Congress is on the verge of passing the Inflation Reduction Act of 2022. In this bill, it levies over $700 billion in new taxes and increase spending over $500 billion. Then it puts $200 billion towards “Deficit Reduction.” However, there is a lot of questionable spending. Part of this legislation includes $4 Billion for “A Study on Cow Burping.”  Not joking.

The price of automobiles over the last 18 months has skyrocketed – some over 50% in value – with the slowdown in auto manufacturing along with some other factors. However, a change is happening that could bring a lot of cars on the market. With a slowing economy, that could mean more opportunities for consumers looking to purchase a new auto.

Millions of consumers have missed payments on loans and their credit rating has taken a deep dive. The feeling is all-too-often overwhelming. Where do you start to try and rehabilitate a poor credit rating?

Everyone knows a friend or two that have invested into cryptocurrency. For the last couple on years, many investors have made some money. That has all changed recently when such investments have lost lots of value. Many young investors, dreaming of early retirement, face the recent prospects of losing all their savings from recent declines in cryptocurrencies. Finances can be very brutal.

Everyone is impacted from higher gas, food and other commodity prices. How is each consumer responding to this pressure on their finances? A number just came out that will have longer term implications for many into the future.

Over the last 15 years, the credit score has become a vital part of every consumer’s financial life. Good or bad, politicians have recently got more involved to have their impact on consumer’s credit scores. As one observer correctly pointed it out, those with higher credit ratings are losing out while those with lower credit scores are benefitting. Let's take a look.

Millions of consumers have been surprised to pull up their credit report and find a collection from a doctor showing up on their credit report. In a historic change, many of these past due bills will no longer show up on a credit report.

It takes a lot longer now to get FICO scores to show up after opening the first new account. A change in recent times from FICO requires a longer wait before a person can generate FICO Scores in their credit report.

Many realtors and brokers tell their clients to get their “Free” credit scores at Credit Karma to know their credit qualifications. The problem is, what is provided to them from the Credit Karma Credit Scores is never reliable.

A startling directive came out this week from Education Secretary Miguel Cardona. Any consumer who has defaulted on a federally-backed, privately serviced student loan will have their interest rates on their student loans dropped to 0%, and no monthly payments will need to be made to lenders for the time being.