Borrowing and Lending Money
Borrowing money is a two-edged sword — do it carelessly and you will be plagued by debt. However, borrowing money wisely can help you achieve your financial goals more effectively. This section covers all aspects of lending and borrowing, including loans, mortgages, peer-to-peer lending, etc. Additionally, check out related articles in these sections: debt reduction and management, your credit, and credit cards.
Borrowing and Lending Money is a subsection of debt management.
Should You Access the Equity in Your Home?
Despite the recent real estate market troubles, many people still consider their homes to be their biggest assets. As you build equity in the home, you can begin to access it for cash. However, accessing the [...]
3 Reasons Why You Should Not Borrow from Your 401(k) Plan
A friend at work is thinking about borrowing from his 401(k) plan to fund his business start-up. He mentioned it to me and I told him that it’s a terrible idea to borrow from 401(k). It [...]
Using a Home Equity Loan to Pay Off Credit Card Debt
You dread going to the mailbox and answering the phone. Each paycheck seems to be gone before you’ve deposited it, and still you can’t seem to tame the enormous balances on your credit cards. Between the [...]
Borrowing Money from Lending Club and Prosper
You might have noticed that banks aren’t lending as readily as they used to. The recent credit crisis and economic recession made it difficult to get an unsecured personal loan from your bank — even for [...]
Should You Co-Sign a Loan?
It’s one of the most awkward conversations in modern life. A friend or relative asks you to co-sign a loan for a new car or a house—with the promise that of course they’re good for the [...]
What is a Second Mortgage? Pros and Cons
A second mortgage is in a nutshell another mortgage on your home. Homeowners take out an additional loan against their property and they do this for a variety of reasons, typically as a way to access [...]
How to Calculate Loan Payments and Costs
Getting a loan is a basic part of adult life. Whether it is something small to tide you over until the next payday, help to pay for a new car, a financial aid for college, or [...]
How to Obtain a Home Equity Loan
Now that people are feeling a little more secure about the economy and about their financial situations, the idea of a home equity loans seems a little less daunting. On top of that, lenders are starting [...]
Tips for Lending Money to Family Members and Friends
Mixing money and family typically is not an advisable financial move. All too often personal feelings get tangled up in a web of financial burdens and it can be a very unpleasant and potentially long-term bad [...]
How to Get a Good Auto Loan Rate
If you are like most people, you don’t have nearly enough cash when it is time to replace your old car — that means you need to borrow the money. Whether or not that is a [...]
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