Is 0% Credit Utilization Good For Credit Scores?
Published: May 3, 2022
Maintaining a 0% utilization rate on all your credit card accounts can help your credit scores, but you can achieve excellent scores without doing so. A low utilization rate, preferably under 10%, is ideal. You do risk hurting your credit scores if your utilization exceeds about 30%, but also if you never use your credit cards at all. Here's the rundown on utilization and credit scores.
Small Home Fixes Can Have a Big Impact on Safety
Published: April 26, 2022
If it ain't broke, maybe you should fix it anyway. That's the message consumer advocates and insurance experts want you to hear about your home's hidden dangers. Too often, they say, people put off relatively inexpensive repairs or improvements that could prevent significant damage, injuries or even death. While you can't eliminate every potential hazard, some small moves can have a huge impact on home safety. The following fixes typically cost $200 or less.
How Home Equity Loans Work - the Pros and Cons
Published: April 21, 2022
A home equity loan is a type of second mortgage. Your first mortgage is the one you used to purchase the property, but you can place additional loans against the home as well if you've built up enough equity. Home equity loans allow you to borrow against your home's value, minus the amount of any outstanding mortgages on the property.
How to Pay for College: 8 Expert-Approved Tips
Published: April 12, 2022
Asking "How do I pay for college?" is like asking, "How do I get healthy?" or, "How do I learn another language?" There are lots of answers, but there's not always one clear path. If you're like most students and families, you'll cobble together funds from multiple sources. Some types of financial aid are better than others, so use the following advice in this order.
How to Teach Your Kids About Finance
Published: April 5, 2022
You can teach your kids about finance through both your words and your actions-sometimes when you don't even realize you're doing it. Talking finance to a toddler may seem daunting, but a Cambridge University study found that 3-year-olds are already capable of understanding money concepts, and that the financial lessons they've learned by age 7 will carry over into the rest of their lives.
Get on Top of Planned Expenses With Sinking Funds
Published: March 28, 2022
In a given year, you likely have expenses that you know are coming - holiday gifts, the family vacation you take every summer, annual homeowners association fees or maybe membership renewals. But just because these costs are predictable doesn't mean you're always prepared. If you are pulling from your emergency fund or using a credit card to cover predictable costs, you might consider using one or more "sinking funds." A sinking fund is a savings account dedicated to a particular expense that you fund gradually through regular payments. Sinking funds often have a deadline associated with them, but not always.