When it’s time to take out a mortgage or open a new credit card, one of the first things a lender or creditor does is check your debt-to-income (DTI) ratio. Generally, an acceptable ratio is 36%. Anything higher, and some lenders begin to worry you’re already carrying too much debt…
It’s one thing to operate a died hustle, but another entirely to run a true business, and there are both glaring and subtle factors that differentiate the two. In our technology-enhanced and social media-infused era, people are starting businesses at a pace never before seen…
It’s important to build good savings habits as early as possible, but there are certain mistakes to be mindful of at every age. Here are some of the most common savings mistakes to avoid at every age.
Savings mistakes to avoid for 20-somethings…
One of the basic tenets of personal finance is to set aside money for savings. However, determining how much you should save each month can be challenging, especially if you’re not sure where to start.
The amount of money you should save each month will vary…
The last few years have been unkind to checking accounts and credit card statements across the country. But if you’re buckling under the weight of looming bills, crushing debt, and insufficient income, there might be a few bright spots that you’re glossing over. It’s easy to be pessimistic…
Whether it’s an online bank offering a higher yield, cutting the cord on your cable or using modern ways that make budgeting easy, every dollar counts, especially if you’re living on a fixed income.
Millions of baby boomers also face the daunting challenge…
Recently, on the NewRetirement Facebook group, Linda asked about what she should do with a recent inheritance. She asked whether she should pay off her mortgage or invest.
She wrote: “I am 77 and have a mortgage with $150,000 left…