View Post

Why Am I Getting So Many Credit Card Offers?

LendKey

In Managing MoneyLendKey

As soon as you turned eighteen, it seemed like credit card offers started flooding your mailbox. Offers appeared even if you did not apply for a credit card. Do you find yourself dropping multiple credit card offers, many of them pre-approved, into the shred pile? Are you tired of dealing with the letters–not to mention all the wasted paper that comes along with them? Are you worried that your information may have been shared with more companies? This guide can help you understand and handle those offers. Why Are You Getting So Many Credit Card Offers? The three major credit …

View Post

How to Start a Small Business When You have Student Loan Debt

LendKey

In Managing MoneyLendKey

Millennials may very well be the “small business” generation. Approximately 30 percent of millennials have already started a small business of their own, compared to 19 percent of baby boomers and 22 percent of generation X. This generation has a can-do attitude and they are strongly attracted to the individualistic nature of small businesses. Unfortunately, millennials are also a generation defined by student loan debt. Approximately 42 percent of millennials have reported that they, or someone in their household, has student loan debt in their name. This makes the millennial generation something of a paradox: these young people are go-getters …

View Post

Credit Freeze – What, How, Why, and Other Things to Consider

LendKey

In Managing MoneyLendKey

Identity theft is one of the biggest concerns in the modern world – especially given the relatively recent high-profile breaches. If you have had your identity stolen, getting it back can be a nightmare. Even if you have not, then the fear of somebody racking up thousands of dollars of debt in your name can be paralyzing. Because of this, some experts are suggesting freezing your credit as an effective way to protect yourself from identity theft. What is freezing your credit? If you freeze your credit, you prevent anyone other than you and your existing creditors from accessing your …

View Post

Your Basic Guide to Credit Freezes

LendKey

In Managing MoneyLendKey

Following the Equifax data breach in 2017, many customers started talking about the possibility of a credit freeze: a simple step they were hoping would prevent identity theft. Understanding how to perform a credit freeze, when you might want to perform one, and how to return your information to its normal state will help you navigate these often murky financial waters, better preparing you for future credit catastrophes. What is a Credit Freeze? During a credit freeze, you close off your credit accounts with the three key credit agencies. Thanks to the freeze, no one–specifically creditors–is able to access information …

View Post

Buying A Car With Student Loan Debt: Things to Consider

LendKey

In Managing MoneyLendKey

Buying a Car When You Have Student Loan Debt You’ve just graduated, with a crisp new diploma you’re ready to take on the world and are excited for your first day of work at your new “adult job”. You want to drive to work in your own car rather than your parent’s old ride – but can you afford it? Statistics overwhelmingly say no. Today, in addition to their exorbitant student loans, graduates are sliding further into debt due to rising car prices. The average new model costs in excess of $31,000, with even small sedans approaching the $20,000 mark …

View Post

Buying A House with Student Loan Debt: Things to Consider

LendKey

In Managing MoneyLendKey

When Can I Buy a House If I Have Student Loans? There are many reasons that millennials find owning a home appealing. In fact, a recent survey found that 33 percent of millennial home buyers’ decision to buy a home was driven chiefly by their dog.1 Dogs outranked marriage as well as the birth of a child as top motivators for buying homes. Whatever the case, becoming a homeowner is a goal for many recent graduates. But how does a home loan fit into the picture when you have student debt? If you’re a recent graduate who’s ready to get …

View Post

Till Debt Do Us Part: Love, Marriage, and Paying Bills with Student Loan Debt

LendKey

In Managing MoneyLendKey

So, you’ve decided to tie the knot — congratulations! This decision likely came after careful thought and deliberation on multiple fronts by both you and your partner. However, of all the considerations you’ve made in advance of deciding to get married, did you remember to take into account your financial status? Most young graduates fail to talk about finances upon deciding to get married, a mistake which can lead to major disagreements and a hefty dose of unhappiness in the future. It’s vital to have a serious discussion with your partner about all facets of their financial matters, from student …

View Post

Millennials Think About Personal Finance Differently

LendKey

In Managing MoneyLendKey

By Dave Rathmanner When it comes to personal finance, millennials aren’t like their parents. In fact, they’re a generation that has very distinct views and behaviors when it comes to their finances. These beliefs sometimes lead them to make decisions that can seem counterproductive, but they also offer proof that millennials are progressive and more open than other generations to things like technological change and examining the social impact of their actions. Here are some things that might surprise you about what millennials think about personal finance. Millennials Like Financial Technology Millennials love technological solutions and are often among the …

View Post

5 Things Every Commencement Speaker Should Say

LendKey

In Managing MoneyLendKey

Once again it’s college graduation season. Commencement speakers are being announced at a daily pace, many hailing from business and industry, government, health-care and entrepreneurial backgrounds. They all have a great deal to share in making memorable graduations for thousands of students each year. But as Adam Levin of Credit.com highlights in a new essay “5 Things Every Commencement Speaker Should Say”, speakers regularly fall back on famous quotes to carry the speech like Emerson’s “Hitch your wagon to a star” or the Dr. Seuss classic, “Be who you are and say what you feel, because those who mind don’t …

View Post

How to Improve Your Credit Score Over Time

LendKey

In Managing MoneyLendKey

The Main Ways Your Credit Score Can Improve Over Time Your credit report is one of the defining numbers of your adult life. For instance, it is one of the key factors in determining your interest rate and loan terms when you try to refinance student loans. This means your credit score can potentially make hundreds of dollars difference to your monthly payments. The five main factors determining how your credit score is calculated include: Payment History Loan Balances Length of Credit History Types of Credit How Much New Credit You’ve Applied For While a credit score reflects credit payment …

View Post

5 Savvy Tips for Negotiating a Raise

LendKey

In Managing MoneyLendKey

When entering into negotiations for a raise there are a few key factors to always keep in mind. Consider your timing If a coworker was just laid off or your company is actively surveying suppliers to save money, this is not the time to ask for more money. However, if you’ve just brought in a new client or there are record-breaking profits on an account you’re working on, you might make your request. At the same time, ignore the calendar. Being at the job exactly one year, or even three long years, doesn’t guarantee you have merited a raise. You …

View Post

Clearing A Balance at The End of the Semester

LendKey

In Managing MoneyLendKey

Clearing up outstanding balances and getting registered for the next semester is important. However, final exams and papers often dominate attention during the end of semester, the same time new registration begins. Right now there is a major test or report due, but don’t let the stress get in the way of clearing registration for important classes, your timely graduation depends on it. Here are some tips for following through on school funding and billing issues. 1. Confirm that all your financial aid has paid: Make sure all your grants, scholarships and student loans are accounted for. It’s not abnormal …