Quiz: Credit Scores and Credit Reports Lenders judge you by a number most people do not understand. See how well you understand scores, reports, and what moves them. I’ve often heard people talk about credit report and credit score interchangeably. But, based on what you’ve told me, I think they are different, aren’t they? That’s …
Quiz: Credit Scores and Credit Reports Lenders judge you by a number most people do not understand. See how well you understand scores, reports, and what moves them. We’ve talked about the importance of periodically reviewing our credit report. But is there a way to get a copy of my credit report for free? Each …
Quiz: Mortgages and Buying a Home A home is the largest purchase most people make, and the most borrowed for. See how well you understand mortgages, down payments, and renting versus buying. As we’ve discussed earlier, both Conventional Mortgages and FHA Loans help us buy a home through a loan. We make a down payment, …
What is a digital wallet? A digital wallet is an app that is an electronic version of your wallet – it stores information about your credit cards and bank accounts in electronic form on your phone. It can also store your driver’s license, health insurance card and other ID documents, as well as your …
When we talked about PE ratio, you told me that it can be used to judge whether a stock is over-priced or under-priced. So, does a low PE mean that a stock is under-priced, and a high PE mean that the stock is over-priced? Not really. Just knowing a stock’s PE ratio doesn’t help …
Quiz: Loans and Borrowing Basics Borrowing can be a useful tool or a costly trap. Test your grasp of debt, APR, and smart borrowing. What is a Home Equity Loan? It is a loan where you borrow money using your home equity as collateral. It is also known as a second mortgage. How does a …
What is Home Equity? Home equity is based on the fact that even if your home is in your name, you don’t really own 100% of it if you have borrowed money to buy it and are still repaying the mortgage. Home equity is the portion of your home that you truly own. Can …
We’ve talked about credit cards before, but recently I heard about a virtual credit card. What is that? A virtual credit card is a temporary or disposable card number associated with your existing credit card account, and does not come with a physical card. Virtual credit cards are also known as virtual account numbers, …
Quiz: Everyday Risk Protection Protecting your money is not only about insurance. Test your grasp of identity theft, FDIC insurance, and financial safety nets. I’ve heard in some bank commercials that the account is FDIC insured. What does it mean? FDIC stands for Federal Deposit Insurance Corporation. It is a federal agency that insures deposits …
Quiz: How Money Moves Behind every payment is a system moving your money. Test what you know about checks, ACH, and wire transfers. What is Direct Deposit? How is it different from a regular deposit or a check? Direct deposit is the deposit of money, directly from the bank account of the payer into the …
