Consumer Finance Blog

Advice, tips, and insights for the average consumer
What does it mean to be financially literate? BudgetCredit CardsDebt Relief ProgramsFinancial AdviceFinancial TipsPersonal FinanceSaving MoneyUnsecured Debt

What does it mean to be financially literate?

Being financially literate means having a basic understanding of how money works and how to manage it effectively. It involves knowing how to create and follow a budget, how to save money, and how to invest wisely.  Financial literacy also involves understanding financial concepts such as interest rates, credit scores,…
Consumer First Financial
April 28, 2023
How do creditors and collectors find debtors? CollectionsDebt Relief ProgramsDebt SettlementFinancial AdviceFinancial TipsGet Out of DebtUnsecured Debt

How Do Creditors Find You? The Tricks of the Collections Industry.

I changed my contact information, how do creditors find me? In today's digital age, creditors and collectors are increasingly turning to sophisticated technologies to locate debtors and collect unpaid debts. With advancements in skip tracing software, automated dialing systems, location tracking tools, and social media monitoring, these collection agencies are…
Consumer First Financial
March 24, 2023
How to calculate your debt-to-income ratio. BudgetBuying PowercreditDebt Relief ProgramsFinancial AdviceFinancial TipsGet Out of DebtPersonal FinanceUnsecured Debt

Debt-to-Income: Is it as important as a credit score?

What is debt-to-income, and how do I calculate it? Debt-to-income (DTI) ratio is a financial metric that compares an individual's total monthly debt payments to their gross monthly income. It is used to evaluate an individual's ability to manage their debt and is an important factor that lenders consider when…
Consumer First Financial
December 29, 2022
Consumer Creditcredit cardCredit CardsDebt Relief ProgramsDebt SettlementFinancial AdvicePersonal FinanceUnsecured Debt

The High Interest Debt Trap: Minimum Payments for Life.

High interest debt is great for your creditors, but not for you. Once a month, your credit card bill shows up. Depending on if you have this cost covered in your budget, sometimes it’s a surprise. Consumers have shifted over the years to using credit cards as cash, accounting for…
Consumer First Financial
December 20, 2022
Americans have credit card debt. Consumer CreditCredit CardsCredit ScoreDebt Relief ProgramsFinancial AdviceFinancial TipsPersonal FinanceUnsecured Debt

Americans Have Credit Card Debt. A Lot of It.

American’s Average Credit Card Debt: How Do You Measure Up?  Despite minor growth in household income levels over the past few years, Americans are still largely burdened by consumer debt. This is by and large due to student loans, mortgage and of course, credit card debt.  According to the Wall…
Consumer First Financial
April 24, 2020
Minimum credit card payments. Credit CardsCredit ScoreDebt Relief ProgramsDebt SettlementFinancial TipsGet Out of DebtPersonal FinanceUnsecured Debt

Making minimum payments on your credit card is like treading water.

The Real Cost of Making Minimum Payments on Your Credit Cards Like any rational consumer, minimizing loss and maximizing gains is the ultimate goal for your finances. A credit card can easily give you a false sense of security, emboldening you to spend when you should be saving. A creditor…
Consumer First Financial
March 10, 2020
7 ways to get your credit card debt under control BankruptcyConsumer CreditCredit CardsCredit ScoreDebt Relief ProgramsFinancial AdviceFinancial TipsGet Out of DebtUnsecured Debt

Get Your Credit Card Debt Under Control With These 7 tips.

How do you know when your credit card debt is out of control? Some consumers consider their credit cards disposable income. In other cases, we put our basic necessities on credit cards just to get by. There’s a variety of reasons why we find ourselves stuck in high interest debt.…
Consumer First Financial
August 26, 2019