If you’re considering borrowing from your 401(k), you’re probably wondering about the interest rate. Will it be cheap? Will it hurt your retirement? The answer is more nuanced than “low rate = good deal.” The interest rate matte…
Category: Financial Wellness
Income verification is the process of confirming that you actually make the income you list on paperwork for things like loans and leases. If you know what counts as proof of income, the process gets easier. Sending in the right records may help reduce…
Between sign-up bonuses, cash back, travel rewards, and other perks, credit cards have plenty of advantages. However, if you carry a balance every month, interest can make your purchases cost more than expected. In most cases, avoiding interest comes d…
People of all ages struggle with money management. If you learn fundamental financial skills early, it may help you avoid costly mistakes later on. But you might wonder, “How do I make a simple budget for teens with school expenses, savings, and spendi…
If you’ve ever wondered what happens to credit card debt when you die, you’re not alone. It’s a common question, especially during an already difficult time after losing a loved one. Credit card debt usually doesn’t pass directly to family member…
A hard inquiry or “hard pull” is when a lender looks at your credit report to decide whether to extend credit. But how long does a hard credit pull last on your credit report? According to Experian, a hard pull can remain visible on your report for up …
A credit card cash advance is a short-term loan drawn against your credit card’s line of credit. Instead of swiping your card to make a purchase, you withdraw actual cash, either from an ATM, at a bank branch, or through other methods your card i…
Are you paying off student loans or other debt? You might be surprised at how long it takes. Interest capitalization might be to blame. When you know what it is and how it works, you’ll be able to make greater strides toward financial freedom. How does…
A creditor is anyone you owe money to. That includes the obvious ones, such as banks, credit card issuers, mortgage lenders, but also your doctor’s office, your landlord, your electric company, and the friend who lent you $40 last weekend. Federa…
Even after you file your taxes, the IRS may determine that you owe additional money. However, it only has a limited window of time to assess or collect what you owe. This time limit is known as the IRS statute of limitations. So how far back can the IR…