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According to the federal government’s Truth in Lending Act (TILA), APRs are defined “as the cost of credit expressed as a yearly interest rate.” The key word being “yearly.” APR accounts for the entire cost of the loan, including all fees and interest.

If you feel like you can’t break the paycheck-to-paycheck cycle, you aren’t alone. GOBankingRates issued a report during the fall of 2017 that says nearly 60% of American workers have less than $1,000 in a savings account. Only one in four has more than $10,000 in savings.

While a budget helps keep your spending in line and tells your money what to do, it should also work to give you a life you enjoy. Keeping up with bills and saving for seasonal expenses and emergencies creates a stable and productive financial future.

Installment Loans Work "For millions of American families, living paycheck to paycheck is nothing new, and accessing credit or bank loans isn’t a real option. This means that when it comes to borrowing money, many consumers have limited choices. This problem is exacerbated as lenders face increased...