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Moneyline Blog

  • Teens and Money, Part 2: Credit Cards and Teens

    Credit cards are not just for adults anymore – in fact, one third of all American teenagers are cardholders. However, because it is so easy to get into financial trouble with that little piece of plastic, it is very important to learn how to use it before ever uttering those first magic words: “charge it!”

    What is credit?
    When you pay for something with a credit card, you are borrowing money from the issuer (bank, ...

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  • Using Home Equity

    Using the equity in your home to pay off unsecured debt can be a financially pragmatic decision. Low annual percentage rates, tax-deductible interest (check with your tax preparer), and a single monthly payment can make second mortgages extremely attractive. The money you extract from your home can be used for home improvements, investments, and paying off high interest consumer debt.

    Second mortgages come in two basic forms: home equity loans and home equity lines of ...

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  • Life Stages: How to Manage Your Finances Throughout the Years. Part 1

    Spring has sprung. Mothers Day is coming, then Fathers Day and Graduations. Life is moving along full speed ahead! This is a great time to reflect on the future and what you need to attend to in order to have the life you want. There are certain times in life when particular money management areas need special focus. The list below may remind you of areas of your finances which need special attention now or ...

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  • The True Price of Shopping with Credit

    During the holiday season it may be tempting to tap into the credit cards you have, but beware. Buying with plastic can cost you little or plenty - depending on how you use it. Knowing the true price of credit before you charge can save countless dollars and hours of anxiety.

    Be aware of your grace period, which is the time you have before interest is assessed. This is typically between 15 to 30 days. ...

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  • Before You Buy: Know What You Can Afford

    Don't buy what you can't afford. Simple, right? Well, sort of. While restricting spending to the finite boundary of a paycheck is the foundation of sound money management, actually doing it can be extremely difficult.

    The widespread availability of credit has made not having cash to pay for both necessary and discretionary items inconsequential. Currently about 190 million Americans hold at least one credit card, each card equipped with a typical $3,000 limit. Having immediate ...

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  • The Basics of Credit

    In its most basic sense, credit means having the use of something before you pay for it. This ability to borrow adds flexibility to planning and makes it possible to pay for expensive items over a period of time. There are many types of credit that you can choose from, and each has its own terms and purpose.

    Secured Credit

    With secured credit, an asset (called collateral) secures the loan. Because of this security, the ...

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