Savings Corner
APRIL 4, 2024
But it’s a revolving debt that offers an amount of funds (a replenishable balance, similar to a credit card limit) tied to the level of equity in your home. Others use them to pay off high-interest credit card debt or other bills. $16 Debt-to-income (ratio): You’ll need an acceptable DTI to qualify for funding.
Prairie Eco-Thrifter
MAY 26, 2016
Both are now old enough to open a bank savings account. I would go into the bank with my stubby little hands clutching my months worth of allowance (total of $1), deposit it and see the results right off printed in my book. We could take on debt to grow using other people’s money. Back then I had a passbook.
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The Frugal Girl
NOVEMBER 27, 2023
We bought our house in March 2009, during some of the worst of the recession and the housing bubble bursting. I racked up more debt to move to California, then the fancy car turned out to be a lemon, requiring a bunch of expensive repairs. Needless to say, my restaurant manager salary didn’t support the life I was trying to live.
Savings Corner
APRIL 4, 2024
Even as inflation comes down and the Federal Reserve’s tightening cycle looks like it’s about to end , the economy still faces the risk of a recession. 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.
Prairie Eco-Thrifter
MARCH 8, 2017
Some asset types do better during inflationary years, some do better in recessions. Automatic payroll transfers to your bank or financial institution make this very easy. All require pruning for growth, just as your investments and debts do. Prune down debt to make way for savings to build. Prune for growth.
Finally Frugal
JANUARY 8, 2011
During the Great Recession, many of us have felt overworked and underfunded and as a result we've replaced vacations with 'staycations'. You can bet I'll be keeping an eye on my bank account to ensure that the funds are given the appropriate home (i.e. before my spendthrift side can get its grubby paws on it.
Savings Corner
DECEMBER 25, 2023
Some platforms invest in equity (stock), while others invest in debt. Generally, stock offers high returns in exchange for more risk, while debt offers lower returns in exchange for less risk. In addition, real estate is typically funded with high levels of debt financing, making it more susceptible to any economic downturn.
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