News
Stories and news from Exodus Lending and the financial industry
November 2020 Update
Why Give to the Max for Exodus Lending? We’ll let Reuben explain: “It was just so wonderful what you did.” Following retirement from a forty-year teaching career and his wife’s death, Reuben* found himself turning to payday loans for their convenience. “It’s an easy, quick access to cash. Then, of course, that builds up.” “If Read more November 2020 Update
Pet Expenses
Pets are a significant part of our lives; pet owners often want to give them the best, but the prices of medical check-ups, grooming, and food are eye-popping! Here are some resources and tips on how to save money in various aspects of pet care, so you can give your furry family member the best Read more Pet Expenses
Reuben’s Story
Following retirement from a forty-year teaching career and his wife’s death, Reuben found himself turning to payday loans for their convenience.* “It’s an easy, quick access to cash. Then, of course, that builds up. And you now have a financial problem, ’cause you have several of those.” “If you get several of these [loans], then Read more Reuben’s Story
October 2020 Update
An Update on Our COVID-19 Response Thanks to a generous donation designated exclusively to provide direct relief to participants, Exodus Lending helped 241 Minnesotans impacted negatively by COVID-19. Since May, Exodus Lending covered $27,476 of loan payments for 190 participants and distributed $71,400 worth grants of up to $500 each to 156 individuals. Through these Read more October 2020 Update
Energy Efficiency and Weatherization
If you’d like to bring down your utility bills and make your home more environmentally friendly, it’s essential to think about your home’s energy efficiency. Energy efficiency generally refers to how well something uses energy. The home uses energy in many different ways, such as heating and cooling. In other words, the more efficiently your Read more Energy Efficiency and Weatherization
2020 Theater of Public Policy Announcement
Exodus Lending and The Theater of Public Policy are hosting a FREE live virtual event on Thursday, October 8th, at 7 p.m. Will we see you there? Firstly, the evening will begin on Zoom at 7 p.m. with a brief conversation between our executive director, Sara Nelson-Pallmeyer, and The Theater of Public Policy’s host and Read more 2020 Theater of Public Policy Announcement
September 2020 Update
$1,000,000 Saved! That’s right. Exodus Lending estimates our program has saved participants more than $1 million in interest and fees that they might have otherwise paid to predatory lenders over a year’s entrapment. “This is a major milestone for Exodus Lending. The fact that our program participants were able to, collectively, use a million dollars Read more September 2020 Update
Sinking Funds
A sinking fund is a budget category or savings strategy used to cover a planned and expected, but irregular and non-monthly, expense. Unlike an emergency fund where you don’t know when, how much, or if you’ll need the money, a sinking fund is a savings plan for expenses you’ll have within the next year. Some Read more Sinking Funds
Grocery Shopping
During the COVID-19 pandemic, many of us are trying to stretch our limited income as far as possible. One way to do so is to save money while grocery shopping. Here are some ideas on how you can cut down on your food costs. Preparing to Shop Before you set foot in the store, plan Read more Grocery Shopping
August 2020 Update
Help us Spread the Word! Exodus Lending is a nonprofit dedicated to helping Minnesotans break free from predatory debt through interest-free refinancing. You know that (of course), we know that (duh), but the question is… who doesn’t know? And how can we help spread the word about what we do? We are always looking for Read more August 2020 Update