Finance

Many people still struggling to juggle debts, but some financial aspects see improvement

Published

1 year ago

July 14, 2024

Press Room

Many people still struggling to juggle debts, but some financial aspects see improvement

Many Americans continue to struggle with credit and debt issues, but there have been some improvements in credit scoring, medical debts and other areas. Still, most people aren’t comfortable.

Americans are feeling a bit better about their finances in some ways, with recession fears abating but lingering anxiety over high prices. Debt, credit and spending issues have received a lot of attention lately in studies, surveys and other commentaries. Here are some recent perspectives:

Tips for keeping impulse purchases at bay

It’s tough for a lot of people to keep spending under control, whether its from online shopping or passing by a storefront. But financial author Sharon Lechter offers some simple tips that can help.

Lechter, who has authored 28 books including her latest, “How Money Works for Women,” starts by suggesting what she call the two-minute rule: Before making a sizable purchase, “Walk away from the item for two minutes,” she said. “If you really want it, go back and get it.” But often, a short break will be enough to cancel the urge to spend. You might even delay for 24 or 72 hours.

Another tip is to follow what she calls the one-in/one-out rule, in which you resolve to sell or donate a belonging for any new one that you acquire. This too helps to control spending while keeping clutter at bay.

“I have to force that one on myself,” said Lechter, a retired certified public accountant who lives in Scottsdale. “A lot of us tend to be hoarders.”

And rather than pull out credit cards routinely, Lecter suggests shopping with gift cards, with fixed dollar limits. For people who strive to get the best deals, she suggests using a price-tracking browser extension such as CamelCamelCamel or Honey. You might discover that an item isn’t such a bargain and doesn’t need to be bought immediately.

8 signs you’re on the right financial path

Money Management International, which helps struggling households deal with high debts, poor credit, unaffordable housing and other pressures, has put together a list of eight signs that point to financial success.

Four are obvious and deal with basic budget issues. They consist of spending less than you earn, always paying bills on time, having a minimum cash reserve (at least $500, the group recommends) and generally planning ahead to meet larger expenses without hoping for a big tax refund or other windfall.

The other indicators are more vague, such as having a sufficient amount of savings/assets, a reasonable debt load and appropriate types of insurance, without defining those terms or amounts. Also, Money Management International suggests that consumers aim for a “prime” credit score of at least 740, on the standard scale that ranges from 300 up to 850.

Enthusiasm for new loan type

Borrowers who have used Buy Now, Pay Later loans generally express satisfaction with them, according to a TransUnion survey of 1,200 consumers.

The loans are made at the point of sale to finance a one-time, unsecured purchase. Borrowers typically repay these loans in multiple, equal payments instead of a lump sum. More than 100 million consumers have used BNPL loans, and that could increase, according to TransUnion, which found that about half of nonusers are open to trying the loans if they had the potential to exert a positive impact on their credit scores.

Currently, information for most BNPLs isn’t submitted to credit reporting agencies. Yet including more of these loans would attract consumers struggling to rebuild their credit or have been left out of the system entirely, TransUnion said.

“Consumers deserve to have their BNPL credit included in their credit history, which could lead to more access to credit for a generation of consumers who have embraced BNPL as an alternative to traditional borrowing,” said Jason Laky, executive vice president and head of financial services at TransUnion.

Would $186,000 make you feel secure?

Americans indicate they would need to earn $186,000 annually to feel financially secure, based on an average of responses in a new survey by Bankrate.com. That’s slightly more than double what Americans earn on average, so there’s room for improvement.

Only one in four respondents said they are completely financially secure, down from 28% in 2023, according to the Bankrate poll. About three in 10 Americans predict they never will be secure. As for feeling rich, Americans in general figure they would need to earn about $520,000 a year to reach that level of comfort.

Rising prices have led to an “affordability crisis” that has eroded Americans’ sense of security, said Mark Hamrick, Bankrate’s senior economic analyst, in a statement. But cooling inflation and ample employment opportunities could help close the affordability gap, he added.

Medical debts show improvements

Medical debts remain a burden on millions of Americans, though not quite as much as they were previously.

In large part, a new Urban Institute study credits changes implemented by major credit bureaus to ease, though not eliminate, the problem. According to the institute, credit bureaus removed paid medical collections from credit reports and stopped reporting unpaid collections until they were at least one year old, compared to the prior grace period of six months. Also, medical debts in collection no longer are used to calculate Vantage credit scores, and medical collections below $500 no longer appear on credit reports.

“Medical debt has constituted most of the debt in collections on consumer credit reports for the past decade, lowering consumers’ credit scores and thus limiting their access to credit,” said the report’s authors. “The reporting changes have erased medical debt in collections from most consumers’ credit reports but do not affect the underlying debt consumers owe to health-care providers.”

In 2013, 19.5% of Americans had medical debt in collections. By 2023, that had fallen to 5%. Other favorable factors include fewer uninsured households and higher average incomes.

Reach the writer at russ.wiles@arizonarepublic.com.

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Finance

One.funding and MV Commercial launch MV Asset Finance

Published

4 hours ago

December 19, 2025

Press Room

One.funding and MV Commercial launch MV Asset Finance

Representatives from One.funding worked closely with MV Commercial’s team. Credit: M Isolation photo / Shutterstock.com.

One.funding has partnered with UK-based MV Commercial to introduce MV Asset Finance, which offers an alternative method for MV Commercial’s customers to secure finance, according to a LinkedIn post.

In developing MV Asset Finance, representatives from One.funding worked closely with MV Commercial’s team to better understand business priorities and the requirements of their customer base.

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According to the post, the service aims to remove friction, ensure complete transparency, and enable a seamless process from initial engagement to completion by integrating support within MV Commercial’s operations and presenting it under their brand.

