Kaitlyn Szabo
Managing Car Expenses
For many, cars are expensive necessities – that’s why it’s important to take time to assess your unique situation and prepare your budget for all the expenses associated with car ownership. That way, the next time your engine light brightens up, it won’t be a financial emergency because you will have money available to handle it. Read more Managing Car Expenses
March 2019 Update
Here’s how you can help stop the debt trap. House File 1501, a bi-partisan bill introduced in the Minnesota House this year, would put an interest rate cap of 36% on payday loans issued in Minnesota. This bill passed the House Commerce Committee and is awaiting a later vote by the full House. In order for Read more March 2019 Update
Anne’s Story
When Anne’s* son lost his job, she wanted to give him a helping hand. Her income didn’t have much wiggle room, so she took out a payday loan. She planned on paying it off quickly, but interest and fees soon piled up. “The interest rates, they’re over 300%! You’re so desperate that you do Read more Anne’s Story
Retirement
It is difficult to think long-term, especially for events as far away from retirement, when you are simply trying to stay on top of all your everyday affairs. That doesn’t make it any less important, though, so take some time to learn about retirement savings accounts and savings strategies. Retirement Accounts Retirement accounts are tax-advantaged holding accounts Read more Retirement
February 2019 Update
Payday Lending Reform in Minnesota On Tuesday, February 26, state legislators will hold a hearing on payday lending legislation in Minnesota, including a push for a 36% effective interest rate cap. Here is HF 1501 as introduced today↗ (opens in a new tab), regulating interest rates for consumer short-term and small loans. Exodus Lending staff and Read more February 2019 Update
January 2019 Update
Our Story: “Exodus Lending Strengthens Communities” We are honored to be a Mary’s Pence Grantee, and we love the video they’ve created highlighting our program. Hear from our executive director, Sara Nelson-Pallmeyer, about how Exodus Lending works to help Minnesotans break free from payday loan debt. “We are improving lives and creating social change by taking Read more January 2019 Update
Budgeting
Why Should I Budget? To effectively manage your finances, you need a budget. That’s what every personal finance blog, class, video, and professional will tell you. It is a fundamental component of finance, even if it isn’t all that fun. Budgeting for the first time feels intimidating and overwhelming. Where do you even begin? The Read more Budgeting
100 Enrolled in 2018!
We’ve reached 100 program enrollments in 2018! We are excited to share the news that Exodus Lending has enrolled 100 program participants in 2018 – that’s nearly double our number from last year and equivalent to two years of past enrollments! For these participants, we have refinanced more than $71,000 of payday loan debt and Read more 100 Enrolled in 2018!
December 2018 Update
Thank You! Living paycheck-to-paycheck, Jan* knew all too well that hitting unexpected bumps in the road could quickly detour her financial journey. Jan worked hard every day to support her family, and then her car broke down. Her car was her lifeline – without it, her job security, housing stability, and sense of well-being were Read more December 2018 Update
November 2018 Update
Give to the Max Day With Give to the Max Day a week away, we celebrate the season with our participant stories, as Melissa and Isabella* highlight the importance of our work – and the reasons why we need your help to reach our $12,000 goal. Melissa’s Story on Minnesota Public Radio (MPR) As Read more November 2018 Update