Saving for retirement is not easy, more so when you are black living in America. As African Americans age, there seems to be an array of health financial problems that converge, posing a potentially devastating impact on their well-being. Compared to the other racial groups in the country, black people are more likely to suffer medical conditions that lead to more complications and insurance as they grow older. These health problems are more exacerbated by […]
If you want to create a realistic financial routine, you need a budget. Basically, a budget is a financial summary that compares and helps you track your incomes and expenses for a set period of time, typically one month. When we talk about budgeting, people often think we are talking about restrictive spending, but that is not the case, in fact, a budget allows for more freedom in how you are spending your cash. With […]
There are two companies dominating the credit scoring industry in the US. FICO has the widest coverage and has burrowed its way through almost every kind of lending decision, most prevalently in mortgages, credit cards, and rentals. While it is true that FICO has established its dominance in the market, over the last decade, it has been challenged by the new VantageScore. VantageScore is a result of a collaboration between the three major Credit Reporting […]
Checking your credit score is extremely important. It’s a healthy lifestyle if you want to maintain your financial fitness. Regularly checking your credit scores will allow you to pick up on any mistakes that you have been making, or even help you to detect any fraudulent activity that could impact your chances of getting credit. Credit reports are usually compiled by three major credit reporting agencies; Equifax, Experian, and Transunion. It is important to note that there is no such […]
It is 2021, and everything seems to be getting back to normal. Though not over yet, the COVID-19 pandemic continues to have devastating effects on the financial health of many Americans. According to data from the labor department, the U.S job losses due to the pandemic were the highest since the Great Depression. The financial distress resulting from any disaster undoubtedly has devastating effects on Americans but in most cases, the minority communities are most […]
