Pros and Cons of Paying Off Your Mortgage Early

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Understanding The Types Of Mortgages Available To Save You Money

One of the most significant financial events in an adult’s life is the moment when they pay off the mortgage on their home. It’s something we spend decades preparing for by faithfully making our payments on time and in full, month after month until the home finally belongs to us. As of 2017, 34% of Americans had 100% equity in their homes, which means they either paid off the mortgage or bought their homes outright and never had a mortgage loan in the first place. If you’d like to join the mortgage-free club in the future, there are many reasons why you might (and might not) want to pay off that mortgage loan early if you have the means to … Read more

Long Game Review – How to Turn Saving Into a Game

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Long Game

Americans are not very good about saving money, as the latest statistics from a Bankrate survey suggest. 19% of Americans don’t save anything, 21% of Americans save 5% or less of their annual income, and 25% only save about 6-10% of their annual income. Yikes! Combine these gloomy stats with the fact that about 40% of Americans retire with less than $10,000 saved up and a financial disaster is surely waiting to happen. Most people know how important it is to save money for unexpected expenses and long-term goals like retirement, so why are so many Americans still living at their means instead of below them? There could be many possible explanations. Money is tight, income-boosting opportunities are scarce, an … Read more

10 Things You Didn’t Know Bad Credit Affects

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You know you should improve your credit score. You hear over and over again that having bad credit can affect your interest rates on credit cards and loans, but if you think those are the only things poor credit affects, think again. 10 Things Bad Credit Affects 1. Your Mental Health Did you know that psychological and social epidemiological research has linked household debt to higher instances of depression, greater feelings of stress, lower quality health, and higher blood pressure? This may sound obvious, but the connection between debt, poor credit, and poor mental health is oftentimes ignored in favor of pretending the problem will magically go away on its own. Having high levels of debt and a poor credit … Read more

Can Your Credit Score Affect Your Dating Life?

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How Your Bad Credit Can Affect Your Love Life

Even if you’re single, your personal credit score matters to other people beyond just your landlord and lenders. In fact, a new survey from Discover Financial Services and Match Media Group (parent company of the Tinder dating app) found that 69% of the 2,000 people surveyed agreed that financial responsibility is an extremely important quality to them when it comes to finding a romantic partner. Surprisingly, financial responsibility ranked higher than a sense of humor (67%), attractiveness (51%), and ambition (50%). What does this mean for your dating life? If you have a good credit score, then perhaps that is one detail worth mentioning at some point in the dating phase. But, on the first date, it might be a bit … Read more

Top 4 Reasons Penny Stocks Aren’t Worth the Money

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How to Find Undervalued Stocks

With some big name companies trading at over $1,000 per share nowadays, investors with less cash to pour into their portfolios are often intrigued by the potential of penny stocks, which are also referred to as over-the-counter or OTC stocks. As the name implies, these stocks are super cheap, typically trading at less than $1.00 per share (though the SEC defines penny stocks as those trading below $5.00 per share). Since they’re not traded on major stock exchanges, investors can find more information about low value stocks through the OTC Bulletin Board or OTC Markets Group. Penny stocks are typically offered by small, newer companies that have less information publicly accessible to potential investors, which can either pose a great … Read more

Current Prepaid Debit Card Review – How to Manage Your Teens Allowance

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Current Prepaid Debit Card

There are plenty of reasons why debit cards are not only still relevant, but also incredibly useful for consumers – even in an era of competitive credit card rewards offers and our seemingly insatiable appetite for buying things now and paying off these purchases later. If you’re a parent who’s trying to teach your kids about personal finance, then prepaid debit cards are an excellent option for developing good spending and saving habits from an early age. Alternatively, perhaps you’ve struggled with racking up credit card debt and need something to break you out of an impulsive spending habit – a prepaid debit card would also help you become a better budgeter in this scenario. But why settle for just … Read more