College graduation celebrates past accomplishments and upcoming adventures. It’s also the point when paying off student loans becomes a tangible financial obligation rather than a future burden. Once you start paying, you’ll feel the effect on your budget immediately. But what may not be apparent is how this debt affects your credit score, which will have long-term effects on almost all areas of your life.
Establishing Good Credit
When it comes to your credit rating, student loans ca... [More]
Most people borrow money at some point in their lives, but many may not realize that having the right kind of debt – and paying it off as promised – can show money management smarts rather than poor spending habits. Here’s how to sort the good from the bad when it comes to owing money.
What is good debt?
Think of good debt as an essential element to making substantial purchases you can’t otherwise afford now but should help you produce value later, such as paying for coll... [More]
You've decided to purchase your first house - congratulations! You’ve hired a real estate agent and a few weeks later you find your dream home. Now you need to get the loan process started, so you research and choose a lender and before you know it you are in their office filling out papers and talking numbers.
This is the part where you will likely have numerous choices on which loan program works for you. Some programs have mortgage insurance, while others do not. Some programs require g... [More]