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Being debt-free is an ultimate goal for many, but it’s a journey that some struggle to find out how to achieve. For Brandyn Rodriguez, a mother of two, two methods were her saving grace to clearing off $137,000 in debt. Rodriguez revealed to Good Morning America that after several failed attempts at getting out of debt, she started following the debt snowball method and a zero-based budget. She describes the debt snowball method as listing your debts from smallest to largest and then focusing on the smallest first while submitting payments on the other debts. The ultimate goal is for you to “repeat the process and continue building the ‘snowball’ until you finish paying off the largest debt last.” Along with her methods, Rodriguez balanced working as a restaurant server and at the United Way of San Antonio and Bexar County. “Every single time I opened up that billfold to give a customer their receipt or to write an order like, hey, you’re here for this. This is not the sexiest, fun...
As states across the country lift their COVID-19 rent freezes, many tenants could face eviction as unemployment rises and the economy dismantles. Black Americans and immigrants are most at risk because — on average — they have low or no credit scores due to the country’s history of systemic price mongering of federal agencies, local governments, and private sectors. According to Shoppe Black, Esusu, a minority-owned financial technology app, is on a mission to “eliminate the racial wealth gap driven by the role that credit and housing play in financial stability and wealth accumulation in the United States.” Thankfully, it has secured $2.3 million in seed funding, totaling $4 million since they began fundraising in June to achieve its mission. Wemimo Abbey and Samir Goel founded Esusu in 2018, to allow users to pool and withdraw money for big-ticket transactions, like home down-payments, and use that data to help users improve their credit profiles, reports Forbes . An Esusu survey...
Homebuying season is underway — and demand is strong. Perhaps encouraged by lower mortgage interest rates, a large number of people who would like to buy a home in the coming year are hopping off the fence and shopping around. Nearly half of these prospective buyers are actively searching for their dream home, according to research from the economics team at the National Association of Home Builders. To get a deeper understanding of homebuyers’ perceptions of today’s housing market, and what exactly about the homebuying process causes them stress, LendingTree commissioned a survey of first-time and repeat buyers. The results are highlighted below. Key findings 6 in 10 homebuyers think now is a good time to purchase a home. And the majority of nearly every category agree. Nearly two-thirds (65%) of homebuyers with credit card debt and almost 62% of buyers with student loan debt believe it’s a good time to buy a home. Just over half (55%) of homebuyers without any debt agree. Current...