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How Does a 401(k) Loan Work, Advantages and Disadvantages

How Does a 401(k) Loan Work, Advantages and Disadvantages 1

Are you thinking about borrowing money from your 401(k) plan? Whether it is for the down payment for your home purchase, for debt payment, to fund your new business venture, or to cover your cash shortfall; borrowing money from your 401(k) is a decision that you need to consider carefully. Table of Content How to … Read moreHow Does a 401(k) Loan Work, Advantages and Disadvantages

myFICO Free Credit Scores Estimator: Estimate FICO Score

myFICO Free Credit Scores Estimator: Estimate FICO Score 15

In What is a Good Credit Score? post, I shared various ways you can use to get your credit score for free. I also mentioned the myFICO Free Credit Scores Estimator tool, which will give you a free estimate of your scores. The calculator asks you ten questions to come up with an estimated range … Read moremyFICO Free Credit Scores Estimator: Estimate FICO Score

How to Calculate Debt-to-Income Ratio (DTI Ratio)

How to Calculate Debt-to-Income Ratio (DTI Ratio) 18

Debt-to-Income Ratio, or DTI ratio, is how a bank or lender determines what you can afford to borrow. It is a way to assess your ability to pay back the loan based on your income and other debt obligations. If your DTI ratio is too high, then you’re a risky borrower and may not qualify … Read moreHow to Calculate Debt-to-Income Ratio (DTI Ratio)

Can’t Pay Your Debts? 5 Ways to Hide from Your Creditors

Few people, when swiping their credit cards, or getting a car loan, do so with the intention of defaulting on their debt. In many cases, they are sure they can afford the debt, and that they will be able to make the loan payments. Unfortunately, debt tends to build up and can sneak up on … Read moreCan’t Pay Your Debts? 5 Ways to Hide from Your Creditors

How to Pay Off Credit Card Debt in 7 Steps

How to Pay Off Credit Card Debt in 7 Steps 25

Being in debt is not fun. Unfortunately, many people do find themselves in debt, carrying a balance on multiple credit cards and loans. Even if you have a debt problem that seems insurmountable, you can eliminate credit card debt on your own without using a debt consolidation service. While I think the debt consolidation company … Read moreHow to Pay Off Credit Card Debt in 7 Steps