Buying a home is one of the most exciting things you will do in a lifetime! Whether you are buying your first home or you’re moving up to what will be your forever home, financial preparation is essential. It’s not even all about credit scores and down payments, though those are certainly necessary.
For most homeowners, their mortgage payment is due once a month, the same as their electric bill. However, there’s another payment option available that could significantly reduce the amount of interest you pay on your loan, called bi-weekly payments.
Life can sometimes bring you unexpected challenges, and you might find yourself desperately in need of immediate cash. While using a payday loan may seem like a viable option, these loans can quickly spin out of control and put you into even greater debt.
Let’s be honest… saving money isn’t always as easy as it sounds. You create a monthly budget and do your best to follow it, but something always pops up to throw you off track. Plus, there are only so many ways to cut back your spending.
Sometimes loans and borrowing money can have a negative connotation. The truth is that loans are powerful instruments that can drastically improve your financial standing when used properly. Whether you’re investing in yourself through higher education, purchasing a home for your family, or just need cash flow for monthly expenses, loans often make the impossible possible.
With the holidays quickly approaching, your mind is probably focused on gift lists, decorations, travel plans, and family events. But the end of the year is also the perfect time to review your loans.
The minimum payment trap with credit cards is one that can be incredibly difficult to get out of. Some might even refer to it as indentured servitude. Your best option is to avoid it altogether by never falling into it. It might be hard and will certainly require some sacrifices at first.
These days it’s easier than ever to make purchases. With most items only requiring a click, tap, or swipe of a credit card, you’re able to quickly purchase an item without ever thinking twice about it.
Credit card balance transfers can be useful when used strategically and in combination with other efforts to reduce your overall debt and total interest paid. However, depending on the situation, they may not always the best decision to assist with credit card debt.
While it may be difficult to predict exactly when you’ll encounter medical expenses, the simple fact is they are inevitable. Everyone will have to go through the stress of dealing with medical issues and the costs that come with them at some point.
