Nitro Knowledge. Your Guide to Paying for College.
If you’re facing an unexpected car repair, a job opportunity across the country, or a great deal on a dream vacation, you may need to come up with money fast.
While you could use a credit card, a 401(k) loan, or tap into your home’s equity, there may be a better way: apply for a personal loan.
If you're in a crunch and need money to cover the cost of an unexpected repair or another emergency, personal loans and payday loans are two financing options you may be considering.
But which option is better? This isn't a hard question to answer: personal loans for the win. In nearly every case, a personal loan is going to be better, cheaper, and safer than a pay day loan.
Should you consolidate your debt? It's definitely worth considering.
If you have a lot of debt, consolidating it—that is, replacing multiple loans with one single loan, usually in the form of a personal loan—can be a great way to get out from under your financial burden once and for all. But it isn’t right for everyone.
In a nutshell, debt consolidation involves replacing multiple types of debts with a single debt. Depending on how you consolidate, you could realize multiple benefits from having a single account.
When you have loans with multiple companies, it can be a challenge to keep track of your payments. They all have different due dates, terms, and late fees. Make a mistake with any one of them, and you can damage your credit.
Despite rising tuition costs, getting a college education is the best possible way to make a better living. On average, college graduates earn 56% more than those who only get a high school education, according to data compiled by the Economic Policy Institute.
But post-college graduation, there tends to a rude awakening: Graduates today are saddled with an average of $37,172 of student loan debt, and it takes the average borrower 19.7 years to pay off their loans.
If you’re looking for ways to go debt-free, chances are that you've heard of Dave Ramsey's “seven baby steps” approach to financial wellness. Baby step #1 is socking $1,000 away in savings, and then it's on to baby step #2 — paying down all your non-mortgage debt using the "debt snowball" method.
Needless to say, baby step #2 can take a while. The good news is that there's actually a way to speed up the process, but it involves bucking good old Dave's advice just a bit. Let us explain.