Brian Acton

Learn how good debt can build assets or income, how bad debt drains cash, and when borrowing lands in a gray area

To avoid personal loan scams, never pay upfront fees, verify the lender’s license, and avoid unsolicited offers. Watch for warning signs like guaranteed approval, pressure to act quickly, and missing contact information. Legitimate lenders never charge fees before approval.

When you apply for a personal loan, the lender will ask you for several documents to confirm your identity and collect information about your finances.

Most personal loans range from $1,000 to $100,000, but the amount you qualify for depends mainly on your credit score, income, and debt-to-income ratio.

Installment loans let you borrow a lump sum and repay it through fixed monthly payments over a set period. They offer predictable costs and can help build credit, but you risk losing collateral if you can't repay secured loans.

Secured personal loans require collateral but offer easier approval and lower rates than unsecured loans. You risk losing your collateral if you default. Best for borrowers with poor credit seeking competitive rates.

A personal loan can be a smart choice if you need predictable monthly payments, want to consolidate high-interest debt, or qualify for a competitive interest rate. However, if you can’t secure a low APR, already carry significant debt, or have access to lower-cost alternatives (like a 0% balance transfer or home equity loan), a personal loan may not be the best option.

Secured personal loans are usually better if you want lower interest rates or have poor credit, but they require collateral. The right option depends on your credit score, risk tolerance, and how much you need to borrow.

Restricted stock units (RSUs) are a form of equity compensation where a company issues shares of its own stock to employees once certain conditions are met. It’s a good way for employers to attract new talent, retain employees, and motivate workers to meet their performance goals.

A plain-English guide to the new overtime deduction: who qualifies, how much you can deduct, and how to claim it.