Using credit wisely can keep you from going into unmanageable debt. Learn how using credit wisely can help you when you need to buy a house, a car or other large purchase.
If a low credit score or mistakes with credit in the past are keeping you from obtaining new credit, you may be considering credit repair. Offered by for-profit companies, credit repair is a process that claims to “clean up” a consumer’s credit report by removing any incorrect negative items. Once these negative items are removed, most consum...
One of the many reasons owning a home is considered the “American dream” is because a house builds up equity over time (to estimate a home’s equity, subtract the remaining mortgage balance form the home’s market value). Home owners can then borrow against that equity to pay off debt or finance other big dreams. But it can be confusing to us...
It happens all the time. You’re buying something at a store and as you’re getting ready to pay, the cashier asks if you’d like to open the store’s credit card to save 10 (or 15 or 20) percent on your purchase — then they mention that it takes just a few seconds to apply, right there on the keypad. In some cases, you will still get the dis...
Dealing with high levels of credit card debt can be stressful and overwhelming. Simply making minimum payments on multiple accounts every month means paying off that debt for years to come. Fortunately, there are options that can help borrowers get out of debt more quickly. But not all options have a positive effect on consumers’ financial future...
When it comes to strategies for improving your credit, you’ll hear many terms used interchangeably and often, incorrectly. One of these misunderstood terms is ‘credit repair.’ Let’s take a look at what credit repair really is, and whether it’s something you can do yourself, or if it requires professional assistance. What is credi...
Debt settlement can be an appealing option to consumers struggling with high levels of credit card debt. Because it allows borrowers to pay less than the total amount they owe, they think they’re getting a better deal than if they had to pay off the debt in full. But what many don’t realize is that settling debts can have major long-term implic...
Debt settlement is one option for dealing with problem credit card debt. Consumers who choose this option work with a for-profit debt settlement company. The company negotiates with creditors to reach a settlement agreement for less than the total amount the consumer owes. During the negotiation process, the consumer opens and makes deposits into a...
If you’ve never applied for a mortgage before, you might find the process overwhelming. Because your loan provider is considering loaning you a tremendous amount of money, they will look into all aspects of your financial life to determine if they believe you are responsible enough to make your monthly payments. It can feel a little invasive, but...
If you’re a parent, you have the power to shape your children’s financial futures. From a very young age, kids see how you conduct your financial life, and will follow your lead as they start to earn, save and spend money. Be sure you are modeling the types of behaviors that will lead to your children being responsible with money. Here are five...
We talk about it all the time. You hear about it from personal finance gurus and financial planners. But what, exactly, is an emergency savings account and why do you need it? Here’s the rundown. What Emergency Savings Is An emergency savings account is money you have set aside in a liquid savings account (meaning you can deposit and withdraw m...