Category Archives: Spending

6 of the Most Common Mistakes People Make When Saving Money

6 of the Most Common Mistakes People Make When Saving Money

Most people find it difficult to save money for a large purchase, a college education, or retirement. While proper budgeting can make the savings process easier, it is important to learn what mistakes to avoid. Understanding the most common mistakes involved with saving money can help people meet their goals just as much as knowing… Continue Reading

6 Tips to Keep Your Finances in Shape This Summer

6 Tips to Keep Your Finances in Shape This Summer

During the summer, students are home from school and families start thinking more about vacation. For many, summer is the most exciting time of the year. However, this excitement can easily lead to overspending as individuals try to pack as much as possible into the warm, sunny days. Maintaining a budget is often more difficult… Continue Reading

What You Need to Know about the Different Types of Mortgages

What You Need to Know about the Different Types of Mortgages

When shopping for a mortgage, it is important to know what the different options are and what the implications of each are for the future. The following is an overview of the major different types of mortgage and what each means for the borrower: Conventional vs. Government-Backed Loans Loans that are not insured by the… Continue Reading

A Closer Look at the Benefits and Drawbacks of Money Market Funds

A Closer Look at the Benefits and Drawbacks of Money Market Funds

A popular type of mutual fund is the money market fund. Money market funds are designed to have low volatility by investing only in cash or cash-equivalent securities. Such investments usually have high credit quality and high liquidity. Typical money market fund investments include bankers’ acceptances, commercial paper, certificates of deposit, US Treasury securities, and… Continue Reading

5 Simple Things You Can Do to Repair a Bad Credit Score

5 Simple Things You Can Do to Repair a Bad Credit Score

Good credit scores can drop to dangerous levels rather quickly. With only a handful of missed or late payments, one’s score can fall below 600, which severely limits a person’s financial opportunities. People with a score this low may not qualify for the apartment of their dreams and could even pay more for insurance. Interest… Continue Reading

7 Easy Ways to Increase Your Credit Score

7 Easy Ways to Increase Your Credit Score

Several factors go into determining a credit score, and to raise it people should focus on as many of these components as possible. The most important aspect in determining one’s credit score is payment history, but a person’s amount of debt is also important. Other factors include inquiries into credit, the types of credit secured,… Continue Reading

6 Important Things to Do When Buying Your First Stock

6 Important Things to Do When Buying Your First Stock

When tasked with making their first stock purchase, the average person is often unsure about how to proceed. Even those who have done their homework to learn about the stock market and choose the best stocks for their purposes may not understand exactly how to perform the transaction. The following is a brief guide to… Continue Reading

The 5 Steps Involved with Purchasing and Financing a Home

The 5 Steps Involved with Purchasing and Financing a Home

The decision to buy a house is stressful enough without having to contend with the confusing mortgage process, which adds significantly more pressure to the entire situation. Before making the decision to purchase a home, buyers should spend some time investigating the purchasing process, so that they know what to expect and can prepare themselves… Continue Reading