When my husband bought his first house in January 2005, he qualified for and took on a piggyback loan. Basically, my husband took a traditional 80% mortgage on his new house, and also took a 20% mortgage in the form of a higher-rate home equity line of credit to cover the “down payment.” He took […]
Though we all know that overdrafting your bank account is bad, it’s also something that we’ve probably done with minimal — if any — consequences. For a few reasons, overdrafting has recently become an easier and more acceptable bad financial habit. Why Overdrafting Has Become More Common Overdraft protection Before overdraft protection, you had to […]
One of the great things about technology is that it gives us a world of choices. From finding quick dinner recipes to comparison shopping, the internet is an inexhaustible source of information. This is also true of banking. Thanks to technology and the internet, you’re no longer limited to the banking institutions in your geographic […]
The bank is a great place to keep money safe and readily available, but how much money do you really need to keep in your savings account? My wife and I are facing this exact question. With a transient lifestyle and a plan to head south in January, we need to have a buffer in […]
Since they played a large part in the financial crisis, banks have come under scrutiny lately. A bailout was enacted to try to get some banks back on their feet, which rightfully angered the general public. The truth is that most people need banks. If you don’t want to use a bank or a credit […]
When you sign up for a new banking account or loan, you’re likely to come home with an entire envelope of paperwork. But have you ever stopped to actually read all that fine print mumbo jumbo? In the case of financial accounts, what you don’t know can lead to financial hardship. Here are a few […]
