Hey, Your LetmePayday Newsletter For 19 July 2022

This is your Newsletter. [LPB]( [LPL]( [LetmePayday Newsletter]( You Might Like     [Learn more about Jeeng](  [Why a 2022 Recession Would Be Unlike Any Other]( [Why a 2022 Recession Would Be Unlike Any Other]( Is the U.S. in a recession? Many economists think that’s a possibility and by some measurements, it may have already started. But why aren’t people losing their jobs? Recessions usually come with a dip in economic output and a rise in unemployment. Right now, economic output is falling. But so is unemployment. [[icon] Watch HereÂ](  [Get the money you need](   [US economy records fastest price increase in over 40 years](  [US economy records fastest price increase in over 40 years]( A new inflation report released Wednesday showed prices in June soared 9.1% compared to a year ago, the largest 12-month increase since December 1981. [[icon] Watch HereÂ](   [How Income Affects Your Credit Score](  [How Income Affects Your Credit Score]( Your credit score and income are both important for getting a loan, but lenders typically view these factors separately. That’s significant because people often assume that their income is part of their credit score. After all, a higher salary means more money is available each month to repay those loans, and that’s what lenders want. Your income does not directly affect your credit score, but it does affect your ability to qualify for a loan. Lenders approve loans based on several factors, including your earnings and your credit score, but those are separate pieces of the puzzle. When we refer to credit scores here, we’re talking about the most commonly used scores. Your FICO score is often used for home and auto loans. VantageScores are also popular with lenders. Other credit scoring models may use your income as part of your score, so it’s critical to understand who wants your score and what type of credit scores they use. [[icon] Read MoreÂ](  You Might Like     [Learn more about Jeeng]( Connect with LetmePayday on Social Media Pages [Facebook]( [Linkedin](    [Unsubscribe](