According to the Employee Benefit Research Institute’s latest study on borrowing, about 20% of IRA participants have outstanding loans from their plans.
According to Fair Isaac, on average, today’s consumer has a total of 13 credit obligations on record at a credit bureau, 9 credit cards and 4 installment loans.
Americans have now racked up more in college loans than credit card bills. Recent graduates owe an average of $28,000.
Couples are marrying later in life, and that means merging two households.
Should you loan your kids money?
Just like you give your kids the sex talk, you need to give them the credit talk as well.
Some of you are out shopping and you may have the kids with you in the car. As harried as you are right now, why not give the kids a money lesson?
Renting out your daughter’s room after she leaves for college is not a viable solution for extra cash to pay for school.
More of the trick or treat tips on credit from the National Foundation for Credit Counseling.
It’s easy to ask others what they’re doing for retirement savings and just follow their plan, but one plan does not fit all.