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How To Get A Business Loan In 6 Steps

Savings Corner

To find out whether your business can afford a loan, many lenders will use something called a debt service coverage ratio (DSCR). DSCR = annual net operating income / total annual debt, including principal and interest Many lenders won’t consider any business with a DSCR below 1.25, and the higher the number, the stronger you look.

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How to Manage Your Personal Loan

Savings Corner

The worst-case scenario is that you get a loan without a clear picture of its impact on your monthly cash flow, leading you to take on more debt to make up for it. Consolidation puts all of your debts together under one monthly payment at one interest rate.

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It’s Easy To Make A Million Dollars

Prairie Eco-Thrifter

You must control your debt. If you want to be worth a million dollars (without winning the lottery, inheriting a fortune or robbing a bank), you need to keep at it, for a really long time. You must persist in living below your means to stay out of debt and save. You may be building your own business. Persistence.

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Meet a Reader | Mary from Reflections Around the Campfire

The Frugal Girl

We lived off my salary and banked Alan’s even before we were married so that we could build our own house (literally), paying cash as we went. He says we were busy building the house and our careers and it was money well spent because it freed up our time. (We What’s your best frugal win? Alan doesn’t share that regret.

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Create a Personal Escrow Fund | 31 Days to Organize Your Finances

Family Balance Sheet

We’ll talk about cash flow, budgets, debts, and all of the nitty gritty of our finances that might not be fun to talk about, but are so important to discuss. Does your property tax bill give you anxiety? property & school taxes – due yearly. Do you go into panic mode when your car insurance bill arrives?

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Personal Loan Calculator – NerdWallet

Savings Corner

Good-credit borrowers with low debt-to-income ratios often get the lowest rates. Monthly payment: On-time personal loan payments help you build credit, while late and missed payments hurt it. Lenders determine your rate using your credit profile and history, income and existing debts. Enter your interest rate.

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10 Best Low-Risk Investments In April 2024

Savings Corner

Building a portfolio that has at least some less-risky assets can be useful in helping you ride out volatility in the market. Most accounts are government-insured up to $250,000 per account type per bank, so you’ll be compensated even if the financial institution fails. So money market accounts present no risk to your principal.

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