Vaccinations are some of the most valuable contributions to modern medicine. They have drastically reduced the prevalence of certain diseases, including polio, tetanus, measles and chicken pox. One disease, smallpox, has even been eradicated completely, with no natural cases since 1977. Now, as the COVID-19 pandemic ravages the U.S., the race to develop a vaccine quickly – but with a high efficacy – is well underway. It’s likely that we could have a COVID-19 vaccine available to the public by next year.
Unfortunately, even if we develop an effective vaccine to combat the pandemic, it will have a reduced impact if people don’t choose to get it. According to Gallup, 35 percent of Americans would not get a COVID-19 vaccine, even if it were free.
A no credit check loan is a type of loan that does not require a hard inquiry into your credit report during the application process. That means your credit history is not a factor in approval for the loan. Loans with no credit check do not guarantee approval, though. Whether or not you qualify depends on other things, like income or collateral to secure the loan, instead.
A car insurance deductible is the amount of money you’ll pay out of pocket before your insurance company pays the rest of a claim, up to the policy’s pre-set coverage limit. For example, imagine that you have a $500 deductible and a claim for $1,500 to repair your car after you hit someone’s mailbox. You file a claim with your insurance company, which reviews and (hopefully) approves coverage for the full amount, minus your deductible. Then you pay the $500 deductible, and your insurance company covers the remaining $1,000 balance.
The same is true if your claim is $5,000 – you pay $500, and your insurance company pays for the rest. If your claim is $400, however, the whole repair bill is your responsibility. Your insurance company isn’t responsible for paying any bills that don’t exceed your deductible. In most cases, the insurance company will write you or your mechanic a check for the claim amount minus the deductible.
A credit-builder loan is a loan whose only purpose is to help you increase your credit score. Credit-builder loans function the complete opposite way of a regular loan – you pay money to the lender in installments (which go into a savings account), and then you receive the money at the end. During the process, the lender reports your payments to the credit bureaus to help you build credit. Think of it is as a series of savings deposits that help improve your credit standing. However, you’ll owe the lender interest, and may need to pay a fee to open an account.
In contrast, a regular loan gives you a lump sum of money upfront, and then you pay that money back over a specified period of time. Unlike most personal loans, credit-builder loans are open to people who have no credit or even bad credit. This is because the lender doesn’t have much risk since they hold the savings account until you finish paying.
Average car insurance rates range from $1,424 per year for drivers who are 65 years old to a high of $7,001 per year for drivers who are 16 years old. Car insurance rates vary so much by age group because some groups are statistically more risky to insure than others, due to a higher likelihood of accidents and expensive claims.
The youngest drivers tend to have the most traffic incidents and display more reckless behavior than older drivers. They are the most expensive to insure, on average, as a result. Prices drop off for adults all the way into middle age, as they gain more experience behind the wheel and get into fewer accidents compared to teenagers. This trend continues until drivers reach their seventies, at which point costs begin to rise again.
The best places to get a personal loan are banks, credit unions and online lenders. The best place for you to get your personal loan is whichever lender will approve you for the best package of key terms: loan amount, interest rate, repayment period and fees. You can get a sense of which lender that will be by comparing personal loan offers and checking for pre-qualification, both of which are free and will not affect your credit.
The best place to get a personal loan won’t be the same for everyone. Each type of lender has its own pros and cons.
Car insurance provides financial protection for drivers in case of injury or property damage. Each driver buys a policy from a car insurance company, which promises set levels of coverage in the event of an accident. Car insurance may provide payouts for the driver’s vehicle repairs and medical bills, along with any damage that the insured driver or vehicle might cause to other people or property. The policy’s coverage requirements and costs vary by state and from driver to driver, depending on certain factors like the person’s age, zip code and driving record.
There are many types of car insurance available to drivers, but most of them are optional. You pick the areas of coverage that you want and the amount of coverage in each category. You also choose your deductible, which is the amount that you’re responsible for paying when you make a car insurance claim (your insurance company pays whatever is left). Most policies offer coverage for six months or one year at a time, and you can pay for them in a variety of ways: up front, on a monthly basis, or in several installments over the course of your policy.
