Connect with us

CBS News

9/4: CBS News 24/7 Episode 2

Avatar

Published

on


9/4: CBS News 24/7 Episode 2 – CBS News


Watch CBS News



Four dead, multiple injured in high school shooting in Winder, Georgia.

Be the first to know

Get browser notifications for breaking news, live events, and exclusive reporting.




Read the original article

Leave your vote

Continue Reading

CBS News

7 reasons to consolidate your credit card debt this holiday season

Avatar

Published

on


Christmas online shopping . Female buyer with laptop, prepare to xmas eve, sitting among gifts boxes and packages. Winter holidays sales
Consolidating your credit card debt this holiday season could be a smart move for a few different reasons.

Getty Images/iStockphoto


With the holiday season underway, millions of Americans are grappling with an unprecedented level of credit card debt, which has surged beyond $1.17 trillion nationwide. This staggering figure isn’t just a number — it represents countless families struggling under the weight of high-rate debt, with the average cardholder owing approximately $8,000 on their credit cards before even starting their holiday shopping. And with average credit card interest rates sitting above 23%, many households are at risk of being trapped in an increasingly difficult financial situation.

Part of the issue is that a combination of rising interest rates, inflation-driven spending increases and a traditional surge in holiday expenses is creating a perfect storm for even more credit card debt accumulation. With delinquency rates climbing and more cardholders maxing out their credit limits, the need for strategic financial management is becoming increasingly urgent. Add in the holiday season, which is traditionally associated with increased spending, and it presents both challenges and opportunities for those seeking to regain control of their financial future.

For example, taking advantage of credit card debt consolidation could offer relief from the burden of high-rate debt. By combining multiple credit card balances into a single loan with a lower interest rate, borrowers can potentially save thousands of dollars in interest charges — and there are some compelling reasons to pursue this type of debt relief during this holiday season in particular.

Find out how to get rid of your credit card debt now.

7 reasons to consolidate your credit card debt this holiday season

If you’re dealing with high-rate credit card debt, here’s why you may want to consider consolidating your credit card debt right now.

To take advantage of seasonal offers 

Many banks and credit unions will roll out special promotions during the holiday season, including low-interest personal loans or 0% APR balance transfer offers — both of which can be used to consolidate multiple credit card debts into one lower-cost borrowing option. Many of these offers come with terms that can help you save significantly, especially if you act before the new year when rates and terms might change. By acting during this period, you can potentially secure more favorable terms than at other times of the year — but you’ll need to take advantage of them before they expire.

Take advantage of what debt relief can offer you now.

To get ahead of holiday spending 

Consolidating your existing debt before the holiday shopping season allows you to enter this high-spending period with a clear financial strategy. By securing a fixed-rate consolidation loan or balance transfer card, you can better manage your existing debt while maintaining separate tracking of any new holiday expenses. This separation helps prevent the common problem of combining pre-holiday debt with new seasonal charges, which often leads to confusion and financial stress.

To improve your cash flow 

The holidays come with a long list of expenses, from travel to gifts and special meals. Consolidating your credit card debt can reduce your monthly payment by spreading the repayment over a longer term or securing a lower interest rate. This extra breathing room in your budget can help you handle holiday costs without resorting to even more credit card spending, which could exacerbate your financial situation. It’s a proactive step that ensures you’re not stretched too thin during a time of year when cash flow matters most.

To avoid maxing out your credit cards

A maxed-out credit card can hurt your credit utilization ratio, which is a key factor in your credit score. High utilization signals to lenders that you may be overextended financially. Consolidating your debt allows you to pay off your credit card balances in full, freeing up your credit limit. This not only improves your credit score but also provides a safety net for unexpected expenses that might arise during the holidays, such as last-minute travel changes or emergency repairs.

To reduce financial stress

The mental toll of juggling multiple credit card payments, high rates and mounting balances can overshadow the joy of the holidays. But debt consolidation provides a clear, manageable path forward, allowing you to focus on enjoying time with family and friends instead of worrying about your finances. When your debt feels under control, it’s easier to maintain a positive outlook and fully engage in the holiday spirit.

To set yourself up for financial success in the new year

Starting January with a clear plan to tackle your debt can set the tone for a financially healthy year. By consolidating your credit card balances now, you can enter the new year with lower monthly payments, reduced interest rates and a realistic timeline for becoming debt-free. This proactive approach makes it easier to stick to your financial resolutions and avoid the post-holiday “debt hangover” that many people experience.

To avoid the snowball effect of credit card debt

Holiday spending on top of existing credit card debt can create a dangerous cycle. As balances increase, so do interest charges, making it harder to pay down what you owe. Debt consolidation halts this snowball effect by combining balances into a single, lower-interest loan or program. This enables you to make real progress on your debt without falling further behind due to compounding interest.

The bottom line

Debt consolidation can be an effective tool for managing credit card debt and taking advantage of what it offers this holiday season could have a big impact on your finances. By making this move now, you have an excellent opportunity to reassess your financial priorities and implement positive changes that can lead to long-term financial stability in the new year. Remember, though, that it’s essential to combine this strategy with sustainable spending habits and a solid budgeting plan. 



Read the original article

Leave your vote

Continue Reading

CBS News

Details on person of interest in UnitedHealthcare CEO shooting

Avatar

Published

on


Details on person of interest in UnitedHealthcare CEO shooting – CBS News


Watch CBS News



A multistate manhunt is in its third day after the murder of UnitedHealthcare CEO Brian Thompson outside a New York City hotel Wednesday. CBS News’ Anna Schecter has the latest on the case.

Be the first to know

Get browser notifications for breaking news, live events, and exclusive reporting.




Read the original article

Leave your vote

Continue Reading

CBS News

Catholic nun arrested by Italian police for bringing mafia messages to prisoners

Avatar

Published

on


A Catholic nun was arrested by Italian police on Thursday for bringing messages for the mafia to prisoners, police said in a news statement. 

Sister Anna Donelli acted on several occasions as an intermediary between the Mafia and prisoners, according to the Italian news media. The criminal group used “the support of trusted and unsuspected people,” the police statement said, and persuaded the nun to take “advantage of the spiritual assignment” in which she had free access to the prison and inmates to bring the messages. 

The Public Prosecutor’s Office of Brescia started a sweeping investigation in September 2020  that led to the arrest of Donelli and 24 others. Police also arrested on Thursday residents in the provinces of Brescia, Milan, Reggio Calabria, Como, Lecco, Varese, Viterbo, and in Spain. 

During the massive operation police seized assets of over 1,800,000 euros and arrested two politicians. The police did not release the names of the politicians but said their arrests showed the ongoing links between the powerful mafia and elected officials. 

Police said the suspects engaged in mafia activities such as extortion, arms and drug trafficking, receiving stolen goods, usury and political-mafia electoral exchange. Suspects were linked to a criminal association of ‘ndrangheta origin, originally from Sant’Eufemia d’Aspromonte (RC), based for years in the Brescia province and then linked to the “Alvaro” gang.

Italian authorities have worked to crack down on mafia activities for decades — often to barely scratch the surface of the seemingly endless flow of mafia activity within the country. Last year Italian courts convicted 207 people and sentenced them to a combined 2,100 years in prison on charges related to their membership in Italy’s ‘ndrangheta organized crime syndicate.

In March Italy decided to expand a controversial program to remove children from their mafia families to break the cycle of criminal behavior being passed down to new generations.



Read the original article

Leave your vote

Continue Reading

Copyright © 2024 Breaking MN

Log In

Forgot password?

Forgot password?

Enter your account data and we will send you a link to reset your password.

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

Add to Collection

No Collections

Here you'll find all collections you've created before.