You looked up your credit score online or requested it from your bank — nice job. It’s important if you’re moving into a new apartment, applying for a loan or signing up for a credit card. But what does that number really mean? Let’s look at how the credit range scale breaks down by rating type as well as numerical score. We’ll also explain where you should fall in order to qualify for certain financial products and services.
Looking for a practical money strategy involving your paycheck? Financial industry experts recommend following the 50/20/30 rule. According to the 50/20/30 rule, 50% goes to needs, 30% to wants, then put the remaining 20% into your savings. This rule’s based on dividing your after-tax income in ways which should help you cover your retirement expenses. And best of all, it encourages you to have some fun along the way!
When you begin the process of purchasing a home, you may feel like you’re learning a whole new vocabulary. What does it mean to be prequalified for a mortgage? What about prequalified vs. preapproved — does that make any difference? And why does HGTV spend so much time talking about open concept kitchens, and so little time explaining mortgage terminology? Don’t despair! While the process might seem complicated, it’s not that hard to learn everything you need to know.
