The Latest Breaking News from CFPB

Can A New Smartphone Ruin Your Budget?

A new smartphone can quietly become a budget problem long after the excitement of opening the box disappears. The phone itself may cost hundreds or even more than $1,000, but the real strain can come from the payment plan, wireless service, accessories, insurance, and other recurring charges attached to it.

The Free Financial Advisor · Oct 3

Mortgage Rates Are Over 7%-Here’s How You Can Still Afford That House

Mortgage rates have pushed back above 7%, making the price tag on a house only part of the affordability problem. Freddie Mac reported a 7.28% average for a 30-year fixed mortgage on October 1, up from 7.03% the previous week.

The Free Financial Advisor · Oct 3

The Bank Declines a Large Purchase Even Though You Have the Money — What Happens Next?

A bank can decline a large debit-card purchase even when your account shows more than enough money to cover it. That does not necessarily mean the bank thinks you are broke. The transaction may have hit a daily purchase limit, triggered a security system, or run into a problem with…

The Free Financial Advisor · Oct 3

Your Parents Are Spending Your “Inheritance” on Travel — Do Adult Kids Have Any Right to Care?

Your parents just booked another cruise; they’re talking about spending three weeks in Europe next summer, and you’re quietly doing the math on what all...

Saving Advice · Oct 1

Carrying $10,000 on a Credit Card? Here’s What a Year of Interest Can Cost

Carrying a $10,000 credit card balance for a year can cost thousands of dollars in interest, even if the cardholder never adds another purchase. The exact amount depends on the card’s APR, payment schedule, and how the issuer calculates interest.

The Free Financial Advisor · Oct 1

The Mortgage Market Is Sending Two Opposite Signals—Here’s What Buyers Should Know

Mortgage lending is picking up, yet getting a mortgage has not necessarily become easier. That contradiction sits at the center of the housing market right now.

The Free Financial Advisor · Sep 30

Your Credit Limit Jumped to $30,000: Asking the Bank to Lower It Can Cost You Points Before a Mortgage

A credit card issuer just raised your limit to $30,000, and your first reaction might be to ask for a smaller number. That can feel sensible if a huge limit seems like an invitation to overspend, but lowering it can create a credit-score problem before a mortgage application.

The Free Financial Advisor · Sep 30

8 Signs Your Debt Is Becoming a Retirement Problem Instead of a Budget Problem

Debt becomes a retirement problem when monthly payments start affecting more than this month’s cash flow. The warning signs often appear years before retirement, through decisions that quietly reduce savings, limit flexibility, or force future income to cover yesterday’s purchases.

The Free Financial Advisor · Sep 29

Unmarried and Splitting the House: The Deed Wording That Decides Who Keeps the Equity

An unmarried couple can share a mortgage, a house, and years of payments without automatically owning the property in equal shares. The wording on the deed can determine each person’s ownership interest, which can become very consequential when the relationship ends.

Clever Dude · Sep 29

We Ran Avalanche vs. Snowball on the Same $30,000 Debt — The Cheaper Method Isn’t the One Most People Finish

The debt avalanche and debt snowball start with the same pile of $30,000, yet they attack it from completely different directions. One targets the highest interest rate first, while the other wipes out the smallest balance first.

The Free Financial Advisor · Sep 29