New Financial Health Study Examines Deep Gender Gap in Financial Health with Men Nearly 50% More Likely to be Financially Healthy
Pandemic widened persistent financial health gap between men and women; Black and Latina women and low-income women fare the worst in new findings.
Innovating Against Predatory Lending Products
A majority of American payday loan borrowers make less than $30k per year and end up on average paying $520 in fees to borrow $375 over five months. Learn how DailyPay is innovating against predatory lending products. Presented by DailyPay
Is your health plan damaging your workers’ financial health & undermining your wellness efforts?
Some emerging best practices can help employers advance the financial and overall health of their workforce.
Credit card debt is getting pricier. Here’s how to pay if off.
Carrying credit card debt is getting more financially wasteful for consumers as the Federal Reserve jacks up interest rates in a bid to tame soaring inflation.
President Biden’s decision on student loan forgiveness is coming soon—what that could mean for borrowers
Millions of Americans could see their student debt wiped clean before the end of the summer — or, at least, get some more time to pay back their loans.
What’s the Difference Between Buy Now Pay Later And Credit Cards? Not Much, Experts Say
Products including the forthcoming Apple Pay Later are options for consumers looking to delay payments, but spending too much can be a problem.
After integrating Afterpay with Square Cash App and Seller ecosystems, in-store sales are up 384%
On May 17, Square announced that it will be extending Afterpay’s BNPL services to its in-store merchants in the United States and Australia. This news comes a mere 3 months after Block’s acquisition of Afterpay, which is aimed at introducing BNPL capabilities across all of Block’s online commerce and in-person sales ecosystem.
Revolving debt’s challenge to financial health and one way to help consumers pay it off
Credit cards offer consumers convenience as both a payment vehicle and a source of short-term credit. Revolving credit permits consumers to enjoy immediate purchase of goods and services (in the absence of funds or in lieu of tapping savings), to make large ticket purchases without having to save for them in advance, and to smooth consumption in the face of short-term income and expense shocks.
Fintechs focus on supporting people caught in the justice system
Individuals who spend time in prison can experience devastating financial consequences at every turn. They may struggle with the cost of posting bail, lose wages while incarcerated and watch debt snowball with legal fees and fines.
Medical Debt Is Hurting Your Employees – Here’s How To Help
As the debt crisis deepens, investing in the financial health of their workforces can yield big benefits for both employers and employees.
Understanding and evaluating earned wage access solutions
Earned Wage Access — also known as earned wage advance or on-demand pay — has steadily grown. As recently as 2020, nearly 55.8 million individuals were using some EWA solutions, as there are both employer provided and direct to consumer options. As EWA solutions have grown in popularity, there has been a steady stream of questions as some employers remain skeptical about the utility and benefit of EWA products. While there are certainly questions that need further investigation, it does appear that EWA solutions are here to stay.
Cutting overdraft fees could save Americans $17 billion a year—but banks are slow to make changes
Over a decade since the Occupy Wall Street movement took over New York City’s financial district to protest banks’ greed and growing wealth inequality, Americans are actually paying less for their banking.