Americans began 2020 owing more than $1 trillion in credit card debt after a $76.7 billion net increase during 2019. Consumers quickly changed course, however, posting the biggest first-quarter credit card debt paydown ever, at $60 billion. This was followed by another record in Q2, when consumers payed down $58 billion more in credit card debt. Although first quarter paydowns are normal, Q2 2020 marks the first time in more than 30 years that credit card debt has dropped from April through June.
As a result, WalletHub now projects that U.S. consumers will end the year with a slight reduction in credit card debt for the first time since the end of the Great Recession in 2009. Below, you can learn more about the current credit card debt landscape, including which states paid down the most, according to the latest data available from TransUnion and the Federal Reserve.
The American narrative is a story of diversity. Our history tells of many different peoples coming together from every walk of life to form what is today a complex tapestry of backgrounds. Our story will continue to advance that narrative in the decades to come. The U.S. Census Bureau predicts that by 2044 the U.S. will no longer have a single ethnic majority, currently non-Hispanic whites, and will grow increasingly more diverse in the years to follow.
This year, racial diversity has had a prominent place in the news, as widespread protests that began with a focus on police brutality sparked larger conversations on various forms of racial inequality. But while discussions on race are important, U.S. diversity spans far more than just racial lines. The U.S. population reflects a mix of not just races and ethnicities but also cultures, religions, economic statuses, educational backgrounds and other characteristics. These groups come together in everyday life, influencing and experiencing one another. However, some elements of society aren’t as diverse as others. For example, there are only 37 women among the CEOs of fortune 500 companies, and around 84 percent of those companies’ board members are white (including men and women).
The COVID-19 pandemic is one of the biggest public health crises the U.S. has ever faced, but it has been almost as devastating to Americans’ finances as it has to their health. Between hospital bills and sky-high unemployment, the pandemic has put millions of Americans in financial distress. While the CARES Act helped mitigate some of that damage earlier in the year, the lack of a new bipartisan deal has left many people wondering how they will meet their financial obligations.
In order to shed light on the financial troubles experienced by people across the U.S., and to show where those difficulties are most pronounced, WalletHub compared the 50 states and the District of Columbia across nine key metrics. Our data set includes factors like the average credit score, the change in the number of bankruptcy filings between January and July, and the share of people with accounts in distress. WalletHub defines an account in distress as one which either is in forbearance or has its payments deferred. Read on for the results, a comparison of red states and blue states, and a complete description of our methodology.
Nearly 10 percent of U.S. households do not own a car, according to a 2014 study by the University of Michigan Transportation Research Institute. In major cities such as New York, Boston, Philadelphia, and Washington, a third or more of households are car-free. Are you part of this trend?
If so, you may still need to drive a car from time to time. And, by getting behind the wheel, you may be opening yourself up to a great deal of liability if you don’t have the proper insurance coverage.
The Verdict: A Walmart® Credit Card would make a fine addition to your wallet if you already pump your gas at Walmart stations, or if you’re shopping at Walmart store, Walmart.com and in the Walmart app (including grocery pickup and delivery). That’s because Walmart plastic provides terms valuable enough to distinguish it from your average general-purpose credit card.
You see, Walmart actually offers two different credit cards: a Mastercard that can be used pretty much anywhere plastic is accepted around the world and a store card that works only at Walmart. But you can’t apply for either offer specifically. You simply have to submit an application for a Walmart credit card and let the cards’ issuer decide if you can be trusted to make non-Walmart charges. You generally need good credit to get the Walmart® Credit Card and fair credit to get the Walmart® Store Card.
Collision insurance covers some or all of your car repair or replacement costs if you are in an accident with another vehicle or drive into an object such as a tree, building, or telephone pole. It also covers damage from accidents where no other car or object is involved, such as if you roll over or flip your car. Collision insurance is one of five basic types of car insurance coverage.
No state requires the purchase of collision coverage, but auto loan lenders and leasing companies will usually require you to purchase both collision and comprehensive insurance coverage. Insurance companies typically sell these two policies as a package, but drivers should note when comparing comprehensive and collision coverage that they protect against different forms of damage. The main distinction between these two types of insurance is that collision coverage is for damage resulting from an accident, while comprehensive insurance covers damage from other events, such as a severe storm or a break-in.
