HOME EQUITY LOANS: LOW-COST, TAX-ADVANTAGED CREDIT

If a large amount of debt is eating up your disposable income each month, or if you need cash to remodel your kitchen--or to buy a new car--a home equity loan might be your best bet.

With a home equity loan, you borrow a lump sum of money repayable over a fixed term, usually 5 to 15 years, giving you the security of a locked-in rate and a consistent monthly payment. Plus, there's also a tax advantage. Unlike almost any other consumer loan type, the interest on a home equity loan is likely to be tax-deductible ($50,000 if married filing separately).

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HELPING TEENAGERS SAVE FOR THEIR DREAMS

Most teenagers have big dreams. Some dream of owning a car, traveling, or starting a business. Many plan on attending college. All those dreams require cash. So how do you turn that dream into reality? Be a dream achiever and start saving your money.

Think: $1.67 a day!
If you're 13 years old and you save $50 every month until you're 18, you'll have $3,000.

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