For the first time, I am going to give exact details on my loan balances and how I am paying them off. I will also discuss the popular “snowball effect” for paying off your own debt.
My Debt, How I’m Paying It, and the Snowball Effect Read More »
If you have $100 today, what is it worth? What would you pay today to ensure you receive $100 one year from now? Would you pay $95 or $105? Bankers, loan specialists, and mortgage brokers are experts in the time value of money (TVM).
If you are short on cash and need money quick, payday loans might sound good. They are not! Whatever you do, never, EVER, get a payday loan. They are so bad that some states are working to make them illegal. Washington DC was the first place to outlaw these predatory loans. According to the Consumers
Payday Loan Companies are Like Mafia Loan Sharks Read More »
As you all probably heard, the Federal Reserve lowered the interest rate to .25%. This near zero rate caused a spike in the stock market and many reactions around the finance world. What does it mean for you? I’ll tell you! As a borrower, it means you can save money. This is going to be
At some point, you are probably going to need a new car. For young people, this is usually the first major purchase (thousands of dollars) that you will make. You have three options: Buy in cash, lease, or buy with a loan. The best option is to just buy the car outright in cash. This
