Personal finance expert Dave Ramsey says most people run into financial trouble because they fail to do basic math before making purchases and end up paying for those mistakes later. Discussing common financial mistakes on "The Ramsey Show," he said not doing basic math before major financial decisions leads to trouble regardless of age, income, race, or where you live. "We get ourselves in trouble when we don’t bother and do the math before we do the transaction," Ramsey said. "Adults devise a plan and ...

Core Insights - The case of Miranda McWhorter illustrates the rapid escalation of financial issues when debt collection lawsuits are ignored, leading to a default judgment of $12,849 against her [1][2] Group 1: Debt Collection Trends - Debt collection lawsuits in the U.S. have surged back to pre-pandemic levels, reaching approximately 4.7 million cases per year [3] - Many consumers fail to respond to debt lawsuits, resulting in default judgments becoming extremely common, which complicates future negotiations [4] - Creditors are increasingly utilizing AI and automation to identify overdue accounts and file lawsuits at scale, making the process faster and cheaper for them [4] Group 2: Consumer Behavior and Impact - The rise in credit card debt is significant, with U.S. credit card balances increasing by roughly 5.75% from the previous year, driven by inflation and rising interest rates [6] - Consumers often experience anxiety and confusion when served with legal papers regarding debt, as evidenced by reactions shared on platforms like Reddit [5]

Sometimes you just need a fresh start. For many people, the new year represents exactly that: a time to wipe your slate clean, reset intentions, and start building new habits. Does that mean you can reset your credit scores in the new year and start fresh? Unfortunately, credit scores don’t “reset.” In fact, many people will see their credit scores drop in the new year due to debt they took on during the holidays. But that doesn't mean you're stuck with bad credit forever. Credit scores are shaped by lon ...

Key takeaways Unsecured loans are debt products that do not require collateral but may come with higher interest rates and stricter credit requirements. There are various unsecured loans, including personal loans, student loans, and credit cards. When determining eligibility for an unsecured loan, lenders will consider factors such as credit history, income and debt-to-income ratio. Unsecured loans are offered by banks, credit unions and online lenders. Unlike secured loans, they’re not backed by ...

Those with excellent credit often get the lender’s lowest rates. These can be under 7%, depending on the lender.Of course, rates vary depending on your credit score, and the loan amount and term length. But if you have average credit or better, you’ll likely get a lower interest rate with a debt consolidation loan than what you’re currently paying on your credit card.As of December 2025, the average credit card rate is 19.72%. Meanwhile, the average personal loan rate is 12.21%.Bankrate’s take: Consolidatin ...

Key Takeaways MELI's credit book remains early in seasoning, raising default volatility as portfolios mature into 2026.Macro strain adds risk: Argentina inflation hit 31.4%, and Mexico's 2026 GDP outlook was cut to 1.5%.MELI's funding costs rose in Argentina as election-driven volatility weighed on risk-adjusted returns.MercadoLibre (MELI) enters 2026 with a credit profile that is materially exposed to borrower stress, funding cost swings and macro volatility, as lending expansion becomes the dominant drive ...

Financial fraud is a problem in general, although, as a consumer, you may be at risk of greater losses if your debit card or checking account is targeted.Read more: Warren Buffett used 8 solid, repeatable money rules to turn $9,800 into a $150B fortune. Start using them today to get rich (and stay rich) ’The Independent Community Bankers of America has been working with the U.S. Postal Inspection Service to educate customers on check fraud via handouts at different banking locations.Of course, debit card fr ...

Core Insights - The recent depreciation of the rupee to 90 against the US Dollar highlights the importance of selecting the right travel card to manage foreign spending effectively [1][19] - A forex card allows users to preload foreign currency, securing the exchange rate in advance, while a credit card converts INR at the current rate, exposing users to exchange rate fluctuations [2][19] Exchange Rate Impact - If planning to spend $1,000, the budget can be significantly affected by the rupee's exchange rate fluctuations, with potential costs ranging from Rs 86,000 to Rs 94,000 depending on appreciation or depreciation [3][19] - The table illustrates that a depreciation of the rupee results in an additional cost of Rs 4,000, while appreciation leads to savings of Rs 4,000 [3] Forex Card vs Credit Card - Forex cards are ideal for travelers who want to stick to a fixed budget, as they allow preloading of funds, while credit cards may lead to overspending due to higher credit limits [16][20] - Credit cards may be more suitable when foreign exchange markups are low or when they offer strong rewards [17][20] Zero Forex Markup Cards - Many cards claim "zero forex markup," but the distinction between interbank rates and platform rates (like Visa) can significantly impact costs [4][5][19] - Cards that claim zero markup may still use network forex rates, which can be up to 1% higher than actual interbank rates, leading to higher final costs [7][19] Product Comparisons - IDFC FIRST Bank's FIRST WOW! Black credit card offers zero forex markup on network exchange rates, which may carry high currency risk due to INR fluctuations [10][20] - DCB Niyo secured credit card also offers zero forex markup on Visa's exchange rate and includes tiered rewards, making it attractive for new-to-credit customers [12][13][20] - BookMyForex's multi-currency forex card uses live interbank rates and allows users to load multiple currencies, providing zero currency fluctuation risk during travel [14][15][20]

Holiday spending often winds up costing a lot more than people expect. Travel, gifts, food, and year-end commitments can add up fast. The good news is you can tap into several banking and rewards strategies this month to boost your holiday funds without stressing your regular budget. With a few strategic steps, you can combine these tools and create a meaningful cushion to see yourself through the peak spending season. 1. Open a new bank account with a cash bonus Banks often compete for new customers ...

The latest phase of the banking giant's long-term turnaround could lead to another year of strong returns.After becoming CEO of Citigroup (C +1.07%) in 2021, Jane Fraser began implementing a turnaround of the well-known bank and financial services institution. While it has taken several years to bear fruit, Citi's revamp, which entailed heavy layoffs and other costly restructuring efforts, finally started leading to improved financial results.In turn, shares in the money center bank, previously a long-term ...