Hot Money Topics of 2020

Wowza! 2020 — the year that couldn’t end soon enough. And while most minds were monopolized by the pandemic and erratic news headlines, we still had households to run, kids to raise, mouths to feed and bills to pay.

In the midst of it all, one fact stood out for us at OneMain: Our readers — you! — are still focused, curious and driven to improve your financial well-being. You turned to us for answers about everything from how to get fast cash in an emergency to ways to pay off credit card debt.

Here’s what other readers wanted to know. Maybe you have similar questions, too.

	How to pay off credit card debt. This article offers strategies, tools and solutions to help you establish a plan for success and pick a method that works for you.
	What is collateral and how does it work? One of the most important concepts to understand when borrowing money. This article explains why some loans require it and others don’t, offers common examples of acceptable collateral, describes the benefits of using it and helps you decide whether using collateral is right for you.
	What is an installment loan? Learn how installment loans work, the pros and cons, how they’re different from credit cards, how to get one and what you need to know before you borrow.
	What’s the difference between APR and interest rate? Great question — and it’s something everyone wants to know. We demystify the question and explain how (and why) they’re not the same thing.
	What’s the difference between a secured and unsecured loan? (Hint: If you read the collateral article first, you’ll be a step ahead of this question.) This article describes both loans and how they’re different, as well as what you need to know before you borrow.
	How do personal loans affect my taxes? Good news! Personal loans don’t affect the taxes of most people. But there are some instances to be aware of. This article is for you if you want to feel more confident as you roll into tax season.
	Home equity loans vs. personal loans: what’s the difference? Here, you’ll learn which loan may be better for your particular needs. This article uncovers both the similarities and differences, how each loan works and how the use of collateral plays into each.
	How does credit utilization work? And what the heck is credit utilization, anyway? Behind its big name is a surprisingly simple definition — but one that’s crucial to understanding how it affects your credit score and, in the end, how you qualify to borrow money.
	Ways to get cash fast in an emergency. When life delivers financial strain, bills and other expenses don’t go away. This article offers five responsible solutions to help you find the money you need to cover the necessities.
	How daily simple interest works. If you think it sounds like math, you’re right! But fear not, this article does a great job of explaining daily simple interest, well, simply. Plus, it includes a downloadable worksheet to help you understand it even better.

Speaking of downloadable worksheets, we offer all kinds of learning opportunities and methods, because, hey — not everyone likes to read articles. In 2020, our readers also took advantage of short, interactive, financial wellness courses on topics like budgeting for families, identity protection, debt management, building emergency savings and more. They tried our financial calculators and downloaded guidebooks provided by the Consumer Financial Protection Bureau.

You can find all this and more here — and start your journey through 2021 with the knowledge that can help build confidence and good financial health.