While it’s important to begin building your credit early, it’s even more important to build it responsibly. As early as 18, you’ll start to receive credit card offers. While these offers can be tempting, understanding all the details before accepting them is crucial.
It’s always a good plan to set some money aside to use as a down payment when financing a new or “new to you” car. As a general rule, you’ll want to pay 20 percent of the vehicle’s value as a down payment for a new car and 10 percent as a down payment for a used vehicle.
Purchasing a vehicle is a significant financial decision. Right now, we are in what is known as a low-rate environment, which means we are paying less interest on the auto loans that we take out. However, interest isn’t the only thing that affects our monthly car payment.
That new car smell can be absolutely intoxicating, and the comfortable driver's seat can entice you to lay out your entire savings into a new vehicle purchase. However, the sticker shock can quickly bring you back down to financial reality.
The time has come! You’ve saved for your down-payment. You’ve triple-checked your finances and know your available monthly budget. You even found the perfect car online. Excitement is in the air, along with that new-car smell. And…you’re walking into a trap!
When you receive your tax refund, learning how to spend it wisely is your best bet. But you should also learn some of the ways you shouldn't be using it. Below, we've provided you with ideas on how to use your IRS tax refund and some ways you should avoid.
Just like with anything else in life, your personality can also dictate your response to money. Understanding your money personality is your first step in shaping your approach to saving, spending, and investing.
It seems nowadays just about anything can be delivered right to your doorstep. And with grocery stores and restaurants jumping into the game, you may be wondering why you’d ever leave the house other than for work!
Imagine jumping down into a hole, only to realize you cannot figure out how to get back out. This is often how debt works. If you are not paying close attention from the beginning, you might end up stuck with payments you cannot handle.
Are you thinking about expanding your family with a pet? Before you head to a local animal shelter or start browsing pet stores, it's a good idea to consider the financial commitment adding a new member to your family brings.
