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. Here’s how to calculate the equity in your home. Here’s how.

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Savings Corner

APRIL 4, 2024

You can use this money for any purpose, including home remodeling , consolidating higher-interest debt , college tuition and other financial needs. Cash-out refinances are generally best for big-ticket costs: Think home renovations or major debt consolidation. This can be a boon for your credit score.

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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.

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Savings Corner

APRIL 4, 2024

Home equity loans are best used for five-figure renovation or repair projects — which can garner you a tax deduction on their interest — or to consolidate other debts. You can use the funds from a home equity loan for any purpose, but there’s a possible tax benefit if you use the money to improve your home.

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