October 12, 2020

Financial Planning Tips for the Idyllic Winter Vacation

Financial Planning Tips for the Idyllic Winter Vacation

With summer coming to an end and the first autumn breeze being felt, many people will begin to look forward to the upcoming holidays and for some, holiday travel. Winter vacations are becoming increasingly popular thanks to lower costs and less crowded destinations. So how can you plan for your winter trip without your wallet feeling the burden?
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September 19, 2020

How to Register & Vote: 2020 U.S. Elections

How to Register & Vote: 2020 U.S. Elections

At SoLo, our goal is to build a healthy, successful community of members where everyone can win together. Allowing our voices to be heard through voting is a key building block of this goal, which is why we’re organized some information on how to vote in the 2020 U.S. Election.
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September 9, 2020

What You Need to Know: Insurance Basics

What You Need to Know: Insurance Basics

Your 20s are a time of exciting change and opportunity for many people, but among the less exciting things you must do is make decisions about insurance. While it might not be the best part of adulting, it’s a critical part, so let’s take a look at what you need to know.
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September 3, 2020

SoLo Funds vs Payday Loans: 4 Reasons SoLo is Better

SoLo Funds vs Payday Loans: 4 Reasons SoLo is Better

Taking a short-term loan is often a stressful experience, and it can be an expensive one too. SoLo’s mission is to empower underbanked individuals by offering affordable options for short-term loans that have never been available before. Read on to find out how SoLo is disrupting the payday lending industry through a more modern, convenient, socially responsible lending service.
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August 22, 2020

Save More with These 4 Digital Minimalism Tips

Save More with These 4 Digital Minimalism Tips

Digital Minimalism is practiced in two primary ways: intentional use and digital decluttering. A Digital Minimalist does away with mindless scrolling, social media checking, and video streaming that could result from routine email checking. Read on to find out 4 ways you can use these practices to save yourself some cash.
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June 16, 2020

SoLo Funds & Kiva – Partnering to Strengthen the Capital Ladder for Financially-Excluded Americans

SoLo Funds & Kiva – Partnering to Strengthen the Capital Ladder for Financially-Excluded Americans

For the lowest-income individuals, it’s disproportionately expensive to borrow money. With predatory interest rates and unattainable criteria, getting a loan in America is a defeating — if not dangerous — process for many. Tackling the same problem through two different solutions, SoLo Funds and Kiva offer affordable loan products - one of personal lending, one of business lending.
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June 11, 2020

5 Ways Millennials are Saving Money

5 Ways Millennials are Saving Money

Millennials are famously mistrustful of big banks and stock markets, having grown up on corruption and crashes. There's certainly something to it, but what these characterizations tend to miss is that many in the millennial generation have learned to cope with their relative financial misfortune in effective and informative ways. Inside are five particular ways in which millennials are saving money.
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May 31, 2020

Aging in Place: Key Financial Considerations

Aging in Place: Key Financial Considerations

Roughly 6 in 10 American adults are living with a chronic health condition and 4 in 10 have at least two, according to the Centers for Disease Control and Prevention. This leaves many unable to work and puts their financial security at risk. By financially planning for a chronic or other health condition, you and your family can mitigate some of the stress that comes with it, so that you can focus on what really matters.
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May 19, 2020

How to Plan for Healthcare Costs Like an Expert

How to Plan for Healthcare Costs Like an Expert

When it comes to financial planning, only one in four Americans have an actual plan, according to Charles Schwab’s Modern Wealth Index. Yet, financial planning is a crucial part of better money management for everyone. Recent research has shown that as much as 25 percent of Americans are missing out on medical help because of affordability. So how can we plan for our personal and financial wellness?
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May 4, 2020

9 Ways to Set Children Up for Lifelong Financial Success

9 Ways to Set Children Up for Lifelong Financial Success

It’s never too early to start teaching your child about money, because let’s face it: it’s a huge component of our daily lives. Teaching your child about money management and savings from an early age can help give them the upper hand. It will help them develop good money habits while also teaching them important life skills along the way. Here are some ways you can help set your child up for a lifetime of financial success.
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April 13, 2020

5 Simple Habits That Will Save You Money

5 Simple Habits That Will Save You Money

Looking for increased financial security? We’ve got 5 tips to help you get there.
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March 23, 2020

5 Ways to Protect Your Online Banking & Finances

5 Ways to Protect Your Online Banking & Finances

Besides the convenience and time benefits of these innovations in personal finance, mobile and online banking can also increase the confidence and knowledge small business owners have about their financial health. However, even with all the benefits that employing mobile/online banking can provide, it can also come with increased vulnerability if you do not take proper precautions. So how can we all stay safe?
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March 2, 2020

COVID-19 and Your Finances

COVID-19 and Your Finances

Over the past few weeks, the severity of the COVID-19 situation has rapidly increased in the US, causing dramatic ripple effects throughout the country, from mega-corporations all the way down to individuals. As businesses have temporarily shuttered and layoffs have proliferated across the country, we’ve gathered some of the most pertinent information here to help support you through this challenging and unpredictable chapter in our history.
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February 19, 2020

What You Need to Know About Interest Rates

What You Need to Know About Interest Rates

These days, the average American has about $38,000 in personal debt. While debt is not necessarily always a bad thing, it does come with extra costs than can certainly add up over time — and this comes in the form of interest. So how can you use interest to your advantage?
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January 23, 2020

Early Retirement: Organizing Your Finances to Get There

Early Retirement: Organizing Your Finances to Get There

The most common age to retire is 62, but with some smart saving and investing, it is possible to retire years earlier. This allows you to lower your stress levels by having more free time to do the things you enjoy. At the same time, retiring early doesn’t mean slowing down. So, what steps do you need to make this dream a reality?
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December 30, 2019

