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What Is A Personal Loan?

Savings Corner

Key takeaways A personal loan is money you can borrow to finance large purchases, consolidate debt, invest in yourself or cover emergency expenses. Working to improve your credit score and reduce your debt-to-income ratio before applying can help get you the best loan terms.

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Meet Jackie. She and Her Husband Paid off $147,000 in Debt | Debt Free Stories

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About $52,000 of that $147K was consumer debt (credit cards, a student loan, a car loan, a home improvement loan, etc.) But it wasn’t a decade of nothing but paying off debt. When we first started we couldn’t have even conceived of becoming completely debt free. What inspired you to get debt free?

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What Is A Home Equity Loan?

Savings Corner

While the forecast doesn’t call for massive savings — for HE loans, anyway — any reduction in borrowing costs saves prospective borrowers some cash, and encourages them to turn to this financing tool. Paying for college: You may find lenders who advocate paying college tuition via home equity, but this is a risky move.

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