Term Life vs. Whole Life Insurance: Which Is Best for You?

Insurance

Term Life vs. Whole Life Insurance: Which Is Best for You?

Term Life vs. Whole Life Insurance: Which Is Best for You?

Taking out a life insurance policy is a great way to protect your family’s financial future. A policy can also be a useful financial planning tool. But life insurance is a notoriously tricky subject to tackle. One of the hardest challenges is deciding whether term life or whole life insurance is a better fit for... Read More

Credit 101: What Is Revolving  Utilization?

Credit 101

Credit 101: What Is Revolving Utilization?

Credit 101: What Is Revolving  Utilization?

According to Experian, the average credit score in the United States was just over 700 in 2019. That’s considered a good credit score—and if you want a good credit score, you have to consider your revolving utilization. Revolving utilization measures the amount of revolving credit limits that you are currently using, and it accounts for... Read More

What Is the FICO Resilience Index?

Credit 101

What Is the FICO Resilience Index?

What Is the FICO Resilience Index?

By the end of May 2020, more than 40 million people had filed unemployment claims due to COVID-19 and the resulting economic shutdowns. Governments, charities, and even creditors scrambled to put programs in place to support people during this time while also mitigating future economic fallout. And this isn’t the first time creditors have found... Read More

What to Know Before Taking Out a Subsidized Loan

Student Loans

What to Know Before Taking Out a Subsidized Loan

What to Know Before Taking Out a Subsidized Loan

Attending college or university is a dream for a ton of people. Yet higher education can be expensive, seemingly putting that dream out of reach for many students and families. Tuition at American schools has steadily increased for decades, so it can be hard for your average student to afford it. But it’s not only... Read More

3 Steps Young Families Can Take to Build a Financially Secure Future

Personal Finance

3 Steps Young Families Can Take to Build a Financially Secure Future

3 Steps Young Families Can Take to Build a Financially Secure Future

Young families looking to achieve financial stability should consider several foundational steps… Click To Tweet Young families looking to achieve financial stability should consider several foundational steps early on. These steps include making a plan to repay personal debts, saving up for a down payment on a house, and planning for the unexpected. To learn... Read More

Charged Off as Bad Debt: An Explainer

Managing Debt

Charged Off as Bad Debt: An Explainer

Charged Off as Bad Debt: An Explainer

Making payments late or missing payments completely spells bad news for your credit rating. When you miss too many payments, your creditor may charge off the debt. When your debt is charged off as a bad debt, don’t fool yourself into thinking it goes away. A charged off debt can lead to harassing phone calls,... Read More

What Happens When You Pay Off Your Car Loan?

Auto Loans

What Happens When You Pay Off Your Car Loan?

What Happens When You Pay Off Your Car Loan?

According to the Consumer Financial Protection Bureau, around 2.3 million car loans originate every year. Car loans can take years to pay off. So when you finally pay it off, you might be wondering—now what? What happens when you pay off your car? What should you do with the money you were previously putting towards... Read More

Why You Need ExtraCredit in Your Life

Building Credit

Why You Need ExtraCredit in Your Life

Why You Need ExtraCredit in Your Life

What do you need your credit score for? In a nutshell, a lot. Credit cards, loans, mortgages, APR, even renting an apartment—whether or not you qualify is based largely on your credit score. If your credit is less-than-ideal, you know it can make your life just that much harder.    Having a bad credit score can hold... Read More

How to Explain a Cash Deposit for a Mortgage

Mortgages

How to Explain a Cash Deposit for a Mortgage

How to Explain a Cash Deposit for a Mortgage

After months of searching, planning and saving, you’re finally ready to apply for a mortgage. You think you have all your ducks in a row—you have great credit and a killer history of making your loan payments on time. But there’s one small hiccup. A lender noticed that you’ve had a recent, slightly unusual cash... Read More

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