Getting ready to purchase a home? Buying a house is likely the biggest purchase you’ll make during your lifetime. It’s also one of the most complicated ones. Your realtor or mortgage consultant will probably use terminology that may sound like a foreign language. Understanding those terms will not only give you peace of mind, but can help you save you money on your big purchase. Continue reading “Understanding Mortgages”
There are two components to responsible credit card use: spending wisely, and paying wisely. Doing both is important because these habits will affect your ability to be approved for other forms of credit later in life, including loans for buying a house or a car.
Deciding which car to buy is a larger decision than choosing a brand and model. You must also decide between buying and leasing, and if you decide to buy, you have a choice between a new and a used car. Choosing between buying and leasing depends, among other things, on your financial situation and whether you keep your cars for a long time. If you decide to buy, you will either buy a new or a used car. Again, this decision depends on your finances, whether you would receive any rebates or cost breaks with a new car, and other factors.
Credit Basics – What it is, why it’s so important
As a college student, you have probably received offers for credit cards. If you have graduated, the number of credit card offers has probably continued, if not increased. Exactly what is credit and why is it important? In this section you will find out the answers to these questions:
What exactly is credit?
What are the benefits of credit?
What is the difference between a credit and a debit card?
What is good credit?
How is credit established?
How can good credit be maintained?
You are entitled to one free credit report from each of the three credit reporting agencies each year. You can do this by visiting www.annualcreditreport.com. This is the only authorized free credit report service. All others are impostors. Although you can request all three reports at the same time, you can monitor your credit more frequently by spacing the reports throughout the year. Additionally, if you are turned down for credit, insurance, or employment, you are eligible for an additional free report from the agency they consulted. To request this report, contact the appropriate agency within 60 days. Continue reading “Credit Report Basics”
Saving for retirement seems like a long way off. But the truth of the matter is, you will retire one day and you will have to provide for yourself and possibly others. The more you prepare and start to save, the better off you will be. If you start young, you could even have million dollars saved up by the time you retire. It can be confusing to get started, and a new survey from Charles Schwab shows that you are not alone in your confusion.
You got your first job out of college and if you nailed the job before graduation you are probably feeling pretty good about life after college. You decide to live with some other grads in order to save some money. You have no more homework, you are all grown up and independent and ready to conquer the new job. But wait, you have to pay bills, buy groceries, regularly buy gas to drive to work and find nice furniture for the apartment. And, don’t forget that student loan payments will be starting soon.
Learning how to live on a budget is something many people face for the first time when they graduate from college or enter into the adult world of full time jobs and apartment leases. It can be overwhelming, but learning early how to live on a budget can be one of your most valuable life skills.
Knowledge is Power