How to compute an annual compound interest rate

It's the little things like compound interest that can get you in the end. Learn how to compute compound interest and avoid bankruptcy.
Close-up of interest rate calculations written in ink on a piece of paper.

Number of people taking 401(k) loans hitting record high

The number of people that are taking personal loans out from their 401(k) accounts through employers are at a record high.
Jar full of coins

Sites offering peer-to-peer personal loans keep growing

Websites, such as Prosper.com and LendingClub.com, that offer peer-to-peer personal loans are starting to expand quite rapidly.
A desktop computer setup

Is Applying For A Payday Loan Through A Direct Lender The Best Option?

Using a lender matching service can get you cash in as little as 2 hours. Direct lenders have a very high denial rate for applications.
Using a lender matching service can get you cash in as little as 2 hours. Direct lenders have a very high denial rate for applications.

Value of college questioned with high loans and unemployment

As student loan balances and unemployment grow, people are beginning to question the value of college. The numbers say it does have value.
College Graduates

Strategic defaults starting to decline slightly

The number of people entering into strategic defaults, or walking away from a mortgage when advantageous to do so, is starting to decline.
An abandoned house

Personal loans to attend for-profit schools can be risky

Borrowing personal loans to attend a for-profit college may not be the best choice, as they are riskier than their nonprofit counterparts.
College graduates

How Can Installment Loans Help Protect Your Credit Rating?

There are millions of people each year that ruin their credit score because they did not know they could use installment loans to pay their bills before defaulting.
There are millions of people each year that ruin their credit score because they did not know they could use installment loans to pay their bills before defaulting.

Senate wants 401(k) accounts off-limits as personal loan funds

The United States Senate proposing a bill to limit the use of 401(k) accounts as a source of personal loans when people fall short.
Piggy Bank

Students have a hard time paying off personal loans

College graduates are having an increasingly difficult time paying back student loans. One in four struggle, and 7 percent are in default.
Students in graduation attire

Banks will not raise ATM fees too high for now

ATM fees won't climb too much higher, at least for now. Chase has ended a $4 and $5 ATM fee program, as consumers can stand only so much.
Automatic Teller Machine

Do Not Fall Behind On Your Bills - See How Short Term Loans Can Help Prevent Late Fees and Penalties.

Short term loans can help you stay current on your bills by providing quick cash so you do not rack up expensive late fees and penalty charges.
Short term loans can help you stay current on your bills by providing quick cash so you do not rack up expensive late fees and penalty charges.

Strategic defaulters more likely to be financially educated

Strategic default has been discussed more during the housing recession, and the people who do it are generally more financially savvy.
Walking Away

Credit card use declining as more people turn to cash

Credit card use continues to decline. Fewer and fewer people are turning to the plastic because more people are trying to shed debt.
Visa logo

14 banks ordered to pay homeowners back for bad foreclosures

Terms of the robosigning settlement include 14 financial institutions having to repay homeowners whose homes were wrongfully foreclosed.
Foreclosure sign

How To Get A Cash Advance Even With Bad Credit and Bankruptcy On Your Record

Not many people know they are still eligible for cash advances after bankruptcy or losing their credit. There are no credit checks so bad credit does not affect eligibility.
Not many people know they are still eligible for cash advances after bankruptcy or losing their credit. There are no credit checks so bad credit does not affect eligibility.

Killing payday lending does not fight poverty

The Anti-Poverty Coalition of Greater Dallas has attacked payday lending and ignored the financial effect eliminating short term credit.
A demotivational poster for unemployment. An Imperial storm trooper from “Star Wars” sits alone on the subway. The caption reads: “Unemployment: Sucks when your job gets blowed up,” referring to the destruction of the Death Star.

Federal Reserve not planning to reign in credit supply yet

Worries about inflation have caused lawmakers and financial experts to ponder whether the Federal Reserve should curb the credit supply.
Federal Reserve Vice Chair Janet Yellen

Credit bureau Experian accused of fraud in California lawsuit

Experian, one of the three credit reporting bureaus, is being sued for fraud for selling credit reports information that is worthless.
Court

Keep Your Debt to Credit Ratio Down By Using Personal Loans Instead of Credit Cards

The higher your credit balance the lower your credit score may be. Personal loans online do not go on your credit report in most cases.
The higher your credit balance the lower your credit score may be. Personal loans online do not go on your credit report in most cases.

Wireless payment network to debut in Salt Lake City

A wireless payment network is going to be unveiled in Salt Lake City. People with phones that have NFC technology will barely need a wallet.
Smartphone

Demand for same day loans is tremendous, FDIC says

Personal loans and same day loans are popular, but banks have proven too top-heavy to offer them effectively, according to the GAO.
The logo of the United States Government Accountability Office.