Household Debt Ratios Quickly Sink to New Lows

Household Debt Ratios Quickly Sink to New Lows

Household debt ratios for the third-quarter plummeted to levels not seen in more than 40 years. The Financial Obligations Ration (FOR) dropped 100 basis points (bps) over the past year, while the Debt Service Ratio (DSR) has declined 72 bps since the third-quarter of 2019, based on figures released by the Federal Reserve. The sharp…

Free Tax Filings

Free Tax Filings, Terrible Tariffs & Home Prices Dip

Free tax filings were not widely known among low-to-medium income taxpayers as some commercial tax preparation services did their level best to hide them until the IRS got pissed. Trump’s trade war has made every American a loser to some degree, small to big, but nonetheless, losers. Despite demand for housing and low rate mortgages,…

Financial Literacy Payoff

The Financial Literacy Payoff Has Finally Arrived

For more than two decades the nation’s largest payment networks, top banks, numerous financial firms, trade associations and tons of non-profit consumer advocacy/education have all been preaching the same sermons to teach and develop responsible money management skills. The hard work spearheaded by Visa with “Practical Money Skills for Life” in the mid-90s has paid…

Financial Debt Obligations

Financial and Debt Obligations for Consumers Remain Steady as a Rock Throughout 2018

Financial and debt obligations for consumers plateaued in all four quarters of 2018, reflecting rising employment, lower credit card debt, and steady interest rates. The Financial Obligations Ratio (FOR) and the Consumer Service Ratio (DSR) for U.S. consumer credit remained flat in the final three months of 2018. According to the Federal Reserve, on a…

Unprecedented Economic Turmoil for 2019-2020

Unprecedented Economic Turmoil Rattle Americans for 2019-2020

The unprecedented economic turmoil unleashed on U.S. consumers since December, by the longest U.S. government shutdown ever, is driving Americans’ bananas, heading to food banks, payday lenders and fighting off lenders and landlords. Tax Refund Mess Adding more insult to the financial injury is the reduced tax refund amount produced by last year’s Tax Cuts…

Millennials Opt for Tiny Homes

Millennials Opting for Tiny Homes & Affordable Zip-Codes Due to Crushing College Debt

Millennials, struggling with staggering college debt, are buying really small homes. Making ends meet and dealing with unexpected expenses is a big challenge. Furthermore, places most favored by Millennials include Bay City, Michigan, Indian, Pensylvania and Aberdeen, South Dakota. According to the latest Ellie Mae Millennial Tracker more than half of single Millennial homebuyers last…