Entries by Elyssa Carlos

Renting vs. Buying a Home

With interest rates at their highest levels in over a decade, the question of renting versus buying a home has become a hot topic. Choosing which option works best for you will depend on different factors like your financial situation, lifestyle, and goals.   Renting a Home  Renting offers many benefits. It allows greater flexibility […]

Paying Off Debt vs. Saving

One of the top financial questions asked is “Should I put my extra money toward paying off my debt or savings?” The answer can vary depending on your current financial situation and the current state of the economy. In any case, it is important to find a balance between the two. Priority #1: Build Up […]

Credit Card Mistakes to Avoid

Credit cards are usually the first step to establishing credit. Without this first step, it would be nearly impossible to qualify for larger purchases, like auto loans, mortgages, and more. While it’s true that credit cards have become almost a necessity in our financial growth or even survival, misuse of them can lead to a huge financial burden. […]

How to Create a Debt Elimination Plan

There is no one-size-fits-all debt elimination plan. There are several strategies that can be useful when trying to pay down debt under your current financial situation. Here is a brief overview of these strategies that can help you determine the best way to create your own debt elimination plan.   Debt Snowball  The debt snowball strategy […]

Increasing Debt in Younger Creditors

It’s not news that as of late income levels have not been enough to cover the rising costs of living. This has prevented individuals and families from savings, investing, and building wealth overall. Even worse, it has led to an increase in total non-mortgage debt among younger creditors, especially those in their 20s and 30s. […]

Immigrants & Unsecured Debt

Exploring how U.S. consumers utilize credit can be indicative of the economy as a whole, especially when looking closely at the behaviors of immigrants in the country. Recent studies have found that immigrants have the tendency to be underbanked, in other words, they are less inclined to have unsecured debt such as loans that are […]

Inflation vs. Recession: What’s the Difference?

During economic discussion, we hear the terms “inflation” and “recession” quite often. While the two terms are often assumed to be similar, or steppingstones for each other, they actually have opposite effects on the economy.   Inflation  Inflation occurs when prices of goods and services increase over time.  Put simply, inflation is the reason a gallon […]