Kendall Meade | Source | CERTIFIED FINANCIAL PLANNER™ at SoFi
Kendall Meade
Kendall is a CFP® at SoFi and spends her time working with members one-on-one, leading financial education events, and engaging with the media on personal finance topics. Prior to joining SoFi, Kendall was part of the private wealth management group at Robert W.Baird & Co. She is a CERTIFIED FINANCIAL PLANNER ™ professional and a CERTIFIED FINANCIAL THERAPIST.
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SoFi (http://www.sofi.com)
CERTIFIED FINANCIAL PLANNER™
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SoFi CFP Kendall Meade on Smart Personal Loan Choices
Kendall advises considering factors beyond interest rates, such as fees and loan terms, to ensure affordability. She recommends using personal loans for debt consolidation or essential purchases, avoiding non-essential expenses. Comparing all financial options is crucial; sometimes home equity may be a better choice. Personal loans can be beneficial if they offer lower interest rates and manageable monthly payments. -
SoFi CFP Kendall Meade Offers Insights on Consolidation Loans for Bad Credit
Kendall advises considering personal loans with soft credit inquiries if the interest rate is lower than your credit cards. She emphasizes differentiating between consolidation loans and debt settlement programs due to their varying impacts on credit scores. Knowing a lender's reputation is crucial to avoid high fees. Improving credit before taking a loan can be beneficial if it leads to lower interest rates. -
How to Dispute Credit Card Charges: Expert Tips from SoFi's Kendall Meade
Kendall advises disputing any fraudulent charges, including incorrect amounts or undelivered items. If you find unrecognized charges, check with others who have access to the card, then contact your credit card company. To catch fraud early, regularly monitor your account or set up text/push notifications for immediate alerts.
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Take all benefits into account. These benefits, particularly for those that take a pay cut in a new job, may range from new health insurance costs to getting an employer match in your 401(k) program. It could be that you end up getting better, or lower cost, benefits and that offsets some of the income you will be losing. From here, you can get an idea of what changes you will have to make to balance your budget. You can start by focusing on the discretionary spending, but ultimately if you are taking a significant pay cut, stopping your Netflix subscription and skipping Starbucks may not be enough.
