Published on: June 14, 2024 Secured and unsecured loans are two broad categories of loans with one major difference: the need for collateral. For example, when purchasing your dream home, you might consider applying for a loan, but notice that the interest rates on home loans are significantly lower than on personal loans. Why then? … Read more
When applying for a loan, lenders consider several factors to ensure that you are a responsible borrower who can comfortably repay your debt. Lenders will only lend you money if they know you can repay them, but how can you be sure? This is where the debt-to-income ratio (DTI) comes into play. It’s a factor … Read more
Although mortgage rates have already seen some improvement since the election dust settled, they remain quite high. At last glance, the 30-year fixed rate was hovering around 6.875%, down about 0.25% from its recent highs. It’s been a good few days, but rates are still at least 0.75% higher than they were in mid-September. Why … Read more
Have you ever wondered why you pay interest on a loan or earn interest on your savings? It all depends on interest rates. Interest rates affect everything from mortgage and auto loans to the financial activities of businesses and governments. When you borrow money, you pay a fee to use it for a certain period … Read more
Andrey Zastrozhnov / Shutterstock.com Medicare is a lifeline for many seniors, providing basic health insurance backed by the federal government. However, it doesn’t cover everything, leaving some unexpected out-of-pocket expenses for beneficiaries. Understanding these gaps is key to effective financial planning for retirement. Here are seven essential expenses that Medicare typically doesn’t cover.
MSMEs are important to the country’s economy as they drive innovation, create jobs and contribute to GDP. MSME loans provide funds for MSME expansion or for carrying out day-to-day operations. However, the cost of these loans depends on the interest rate, which influences the financial health of MSMEs and their ability to grow. MSME owners … Read more
Published on: August 5, 2024 Personal loans generally have a repayment term of between 12 and 60 months, or even longer in some cases. However, it may happen that the borrower decides to repay the loan before the end of this period. Commonly called foreclosure, this process involves settling a loan before its due date. … Read more
It’s a story as old as time. Someone is trying to time the market, but failing miserably. Then, they either miss out completely or chase an opportunity that no longer exists, and in doing so, they may overpay. Recently, over dinner, a friend told me a story that seemed worth sharing. These were two families … Read more
Published on: August 13, 2024 Imagine finding the perfect smartphone: a sleek design with top-notch features and everything you’re looking for. But the only problem? The price is a bit expensive. EMI, now a familiar concept, allows you to divide the cost into manageable monthly payments. For example, instead of paying ₹50,000 in one go, … Read more
Chay_Tee / Shutterstock.com Finding an evening job can feel like navigating a maze. You’re struggling to balance your daytime commitments with the search for a part-time job that pays the bills and enriches your life. But what if you could find a flexible job that fit your evening schedule and you could do from home? … Read more