Financing for family vehicles is one of the four main sources of debt for American consumers. It typically doesn’t cause as many problems as credit card debt and student loans, but like a mortgage it’s a debt that most people either have or aspire to have. What’s more, transportation costs are the second largest expense in the average household budget after housing costs. With that in mind, we’ve gathered the latest news on auto loans and other out-of-pocket transportation costs from insurance to fuel to help you cut car costs to get on the road without driving towards debt problems.
A new report finds long term auto loans are getting longer and longer, leading to more time in debt and higher costs due to added interest charges. Do borrowers really benefit from that commitment?..Read full article
Emergency savings is essential to cover unexpected expenses like home and car repairs, as well as to give you a financial safety net in case you lose your job or can’t work due to a medical emergency. But how much should you have in emergency savings and how much do average Americans actually save?..Read full article
Three out of four couples will use credit to finance their wedding, with an average price tag of $33,391. We explore why getting married with debt is a fast way to ruin your relationship and offer tips on how to enjoy a debt-free wedding...Read full article
A new Federal Reserve study finds more Americans say they are doing okay or living comfortably, but improved economic well-being in the U.S. is not equal across all demographics and regions. We define financial well-being and offer tips on how to improve yours...Read full article