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An installment loan is a type of loan wherein the lender will lend the borrower a certain amount that the latter will pay off through regular installments. Installment loans are available for both personal and commercial use. However, before receiving the money, you still need to submit a loan application to see if you qualify for the loan. Unfortunately, the application process can sometimes take a long time to receive approval. But don’t fret! By […]

It’s the last Friday in February, so you know what that means, debt and life update time. February was a good month. It wasn’t too crazy or anything. Here are some things that happened. Blog Audit My content audit is finally complete. I’m not sure when I actually started, but I’m glad it’s over. I… Read more The post February 2021 Debt & Life Update appeared first on My Money Chronicles.

This is a collaborative post. Your credit score is probably something you don’t pay a huge amount of attention to. But when you need it to buy a home, for example, it can play a huge role in ensuring you’re getting a best mortgage for your property. With that being said, here are some tips […] The post Tips To Improve Your Credit Score appeared first on The Money Whisperer.

[Editor’s Note: Would YOU like to be a White Coat Investor “Champion” for your medical or dental school class? If you’re a first-year US MD/DO/Dental student please check here to see if your school is still available and apply by April 15, 2021, to be considered. Champions will pass out FREE copies of The White Coat Investor’s Guide For Students to classmates. In return, they get WCI swag and the prestigious title of “White Coat […]

The problem with the debt cycle is that it’s so easy to fall into it yet so hard to get out of. Once you’re stuck in this rut, it feels as if you’re living life in a never-ending cycle of debt. Moreover, no matter how hard you try to stay out of debt, there may be circumstances in your life that just render this pursuit impossible. If you find yourself in this situation, I want […]

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Learn why a small emergency savings comes first, before paying off high-interest credit cards. And then, get back to paying off debt. Emergency Savings Comes First Recent surveys have shown that as many as 60% of Americans would be unable to cover a $1,000 emergency. We all know we should have emergency funds, but how do we start? What if we have debts? Should debt elimination come first? To many, those seem like tough questions. […]

Three weeks ago, a friend asked “What happens to debt when you die”. Now, this wasn’t a morbid question, I’ve simply just become the personal finance guy in my little group of friends, and they wanted to know what happens. The incorrect answer is “You’ll be dead, why do care?”. What essentially happens when you die is “Probate”. It’s the process of paying off outstanding debts and distributing your wealth to your beneficiaries with your […]

The Royal Bank of Canada (RBC) offers credit cards in various categories including cash back, student, travel, low-interest rates, and for business. Cash back credit cards are great because it is easy for you to spend and enjoy your earnings. For example, if your cash back cards offers 1% cash back on all purchases, you […] The post Best RBC Cash Back Credit Cards in Canada appeared first on Savvy New Canadians.

Getting cash fast isn’t always easy when times are tough. You might need money now and have no idea where to get funds. A payday loan may seem like the only choice. While high-interest loans provide a brief respite, that ends quickly when rates and fees make the situation worse. If you need cash quickly, there are safe alternatives to payday loans. Better yet, they likely won’t saddle you with additional debt. Best Alternatives to […]

No, I haven’t crossed over to the dark side. Yes, I still think there’s incredible value in being mortgage free. But for the past few months and into the foreseeable future, we pushed pause on our debt payoff plans. While I initially expected to feel a lot anxiety about this decision, I’m surprisingly resolute. Because this is so unlike me, I thought it might be worth sharing in case anyone else finds themselves in a situation where they put debt payoff plans on hold. Money Is More Than Math Many people argue that paying down low-interest debt is a fool’s errand. There’s more money to be made in the stock market. Let your money work harder. Rinse and repeat. That’s true from a mathematical perspective. But money is never just about math. Not on this blog, and not in real life. There’s no question in my mind that a paid-off home would be more comforting to me than my IRA balance if I lost my job. How do I know? Well, I lost my job twice, and let’s just say that looming payments did not help me sleep at night. There are emotional and psychological sides to money, and there’s real value in heeding advice to Know Thyself. I know me. I am a ball of anxiety on a good day, so the more in control of my finances I feel, the better my quality of life. Plus, it’s not like I’m not also investing. RELATED POST: Why Money is Always More than a Math Problem It Came Down to The Numbers But in this case, math trumped psychology. Why? The short answer is that in a few months, there simply aren’t going to be enough dollar signs to go around. I know that I’m coming up on an unpaid leave. I know that I’m the breadwinner (though not by much anymore). As a result, we are dialing back the debt pay down. Instead of trying to double or triple our mortgage payments–or even just ditching the mortgage altogether with some (a lot?) of our savings–we are stockpiling cash and contributing a bit to retirement, too. Maintaining Momentum I still have grand plans of living in a paid off house by the time I’m 35. Maybe they are grand delusions. But because I’m unwilling to let go of this goal, we decided to pay just a bit extra each month. In a way, it hearkens back to the start of our debt payoff journey. At a time when it felt like we were trying to move six figures of debt with a toothpick, we started by paying just a few extra dollars per month. Gradually, we ramped up from there. So now, we round our mortgage up to $1000 each month. That means we’re throwing in an

After 2020 ended, I was thinking of boosting my online selling business by taking a business loan so I can buy additional supplies, storage bins, inventory, etc. However, I was still hesitant because of a variety of financial factors such as low sales turnover, cash flow, etc. It seems that the universe was reading my […] The post BPI SIP (Special Installment Plan) Loan Review appeared first on Thrifty Hustler.

Rent vs. Mortgage — Are You What You Own? A question for you: Where would you go if you had the entire world at your feet? A lyric from one of my favorite shows, Rent — Jonathan Larson’s hit Broadway musical in the late 90’s. Some might argue the show is no longer relevant. But it was definitely a reflection of 90’s pop culture, and the overall social & political environment at the time. The show […]

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