Long before I had this blog, I had a car loan. My old car, a hand-me-down 1990 Volvo Stationwagon with about 200,000 miles, decided to stop working while driving west on Belleview Avenue one summer morning. Fixing it would have cost as much as the car was worth, so I decided to get a brand new one.
I Paid Off My Car! Read More »
If you are a fan of peer to peer lending, you might be interested in microfinance. Microfinance is a type of lending designed to help people in poor communities around the world start a small scale business that can completely change their standard of living.
Microfinance: Invest in Someone’s Future Read More »
Anyone who has ever had a loan has seen the statements that come updating you on your progress. Early on, it is often disheartening to see that the bulk of your payment went to just the interest, and a small amount went to the outstanding loan balance. If you ever wondered why and how it works, read on. If not, read on anyway, you could still learn something.
How Loan Amortization Works Read More »
I am sure you realize that the bank pays you for keeping deposits there. Many young people do not have loans, so they have never thought out the process of banks making money. Why should they even care about keeping you as a customer? Here is how banks make money and a few ideas on
How Banks Make Money and How You Can Make Money Like A Bank Read More »
I just got a letter in the mail from my student loan company saying that my loan has been sold to the US government and will now be processed by a federal payment processing center. This is common in the student loan and mortgage loan business. I figure that if it is happening to me, it is happening to other people to. And if a bank does it, it is probably confusing. Here is how it works.
Why Banks Sell Loans and How It Impacts You Read More »
Someone I know is in the market for her first car loan. I was flattered that she asked me about how car loans work. She is pretty smart. If she had questions, I am sure many of you might have the same questions. This post will discuss what you should think about if you are a twenty-something (or a “real live adult”) looking for a car loan.
How to Shop for a Car Loan Read More »
