Savings Corner
APRIL 4, 2024
Key takeaways A HELOC allows you to access your home’s equity over a period of time — you can borrow exactly what you need as you need it, typically for lower rates than other forms of credit. However, HELOCs also have a variable rate, and the sense of a seemingly limitless credit line could make them risky for less-disciplined borrowers.
Prairie Eco-Thrifter
NOVEMBER 6, 2013
Credit card rewards programs are no different. Many people today seem to prefer paying by credit card. An August 2013 issue of Daily Finance, in an article entitled Credit Card Debt Falling But Still Very High reported: “According to data from the Federal Reserve, as of July 2013, the average indebted household in the U.S.
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Savings Corner
DECEMBER 25, 2023
Cash-out refinances are helpful with major expenses, because you generally can borrow much more than you could with a personal loan or by using credit cards. In that case, a second mortgage such as a home equity loan or line of credit could be a more appealing option. Cons of a cash-out refinance Foreclosure risk.
Family Balance Sheet
OCTOBER 15, 2021
Since March of 2020, over $1300 has been transferred into my daughters’ 529 College Savings Accounts. In the grand scheme of college tuition, $1300 barely makes a dent, however, that was just the first 18 months, and we have another 9 years before my youngest graduates from college. 108 Months X $72 = $7,776!
Savings Corner
DECEMBER 24, 2023
Working to improve your credit score and reduce your debt-to-income ratio before applying can help get you the best loan terms. You can get a personal loan from online lenders, banks and credit unions, and the funds are provided in a lump sum. If you can’t, you risk doing lasting damage to your credit.
Savings Corner
APRIL 4, 2024
HELOCs (home equity lines of credit) come with variable interest rates and fluctuating monthly payments (like credit cards). Home equity lines of credit (HELOCs) and home equity loans are two similar finance tools — methods of borrowing money against the ownership stake you have in your home. HELOC: What is it?
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. Determining whether you qualify: Many cash-out refinance lenders require a credit score of at least 620 and at least 20 percent equity in your home.
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