What is a good debt-to-income ratio, and how to improve yours? Debt-to-income (DTI) ratio might not be a familiar term. However, it’s an important measure of risk when applying for loans, so it’s definitely something to know about. DTI ratio is the percentage of a person’s monthly gross income ...
How to save money to buy a house? Do you need to save money to buy a house? Coming up with enough cash for a down payment and closing costs can be intimidating. The minimum down payment to buy a house ranges from 3% to 5% of the sale price, plus you’ll need another 2% to 5% for closing ...
How to stick with a debt payoff plan? A good debt payoff plan is key to achieving financial independence. And more disposable cash creates more options. The hard part, though, is finding a strategy that actually works for you – and sticking with the plan. Here’s a look at several ways ...
How to prepare your finances for a recession? According to a recent poll, about 6 in 10 Americans feel that we’ll be in a recession by this time next year. Of course, there’s no way to predict the future or know where we’ll 12 months down the line. But that doesn’t mean that you can’t (or ...
15 First-time homebuyer mistakes to avoid!!! It’s not uncommon for first-time homebuyers to make mistakes like house hunting before getting pre-approved, overspending on a property and ignoring their credit. This is to be expected. The truth is, buying a home is more complicated and complex ...
9 Money mistakes that can hurt your finances…big time!!! Let’s be honest, most of us have made money mistakes. Some mistakes were minor and didn’t cause long-term damage. But you might have a few major ones under your belt too. And if so, it might take years to dig yourself out of a ...
You might ask: Is a high-yield savings account worth it?!? A high-yield savings account can help you reach goals faster, but how do these accounts work? And most importantly, how does a high-yield savings differ from a regular savings? Growing a savings account can seem like a tedious task, ...
How to Pick the Perfect Financial Accountability Partner (or Money Buddy)!! It takes willpower to change our spending habits and do better with money – and sometimes, we can’t do it alone. For this reason, you can never go wrong with an accountability partner in your corner. But not just ...
The simple trick I use to save money on groceries (every year)!! Looking for a simple way to save money on groceries??? According to the U.S. Department of Agriculture, “retail food prices increased 8.9 percent in the first seven months of 2022, higher than the rate over the same period in 2021 ...
#1 Way to Boost Your Retirement Savings. EVERY. SINGLE. YEAR Most people know the importance of saving for retirement. However, it isn’t enough to open a 401(K) or an individual retirement account (IRA). For a comfortable retirement, you need to save early and you need to save enough. There are ...