Key takeaways Getting approved for a HELOC or home equity loan isn’t easy, with nearly half of applications denied. Poor credit, a high debt-to-income ratio or a large outstanding mortgage balance may contribute to being rejected for a HELOC or home equity loan. If you are denied, paying down…
Planning for retirement can be a challenge for families who are balancing everyday expenses, raising children and sometimes even supporting aging parents. With so many financial priorities competing for attention, long-term goals like retirement can easily fall to the background. But with the right strategies and planning approach, families can…
Key takeaways Before applying for a debt consolidation loan, check your credit score, decide how much you want to consolidate and crunch some numbers. It’s crucial to compare lenders and pick a debt consolidation loan that either lowers your monthly payment or reduces the total amount of interest you pay.…
Key takeaways Knowing how to calculate home equity gives homeowners a way to understand their home’s worth — and potentially liquidate it for their needs or wants. To calculate your home equity, take your home’s appraised value and subtract your mortgage balance: the difference is essentially your equity stake. Equity…
Trending
Spotlight This Week
More Articles
Personal Finance
Last year, on the day before Tax Day, my mom was scheduled to fly into Philadelphia International Airport to stay…
The nation’s 75 million Social Security recipients will receive a 2.8% cost of living adjustment (COLA) increase in their benefits…
Featured Articles
You’ve accomplished the first step on the road to financial recovery after being entrenched in debt. So, what’s next? For starters, you’ll want to focus on rebuilding your credit score, staying out of debt and increasing your income.These tips will help you gain control of…
Dept Managmnt
By Monika Ritchie These days, getting yourself financially prepared for anything that comes your way may feel overwhelming, to say the least. You…
Banking
For fintech startups, the first five years of the decade have been a roller-coaster ride. At the outset, companies were awash in easy…
Credit Cards
All News
From macroeconomic factors like inflation and job-market uncertainty to sector-specific disruptions, investors face risks big and small. Building a portfolio that has at least some less risky assets in it can be useful to help you ride out market volatility. The trade-off, of course, is that in lowering risk exposure,…
PBNJ Productions/ Getty Images; Illustration by Austin Courregé/Bankrate Key takeaways Several emergency loan types, including personal loans and credit card advances, can fund urgent needs quickly — in some cases within one business day. Payday loans and title loans should be used as a last resort since they come with…
Key takeaways Private student loans may offer higher borrowing limits and potentially lower interest rates compared to federal loans, but they lack benefits like income-driven repayment plans and loan forgiveness. Private student loans may also be tax deductible, but they can carry the risk of potentially not being discharged in…
Dougal Waters/Getty Images Key takeaways First-time car buyer programs offer flexible qualification requirements and other incentives to make it easier for those with little or no credit history to finance their first car purchase. These programs typically have eligibility criteria such as being at least 18 years old, providing proof…
Buy now, pay later (BNPL) as a payment option is available seemingly everywhere. From department stores to airline tickets, you can make payments on small and large purchases with the convenient payment model. But as simple as it seems, buy now, pay later can be a slippery slope if you…
Delmaine Donson/Getty Images Key takeaways Joint checking accounts let two people manage shared expenses with equal access to funds — ideal for couples, parents with teens, or adult children helping aging parents. The best joint checking accounts offer no monthly fees, competitive APYs and features like overdraft protection and mobile…
Key takeaways Many major banks and credit unions offer 24/7 live customer service via phone or online chat, including Ally Bank, Discover Bank, Marcus by Goldman Sachs, U.S. Bank, TD Bank and KeyBank.) Most traditional banks limit customer service to business hours, but online banks typically offer extended support. 24/7…
Image by PM Images/Getty Images; Illustration by Hunter Newton/Bankrate Mortgage rates were unchanged this week, with the 30-year fixed rate again averaging 6.30%, according to Bankrate’s latest lender survey. Current mortgage rates Loan type Current 4 weeks ago One year ago 52-week average 52-week low 30-year 6.30% 6.32% 6.94% 6.68%…
Key takeaways Car insurance companies have the right to not offer standard coverage to drivers with serious or numerous infractions on their driving record. Some standard car insurance companies may offer coverage to high-risk drivers, but more often you will need to get a policy from a carrier specializing in…
When unexpected expenses pile up and the emergency fund runs dry, where can you turn for money? For many people, their biggest stash of savings is hidden away in retirement plans, such as IRAs and 401(k)s. But if you withdraw money from a 401(k) or IRA before turning 59½, generally…
Editor's Pick
