next Stimulus Package Desperately Needs
In a not-so-shocking, but still unbelievable, turn of events, Congress has adjourned for the summer without settling on a new stimulus package. While we can’t pass a bill to get rid of the virus, Congress can make attempts to alleviate the economic impact.
To follow the CARES Act and its expiring measures, the GOP introduced a trimmed down stimulus package called the HEALS Act and Democrats countered with their own proposal called the Heroes Act. Congress was unable to reach a compromise in a classic stalemate for the two parties — Republicans want to spend less, and Democrats want more comprehensive measures.
Since they have until Labor Day (when lawmakers return to D.C.) to mull it over — we have some ideas on what the package should include.
“The Art of Frugal Hedonism” and Finding Pleasure in Frugality
Frugality is simply seeking out the most effective use of your money and other resources, allowing you to enjoy life now while also preparing for a wonderful future. It’s like thinning out the garden of life — you’re removing the weeds and unhealthy plants so that the healthy plants can really thrive and bear abundant fruit.
Unfortunately, frugality can look a lot like deprivation. Frugality inherently means figuring out which things aren’t providing much value to you and saying no to them, but that’s often incorrectly translated into saying no to the things that bring us great pleasure in life.
USAA Student Loan Alternatives
Traditional banks offer some of the best student loans on the market. USAA provided competitive students loans too, but they did this through a partnership with Wells Fargo. Unfortunately, the program ceased in December 2016 due to insufficient demand. While existing borrowers can continue to repay their USAA loans for students as before, those interested in new borrowing or refinancing will need to look for alternative providers.
Check Your Personal Loan Rates
Answer a few questions to see which personal loans you pre-qualify for. It's quick and easy, and it will not impact your credit score.
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