For many people, the only time that they find out about issues with their credit score is when they are attempting to obtain a new loan, such as to purchase a house or a car. Finding out about credit trouble at this point can cause big interruptions in your plans to make your purchase. While credit monitoring is often put off because consumers don’t plan on making a large purchase in the near future, removing bad marks on your credit report can take an extended period of time so beginning early is crucial. In this article we will discuss a few of the reasons why you can’t put off monitoring your credit score. Continue reading Why You Should Manage Your Own Credit Score
Savings are great to a certain extent, but if it gets to a point when you have a pile of money gathering dust in the corner of your savings account, it’s time to start considering investing your funds. You can transform that extra money sitting in savings into a profitable investment that could provide significant growth and returns for you in the future.
What’s The Difference Between Savings and Investment?
Saving is low-risk to risk-free. It’s when you take some money and set it aside in a commercial bank’s account or low-risk security such as a CD for the long run. You can easily access the funds if you need it, but most often it sits in your account, gathering very little interest as the time passes.
An investment is when you take the money you had set aside in savings and put it towards some sort of asset which you view as either increasing in value or able to provide residual income (such as bond payments). You can invest in almost anything, from the stock market and real estate to fine art and restaurants. Continue reading When Does Savings Transform Into Investment
However, this easy availability has also caused problems as several women often end up taking loans even when it is not necessary. It is very important to be able to rightfully decide if applying for a loan is the right thing to do.
Since one has to pay interest on loans, it is important that a loan is taken carefully so that it does not end up causing a burden. Both the scenarios are explained below in detail for proper understanding.
When to Take Loans – Mortgage Payment
If your mortgage payment is due and you do not have enough money in your bank account then going for a loan may be your last option. Since a house is one of the most important things, applying for a loan in such a scenario is understandable. However, one should try to always first look at other options. There are many financial institutes that may be able to help you in bringing down your mortgage payments. Continue reading Loans for Women: Deciding When to Take Them and When Not to Take Them