Rent or Buy? 3 Situations Where Renting May Be Preferable

Rent or Buy? 3 Situations Where Renting May Be Preferable

Those espousing the conventional wisdom of real estate will generally tell you that it is better to own a home than rent one, but every rule - including an unwritten dictum like this one - has exceptions. To aid in your efforts at deciding how exactly to go about acquiring your next home, let's take a closer look at the pros and cons of each approach.
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December 19, 2019

Why You Should Start a Sinking Fund

Why You Should Start a Sinking Fund

Sinking funds are a great tool to get your life on track. Money doesn’t come easy, and debt can, unfortunately, be easy to come by. Over time, the interest earned on debt can become a nerve-racking expense hanging over your head. Read on to find out how to save your way to your next car, vacation, or education!
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December 10, 2019

Tips for Getting a Loan Approved Following Bankruptcy

Tips for Getting a Loan Approved Following Bankruptcy

Although filing for bankruptcy is a way out of drowning in overwhelming debt, it usually has dire repercussions on your credit score, thereby harming your chances of getting approved for loans. This is, however, not to mean you cannot get loans after filing for bankruptcy. Read on to find out what things you can do to ensure you get approved for a loan in this situation.
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November 6, 2019

How to Talk About Money with Your Significant Other

How to Talk About Money with Your Significant Other

Many people try to avoid talking about money as long as they can. With someone as important as your significant other, though, this can turn out to be disastrous. Discussing your financial life and goals can help both of you plan better for the future, especially if you live together (or ever plan to do so). Read on for a few tips for on how to navigate your discussion in a productive and respectful way.
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October 19, 2019

4 Key Tips for Moving on a Budget

4 Key Tips for Moving on a Budget

Looking to make a move, but strapped for cash? There are a host of things you can do to make sure you don’t break the bank before relocating. SoLo is here to offer our best tips for a smooth and efficient move that is conscious of your wallet.
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September 26, 2019

The Rise of Alternative & Peer-to-Peer (P2P) Lending

The Rise of Alternative & Peer-to-Peer (P2P) Lending

There are many different financial options on the market — home loans, car loans, student loans, borrowed capital to get a small business off the ground — and without them, so many essential transactions and businesses struggle to take shape. However, most of these options only help companies or individuals making large purchases. For decades, banks and other traditional financial institutions have held a virtual stranglehold on the lending landscape, but that’s all changing as services such as SoLo Funds use the power of peer-to-peer lending to give individuals access to emergency funds at the tap of a button.
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August 22, 2019

Cars: Leasing vs. Buying

Cars: Leasing vs. Buying

Getting ahold of your first new car is undeniably exciting. It's also a serious commitment. Most people don’t have the liquid capital to buy the vehicle outright with their cash on hand, meaning there’s two choices as for payment - financing or leasing. Historically, financing has been the more common choice as opposed to leasing, but in this day and age the decision may not be quite as clear-cut. We’ll take you through the ins and outs of both possibilities to help determine what makes the most sense for your financial situation.
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August 2, 2019

Pros & Cons – Secured Credit Cards

Pros & Cons – Secured Credit Cards

What is a secured card anyways? A secured credit card is largely similar to prepaid debit: Both are issued by traditional creditors and require an upfront investment by their users. By depositing funds from a non-credit bank account (or, in prepaid debit's case, cash or check at your bank's branch), you provide the financial institution collateral that eliminates or mitigates their risk. Read on to find out more about this unique type of credit option.
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July 19, 2019

Ethical Considerations in the Fintech World

Ethical Considerations in the Fintech World

Technology has changed the world in many ways over the past few decades, and the financial sector has been one area that has seen some of the greatest leaps forward. Not only are old processes and schools of thought being upgraded to modern standards of speed and convenience, but entirely new products and markets have emerged. However, with all these changes come new questions of ethics and responsibility. So where does that leave fintech products and companies?
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June 28, 2019

What is SoLo Funds?

What is SoLo Funds?

New to lending on the SoLo app? Our Marketplace is a platform that empowers lenders to utilize a portion of their uninvested savings in an unconventional way. We have seen accomplished lenders use our platform for many reasons since our launch in 2018— the two main ones being to help others and to enjoy a good financial return. The most successful power-lenders on SoLo have maintained a portfolio with limited defaults, and we connected with some of them to gather their best tips and strategies to guide you as you begin your lending journey.
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June 24, 2019

An Essential Guide to Renter’s Insurance

An Essential Guide to Renter’s Insurance

Renting can sometimes be considered more of a young person's living strategy - those from early college age into their late 20s - but data from the Pew Research Center makes it clear that things aren't nearly so cut and dried. As of 2016, 43.3 million people referring to themselves as heads of household (which includes single individuals) for U.S. Census Bureau questionnaires said they rented their residences. Percentage-wise, that comes out to 36.6 percent, which is close to the all-time-high 1967 figure of exactly 37 percent. Additionally, renting rates are up among demographic groups traditionally viewed as homeowners, such as middle-aged adults. All told, renting in America is on a significant upward trajectory.
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June 19, 2019

4 Top Guidelines for Successful Lending on SoLo Funds

4 Top Guidelines for Successful Lending on SoLo Funds

New to lending on the SoLo app? Our Marketplace is a platform that empowers lenders to utilize a portion of their uninvested savings in an unconventional way.
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June 11, 2019

Choosing the Best Credit Card for Your Needs

Choosing the Best Credit Card for Your Needs

Ah, credit cards: So attractive at first, so complicated later on - at least, if you're not careful in choosing the exact best card for your particular situation.
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