During the pandemic, students who had government student loans did not need to make any loan repayments. The interest was also stopped from accumulating, beginning Mar. 13, 2020. At the same time, borrowers were able to deduct interest paid on their loans up to $2,500 per year from their taxes. Last year, President Joe Biden…
Looking for a Student Loan Interest Deduction? You May Still Qualify
February 15, 2023
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What Mortgage Company Changes Mean for Your Home Loan
It’s been a bumpy ride for mortgage companies lately. Some lenders have gone out of business, merged with other companies or narrowed their focus. And more changes are likely in 2023. What does all this mean for borrowers? Here are answers to common questions, whether you’re shopping for a mortgage or paying off a home…
Spending: Where Travelers Go for Cosmetic Surgery
By Emma Patch From Kiplinger’s Personal Finance Traveling abroad for lower-cost cosmetic procedures remains a burgeoning industry, and hundreds of thousands of Americans do so each year. Most cosmetic surgery is elective and not covered by insurance, and it costs a pretty penny. Travelers having cosmetic surgery should heed the advice of their doctors regarding…
How to Get Your Credit Score Above 800
February 3, 2023
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One of the best things you can do for your finances is to have a good credit score. Having a good score will help you get some good deals on credit, but the best deals come to those with credit scores of 800 or more. Along with it, you can enjoy the 800 credit score…
Construction Loans—What You Need to Know
Are you thinking about building a home? Unless you have the cash on hand, you will need financing. Building a home is different than purchasing a home. You take out a different type of loan. If you plan on building, it’s essential to know the difference between a new construction loan and a mortgage. Construction…
In Your Debt: How Couples Can Team up on Debt Repayment
Between financially helping his parents and losing income as a result of the COVID-19 pandemic, Jeremy Mazza landed into serious credit card debt. Relief came from a source he wasn’t expecting: his partner, Ginna Lambert, who had come into a small inheritance. She suggested “investing” part of her bounty in their shared future by lending…
What Does President Biden’s New Student Loan Repayment Plan Involve?
January 27, 2023
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College graduates hope that a new student loan repayment plan recently proposed by President Joe Biden will be passed. The plan, proposed on Jan. 10, 2023, will bring considerable relief for many graduates by reducing their payments and possibly offering some form of debt forgiveness after so many years of payments. The new proposal was…
Reaching the US Debt Ceiling Could Affect Social Security Benefits
January 26, 2023
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On Jan. 19, 2023, the U.S. government again reached its debt ceiling. Congress sets the limit, and once reached, no more debt can be incurred without paying on the national debt. Disagreements have left Congress trying to figure out how to proceed. Many are afraid that it will affect Social Security and Medicare payments. In…
Using Home Equity Credit? What Not to Do
January 23, 2023
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A home equity line of credit (HELOC) uses your home’s equity to finance a variable interest-rate loan. You wouldn’t have the money upfront like you would a conventional loan. Instead, you draw against your line of credit. With a HELOC, your home is your collateral. There are times a HELOC is a worthwhile mechanism. But…
How to Plan for Saving Money Each Month
What are your plans for your retirement years? According to the 2022 Transamerica Retirement Survey, the top two retirement goals are “traveling” and “spending more time with family and friends.” But to reach those goals, you’ll need to know how to plan for saving money. Unfortunately, over half (55 percent) of Americans admit they’re behind…
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