A short history of consumer borrowing and credit card debt in America.

/PRNewswire/ -- Today, VantageScore released CreditGauge, a monthly analysis highlighting the overall health of U.S. consumer credit. The average VantageScore...

Plus a charted review of the macro crosscurrents 🔀

The challenges to managing credit this year has been the impact of increased interest rates on all types of borrowing, and the trend, especially for smaller retailers, to either charge a fee for using a credit card to cover the “swipe fees” the merchant pays, or offer a discount for cash. We will discuss the details behind this and the proposed legislation to deal with this situation.   Interest Rates In July, the FOMC raised its benchmark interest rate to 5-5.25%. What do higher interest rates mean for all of your credit vehicles?

Total household debt balances increased by $16 billion in the second quarter of 2023, according to the latest Quarterly Report on Household Debt and Credit from the New York Fed’s Center for Microeconomic Data. This reflects a modest rise from the first quarter. Credit card balances saw the largest increase of all debt types—$45 billion—and now stand at $1.03 trillion, surpassing $1 trillion in nominal terms for the first time in the series history. After a sharp contraction in the first year of the pandemic, credit card balances have seen seven quarters of year-over-year growth. The second quarter of 2023 saw a brisk 16.2 percent increase from the previous year, continuing this strong trend. With credit card balances at historic highs, we consider how lending and repayment have evolved using the New York Fed’s Consumer Credit Panel (CCP), which is based on anonymized Equifax credit report data.

Virtual Business Personal Finance is an interactive, online business simulation that teaches high school students the fundamentals of personal finance and financial literacy.

Everyone has an anthem that guides and grounds them. Just like the financial guidance offered by Anthem Advisors.

Determine how much your money can grow using the power of compound interest.

Discover new car prices and used car values for any vehicle, current deals, MSRP, and CPO values.

Banks are being choosier about extending credit, and making it more expensive for households and businesses to get a loan.

On return on hassle and why you need to consider the time/work needed for an investment in addition to its expected return.

The FedNow introduction tops this year’s “What’s New” entries. Also included is a discussion of the proposed regulatory and policy changes following the SVB and other bank failures and the potential impacts on consumers. Finally, we will provide updated lists of best rates and updated data on how many people in the US are “unbanked.”   FedNow For a comprehensive discussion of the FedNow program, it is worth reading this speech given by Loretta Mester, President of the Cleveland Fed earlier this month to the National Bureau of Economic Research. The speech is the basis of the description below, and the figures included are from her presentation.

From not saving for retirement sooner to taking out too much in student loans, 3 in 4 Americans have a financial regret.

Drawing on a decade of data, our most comprehensive report yet, uncovering child care cost trends and cost-saving strategies for your child care needs.

Shares of Wall Street's most valuable companies were mixed on Friday ahead of a rebalance of the Nasdaq 100 index to address the benchmark's "overconcentration."

Gifting your children a solid start to their credit history opens up a world of financial opportunities and benefits. It not only increases their chances of getting approved for loans and credit cards, but it also means they will likely receive lower interest rates, saving them a significant amount of money over time. It takes credit to build credit, not a debit card, checking or savings account. To build credit as a minor, your child must be listed on a credit-related account like a credit card

Americans are increasingly getting shot down when they seek out loans, new data from the New York Fed, released Monday, said.

The majority of Americans say they're uncomfortable with their amount in savings — nearly 3 in 5 don’t have three months of expenses saved.

Families spend less on food today than any point in the past https://t.co/Nk9Vw6Jmmf pic.twitter.com/tFHVUTg3oU— Jeremy Horpedahl 🤷‍♂️ (@jmhorp) June 28, 2023

Meemic works with you to find the auto insurance coverage that best fits your needs, while saving money.

“Climate shocks are making parts of America uninsurable,” the New York Times observed following State Farm’s announcement. While climate change might be in the zeitgeist, there are better explanations for State Farm’s exit.

Amid elevated valuations and interest rates, the risks of owning U.S. stocks today may outweigh the rewards.

Costs are up nationwide since last year, with homeowners in some states seeing their premiums rising at more than double the rate of inflation, according to the Policygenius Home Insurance Pricing Report.

"We’re steadily marching toward an uninsurable future."

From major cities to rural areas, what is considered middle class income can vary greatly. Use your income and zip code to see where you fit in the middle class.