Do you ever wish you could go back in time and make different financial decisions? Some of the worst financial decisions are made when we are young and just starting to manage our own money and bills. At 18, you get that first taste of freedom, you can get your own credit card, open your own bank accounts without a parent, and even get a loan for a car on your own. But, making the wrong choices this early in the financial game, can set you back and affect your credit for years to come.Continue reading “Finance tips every 18 year old should know”
There’s often a debate over which retirement fund you should choose: a Traditional or Roth IRA? As a millennial, there is a definite advantage to choosing one over the other. Continue reading “Why every millennial should have a Roth IRA”
It seems keeping your personal information safe these days is like a full time job. From managing all your online accounts to monitoring your credit to validating what is spam. We live in an online global economy. Gone are the days where you can trust every email, every phone call and every piece of snail mail. Unfortunately, we must be on high alert 24/7, but it shouldn’t be a full-time job just protecting your personal information! Continue reading “7 Ways to Protect Your Personal Data”
Owning a vehicle is no longer a luxury but a necessity for most people. Many of us work in places where vehicles are required to get around, especially in Litchfield County were public transportation really doesn’t exist. You will most likely need to purchase a vehicle that costs more money than you have on hand in your savings account. So, the question is, “Should I buy or lease a vehicle?” Continue reading “Buying vs Leasing Your Next Vehicle”
“Will that be Credit or Debit?”
Think about how many times a day, week, or month you get asked by a salesperson or a card reader if you’re paying with Credit or Debit. For many it’s a personal choice. Some prefer not to have credit cards, others like to rack up points for airline miles, cash back options and more. Continue reading “Credit Card vs. Debit Card – What’s the difference and when should you use them”
The presents have been opened and put away, the tree and holiday decorations have been taken down or will be shortly, and the credit card bills start rolling in – UGH! No one wants to start the New Year off in a pile of debt, but it’s a pretty easy trap to fall into and it can be paralyzing! Continue reading “Overwhelmed with Debt? 6 Steps to Get You Headed in the Right Direction”
Identity theft has become a serious problem over the past decade, it’s the virtual equivalent of being mugged on the street, although much sneakier. Months may go by before you ever realize that your identity has been compromised – it’s a little unnerving, to say the least! And, it’s not just a problem in the US – it’s a worldwide issue. Continue reading “Tips for keeping your identity safe while traveling overseas”
It’s certain that the next few years will see some significant changes in the American health insurance system. With price fluctuations and carriers coming in and out of the market, it’s been difficult for families to budget. Currently, there is one program that will help you reduce monthly fees and get a tax break: Health Savings Account (HSA). Here’s what you need to know about HSAs, and how they’re changing in 2017. Continue reading “Health Savings Accounts in 2017 — Your Questions Answered”
Of the many ways there are to tap into the equity that your home has acquired with time and appreciation, one of the most flexible is to set up a Home Equity Line of Credit, or HELOC, as it is commonly known. Unlike a standard home equity loan that is paid to you in a lump sum and paid back in a fixed amount of time, usually at a fixed interest rate, a HELOC establishes a certain level of credit, secured by a lien on your home, against which you may draw as you need it. It can provide you with a comfortable cushion for unexpected expenses like small renovations, extra college bills or medical expenses.
Your home is probably your biggest asset. Have you ever thought of using the equity in your home to finance other “stuff”?
A home equity line of credit, or HELOC as we call it in the banking world, allows you to borrow money against the value of your home. It works like a credit card, you withdraw money as you need it> The difference between plastic and a HELOC is a home equity line of credit carries a low interest rate and is tax deductible. Win-Win!
5 Situations where a Home Equity Line of Credit makes sense: