Your Guide to Getting Out of Debt

There are a couple of ways to get out of debt and back on track. It may seem overwhelming, but you can do this! It’s time to budget To start with, make a budget. Total up all your monthly take home pay. Next, subtract all of your expenses. You will want to subtract your housing,…

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How much should I save if I’m in debt?

Crisp one dollar bill among a pile of cash in various amounts

How much should I save monthly if I am in debt? Or what percentage of my income should I save if I am in debt? Submitted by LaTisha V. When we have debt, our priorities can change completely. To start, we have to remember that not paying our debt will negatively impact our credit history…

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5 Tips to Stay Out of Debt on Black Friday

Thin girl smiling while leaning on a glass storefront that reads SALE and wearing a red tank top, checkered skirt, and black sandals

Your No-Debt Black Friday Survival Guide As a veteran, I often get eye rolls from my kids when I use military analogies to describe events. But as a financial coach, I can’t help but see Black Friday as an epic battle. You’re knee-deep in the trenches of holiday shopping goals and you’re experiencing the rapid…

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What is private mortgage insurance?

Scenic picture of the painted ladies in San Francisco as well as the Financial District in the background

If you get a conventional loan and make a down payment of less than 20 percent of the home price, you are required to purchase private mortgage insurance (PMI). PMI protects the lender (not you) in case you fail to make your mortgage payments. Banks, savings associations, credit unions, and mortgage companies make conventional loans…

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What does it mean to refinance a mortgage?

Birds Eye view of a suburban neighborhood

Let’s start with the basics. Refinancing simply means that you’re replacing your existing loan with a new mortgage. Reasons for Refinancing a Mortgage If you’re considering refinancing, your reasons may include: A lower interest rate Shorter (or longer) term to pay off the loan or cash out equity Changing the type of mortgage (you may…

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Understanding Your Debt

Hi, I’m Saundra Davis, financial coach here at SaverLife. Today we are going to talk about one of the biggest financial stressors in many of our financial lives: debt. The “No Judgment Zone” So, the very first thing is remember the “no judgment zone.” Everything that you have done in your financial past that you’re…

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