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The report from Moneysupermarket.com revealed that the average amount of non-mortgage debt paid off each month is GBP322 a month, around 25% of the average monthly net salary for a UK adult, while a shocking 8% claim to have spent over 80% of their wages repaying debt. And despite women having the reputation for being prolific shoppers, it is men that appear to have 15% more personal unsecured debt compared to their female counterparts – on average GBP7,944 compared to GBP6,739.

MoneySupermarket.com’s head of loans and debt, Tim Moss, said: “With the cost of living continuing to rise, consumers are feeling the squeeze on their wallets more than ever. Full Post…

For generations, the way most Americans defined success was a singular, mythic dream that included having a high-paying job, buying a home, driving a fancy car, and having a family. While that traditional American Dream isn’t dead, a recent study by MetLife reveals that our mindset has evolved into something much more complex.

I’ll tell you more about the new American Dream and give you 5 ways to build safety nets for your personal finances that give you financial security.

Our new outlook has been coined the “Do-It-Yourself (DIY) American Dream.” It’s the result of many factors, including:

• fundamental shifts in the way we view adulthood, marriage, and family
• our emphasis on social networking and sharing
• financial challenges due to the long recession

Americans are now taking longer to become financially independent. They’re s

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More than 200,000 mortgage borrowers will be entitled to a share of a $335 million settlement over alleged discriminatory lending practices by the former mega-lender Countrywide, the Justice Department has announced.

The settlement compensates African-American and Hispanic borrowers who were allegedly charged higher mortgage origination fees and interest rates than other borrowers with similar credit profiles from 2004 to 2008. It resolves a suit filed by the U.S. Justice Department claiming those borrowers were charged more due to their race or national origin, and not because they were less creditworthy or due to any other legal criteria used to assess credit risk. 

Benefits minorities pushed into subprime loans

  The Justice Department’s compliant alleged that Countrywide steered black and Hispanic borrowers into higher-priced subprime mortgages while non-Hispanic white borrowers with similar credit and financial resources obtained prime loans. The Full Post…

Robert Miller with the main City and business news as markets struggle to find an upside with German manufacturing shrinking and UK monthy retail sales falling in November; Sport Direct International sees a small dip in half time pre-tax profit but revenues rise 8.5pc to £888m; Moss Bros lifts 19 week sales by a healthy 10.5pc and Lloyds Banking Group talks to the Co-op over branch sales and chief executive Antonio Horta-Osario gets ready to return to work in January.

Hi Erica, My cat Boo is in desperate need of dental work (she needs her teeth pulled out) and the estimate the vet gave me is roughly $2,000. I don’t have nearly that amount of cash in my bank account to pay upfront and my parents won’t lend me the money. The vet was really nice though and she suggested I use their CareCredit plan. I am wondering if you think its better than putting it on my credit card. I have a card that I keep empty (I rarely use it) and I believe the interest rate is around 15 percent. Im a college student and don’t have much extra money after paying my bills so it would take me some time to repay. Im getting the surgery one way or the other, though. I’ve Full Post…