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PITI stands for principal, interest, taxes and insurance, the four components of many people’s monthly mortgage payment. As you’re shopping for a home and trying to figure out your budget, it’s important to consider all four factors of PITI. Here’s a closer look at each one and what you need to know as you prepare […]
What Is Principal, Interest, Taxes and Insurance (PITI)? Read More »
The average car loan term is 68.48 months for a new car and 67.41 months for a used car, or close to six years, according to Experian data. The average length of auto loans for new and used vehicles has remained fairly steady since last year, reflecting the continuing popularity of longer-term auto loans. While
What’s the Average Length of a Car Loan? Read More »
Higher education can be expensive—and while people typically focus on the costs of tuition, students’ living expenses can add up as well. At public four-year universities, the price of housing and food topped $12,770 in the 2023-24 school year. These costs may even increase for students who live off campus. You can use student loans
Can You Use Student Loans for Rent? Read More »
High-yield savings accounts are known for their better-than-average interest rates, which can help your money work harder and grow faster. But what should you do if rates on high-yield savings accounts start to decrease? Watching your yield go down might feel unsettling, but rate changes come with the territory. Consider taking these three steps before
What to Do When Interest Rates on High-Yield Savings Accounts Drop Read More »
You’ve grown accustomed to seeing the same mortgage bill each month, and then suddenly, you check your latest statement to find a higher number staring back at you. You can’t help but wonder, “What gives? Why did my payment jump?” The answer may lie in your escrow account if your mortgage includes one. Your escrow
Why Did My Escrow Go Up? Read More »
Certificates of deposit (CDs) provide a safe way to earn interest on your savings. They’re especially attractive when interest rates are on an upward trend. The higher your annual percentage yield (APY), the more you’ll earn. Now could be a great time to lock in CD rates since they’re still competitive—and since rates could start
Should I Lock in CD Rates now? Read More »
If you’ve been victimized by identity theft, you may want to fill out an identity theft affidavit. An identity theft affidavit is a form that provides information about yourself and the identity theft to creditors, credit reporting agencies and the IRS. What Is an Identity Theft Affidavit? A victim of identity theft can complete an
What Is an Identity Theft Affidavit? Read More »
The Federal Reserve is expected to cut the federal funds rate in mid-September, which could have a rippling effect on many of your financial accounts. However, you might be able to take action now to lock in higher rates on your savings, and make plans for minimizing how much interest you’ll pay on debts in
Interest Rates Are Dropping—It’s Time to Rethink Your Savings and Debt Read More »
If you need help with your taxes, a qualified tax advisor can assist you with tax planning, preparing your return and e-filing. A tax pro can work with you and your unique needs. Here are four steps to finding a tax advisor with the credentials and experience you need. How Do You Know if You
How to Find a Tax Advisor Read More »
How long your retirement savings will last depends on when you retire, your expenses in retirement, inflation and your investments’ rate of return. Some of these factors are in your control, while others are not. However, there are steps you can take to maximize your savings both before retirement and once you’re withdrawing from your
How Long Will My Retirement Savings Last? Read More »
Hard inquiries in your credit report might hurt your credit scores, but there’s no specific rule for how many inquiries are too many. Depending on why the hard inquiries occurred and the type of credit score, some hard inquiries may not affect your score much at all. Even when they do affect your scores, hard
How Many Hard Inquiries Is Too Many? Read More »
The Consumer Financial Protection Bureau (CFPB) issued an interpretive rule on May 22, 2024, and announced that it considers buy now, pay later (BNPL) lenders to be credit card issuers. The new rule is important because it requires BNPL providers to give consumers certain protections and disclosures that are available with conventional credit cards. Here’s
CFPB Issues New Rules for BNPL, Requiring Some Credit Card Protections Read More »
Graduate school can be expensive, and securing financial aid plays a key role in advancing your education. By understanding your financial aid options, you can plan for and minimize potential out-of-pocket expenses. Can You Get Financial Aid for Graduate School? Financial aid for graduate students comes in various forms, including federal student loans, grants and
Can You Get Financial Aid for Graduate School? Read More »
A home equity line of credit (HELOC) can provide homeowners with quick financing on an as-needed basis. That could come in handy if you’ve got home renovations in the works or experience a financial setback and need cash quickly. An interest-only HELOC has an initial draw period where you can borrow funds while only making
What Is an Interest-Only HELOC? Read More »
Financial aid is a type of funding that can make it easier for college students and their parents to afford the cost of higher education. Here’s what you need to know about financial aid and how to get what you need to make college more affordable. What Is Financial Aid? Financial aid is any form
What Is Financial Aid? Read More »
Federal student loan borrowers have access to several relief options, including student loan forgiveness programs. Each program has a different set of eligibility requirements, but it’s relatively simple to find out if you qualify and what you need to do to get approved. Here are some steps you can take to determine your odds of
How to Get Student Loan Forgiveness Read More »
Filing bankruptcy is an ordeal no one wants to endure, but if the alternative is losing your home to foreclosure, you may consider it worthwhile. Some bankruptcy scenarios offer just such a trade-off, but in other cases, bankruptcy can only block foreclosure temporarily. Read on to understand the distinction. Can Bankruptcy Stop Foreclosure? The short
Does Bankruptcy Stop Foreclosure? Read More »
