Your debt-to-income ratio is a key financial measurement that lenders examine when you apply for a mortgage. If you own a home and want to refinance, you might think you donât need to worry about your DTI ratio. After all, youâre already making your mortgage payments, right?. Mortgage lenders will still look at your DTI … Read more
Using retirement savings to pay off debt can have an impact on your financial foundation now and in the future. The average full-time employed American works about 8. 5 hours a day, reads about 12 books a year, spends close to seven hours on screens per day —and has debt. In fact, if you’re like … Read more
Over the past few years, our homes and families have become more important to us than ever. Many of us have reassessed our lifestyles and priorities. Perhaps you have too, and are now looking to make a few home improvements, or help out a loved one who really needs it. We’ve put together this article … Read more
Ready to tackle your mortgage and get it paid off in 7 years? First, let’s get a few things straight: Are you ready to pay off your mortgage years early? It’s time to get smart! These tried-and-true strategies will show you how to speed up your payoff and reach financial freedom faster. Let’s get into … Read more
Leasing a vehicle has many advantages to consider but is not right for all drivers. Some drivers are better off buying. Explore the process of leasing a vehicle, and learn about the pros and cons of leasing versus buying a new car, truck, van, or SUV. Leasing a car can seem attractive with lower monthly … Read more
It is possible to have a 700 credit score when a default payment goes to collections. That being said, it’s not likely your credit score will stay at 700 once this happens. Credit scores tend to drop once there’s a report of collections. If you have ever been on the receiving end of calls from … Read more
You may be wondering if the credit card interest you pay could save you some money on your taxes. The answer depends on a number of things, such as how you use your credit card and what kinds of things you buy. Credit card interest can be confusing when it comes to taxes. You may … Read more
Having a high mortgage payment can put a strain on your monthly budget. While refinancing is often the go-to solution for lowering payments, it comes with costs and isn’t right for everyone. Fortunately, there are alternative ways to reduce your mortgage expenses without refinancing. Evaluate Options to Lower Mortgage Payments Here are 6 methods to … Read more
In terms of money, your credit score is one of the most important numbers. It changes everything, from the interest rates on loans and insurance to whether you can get an apartment. So if your score is lower than you’d like, the first thing you should do is raise it. The good news is, there … Read more
Any business that offers sales on credit runs the risk of being unable to collect on some of its debts. These uncollectable debts are known as bad debt expenses. Whenever this happens, you need to know how to properly record a bad debt expense in your books. In this article, we’ll define a bad debt … Read more