Savings Corner

DECEMBER 24, 2023

Common reasons include paying off debt, financing a large purchase such as a vehicle or a boat, or covering the cost of a major expense like a wedding or a home renovation. You can get a personal loan from online lenders, banks and credit unions, and the funds are provided in a lump sum.

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Debt Credit Cards Credit College Tuition 52

Savings Corner

APRIL 4, 2024

You’ll receive the funds in a lump sum, then make regular monthly repayments amortized over the term of the loan, typically as long as 30 years. While high compared to their average of six percent in 2022, that’s significantly lower than other forms of consumer debt. Second, the amount of debt needs to be fairly significant.

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Family Balance Sheet

SEPTEMBER 9, 2014

We paid off over $147,000 in debt (actually way over that amount, if you want to count a $210,000 rental property that I sold at a slight loss.) About $52,000 of that $147K was consumer debt (credit cards, a student loan, a car loan, a home improvement loan, etc.) Then my husband decided to pay off his car.

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