What Is Debt-to-Income Ratio (DTI)? The Number Lenders Look At Most
Introduction When you apply for a major loan, such as a mortgage to buy a home or a loan to purchase a car, lenders look…
Category: Finance
Debt Snowball vs. Debt Avalanche: Which Method Is Right for You?
Introduction Feeling overwhelmed by debt is a common and heavy burden. The combined weight of credit card balances, personal loans, and other bills can feel…
What Is a Checking Account? A Guide to Your Financial Command Center
Introduction Of all the financial tools you will use in your lifetime, the checking account is the undeniable workhorse. It is the central hub of…
What Is a Recession? A Simple Guide to Understanding Economic Downturns
Introduction The word “recession” frequently appears in news headlines. It often brings with it a sense of anxiety and uncertainty. Most people understand that a…
What Is a FICO Score? Decoding the Number That Lenders Use
Introduction When you apply for a new credit card, a car loan, or a mortgage, a complex process happens behind the scenes. The lender needs…
What Is Net Worth? How to Calculate Your True Financial Position
Introduction How do you measure financial success? Many people might point to their annual salary, the balance in their checking account, or the car they…
What Is a Certificate of Deposit (CD)? A Guide to Locking in Your Savings Rate
Introduction Imagine you have saved a sum of money for a specific goal. Perhaps it is for a down payment on a house you plan…
What Is a High-Yield Savings Account? A Guide to Maximizing Your Savings
Introduction Many of us have had this experience. You look at your monthly statement from a traditional, big-name bank. You see the savings account that…
What Is an IRA? Your Guide to Individual Retirement Accounts
Introduction In the world of retirement savings, the 401(k) often gets most of the attention as the go-to workplace plan. But what happens if you’re…
From Dream to Reality: How to Set and Achieve Your Financial Goals
Introduction Most of us have a vague cloud of financial wishes floating in the back of our minds. “I’d love to be debt-free.” “I wish…