Close

Home

How student loans work

What is a Student Loan? A loan is borrowed money that is repaid over the time. In addition to repaying the amount borrowed, most borrowers also have to pay a fee, called interest. A student loan is used to pay for college costs. What is Interest? Interest is a fee charged for the use of someone else’s money. It is typically charged once a month based on the unpaid loan ...
Read More
/

How Student Loans Affect Your Credit

Student loans can have a major effect on your credit score, so it pays to understand the relationship between student loans and credit. On one hand, borrowing and paying back student loans can do wonders for your credit history. On the other, a misstep like a missed payment can send your score plummeting. How Student Loans Can Positively Impact Your Credit Think student loan debt is all bad? Not quite. If you ...
Read More
/

How Student Loan Debt Can Harm Your Credit

Though student loans can be a good thing for your credit, it's also easy to get into trouble. If you aren't careful with payments or take on too much debt, your credit score can suffer as a result. Missed payments. Remember how important payment history is for your credit score? The last thing you want to do is miss a payment. Because payments comprise 35 percent of credit history, missing and ...
Read More
/

How Personal Loans Work

Credit comes in many forms, including credit cards, mortgages, automobile loans, purchase financing over time and personal loans. Each type of credit serves a certain purpose for a goal you may have, whether it's to buy a house or car, or to allow you to break up a big expense into more manageable monthly payments. A personal loan is a form of credit that can help you make a big purchase or ...
Read More
/

How medical debt can harm you

Medical debt is still debt, and any debt can ding your credit. On the FICO scale of 300 to 850, “a collection that hits a credit report could have an impact of up to 100 points,” says Nancy Bistritz-Balkan, vice president of communications and consumer education at Equifax. Regardless of what caused it, a lower score will affect whether you can borrow money or obtain credit, and on what terms ...
Read More
/

How long do you have to roll over a 401(k)?

If you have more than $5,000 in your former employer’s 401(k), you generally won’t be forced to roll over your 401(k), according to the IRS. If a distribution is made directly to you from your retirement plan, you have 60 days from “the date you receive” a retirement plan distribution to roll it over into another plan or an IRA, according to the IRS. But if you have more than $5,000 ...
Read More
/

How financial advice can help

We believe in the value of financial advice. In today’s complex and ever changing financial world, it’s never been more important to seek qualified and experienced guidance to help you secure a successful financial future. The major goal is to make it easier for all people to access and benefit from receiving the right advice for their individual needs and objectives. Whether it be simple fact based information to make ...
Read More
/

How Do Student Loans Affect Your Credit Score?

Student loan debt is fairly common these days. As of 2018, more than 44 million Americans were dealing with student loans – so don’t feel alone. And while paying off your loans may be an added stress during these already complicated years of young adulthood, it’s good for you to know that having a student loan may actually help your credit score and even allow you to build a credit history that could enable ...
Read More
/

How Do School Loans Show up on Your Credit Report?

Yes, your student loans appear on your credit report and are factored into your credit rating, just like any other loans. That means they can provide a positive effect on your credit rating if you make payments promptly, or a negative impact if you miss payments or go into default. If you take out a reasonable amount of student loan debt and make responsible payments on it after graduation, your credit report will reflect ...
Read More
/

How Do Private Student Loans Work?

Federal students’ loans offer standardized loan types, interest rates and terms to most borrowers. With private student loans, your options and interest rate will vary, though there are some laws that affect all private student loans. Your credit, and that of a co-signer if you have one, will also impact what types of loans you qualify for and the interest rate you’ll receive. Loan Types Lenders may offer different types ...
Read More
/

Wealth Building Assets 101: What is Wealth Building & How to Get Started

According to a study by Credit Loan, three in four people feel they are living pay check to pay check. While their sentiment may be attributed to several factors, many individuals lack the income to support their regular lives. The solution to this problem can be found through a combination ...
Continue Reading

Tips to build wealth in the new tax year

Happy New Tax Year! It's that time when a whole raft of new tax allowances and reliefs become available and many of us wonder whether to make use of them to improve our financial health in the months ahead. Here are 10 simple steps to get your finances in better ...
Continue Reading

Tips from investors on building long-term wealth, plus our advice for getting started

If you’re not sure where to start on your investing journey, you’re not alone. In fact, recent data shows that 41% of adults don’t have any money invested in the stock market. The problem: investing has been shown to be a key wealth-builder over time, and the earlier you start ...
Continue Reading

Steps How to Build Wealth from Nothing Starting Today

1. Educate yourself about money Our mind-set is always the first thing that needs to change before we can truly approach any larger transformations in our lives. The first step to building wealth from nothing is thus to invest time in your financial education. Become familiar with essential terms like ...
Continue Reading

