If you have owned your home for a long enough time to be able to pay down the balance and free up some equity, both loan options can be viable ones to consider, should you find yourself short on funds. But there are differences between a reverse mortgage and a home equity loan.
Making New Year's resolutions is easy, but we know that sticking to them can be a lot harder. While many of us are resolving to ditch the junk food or to get to the gym more often, it's also a great time of year to shape up your retirement savings.
It has been widely reported that the last recession and subsequent sluggish recovery were especially brutal for millenials. The sleeper story is the subsequent impact all that joblessness has had on parents of millenials.
My pastor recently suggested that I get informed on my elderly parents' financial situation and end-of-life plans so I can be better prepared when something happens to them. What's the best way to handle this and what all do I need to find out?
For a few months I hadn't been able to pay the minimum balance on the card I had, and I was still at a steady pace of charging around $1,000 a month. When I saw the amount of debt I had on my card, I freaked.
You have been fortunate enough to pile up savings in your Individual Retirement Account for all those years at work, and it's grown to a tidy sum. At age 70 1/2 , you need to start making withdrawals. Here is some good advice to avoid tax traps.
There is no point bemoaning the fact that TV exists or that your kids are subject to an inescapable bombardment of commercials on it. We know it does. We know they are. So make use of it. Talk to your kids about what they see on TV.
Regardless of where you live, if you're not willing to give up an occasional meal out just because you're bringing along the little ones, try these tried-and-true secrets from our Moms Talking Money bloggers.
Supporting fundraisers is a great way teach your children the concepts of charity and volunteerism. It is also an important way of reinforcing money lessons in the real world that will last a lifetime.
The best advice I can share with other moms is this: Don't give in to guilt. Your kids won't love you less because you refused to buy them the latest video game. If anything, they'll love you more when they see you as the strong and financially capable woman who keeps a roof over their heads.