Home > Blogpage 10

Blog

Why a Reverse Mortgage is a Bad Idea

Why a Reverse Mortgage is a Bad Idea

If you are a homeowner, have you ever considered getting a reverse mortgage on your home? Plenty of people have gotten them for all kinds of different reasons. For example, some people have gotten them to go back to school, pay off debt, pay medical bills, or start their own businesses. Others have used the funds for retirement, travel, or to buy a second home. At least some of these reasons to get a reverse mortgage sound like good ones. But the truth is that there are a lot of reasons why a reverse mortgage is actually a bad idea. Equity is Reduced A reverse mortgage lowers the amount of equity you have in your home. Of course, your home could increase in value over the course of the loan which may cancel out the reduction in equity. Whether or not it does depends on the amount of the reverse mortgage and how much your home increases in value. That’s a pretty big gamble to take, however. There is always a possibility that housing prices will drop causing the value of your home to dip below the amount of the loan instead. This is one reason a reverse mortgage is ...

Read More »

5 Reasons to Never Loan Money to Friends

5 Reasons to Never Loan Money to Friends

There are lots of benefits of having a close relationship with your friends. For example, you have someone to hang out with and someone who “gets” you. You also have someone you can depend on when you need help. Of course, your friends should also have these same benefits in their relationship with you. But what if they use that relationship to ask for something more? When a friend gets in a jamb, you want to help them out. But should you go so far as to also loan them money when they need it? Some people might feel differently, but there are actually several reasons you should to never loan money to friends. 1. It May Never Be Paid Back When you have a friend who needs money desperately, you probably empathize with their situation. But you should be careful to never loan money to friends without a contract in place. Without specifying these details you have no idea when or if the money will ever be paid back. In addition, the friend has no incentive to pay it back because there are no penalties for not paying. An arrangement such as this can also cause both you and ...

Read More »

How To Keep Your Valuables Safe While On Your Upcoming Vacation

It is important to make sure that you are planning in advance for much more than just where you are going to go and the places that you are going to explore. While those are very important issues to address, you’ll also want to make sure that you are putting a lot of thought into what you are going to do with all of your valuables. Remember, you will be leaving the majority of your valuables at home and then taking a small portion of them with you. Therefore, you need protection for everything everywhere. At Your Resort If you have decided to book golf in Dubai, for example, you will want to call ahead to ask about their in-room safes. If they don’t have one, you’ll want to request a room that has one. Just remember, while you can bring your own small box safe, it is something that can be easily carried out of your suit, it might not be very good at protecting your precious items. Since most people like to keep things secure such as their keys, wallet, and jewelry, this is a very important part of your planning. Should you find that the resort is ...

Read More »

4 Types of Phone Apps that Can Help You Get on the Best Financial Foot Possible

When you start off on your own, it is important to take the time to make sure that you do everything that you can to get off on the best foot financially. There are many young people who do not realize how important it is to build a nest egg to fall back on in case anything goes wrong in the future. If you want to be able to track your finances in the easiest way possible, consider using your phone to do so. There are many great phone apps that can help you track your financial decisions to ensure that you have the best financial start that you can. The following guide provides you with a few different options to consider using to build the best financial start you can have in life. Consider a Great Banking App There are many great banking apps available that allow you to track the money that is in your bank account at all times. Look for a banking app that allows you to deposit your checks via your phone, like the one offered by OakStar Bank. This will allow you to deposit checks from anywhere without having to make a special trip ...

Read More »

Saving Money On Utilities Made Easy

While running a household can be extremely expensive, there are ways to save on your utilities, including water, electricity, natural gas, sewer service and garbage pickup. A single home can spend up to $400 or more a month on their utilities. Even if you were tempted to have one or more of the utility services disconnected, it would be extremely difficult to do without them. Instead of going this route, you should consider finding ways to reduce these expenses and below, you will discover several tips to help you do exactly that.

Read More »