You can probably guess that an emergency fund is for financial emergencies just by the name. Everyone can agree that most financial challenges tend to pop up when they’re least expected. They can range from unexpected car repairs or medical expenses to a sudden job loss or a decrease in work hours.
In a roller-coaster-type fashion, consumer saving and spending have seen their ups and downs during the Covid-19 pandemic. First, when the pandemic started, not only did spending on travel come to a screeching halt, but entertainment rapidly declined, as did in-person shopping. In general, people were spending less of their money, preferring to hold onto their cash partly or fully due to the unknown.
Everyone has months where their budgets take a detour and get off track. Whether it’s because of an unexpected expense or a much-needed, unplanned vacation, a hit to your monthly budget can definitely cause stress.
Most people have multiple debts these days – ranging from credit cards and student loans to car and home loans. The thought of repaying them all can be daunting, especially if you’re only making minimum payments each month. However, there are strategies you can put into place to help organize and reduce your debt quicker.
Everyone deals with stress and anxiety. Whether it’s work-related, issues at home, health problems, or something else, stress can weigh you down emotionally and physically. While there are many solutions to help lessen the effects of anxiety, some people tend to turn to indulgences, such as emotional spending, to relieve tension in their lives.
Buying your first car is an exciting experience! After all, with your very own vehicle, you can finally experience the freedom and independence you’ve been wanting. No longer will you have to ask for rides from your friends and family or rely on ridesharing services or public transportation.
While purchasing a home is an exciting time, it’s also a significant financial investment. Before you get ahead of yourself, you must understand what lenders will be looking for when applying for a mortgage and the upfront costs of buying a home.
Taking a mortgage out is a long-term commitment. What if we told you there are some simple ways to maximize your loan payments, minimize the time it takes to pay off your mortgage, and you can save a lot of money all at the same time?
With interest rates at record lows, many are taking this opportunity to refinance their homes. One of the common questions people ask when considering a refinance is whether they should shorten or extend their mortgage term.
Mortgage down payment. It could well be the three scariest words in the home buying process. If you feel like you will never be able to buy a home because saving up the money for the down payment stumps you at every turn, you should know that you have options.
