Financial News Features

“Sometimes, these offers only apply if you use the check to transfer a balance to that particular card,” “If you deposit the check into your bank account, you could be paying upwards of 20% interest plus fees.”

“If you’re fed up with bank fees, you’ll really hate P2P loans,” “On top of the interest rate you’ll pay, there’s the origination fee, which can be as low as 1 percent but as high as 8 percent. That’s much more than a bank or credit union will charge you for a personal loan.”

“You should talk about money, lifestyle, goals and dreams,” he said. “Because (money) affects your dreams, and if you go into a relationship with debt, your dreams may be altered.”

“They’re not usually the type to download the latest hot app, but they have become more comfortable with online budgeting programs that safely do the heavy lifting for you,” said Dvorkin. “Many banks and credit unions are also getting in on the act, offering many budgeting tools on their websites. There’s literally no excuse for not budgeting — because a computer will do the math for you.”

“If you're forced to take a loan out right now, it probably should be a variable, in my opinion,” says Howard Dvorkin, founder of Debt.com.