When you're ready to say goodbye to steady rent increases and hello to a stable housing payment, you may think applying for a mortgage should top your to-do list. But to qualify for the lowest interest rate and most favorable repayment terms, there are at least three actions you should take before you apply for a home loan. 1. Check Your Credit Mortgage lenders require assurance that you'll repay...

On the road to a comfortable retirement, you're going to experience a few bumps — and maybe even a detour or two. One obstacle that can hinder your retirement plans is the need to financially support your adult children. A recent survey found that 50% of respondents have sacrificed or are sacrificing their own retirement to financially assist their grown kids. The level of assistance can vary from...

Having a baby is a life-changing event. When a tiny human relies on you for food, clothing, and shelter, financial priorities change. You may have already figured health care expenses and child care costs into your budget. Still, the sticker shock of new baby expenses may have you stumbling for a seat in your nursery glider. A NerdWallet analysis found that for a $40,000 income household, the...

Your first credit card likely accomplished two goals. First, it paid for purchases without immediately affecting how much cash was in your bank account. Second, it was the beginning of building your credit history. But now you're probably wondering, "How many credit accounts do I need to strengthen and maintain good credit? Is one too few? Are five too many?" Discover the answers to these, and...

Consumers often utilize either unsecured credit or secured credit to get the money they need to make large purchases or pay off debts. Like jelly and jam, these two credit types sound similar. But their underlying differences could flavor your financial future in ways you hadn't considered. Before applying for either type of credit, it’s important to gain a basic understanding of each one. What is...

You already know that potential creditors, like mortgage lenders and credit card issuers, review credit history reports and credit scores as part of the loan approval process. They want third-party confirmation that you repay debt obligations consistently. But why would an employer, landlord, service provider, or other company who is not extending credit want to look at your personal financial...

Pay now or pay later. If only the decision on how to cover certain costs was that simple. While saving six months to purchase a big-screen television might be a no-brainer, saving for larger expenses is a different story. It's often easier to pay for big-ticket items, like hotel and airfare to attend your cousin's destination wedding, with a credit card or loan. But that debt could interfere with...

Waiting until the perfect time to start building your savings nest egg could be costly. If you'd like to retire one day, or at least work less than you do now, a nonexistent or irregular savings habit will eventually bite you in the wallet. On the other hand, starting your wealth-building journey early could mean you only need to set aside a small, consistent amount each month - and let compound...

Unless you plan on paying cash for a home, car, or other significant expense, you'll need good credit to secure favorable financing. Your credit health will influence interest rates, repayment terms, and even loan approval. While many people focus on building good credit, few recognize the need to actively protect it. Here are three behaviors that could harm the credit you've worked so hard to...

Using a tax refund to splurge on a mini-vacation, luxury item, or other special purchase provides a temporary thrill. But the excitement of treating yourself is typically short-lived. While there's nothing wrong with enjoying "found" money, using some of it to help improve your credit can provide longer-lasting benefits. Here's how to use your tax refund to improve your credit. Get caught up on...