Entries by Elyssa Carlos

How to Make Realistic Financial Goals

For many, finances are a constant worry. You may wonder how to get out of debt, how to afford a home, how to increase your portfolio returns, and so much more. The key to these questions lies in setting realistic financial goals. Here, we will guide you through the process of creating achievable financial goals […]

Should I Use My Home Equity to Pay Off Debt?

In today’s financial environment, homeowners looking to get out of debt typically turn to their most valuable asset: their home. Individuals can use home equity to pay off outstanding debts by tapping into the accumulated value of their property. However, before going on this financial adventure, it is critical to weigh the pros and cons. […]

How Much Debt is Too Much Debt?

The word “debt” is often associated with images of stress, past due notices, piling stacks of bills, and possibly a low credit score. However, if managed properly, debt can be a good thing. In fact, some debt is almost always necessary if you want to acquire certain things like a home, new car, or higher […]

What You Need to Know About Joint Debt

You can obtain joint debt in several ways. The most obvious way is when you get married and begin to share finances, including a mortgage, auto loan, credit cards, and more. However, there are less obvious ways to obtain joint debt. Perhaps you applied for a credit card with your child to help them build […]

How Debt Relief Works

When debt becomes unmanageable, you might investigate options for debt repayment and debt relief. While debt repayment involves paying back borrowed money to creditors, debt relief might be able to shave money off your balance owed. Here’s a breakdown of what debt relief is and how it works.   What Is Debt Relief?  Debt relief, […]

How a Credit Score is Calculated

Your credit score can impact your entire financial future. It can determine where you live and what you drive. It can control your access to things like banking accounts, credit cards, loans, insurance, and sometimes even jobs. Having a decent credit score is a necessity in the U.S. but how is credit score calculated? What […]

What You Need to Know About Bankruptcy

Sometimes debt becomes so unmanageable that bankruptcy appears to be the only solution. While bankruptcy seems like a fresh start, you should know and understand the process and consequences before going through with it.  What is Bankruptcy?  There are two common types of bankruptcy – Chapter 7 and Chapter 13. Chapter 7 bankruptcy is the […]

Should I Use a Personal Loan to Pay Off My Debt?

Higher inflation rates have meant inflated interest rates on credit card debt, making it nearly impossible to make a dent in account balances. When credit card debt has become too much to manage, you might wonder what options are available without having to resort to extreme measures. One of the more popular options is using […]

What is a Charge-Off and How Does it Affect a Credit Score?

When we face large sums of debt, we might be familiar with the term debt collection. Debt collection is when a third-party collection agency tries to collect past-due debt from borrowers. What you may not know is that in order for your debt to reach the collections step, it must first be charged off. Here’s […]

Financial Resolutions for 2023

With higher interest rates, now is the time to get serious about your finances. At least some of your income should be going towards savings or debt, and both if your budget will allow it. Here are some financial resolutions you can make for 2023.   Reevaluate (Or Create) Your Budget  When was the last time […]