How to Find Appropriate Financing for Your New Vehicle Purchase

Buying a new (or new to you) vehicle is a fun experience. The feeling you get when driving it off the lot is almost like bringing home a new baby. Unfortunately, unless you’ve followed our advice and saved, saved, saved, in advance… financing is a vital aspect of this process. There are many car loan options in the market today, some are better than others. Finding the right car loan is essential in making a good purchase. Now is the time to start looking at options in your area.

5 Mortgage Expense Hacks

Cutting small expenses from your budget can make a difference, but the best way to make a large impact on your household spending is to hack your mortgage expenses. Because a mortgage is the largest expense for many American households, taking these sneaky steps to reduce your mortgage terms can save you thousands of dollars over the life of the loan.

Financial Freedom: What you Need to Know About Your Mortgage

Buying a house is probably one of the biggest decisions you will make, so it’s important to understand what you’re getting into. Suppose you live in British Columbia and have spoken to a custom home builder in Vancouver and you have determined the cost of your dream home. Some builders work with specific banks to help arrange your mortgage while others leave finding the mortgage up to you.

Although it may seem easier to go with the mortgage provided by the builder, you have to look carefully at the terms of the proposed mortgage. This is probably the largest purchase of your life so don’t be afraid to ask your builder and/or mortgage broker questions before you sign on the dotted line. Often the builder will “get a cut” which may increase the cost of your mortgage by 1% or more, which could add up to thousands of dollars over the life of the mortgage, so it pays to compare. A few minutes of diligence could result in the highest paid moments of your life! If you know what you’re looking at and have a good understanding of your mortgage contract, you will avoid making a costly mistake.

How Paying Interest will Eat You Alive

Whenever you take out a loan or create some form of debt, you must pay interest. Interest is considered the cost of doing business. It compensates the lender for the use of the money. You can think of it as the rent you are paying for the use of the money.  The interest rate that […]

High Performance Savings Accounts

Getting the Most from Your Savings Accounts  Building up a savings account is not as rewarding as it used to be. Interest rates on savings accounts are at all-time lows, which means that you will receive fairly minimal amounts of interest from cash held in most savings accounts, often the interest that you earn is […]

Choosing The Best Bank

By Tim McMahon, editor Finding the right bank is much different than it was twenty years ago. In those days, you went to a bank primarily because it was located in your neighborhood and it was convenient or perhaps because they offered a gift like a toaster for opening an account. Today with the advent of […]