“Why isn’t my credit score improving?”

I’ve been paying my bills every month on time and nothing changes on Credit Karma. I feel like I’m stalking the app. What should I do? Submitted by Michelle S. Congrats on paying your bills on time! Can we just celebrate that for a moment? What Impacts Your Credit Score Paying your bills will not…

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“Do you recommend credit consolidation?”

Do you recommend credit consolidation to improve scores and decrease debt? Submitted by Natasha P. There are two parts to this question, so let’s dig into them separately. Improving Your Credit Score Whenever a financial institution pulls your credit with the purpose of offering you a loan, your score may be affected. Closing a credit…

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What is Lifestyle Inflation?

Have you noticed that even when your income increases, it can feel like you still don’t have more money leftover at the end of the month? That’s because often, when our income increases, our expenses do too. This is a very real phenomenon called lifestyle inflation that can sneak up on us despite our best…

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“How many credit cards should I have?”

“Hi Saundra! As someone who is getting her credit back in order, I want to be wise about applying for credit cards. I have two and working hard to keep them both under 30% utilization. I’m considering applying for one last card. How many credit cards is too many?” Submitted by Laurin O. There are…

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What does it mean to refinance a mortgage?

Let’s start with the basics. Refinancing simply means that you’re replacing your existing loan with a new mortgage. Reasons for Refinancing a Mortgage If you’re considering refinancing, your reasons may include: A lower interest rate Shorter (or longer) term to pay off the loan or cash out equity Changing the type of mortgage (you may…

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“How can I get a loan for a cheap used car?”

Hello, Saundra! How do I go about finding and choosing a certain type of loan (if one exists) that would enable me to quickly buy a cheap used car (around a couple thousand) that I could be able to pay back (with no job/income) with only the money I have saved from last semester’s student…

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“How can people on government assistance save for retirement?”

“Where are the best places for people on state assistance to start saving for retirement? I’m looking for something with low starting balances and low monthly transfers to the account. Do you recommend any financial companies, savings accounts, government-issue bonds, stock market?? I am so confused!” Submitted by Jessica L. I want to acknowledge your…

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