Investopedia

Personal Interest

Dictionary Says

Definition of 'Personal Interest'

Interest that taxpayers pay on personal and consumer loans. Personal interest is nondeductible, and the rates charged for this type of interest are often quite high. Personal interest that is received by the lender is usually reported on a cash basis.

Investopedia Says

Investopedia explains 'Personal Interest'

Personal interest includes interest on car loans, credit cards, loans for appliances and furniture and interest on loans made by one person to another.

Many consumers elect to take out lines of credit on the equity in their homes so that they can pay off their personal-loan balances and deduct the interest on their lines of credit instead.

Articles Of Interest

  1. A Lifeline For Those Drowning In Debt

    Don't wait to be saved, find out where the lifesaving devices are and hang on tight!
  2. Understanding Credit Card Interest

    Paying these rates can impact your disposable income and your investment returns.
  3. 9 Reasons To Say "No" To Credit

    Instead of rationalizing, learn to talk yourself out of buying things you can't afford.
  4. Digging Out Of Personal Debt

    Find out why good intentions can put consumers in an even bigger hole than before.
  5. The Best Way To Borrow

    There are many avenues from which to drum up funding. Find out the pros and cons of each.
  6. Expert Tips For Cutting Credit Card Debt

    Managing your debt could mean the difference between spending $45,000 or saving $184,000.
  7. Are credit cards and debit cards considered debt instruments?

    Consumer debt instruments allow people to borrow money at specific interest rates. In recent years, the credit industry has become very imaginative in the creation and marketing of consumer debt ...
  8. Has Income Tax Become A Class Tax On The Poor?

    With more than 33% of American families falling close to the poverty line despite their adult members holding full-time employment, a rising number of citizens are being forced to pay a rate ...
  9. Possible Effects Of The Online Retail Tax

    The U.S. Senate has passed a bill that will impose a sales tax on online retailers. Discover how the Marketplace Fairness Act could affect your bottom line.
  10. What's On A Consumer Credit Report?

    A look at the various components and considerations that go into one's credit report and credit score.
comments powered by Disqus
Marketplace
Hot Definitions
  1. Fool In The Shower

    The notion that changes or policies designed to alter the course of the economy should be done slowly, rather than all at once.
  2. Pattern Day Trader

    An SEC designation for traders who trade the same security four or more times per day (buys and sells) over a five-day period, and for whom same-day trades make up at least 6% of their activity for that period.
  3. Cost-Push Inflation

    A phenomenon in which the general price levels rise (inflation) due to increases in the cost of wages and raw materials.
  4. Happiness Economics

    The formal academic study of the relationship between individual satisfaction and economic issues, such as employment and wealth.
  5. Affluenza

    A social condition arising from the desire to be more wealthy, successful or to "keep up with the Joneses." Affluenza is symptomatic of a culture that holds up financial success as one of the highest achievements.
  6. Icarus Factor

    The term Icarus factor describes a situation where managers or executives initiate an overly ambitious project which then fails. Fueled by excitement for the project, the executives are unable to reign in their misguided enthusiasm before it is too late to avoid the failure.
Trading Center