Pew study finds shrinking middle class is an economic minority

A recent Pew study found the presently shrinking middle class is now in the minority, as those between poor and well-off are becoming fewer and farther between. It’s a phenomenon that’s been observed and lamented for some time. Fewer people able to be middle class anymore The term “middle class” can be construed any number

Questioning the Payday Loan Industry’s Annual Percentage Rates and Fees

Lender matching services like Personal Money Store and lenders that offer payday loans online and in storefronts advertise small, short-term loans as a quick fix to temporary financial difficulties. After a short request procedure, approved consumers are able to receive the money inside of the store within a few hours or have it deposited into
the european flag flying, blue field with a circle of gold stars

European debt crisis poised to weaken U.S. economic recovery

Europe’s debt crisis is endangering U.S. economic recovery in the era of globalization. The Euro hit a new four-year low against the dollar Monday. Greece, Spain, Portugal, Italy and Ireland are dragging down the European Union faster than a recent pledge of nearly $1 trillion dollars in bailout money can prop the alliance up. Britain’s

An Overview of Online Payday Lending Industry Customers

There is hardly any category of the finance industry that has not carved out a niche for itself on the Internet. This especially holds true for the payday lending industry, which has come a long way from being an add-on service at check-cashing establishments and has continued to perform well during the recent recession. In

The Negative Repercussions of a Payday Loan Ban

Let’s say certain consumer advocate groups got their way; what would the effects of a payday loan ban be? Certain demographics would lack access to credit (though some assert harmful credit), or would use potentially worse forms, among other potential effects. First effects of payday loan ban are denying supply, not demand The primary effects

Credit union payday loans among growing alternatives

For a sector that prides itself on its virtue, credit union payday loans don’t seem a likely product to exist. However, despite the stigma of the product and the industry, credit unions and other entities are slowly taking an alternative product mainstream. Slow growth in credit union payday loans Payday and other short term loan

The Bubble And Bust Cycle

In macroeconomics, one of the dominant forces is what’s referred to as the “Bubble and Bust” cycle, also called “boom and bust.” The idea is that demand, and thus value, for certain goods or services will rise until the market cannot bear the price and then the value of that commodity crashes, which can leave

Want to Get Rich? Then Start Young, and Don’t Stop.

The miracle of compound interest enables modest savings to grow into a substantial nest egg over many years, but investing in stocks and other investments can generate real wealth during the same time period. The best strategy is to start investing when young and keep adding to your portfolio according to a recent post at
Fast payday loans on a speedometer

When Fast Payday Loans Lead to Slow Repayment Cycles

The country can’t seem to make up its mind about fast payday loans. While numerous financial experts and legislators warn people against getting them, the borrowing options for some are few. Until traditional financial institutions jump into the lending sector that lends money to borrowers with low or no credit scores, many people must turn
short term loans street sign

Short Term Loan Lenders Fear Impact of Pending Regulations

When the Consumer Financial Protection Bureau issued its first draft of the new regulations proposed for short term loan lenders in 2015, there was an immediate outcry. Payday lenders and others making short term loans claimed that the restrictive rules would either force them out of business or leave them with no choice other than
Personal loans paperwork

The Role of Small Personal Loans in a Debt-Based Economy

Small personal loans are debts that individuals incur for a variety of reasons. The loan proceeds, which are typically less than $3,000, can be used for almost any legitimate purpose. For example, borrowers may use the loans to pay medical bills, redecorate a home, pay for a vacation, cover car repairs or pay off a

Don’t Let Bad Credit Stay that Way! It’s Easier to Fix than You Think

Credit scores are tricky little things. Financial institutions use this number to decide whether to lend you money or not. If yours is on the low side or nonexistent, then you may have to pay more or make do without the extra money that you need. Don’t let bad credit stay that way. It’s easier

The Advance Payday Loan Market Is Shrinking. Here’s What’s Taking Its Place:

A flurry of recent articles suggests that the payday loan market is shrinking, but fortunately for people with poor or bad credit, there are new alternatives for personal and payday loans. Although many brick-and-mortar stores have been forced to closed, we can still help you find loans online. We offer payday loans up to $1,000,
Stocks in bull market

Stock Markets Continue to Explode Higher — But Can It Last?

On October 17, the Dow Jones topped 23,000 in midday trading, setting another record a mere six weeks after reaching 22,000. Since Donald Trump won the presidential election in November 2016, the Dow Jones has climbed 26 percent, due in part to Trump’s plans for deregulation, corporate tax reductions and spending on infrastructure. There is
Spending money isn't always a bad thing

Don’t Lose Sleep over Money Well Spent

While society has easily embraced the pumpkin spice latte, it has been less accepting of the cost. For a while, every financial blog post about getting out of debt focused on paying it off by giving up small luxuries like lattes. Publications make it seem as though people are paying off $50,000 in debt just
Small personal loans gain popularity

Personal Installment Loans Are Crushing Their Payday Counterparts

Born from the chaos of the 2008 economic crisis and with its creation authorized by the Dodd-Frank Act, the Consumer Financial Protection Bureau has had its sights fixed on payday lenders since at least 2013. After approximately two years of research, including soliciting complaints from payday loan borrowers, the CFPB released a report proposing new
401 Accounts are often lost when workers change jobs

Americans Lose Trillions From 401(k) Rollovers — Here’s How to Fix It

During the first couple of years following the economic crisis of 2008, there were numerous stories that featured Americans nearing retirement age whose 401(k) accounts had lost a significant amount of money. For example, in 2009, CBS interviewed several people in their 50s and 60s who had seen their life savings reduced by 50 percent