When to consolidate your debt with a personal loan or refinancing - Business Insider

or other high-interest debts with a single, lower-interest personal loan can help you save money in a couple of ways. Between lower interest rates and a faster payback period, you could wind up saving a bundle.1. You can get a lower interest rate, is this: only consolidate if you can move your balance to a lower interest rate. Moving to a higher interest rate will cost you more in the long-term, not less.

Most personal loan interest rates are based on a combination of market interest rates and your personal credit history. If you have great credit, you can leverage it to pay off your debts at the lowest possible cost.If you have a half dozen credit card payments due every month, it's easy to miss a payment due date or make another mindless mistake.

Popular personal lenders offer fixed and flexible terms. If you can convert credit card debt into an installment loan balance, you'll know exactly when your balance will be paid off.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

How to consolidate debt: personal loans, balance transfer cards, HELOC - Business InsiderIf you're looking to consolidate debt, you have a few different options: personal loans, balance transfer cards, or home equity loans.
Source: BusinessInsider - 🏆 729. / 51 Read more »

6 mistakes I made while paying off $81,000 of student loan debt - Business InsiderI borrowed a total of $81,000 in student loans for two degrees. Over a period of nine years, I paid it all off — and it wasn't easy.
Source: BusinessInsider - 🏆 729. / 51 Read more »

New law lets you tell websites not to sell your personal data — here's how - Business InsiderA new law gives you the power to tell websites not to sell your personal data. Here's how to exercise your rights. ModiseSKD
Source: BusinessInsider - 🏆 729. / 51 Read more »

Millennials will face fewer financial struggles in 2020s, expert says - Business InsiderIn the 2010s, millennials dealt with the recession fallout and student-loan debt — but they're about to enter their prime earning years. Good luck TRUMP 4EVR Optimism
Source: BusinessInsider - 🏆 729. / 51 Read more »

Rodan + Fields lays off 15% of corporate employees - Business InsiderRodan + Fields laid off about 15% of its corporate workforce 'across all levels and departments' in early December, the company told Business Insider.
Source: BusinessInsider - 🏆 729. / 51 Read more »