Tag: loan
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Chapter 34: Financing
When does it make sense to finance? Have you ever been in a situation where you have the capital available to pay something off, but you’re not sure if you should? Maybe it could be a small car note or a personal loan. When does it make sense to finance: The typical rule for me…
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Chapter 32: Credit Scores
Big Banks Control My Scores? Having a good credit score is a successful way of proving that you can pay back your debts. It rewards good borrowers by giving them a discount on interest, access to premium credit cards, and larger lines of credit. Many people seem to disagree with this system and calling it…
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Chapter 26: The 2024 Housing Crash?
In the year 2023 housing prices have been soaring, with that mortgage interest rates have also been going up from the high 6% to a staggering 8%. To make it worse mortgage demand is the lowest it has been in over 30 years. (source: MBA Purchase Index) This means that if nobody is buying a…
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Chapter 25: Minimum Payments
Generosity or Genius? Minimum payments are a great way for your credit card company to make money. The longer it takes you to pay them back, the more they can charge you in interest. For perspective, sometimes a minimum payment only covers the interest charge and will probably scrape very minimal off the principal balance.…
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Chapter 23: Cars, Buying Vs. Leasing
Thinking of buying a car? It’s good to know the difference between a purchase and a lease. There are also many other factors to consider in your car buying journey. Things like down payment, the APR of the loan, and the loan term. Loan terms are usually discussed in months so it’s good to calculate…
Money Ain't Sh*t 