After putting in decades of hard work, we naturally expect to have financial security in our golden years. But not all Americans can look forward to a relaxing retirement. According to the Employee Benefit Research Institute’s 2020 Retirement Confidence Survey, 6 in 10 workers reported feeling at least somewhat confident that they will have enough money to retire comfortably, but only 24 percent said they were “very confident.”
If so many American workers are worried about their financial future, what other options provide a pathway to a comfortable retirement? For some, the only solution is to keep working. According to Gallup polling, workers in 2019 planned to retire at age 65 on average, compared to age 60 in 1995. The alternative? Relocate to an area where you can stretch your dollar without sacrificing your lifestyle.
Few things are as important to your insurance rates as your driving record and the points against you. Michael Barry of the Insurance Information Institute points out that your driving record is an important factor in how much you pay for auto insurance, and he advises drivers to periodically obtain a copy. A driver’s license check is easily obtained, often for about $10 or less. It’s usually accessible online, and checking your record may reveal errors.
Below, we’ll help you understand why it’s important, what to look for, and what you can do if you find problems.
The COVID-19 pandemic has been disastrous for U.S. employment, but with the country partially reopened, the job market is showing signs of healing. The national unemployment rate is currently at 10.2%, which is 31% lower than the peak of 14.7% during the height of the pandemic. However, future growth might be slowed by the fact that many states have either paused their reopening processes or even reinstituted some restrictions they previously lifted. It will likely take a long time for the unemployment rate to return to the historic low it experienced prior to the coronavirus crisis. Some cities’ jobs have weathered the storm better than others, though.
In order to identify where workers have been most affected by the coronavirus pandemic, WalletHub compared 180 cities based on three key metrics. We looked at the change in each city’s unemployment rate during the latest month for which we have data (July 2020) compared to July 2019 and January 2020. We also considered each city’s overall unemployment rate. Read on for the results, additional commentary from a panel of experts and a full description of our methodology.
Bodily injury liability is coverage that helps you pay for another person’s injuries in a car accident for which you are found to be at fault. It is one of two types of liability auto insurance. The other, property damage liability coverage, pays for damage you may cause to the other driver’s car. Some minimum amount of both types of liability car insurance is typically required by states.
Let’s take a closer look at exactly how bodily injury liability insurance works, what it covers, and how much you need.
Most Americans rely on cars to get around, as “87 percent of daily trips take place in personal vehicles,” according to the Bureau of Transportation Statistics. In addition, during the COVID-19 pandemic, fear of public transportation has led to more reliance on personal vehicles than usual. Due to the pandemic, 20 percent of people who don’t own a car are considering buying one.
While driving offers a more isolated commute, it is often a major hassle and expense. Drivers annually spend an average of more than 310 hours on the road. That’s nearly 13 days. Add the costs of wasted time and fuel due to traffic congestions, and our collective tab comes to about $1,400 per driver each year.
You can book a hotel room with either a credit card or a debit card in most cases. Many hotel chains will also accept prepaid cards, though they are more likely to do so at check-in or check-out than at the time of booking.
Typically, you cannot make a hotel reservation with cash, a personal check or a money order. These payment options are usually reserved for paying your final bill, as hotels generally require a payment card to secure your reservation and will often require a deposit on that card. This deposit, applied as a hold on your payment account, is typically for hundreds of dollars more than the daily price of your room. Most often, the hold will include the total cost of the room for however many nights you plan to stay, plus taxes and “incidental fees,” which cover room service, the minibar, on-demand movies and any damage to the hotel room.
Yes. You can buy a money order with a credit card as well as with a debit card, check or bank transfer. Western Union and 7-11 are two notable examples of merchants that allow you to buy a money order with a credit card.
Unless credit is your only option and sending money is a necessity, however, buying a money order with a credit card is probably not going to be the best move for your wallet. Credit card companies consider the purchase of a money order to be the equivalent of a cash advance, so the transaction will trigger an expensive fee as well as the immediate accrual of a high interest rate.