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Cautious Millennials are getting worse deals on loans and credit cards

No doubt that millennials are financially cautious which is a fact that could be making it much harder for this generation to get low-cost loans or credit cards.  Unlike other older generations, many millennials are reluctant to take on new debt even as their finances improve, according to research from VantageScore that was provided exclusively to USA TODAY. The problem is lenders still consider these conservative borrowers with fewer credit accounts as riskier.  As a […]

An image of hands with business credit

How to Separate Business Credit and Personal credit

Research from the Federal Reserve Bank of New York shows that more than half of small business owners who apply for a loan, fail to secure them. One of the primary reasons cited is that the businesses that apply for these loans have poor business and personal credit scores. As a business owner, you should know that keeping your business credit and personal credit and all financial information separate and well organized is essential for […]

2 Facts No One Is Telling You About Buying Your First Home

The process of buying your first home seems like a straightforward journey- look at the available listings, tour one or two homes, apply for a mortgage, get the mortgage, sign on the papers, and Voila… you are a homeowner- finally! Then you start making payments to service your mortgage, probably for the next 15 or 30 years and that is it! But, is it that easy though? Well it is not, buying your first home […]

Serial Entrepreneur Tailor Made

Anika Jackson has been a serial entrepreneur before she knew the meaning of the word, it was ingrained in her DNA from both her European/American family and her family in Asia. Growing up with an immigrant mother in an extremely middle-class household, if she wanted something, she learned the business of how to achieve it, whether going door to door to sell knickknacks or coming up with other creative strategies. In high school, this passion […]

predatory lending practices

How to Spot Predatory Lending Practices

Predatory lending practices usually involve unfair, deceptive, and sometimes abusive loan terms on the borrowers. One characteristic of predatory lending practice is that these loans will have high fees and interest rates, strip the borrower of their equity and in many cases, place a creditworthy borrower in a lower credit-rated loan– which is usually very expensive.  To sell these harmful loans, the lender applies very forceful, tactical, and aggressive sales strategies to take advantage of […]