Money Matters News

10/26/2020

Americans used most of their stimulus checks for saving and paying off debt, Fed study shows.

Economic relief payments established by the CARES Act in March were mostly used to bolster Americans' savings and erase the debt, accordin...

10/05/2020

How to respond to debt collectors who keep contacting, intimidating you.

The Federal Trade Commission has launched a program named "operation corrupt collector." The action now has the federal government partner...

09/28/2020

5 steps to take after paying off your credit card debt:

1. Check your credit score
2. Build an emergency fund
3. Use the debt avalanche or debt snowball method
4. Add to your mortgage payments
5. Invest in your financial future

- Via Fox Business

09/16/2020

Americans began the year owing more than $1 trillion in credit card debt after a $76.7 billion spending spree during 2019. But when the pandemic arrived with full force in March, consumers’ first impulse was to pay off debt. Credit card balances dropped by a record $60 billion.

It’s becoming increasingly clear that one effect of the coronavirus (COVID-19) pandemic has been a change in consumers’ financial habits. ...