Strategy
What are the Advantages of a Home Equity Loan?
What Does the Word “Equity” Mean? Equity is the difference between your home’s current appraised value and your mortgage balance. For example, if your home appraises for $200,000, and you owe $100,000, your equity is 50 percent. You can also think of it this way: equity is a term used to refer to the market…
Read MoreWhat are the Disadvantages of a Home Equity Loan?
A home equity loan is a type of loan that enables homeowners to borrow money by using their home as collateral. The amount of the loan a borrower is eligible for is determined by the difference between your home’s market value and the remaining mortgage balance. It can be a viable option for people to…
Read MoreRecession Ahead
Q: How can I prepare for a recession? A: Taking steps to improve your financial health in case of a recession is a smart move. Here’s how to prepare yourself and your finances. Take stock of your financial reality Before you actually make any financial changes, ask yourself these questions: What’s the total of my monthly income?…
Read MoreInflation at record highs
With inflation at record highs, many Americans are finding it difficult to stick to a budget. After all, when groceries have leapt in price and household staples can be double, or even triple, what they cost just a year ago, how can the same amount of money get you through the month? Sticking to a…
Read MoreDebit Cards Teach Teens about Spending Limits
When it’s time for teenagers to drive, they’ll need to pay for gas, tolls and vehicle maintenance costs. Plus, whenever they are out on the road, there’s a good chance they may be spending money at restaurants, stores, theaters and parks, too. You probably don’t want your teenager carrying a lot of cash, so that…
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