When lenders sit down to review a loan application, there’s one main question they ask: Is the borrower trust worthy enough to lend to? Many factors influence the lending decision, including your credit score, terms of the loan, employment history, collateral, and, your debt-to-income ratio (DTI).
Your DTI is a percentage calculated by dividing your monthly gross income with your monthly debt payments. Follow the steps below to discover your own DTI.Read more
St. Francis of Assisi said, “It is in giving that we receive.” Generosity, whether big or small, is a big part of Christianity. And for those who are trying to match their faith-based values with their financial ones, giving should be part of the financial plan.
When you’re focusing on paying down debt, setting aside money in a savings account each month may seem like a daunting task. Don’t let your savings goals suffer while you’re accomplishing other tasks on your financial checklist.Read more
Despite all your planning and preparing, something will go wrong. Your dishwasher may break. Your car may need repairs. A health emergency may arise. Life happens, and sooner or later you’ll be faced with an unexpected expense. That’s why it’s so important to build in a contingency plan.Read more
Sometimes the hardest part of getting out of debt is getting started. Once you’ve identified your financial goals and initiated new spending habits, it’s time to create a game plan for reducing debt and building credit.Read more