Understanding how much debt you can handle and being smart about managing it can help you pursue long-term financial goals. Consider the following tips when analyzing how much you owe. 1. Calculate how much debt you carry. Although there are exceptions for special situations, many mortgage...
If you own a home, you may be wealthier than you think. The equity in your home could be one of your largest assets, especially if your mortgage has been paid down over the years or paid off. This home equity can be a valuable...
Years ago, the general rule of thumb was that you could afford a house that cost two and a half times your annual salary. Today, most people finance their home purchases. As a result, determining how much house you can afford generally equates to how...
It's difficult to imagine functioning in today's world without credit. Whether buying a car or purchasing a home, credit has become an integral part of our everyday lives. Having easy access to credit goes hand in hand with having a good credit score, so it's...
Owning a home outright is a dream that many Americans share. Having a mortgage can be a huge burden, and paying it off may be the first item on your financial to-do list. But competing with the desire to own your home free and clear...
When you refinance your mortgage, you take out a new home loan and use some or all of the proceeds to pay off the existing one. Today, many homeowners are taking advantage of historically low interest rates and refinancing their mortgage loans. Why refinance your mortgage? There...
Like homes themselves, mortgages come in many sizes and types, and one of the most important decisions you face as you consider your choices is whether to take out a fixed or an adjustable rate mortgage. The type of mortgage that's right for you depends...
This is a repost of a great article I read this morning. It is extremely relevant in this day of underwater mortgages and the thought still of, "keeping up with the Jonses." How Couples Sabotage Their Finances Simple principles still apply here: Spend less than you make ...
As you move through your peak earning years, you'll probably see your net worth steadily rise. At the same time, you'll still have some work to do before you realize your financial goals. That's why it's important to have a solid plan in place. Here...
Many people obtain life insurance when they first have children and then forget about it, except for when the premium bill comes due. But an effective financial plan includes reexamining your life insurance needs continually throughout your life to ensure the assets you've accumulated are...