Home Authors Megan B. Shepherd
Megan B. Shepherd

Megan B. Shepherd

Editor, Loans

Megan B. Shepherd is a personal finance editor at Finder where she helps people navigate the financial world of loans.

Her personal finance expertise has been featured on Forbes, Nasdaq, MediaFeed, Fox News, Time, Reviews.com, and carinsurance.com, adding invaluable information related to personal loans, financial strategies and smart borrowing tactics.

Megan graduated from the University of Texas at Dallas with a BS in Business Administration with an entrepreneurial focus. She's worked as a certified financial adviser and has earned certificates of completion from A.D. Banker & Company.

Expertise

  • Personal loans, business loans and home loans
  • Underwriting guidelines
  • Life, disability, car, health, accident, critical illness, dental and vision insurance
  • Policy comparison

Experience

  • Certified personal finance adviser
  • Featured on leading publications, including Forbes, Fox, Time, reviews.com, carinsurance.com and more
  • Earned certificates of completion from A.D. Banker & Company on personal finance topics

Education

  • Bachelor of Science, Business Administration with Entrepreneurial Focus | University of Texas at Dallas

Featured publications

Industry insights from Megan B. Shepherd

We asked Megan for her insights into the current state of the insurance industry — and trends she predicts for the coming year.

What are some options to borrow money quickly?

If you need quick cash you may be tempted to get a payday or installment loan, but these types of loans may charge APRs well over 700% if you consider the fees. But getting a loan through as cash advance app or online lender may be better alternative to consider. Cash advance apps offer a convenient way to borrow small amounts of money before payday without a credit check. You may be able to get a loan typically between $20 to $500 bucks each month, and without paying interest. Instead, most cash advance apps ask for a monthly fee or tip to use the service, and some apps are completely free. Plus, cash advance apps can offer funds as quick as the same business day. Online lenders may be a good option for fast money if you have a credit score of 580 or higher. In many cases, you can avoid the high rates of payday lenders or cash advance apps all together. Plus, you can get your loan funded as quickly as one business day. For example, lenders like Upstart, Upgrade or Lightstream can get you funds as soon as 1 to 3 days, and have APRs ranging from 4.66% to 35.99%. Fast loans can help you out in an emergency, but they often come with drawbacks like higher rates that can lead to a cycle of debt. If you’re in good standing with a bank or credit union, you may be able to access higher loan amounts with lower rates within a 1 to 3 business days.

The latest Federal Reserve Economic Wellbeing Report shows overall declines in self-reported financial well-being across all demographics. What is driving this trend?

The decline in financial well-being can be attributed to a combination of minimal growth in our incomes compared to rising costs, a looming reliance on credit cards, acquiring debt and rising interest rates. A look at the numbers clearly shows a deficit in the growth of how much we make compared to rising costs of basic necessities like food. According to the Bureau of Labor Statistics, the total average weekly earnings among men and women have increased about 6% over the past year, while the price index for major categories like food increased an average of 7.7%. That means, we’re making less and spending more just to get by. At the same time that we’re being pushed to rely on credit cards and loans,, we’re also seeing a rise in interest rates. That means increased borrowing costs, which results in higher monthly payments that make it even harder for people to meet their financial obligations. And, while rising interest rates are meant to stabilize the economy, it can also slow economic growth, leading to a reduction in job opportunities and stagnant wages. Now is a good time to take advantage of any money saving opportunities. For example, if you’re a good credit borrower, you can curb any high-interest debt you have by getting a debt consolidation loan that can reduce your interest charges and make your monthly budget easier to manage. While savings aren’t as big as they may have been in the past, the fixed interest rate on a debt consolidation loan protects you against rate increases.

Featured videos

Latest articles by Megan B. Shepherd

36 articles written by this author

5 mistakes to avoid when applying for a business loan

A business loan could propel your business forward, but a mistake in the process could cost you big time.

Megan B. Shepherd 13 May 2024
5 mistakes to avoid when applying for a business loan

6 Steps to get a startup business loan

Startups may have a harder time qualifying for business loans, but getting funding isn’t impossible.

Megan B. Shepherd 26 February 2024
6 Steps to get a startup business loan

5 tips for building good credit habits in 2024

Practice these 5 simple credit habits to keep your credit score soaring.

Megan B. Shepherd 16 January 2024
5 tips for building good credit habits in 2024

4 times applying for a loan online makes sense

Online loans mean fast access to cash, especially if you don’t qualify with a traditional lender.

Megan B. Shepherd 15 September 2023
4 times applying for a loan online makes sense

Are there any downsides to starting an LLC for my small business?

Starting a small business? Here are 7 disadvantages of an LLC.

Megan B. Shepherd 14 August 2023
Are there any downsides to starting an LLC for my small business?

Dayforward life insurance review

Dayforward’s innovative income-replacement life insurance product appeals to many parents seeking simple life insurance solutions.

Megan B. Shepherd 2 September 2021
Dayforward life insurance review

Life insurance for people over 60

While it's common for Americans in their 60's to either be retired or approaching retirement, there still may be some beneficial value in investing in a life insurance policy. Compare your options and learn what type of policy will most fit your needs as someone over 60.

Megan B. Shepherd 30 August 2021
Life insurance for people over 60

Best and worst states for Social Security Disability approval

Finder analyzes the easiest and hardest states to get disability in America, rating the top 5 best and worst states for disability approval.

Megan B. Shepherd 12 January 2021
Best and worst states for Social Security Disability approval

Ford Bronco car insurance rates

The Bronco’s off-roading performance may mean an increased car insurance premium. But its safety features could be an upside.

Megan B. Shepherd 10 July 2020
Ford Bronco car insurance rates

Home insurance stats

Compare home insurance risks across the US.

Megan B. Shepherd 27 September 2019
Home insurance stats
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