Savings Corner
DECEMBER 23, 2023
This cash value can be used for a variety of purposes, such as borrowing against the policy or using it to pay premiums. You want to build cash value: Permanent life insurance policies build cash value over time, which can be a valuable asset for a variety of purposes. Why Switch to Permanent Life Insurance?
Savings Corner
DECEMBER 23, 2023
The proceeds from your life insurance policy can be used to repay these debts, ensuring that your family is not responsible for settling them. It can replace your lost income, ensuring that your family can continue to pay for bills, the mortgage, groceries, college tuition and more.
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Savings Corner
APRIL 4, 2024
You can use your equity to renovate some rooms, pay off credit cards, cover college tuition, start your own business … or almost anything else. Before you can explore how to use this source of wealth, though, you need to know how much you have. You can find out how much your home is worth using a number of methods.
Savings Corner
APRIL 4, 2024
Paying down your mortgage helps build equity in your home, but you don’t have to wait until you completely repay it, or sell the property, to access that equity. You can use this money for any purpose, including home remodeling , consolidating higher-interest debt , college tuition and other financial needs.
Savings Corner
APRIL 4, 2024
Flexibility With a HELOC, you use the funds as you need them, then repay only what you borrowed (with interest). In contrast, home equity loans and personal loans offer a lump sum that has to be repaid in full (also with interest), whether you use all of the money or not. Should you get a HELOC?
Savings Corner
DECEMBER 24, 2023
Portions of this article were drafted using an in-house natural language generation platform. A personal loan is money borrowed from a lender that can be used for nearly any purpose. Consolidate debt: You can use a personal loan to consolidate expensive debt, such as credit card debt. You will also start to repay the money.
Penny Pinchin' Mom
MARCH 11, 2024
We know that saving for a rainy day isn’t just a phrase our grandparents used to throw around. Whether you are looking to save extra money for your emergency fund and potential unexpected expense, a new kitchen, or your kids’ college tuition—you name it—you will require self-discipline and a plan to reach any financial goal.
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