Personal

When to use a personal loan over a credit card

Make sure you know when a personal loan will offer better solutions for your financial needs than a credit card. (iStock)

Sometimes it’s tough to know whether a credit card or a personal loan is the right choice for your current situation. While both options have their own pros and cons, usually a personal loan is a better solution. 

Credit cards offer a revolving line of credit, which means you can access funds whenever you have available credit. Still, they often come with higher interest rates, and the monthly payments vary. 

Personal loans offer a one-time lump sum

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Personal Finance: Fintech Apps Like Robinhood Are Leaving Women Behind

Technology was supposed to broaden access to financial services and help eliminate economic inequalities. But so far the explosion of banking and investment apps has failed to narrow one persistent divide: the gender gap in financial inclusion. Policy makers should take note. In the post-pandemic recovery, they cannot entrust the market forces of fintech to support female economic empowerment.

There are many ways in which women’s financial inclusion lags that of men. They own fewer assets than men, for example, but they are also less likely to invest in riskier, higher-yielding assets, such as equities. A 2019 analysis by

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Ignoring a Common Personal Finance Rule Is Helping Me Save

As someone who has experimented with many different budgeting methods — the guilt-free budget, zero-sum budget, and the 50/30/20 budget, to name a few — I had pretty much given up on maintaining a strict budget and keeping a close watch on my spending. It felt tedious, time-consuming, and at the end of the day, what really mattered was staying on top of savings goals. 

That is until my friend Ari, who is a financial coach, suggested that we all should budget weekly, not monthly. Ari, who is a self-described reformed party boy who once went on mini spending

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