While investing in the stock market may seem complicated, it is an important component that can help you achieve financial independence. The best part about investing in stocks or funds is that you can benefit from the power of compounding interest, which means the sooner you start investing, the more you stand to make. Let’s take a look at the steps that you’ll need to follow to buy…
One of the best ways to keep your credit score healthy is by paying your bills on time. That said, it is important to know that most bills payments you make every month have no direct impact on your credit score. For a payment to either positively or negatively impact your credit score, it has to be reported to the credit bureaus, namely Equifax, Experian, and TransUnion. And, most companies to…
If you are like most people, you swipe your credit card multiple times a day, without really knowing much about the rectangular plastic card that you keep in your wallet. Let’s take a look at some surprising facts about your credit card:
Valid Credit Card Numbers Follow The Luhn Algorithm
All valid credit cards follow the Luhn algorithm, which means if you double every second digit…
If you’ve approached a lender for a mortgage, you may have been told you need mortgage insurance if you aren’t making a 20% down payment. What is mortgage insurance and is it mandatory? Here’s what you need to know.
What Is Mortgage Insurance?
Mortgage insurance is a type of insurance cover that financially protects the lender if the home loan borrower defaults on their…
Most millennials, when quizzed about their likelihood to purchase life insurance, report that they are unlikely to ever do so. However, if you have financial obligations or dependents, it’s best to purchase a life insurance policy at the earliest. Keep in mind that life insurance tends to get more expensive the older you get. So, it is, in fact, great to purchase a life insurance policy in…
Homeowners insurance provides coverage against loss or damages to your residence. Typically, it will also cover assets in your home and any accidents that take place on your property. While the cost of home insurance will vary significantly based on how much coverage you opt for and where you stay, you can expect to pay an average premium of $1,200. If you live in a flood-prone area, you can…
Spoiler: it’s a bad idea.
If you’ve mounted winter tires on your car, it’s obvious that the area where you live experiences a rather severe and possibly prolonged winter. It doesn’t matter whether they’re studded or studless, winter tires are only meant to be used during winter. They’re made to tackle tricky driving conditions like ice, snow, and other wet conditions that don’t…
Who Is A Co-signer?
It’s someone who partners with you for the loan application. A co-signer shares the responsibility of the loan with you. If, for some reason, you can’t make the monthly payments required, it will be their responsibility to pay back the loan for you. But there are conditions to someone being a co-signer. They must have a good credit history.
By good, we mean that…
Car rental agencies always want you to confirm your rental as early as is possible. That’s why a lot of them have an option where you can prepay at the time of booking the car. You can pay the entire amount or a significant percentage of the amount online. While it may seem like a large chunk of money to block before your trip, it may have some benefits. There are other factors to consider…
You’ve decided which car you’re going to buy. You’ve chosen the make, model, trim level, color, and the optional extras. But you’re not done figuring out the important stuff. The next thing you need to handle is buying the right insurance policy for the car of your dreams. While buying car insurance has become easier over the years, it can still be quite tedious.