Principles of Building Wealth

Building wealth is a goal that many people aspire to, but it can often seem like an overwhelming task. It takes time, effort, and discipline to be successful with this goal, so don’t be lured by get-rich-quick schemes and too-good-to-be-true opportunities that can send you down a dangerous path. The ...
Continue Reading

Personal Finance Questions You Need to Answer

When it comes to personal finances, it pays to be informed. That means understanding as much about reducing debt or saving for your retirement as improving your credit score or starting an emergency fund. Having a handle on these and other fundamentals will help you make better bottom-line decisions. Here ...
Continue Reading

Maintaining a Good Credit Score

Building and maintaining a good credit score is an important part of growing and preserving your wealth over the long term. You’ll enjoy a lower interest rate and better terms on your loans if you have a strong credit history and high credit score, which can save you thousands of ...
Continue Reading

Investing for wealth building

Real Estate Investing Real estate is perhaps one of the most well-known wealth-creating assets. Historically, real estate has proven to be a high-yielding investment for those who know what they are doing. According to a 2017 study, the average rate of return for real estate over a roughly 150-year period ...
Continue Reading

How to build wealth

In a world of instant gratification, the journey to wealth stands out. It’s about consistent, deliberate choices, not jumping from one financial fad to another. While many people dream of getting rich, building wealth is something different. Getting rich often implies a sudden windfall, like a lottery win or an ...
Continue Reading

How to build wealth in 5 steps

These five simple rules will help keep your retirement savings on track and growing for the long haul and that means a Future You who’s financially secure. Who doesn’t like the sound of that? 1. Automate your savings Life is busy. Maybe you noticed? That means you need to make ...
Continue Reading

How to Build Wealth at Any Age

Trips to visit grandkids, travel adventures and family celebrations at your paid-for home. That’s the kind of retirement many people dream about. You don’t have to earn six figures to turn this dream into a reality. But you do have to live and plan today with that goal in mind ...
Continue Reading

How to Build Wealth: 10 Steps You Can Take

Whether it is from saving or investing, most people have aspirations to increase their net worth or even become a millionaire. Some choose to live frugally to pad their savings accounts, and others take risks through high-return investments, but no matter if you have short-term goals or a plan for ...
Continue Reading

Best investment opportunities

Given the above, what are the best investment opportunities to build wealth from nothing? 1. Stock ETFs Buying the shares of companies is one of the best ways to build wealth. As a shareholder, you benefit from the growth in the company’s value; the company is working for you. The ...
Continue Reading

What is wealth building?

Your definition of wealth probably depends on your own experiences. As the Federal Reserve Bank puts it, “Some people consider themselves wealthy because they live in a very expensive house and travel around the world. Others believe they are wealthy simply because they’re able to pay their bills on time.” ...
Continue Reading

VITAL TIPS FOR BUILDING WEALTH

In many ways, owning a business is a metaphor for life; it’s a balancing act that requires resilience and skill in order to stay afloat. If you’ve been in business for long enough, however, it’s likely you’re beginning to wonder if making a profit is a worthy enough goal. Rather ...
Continue Reading

Top 20 tips for wealth creation

Wealth creation is a slow and steady process that involves financial discipline, consistent investing, and smart decision-making. In this article, we explore 20 top financial tips and how they can help you build a better financial future. 1. Avoid being financially dependent on another person: Being wholly financially dependent on ...
Continue Reading

Proven Strategies for Building Wealth and Achieving Financial Freedom

Want to build wealth? These expert tips will help you build wealth and improve your financial situation. 1. Always consider opportunity cost. If you make 20/ hour: • that night out isn’t 300, it’s 15 hours of your time, or 2 days of work • that car isn’t 50,000, it’s ...
Continue Reading

Keys to Personal Wealth

1. Spend less than you make: It sounds simple, but the secret to building wealth is the same as business success. “It’s not what you make, but what you keep.” Yes, profit. Is your life profitable? If not, begin today with income and a budget. You may work to increase ...
Continue Reading

How to Build Wealth

If you want to build wealth, there are really only two things to get right: • Increase the difference between your income and expenses • Save that difference and grow it exponentially over time That’s it. And yet, the vast majority of people never build any serious wealth. Rather than ...
Continue Reading

How to Produce Investment Income Forever

One way to figure out how much wealth you need to accumulate to reach your financial goals is to determine how much investment income you want it to provide you per year. A common rule of thumb is to withdraw no more than about 4% per year if you want ...
Continue Reading