QuinStreet’s Post

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One of the reasons that competition is so important in financial services is that policies put in place to improve the consumer situation can often have an opposite effect vs what is desired. This is in contrast to competition, which helps the industry rapidly improve pricing and offerings. A great example is that interest rate caps typically mean that providers narrow the customer profiles to which they make their products available. This pushes those consumers that can no longer get products into unregulated markets for debt and they typically end up taking a higher rate. Suddenly an individual on the margin finds themselves in a worse financial situation. https://lnkd.in/g2XRsUpS

At 53 and 54, people have accumulated the knowledge and experience to make smart financial decisions. This is the age when adults make the fewest financial mistakes, related to things like credit-card use, interest rates and fees. According to economic researchers, people make financial mistakes at any and every age, but fewer mistakes are made at this age. In one study, economists found that adults at this age adopt the optimal strategy involving balances and purchases on credit cards. It's never too late to start making smart financial decisions, but it's good to know that the prime years for it are just around the corner. #FinanceTips #SmartDecisions #FinancialMistakes #CreditCards #shivamdwivedi

In a recent survey, respondents of all ages unanimously highlighted key financial priorities that stand the test of time. Building strong credit and avoiding debt were echoed as crucial steps, laying the groundwork for a secure retirement. Executing this advice, however, proves challenging for many. While 81% recognize the importance of paying off credit cards, nearly half admit to carrying a balance. The current economic landscape, marked by inflation and interest rate hikes, has contributed to the struggle. With credit card APRs surpassing 21%, the highest in years, financial caution is paramount. The future may bring relief, as the central bank signals a potential decrease in interest rates later this year. This could alleviate the burden of high APRs, making borrowing more affordable. However, a word of caution is in order – prudence in financial decisions is always wise to avoid potential regrets down the road. #FinancialWisdom #CreditCardDebt #DebtRelief

This is one of my favorite pieces that we produce. Leading Economic Indicators give you a true look under the hood of our economy. Liz Ann Sonders and team give some great commentary in explaining the results. Learn and Enjoy! #recession #economy #federalreserve #stockmarket

"Decoding Credit Scores, Delinquency Rates & Economic Impact" 💰🌟 🌟 Join us today as we dive into the fascinating world of finance—and it's simpler than you might think. We're breaking down key concepts: credit scores and delinquency rates. Uncover their mysteries and understand their impact on your wallet and the economy. Let's journey into financial enlightenment together! 🚀 #FinanceDemystified #CreditScores #DelinquencyImpact #FinancialInsights #Finance

Impact of Credit Card Debts on Delinquency Rates and Economies

Our latest #SmallBusiness index report states that overall lending growth has been mostly flat over the last year, while financial stress seems to slowly but steadily increase. Learn more: https://bit.ly/4ayBjSy

Being open about finances allows you to be in rooms where money conversations happen, and that's where growth begins. Remember, there's no shame in your current situation—it's all about striving for the next level. Let's break the stigma and start talking about money confidently! #MoneyTalks #FinancialSuccess #BusinessGrowth #NoShame #NextLevel #FinancialFreedom