personalfinance
As a senior manager at a pharmaceutical firm, Angela Bolt's student loans began at $34,000, but have grown to an overwhelming $528,152 over the years. In a BBC interview, she expressed her disbelief, saying, "The numbers are so real and astronomical that I can't even fathom making a payment." As of early 2023, Bolt's monthly payment was $5,698.30. She remarked, "That's basically almost what I make...There's no way I'll be able to make payments in my life. The kind of payments they want." Despite receiving multiple scholarships and grants, she found that they only covered some things. "There we...
IBTimes
ValueWalk
Have you, or someone you care about, been trapped by a financial predator? Don’t beat yourself up too much — you’re far from alone. Financial scams don’t just target the most vulnerable or gullible among us. The best con artists are the ones who know exactly what they’re doing, whether it’s a debt collection, credit card phishing, or imposter scam. According to the Financial Industry Regulatory Authority (FINRA), approximately one in ten adults in the United States fall victim to fraud each year, losing billions of dollars in the process. However, only people who report fraud are included in t...
Due
ValueWalk
Cassandra, 40, was in for a shock debt reveal when she asked her husband, Aldo, 41, about their debt liabilities. Aldo, who works in a finance role and earns over $100,000 annually, said the debt amounted to over half a million dollars with $66,000 in collections due to months of missed payments. Cassandra and Aldo have been married for 18 years and have two kids. They jointly earn $165,408 annually. The couple was watching the Netflix show "How to Get Rich" when Cassandra suddenly asked Aldo about the debt situation. Soon after, they got into a call with the show's founder and multi-millionai...
IBTimes
Three years ago, Blaisey Arnold, 28, bought her dream car, a Chevy Tahoe, for $84,000. Recently, she shared on TikTok that she was selling the car as the finances weren't making sense anymore. Arnold's car, financed by GM Financial, a subsidiary of General Motors, came with a hefty price tag. Over three years, she paid a staggering $ 1,400 per month, totaling nearly $50,000. Despite these substantial payments, her outstanding balance remained at a staggering $74,000, with over $40,000 of her hard-earned money going towards interest payments. Reflecting on her experience, Arnold shared, "It is ...
IBTimes
Your first credit card is a significant step towards financial independence. While it's relatively easy to obtain one with a job, it's crucial to understand that it's equally easy to accumulate debt rapidly. However, by using your credit card wisely, such as maintaining a low credit utilization and making timely repayments, you can actively build a good credit score. This not only helps you secure bigger loans like a mortgage on more favourable terms later in life but also empowers you to make informed financial decisions. It's important to note that credit cards often carry high-interest rate...
IBTimes
Nischa Shah is an accountant, investment banker and "money expert" who has worked in finance for over 13 years. In a video posted on YouTube, the UK-based finance expert told her one million followers that, throughout her career, she has "seen first-hand the middle-class habits that keep people in the rat race." The class divide has been an ongoing social justice issue in the UK for centuries. Donald Hirsch, a policy adviser at abrdn Financial Fairness Trust, an independent charity that funds research and campaigns that tackle financial injustices, said that a middle-class income "is people ea...
IBTimes
Nischa Shah is an accountant, investment banker, and "money expert" who has worked in finance for over 13 years. The UK-based finance expert uses her YouTube profile, which boasts more than one million followers, to educate and entertain those seeking money management advice and those interested in the finance world. In a video posted on YouTube, Nischa told her audience that, throughout her career, she has "learned how to spot the signs that contribute to financial success" even if you feel like you aren't doing well. These signs include: Playing "the wealth game".Tracking the average annual ...
IBTimes
ValueWalk
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