How do I find my credit score?
How do I find out my credit score? Who wants to know it, and what factors influence its change? Submitted by anonymous. A credit score is a representation of how someone managed their debts. It is meant to help creditors understand our financial responsibility. Payments on our loans and balances on our credit cards are…
Read MoreKiara’s Story: Maybe Money Can’t Buy Happiness, But It Can Buy Security
Meet Kiara, who lives in Taylor, Michigan with her 11-month-old daughter and her two young cousins. What do you do? I don’t have a job. I take care of my daughter and my two cousins because I have a kinship guardianship for them. One is my biological cousin and the other is his half-brother. Their…
Read MoreDo you recommend credit consolidation?
Do you recommend credit consolidation to improve scores and decrease debt? Submitted by Natasha P. There are two parts to this question, so let’s dig into them separately. Improving Your Credit Score Whenever a financial institution pulls your credit with the purpose of offering you a loan, your score may be affected. Closing a credit…
Read MoreHow to Get the Best Rate on a Loan
If you need money for the short or long term, it’s important to remember that not all loans are created equal – and the price you pay for that money (in fees and interest) may vary dramatically. What do you need? Before shopping around for loans, you should know how much money you’re looking to…
Read MoreWhat Is APR?
Your Annual Percentage Rate (APR) is the interest you will pay over the course of a year. This doesn’t tell you how much you will actually pay if your interest is compounded in shorter increments. Our loans are usually compounded monthly, or for most credit cards, daily! YIKES! If you really want to know how…
Read More5 Things to Keep in Mind When Selecting a Savings Account
A savings account is one of the simplest bank accounts you can get. Nearly all U.S banks and credit unions offer savings accounts. It’s worth it to shop around because accounts have varying fees, minimum balances, and interest rates. Keep the following things in mind when selecting an account. FDIC Deposit Insurance You should only…
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