MV Commercial supplies fleet solutions for vehicles within the UK.

The company’s offerings include trucks, trailers, and light commercial vehicles that are available for sale, rental, or contract hire.

Its current rental and Ready to Go fleets consist of 2,000 specialist trucks, vans, and trailers across various depots in Airdrie, Grantham, Livingston, Oxford, Haydock, and London Luton.

One.funding CEO Lee Schofield said: “At One.funding, we’ve 20 years of experience in building point-of-sale finance that fits naturally into how businesses sell. MV Asset Finance shows what’s possible when that experience is embedded into the MV Commercial journey, making it easier for their customers to keep moving and keep growing.”

A recent example involved AMK Plant & Tipper Hire, which added a DAF FAD XD450 Construction eight-by-four tipper truck to its fleet, the company’s first DAF tipper purchase.

The transaction was finalised in three weeks; MV Commercial supplied the vehicle while financing was arranged through the newly launched MV Asset Finance framework.

Finance

RFSD board approves financial assurances, reviews annual audit

Published

16 hours ago

December 18, 2025

Press Room

RFSD board approves financial assurances, reviews annual audit

The Roaring Fork School District Board of Education approved its annual financial accreditation assurances and reviewed the district’s 2024-25 audited financial statements during its meeting on Wednesday, according to a district news release.

The audit, presented by McMahan and Associates, found the district’s overall financial position to be stable and identified areas for continued improvement in internal controls and financial processes. The district’s General Fund balance remains above minimum levels required by board policy.

Chief Financial Officer Christy Chicoine said the audit reflects progress following prior concerns identified in earlier reviews.

“We have made significant improvements compared to the prior year’s audit as a Finance Department, and I am grateful for the finance team’s commitment towards those improvements as demonstrated in this audit,” Chicoine said. “While we still have work to do to continue to sustain and enhance the district’s fiscal management, the audit report indicates we are clearly headed in the right direction.”

Superintendent Anna Cole said the findings validate work undertaken over the past two years to rebuild internal systems and improve transparency.

“Over the past two years, our teams have worked diligently and transparently to rebuild internal financial systems that left the district at risk,” Cole said. “The outcomes of this audit are evidence that we are on track.”

Cole said the timing of the audit is significant as the district begins developing its budget for the 2026-27 school year and faces mounting external pressures.

“We couldn’t have stabilized internal systems at a better time,” she said. “As we begin the budgeting process for the 26/27 school year, we face external challenges like declining enrollment, instability of state and federal funding, and a rising cost of living that is outpacing staff and teacher salaries. This audit is an important confirmation that our finances are in order as we prepare to navigate oncoming challenges.”

Board President Lindsay DeFrates said the board is better positioned to plan ahead following the audit’s conclusions.

“We are grateful for the leadership of Chief Chicoine and the hard work of the district finance and human resources teams,” DeFrates said. “We are now in a much better place financially and will move forward with clarity, transparency and accountability, able to better navigate the challenges to come.”

Finance

UK’s Former Finance Minister George Osborne Joins Coinbase – Coinspeaker

Published

1 day ago

December 18, 2025

Press Room

UK’s Former Finance Minister George Osborne Joins Coinbase – Coinspeaker

Key Notes

Former UK finance minister George Osborne is joining Coinbase’s Global Advisory Council.
Osborne will focus on crypto regulation, stablecoins, and tokenized assets across the UK and EU.
The exchange is also expanding beyond crypto trading as it steps into 2026.

Coinbase has appointed former UK finance minister George Osborne as chair of its Global Advisory Council. It is clear that the American crypto exchange wants to deepen its influence with governments outside the United States.

Earlier this week, Coinbase tested the waters in India as its deal to acquire a minority stake in local crypto trading platform CoinDCX was approved by the Competition Commission of India.

https://twitter.com/CCI_India/status/2000905244080034292

Coinbase Expands Policy Reach Beyond the US

Coinbase confirmed that Osborne will take a more active role in advising on government engagement worldwide, with a focus on Britain and the European Union.

Osborne, who first joined Coinbase as an adviser in January 2024, will be based in London. He will work closely with policymakers on issues related to crypto regulation, stablecoins, and tokenized assets.

Coinbase’s chief policy officer Faryar Shirzad said the crypto exchange has already become a powerful lobbying force outside the US. In the UK, the company is pushing for clearer rules on tax treatment, stablecoin payments, and the use of tokenized assets in capital markets.

Osborne’s Background

Osborne served as the UK’s finance minister from 2010 until 2016, stepping down after the Brexit referendum. Since leaving politics, he has built a broad private-sector portfolio.

He currently chairs the British Museum, is a partner at investment bank Robey Warshaw, and leads Lingotto Investment Management.

Just days before the Coinbase announcement, OpenAI named Osborne to support its overseas data centre expansion under its global infrastructure program. His appointment to Coinbase adds crypto and blockchain policy to an already wide-ranging list of responsibilities.

Expansion Across Crypto

According to an earlier report, at its recent System Update event, Coinbase revealed plans to expand into stock trading, prediction markets, custom stablecoins, tokenization platforms, and AI-powered investment advisers.

Coinbase has already launched stock trading and prediction markets on its platform and now rivals firms such as Robinhood and eToro. The exchange has also partnered with Kalshi to offer markets tied to real-world events such as sports, elections, and economic data.

The exchange’s long-term goal is to become an all-in-one financial platform that operates around the clock.

Meanwhile, Deutsche Bank recently initiated coverage with a buy rating, according to CNBC. Analysts expect the company’s broader new everything-in-one strategy to reduce its dependence on crypto trading volumes as it scales into 2026.

Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

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A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.

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