Smart Spending Tips examines how Trump tariffs may strain household budgets, change credit behavior, and influence your credit score in unexpected ways. The link between Trump tariffs and your credit score At first glance, Trump tariffs and your credit score might seem unrelated. One involves international trade policy, and the other involves your personal financial reputation. But when tariffs raise prices on everyday goods, many consumers feel it in their wallets. Over time, those higher costs can influence how people use credit, and that is where things start to connect. Tariffs raise prices, not just headlines New Trump administration tariffs…

Smart Spending Tips explores what a rare consumer debt decline in February 2025 really means, and why this slight improvement may signal bigger financial trouble ahead. The latest consumer credit data delivered a rare twist: in February, total non-mortgage consumer debt dipped. After years of steady increases, any decline might seem like a welcome change. But zoom in, and the picture gets murkier. This small drop is less a sign of financial strength than a warning flag. With delinquencies rising and consumers leaning on high-cost debt, the story behind this dip reveals mounting pressure in American household finances. Rare decline…

Smart Spending Tips offers tips on how to manage your credit during economic uncertainty by using proactive strategies that help protect your score and access to credit. Economic ups and downs have been making headlines lately, with new tariffs, market swings, and rising costs putting extra pressure on household budgets. When inflation climbs or interest rates shift, your credit can be affected, sometimes in ways you don’t expect. Staying ahead of these changes starts with understanding how they might reach your wallet. Managing credit during economic uncertainty is about more than just paying bills on time. It means watching how…

Smart Spending Tips explains how global market chaos, triggered by new tariffs and economic uncertainty, could put your credit at risk in unexpected ways. A sharp drop in the stock market and international backlash to U.S. tariff policies have reminded consumers that financial turbulence does not stop at national borders. Whether it’s higher prices on imported goods or a sudden change in lending behavior, global decisions can shape your personal finances more than you might expect. Understanding how international developments translate to your credit score can help you respond calmly and confidently when the headlines get overwhelming. Here is what…

Smart Spending Tips looks at the looming credit score bump reversal and what it could mean for student loan borrowers. The government did more than pause student loan payments during the pandemic. It also effectively gave many student loan borrowers a bump in their credit scores. Now comes the bad news. Student loan forbearance programs expired last fall. Researchers at the Federal Reserve Bank of New York estimate that many borrowers who are behind on payments or in default will see those issues appear on their credit reports in the first quarter of this year. So, goodbye credit score bump.…

Smart Spending Tips explains how to get debt under control, ease money-related anxiety, and take steps that could support your credit health over time. Living with debt can take a toll on more than your bank account. It can create ongoing stress, keep you up at night, and make it harder to plan for the future. But even if your situation feels overwhelming, there are ways to reduce the pressure. These 10 practical steps may help you get debt under control — and in the process, bring more peace of mind. As a bonus, some of these changes might also…

Smart Spending Tips discusses the rise in missed debt payments and growing concerns about credit access and financial stability. A recent survey found a big jump in the probability that consumers will miss a minimum debt payment over the next three months. If that happens, it could disrupt the economy, tighten credit availability, and significantly impact credit scores. Beyond these big-picture effects, missed payments can create a financial crisis for any household. Rather than wait for trouble to escalate, it is better to take action before it gets out of control. Missed debt payment risk highest since April 2020 The…

Smart Spending Tips explains how a good credit score can save money and improve your personal financial outlook. 1. Lower interest rates on loans One of the clearest benefits of strong credit is qualifying for lower interest rates. Borrowers with high credit scores generally receive better loan offers, potentially saving thousands over the life of a loan. For example, someone with excellent credit could pay significantly less on a mortgage or auto loan than someone with fair or poor credit. 2. Reduced insurance premiums Insurance companies often review credit scores when setting your premiums. Maintaining good credit may lead to…

Smart Spending Tips examines how falling consumer confidence is shaping financial decisions. Consumers are much less confident than they were a couple of months ago. How they act on their growing fears could determine the economy’s direction. Every month, the University of Michigan publishes an Index of Consumer Sentiment. As the name suggests, this measures how consumers feel about the economy and its impact on their finances. Economists and investors closely watch this index to see whether consumers are confident, fearful, or somewhere in between. The latest reading of the Index of Consumer Sentiment shows a sharp drop in confidence…

Smart Spending Tips explores how credit scores and dementia may be connected. A new study suggests declining credit habits could be an early warning sign of cognitive decline. Discussion of credit scores often centers on young people starting to build credit or people trying to rebuild credit after financial trouble. However, a new study shows that credit scores can also be important as an indicator of mental health as people grow older. The study found that missed payments and declining credit scores can be early warning signs of Alzheimer’s disease and other forms of dementia. That means monitoring credit scores…