Month: December 2017

Why Now Is the Time to Start Saving for Next Christmas

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Christmas Gifts For Children That Keep On Giving

Are you still reeling from your credit card bill after buying Christmas presents? You’re not alone. Many Americans continue to put holiday spending on credit cards despite the warning signs of building consumer debt. But, you need to be saving for Christmas again already! According to the National Retail Federation, holiday retail sales increased 3.8% to $601.8 billion. More than $42 billion was spent online, a 10% increase in last year. We give generously to our friends and family members each holiday season. That’s fine until you reach for your credit cards to give the gifts and spend months paying the balances off. Far too many people give from their heart even when their wallet can’t afford it. Don’t make … Read more

Understanding the Difference Between Prequalification and Preapproval

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Understanding Prequalification and Preapproval for Mortgages

People can confuse prequalification vs. preapproval for mortgages when they are applying for a loan. However, there are noted differences. For example, to become prequalified, you must give a loan officer income and debt information to determine the loan amount you can manage. Preapproval, on the other hand, requires more information gathering and checking on the part of the lender. In other words, the lender must compile your credit report data as well as determine your debt to income ratio. Preapproval makes it easier for you to shop for real estate as you do not waste your time looking at homes you couldn’t possibly afford. Not only is your credit history important when you are becoming preapproved so is the amount … Read more

BusyKid Smartphone App Review – Tracking Chores and Teaching Kids About Money

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A lot of young adults don’t understand how to save or invest money nowadays, and financial literacy rates continue to decline year after year. This is evidenced by the student loan debt crisis and stories of college students racking up tons of debt (student loans, credit cards, payday loans, etc.) while working minimum wage jobs. If you’re planning on having kids or you already have kids in your family, how do you plan to teach your kids about money? Of all the mistakes young parents can make, not teaching your kids how to manage money from an early age is one of the most concerning because of this widespread lack of personal financial literacy among high school and college students … Read more

Everything You Wanted to Know About FHA Loans

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Millennials and Home Ownership - Do Millennials Need to Buy Homes?

The cost of housing is skyrocketing across the U.S., particularly for renters seeking affordable housing. While there are many benefits to renting a home, you don’t have to pay for repairs or property maintenance. Some utilities might be covered in your monthly rent, the freedom to move. But, many people still aspire to the American Dream of owning a home. But if housing prices continue to rise as mortgage lenders are still hesitant about lending in a post-recession economy, how can you possibly manage to save up the massive, 20% down payment required for most mortgage loans? Thanks to the U.S. Department of Housing and Urban Development’s FHA loan program, you might not need to save up for a huge … Read more

Silver Bar Buying Guide – Top 4 Things You Need to Know

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Buy Silver Bars

Silver, as a pure metal, is used in many areas including as jewelry and for investment purposes. Just like any other precious metal, it can be used in wealth accumulation. However, one of the easiest ways to include silver in your portfolio of precious wealth investment is through the purchase of silver bars. In spite of this, the process of buying silver bars can be overwhelming especially for beginners since there are certain details that you need to know. This article provides a brief buying guide to help you in buying your first silver bars. Understand the terms used Just like any other trade, buying and selling silver bars has specific terms that are used. For example, the unit of … Read more

How To Benefit From Your Current Financial Situation

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Your Current Financial Situation

More often than not, we all want to be able to change the financial situation that we’re in. But that isn’t always necessary. Whether you want more money or just a better grasp of it, sometimes you wish that you could improve your finances. And while that’s a real aspiration to have, it won’t always happen overnight. Even if you’re working on growth and hoping for a more prosperous future, there’s a lot that you can actually do in your current situation. Because sometimes, the growth that you’re looking for it going to take time. So it can be a great idea to work at what you have. So let’s take a look at how you can benefit from the … Read more