The 30-year fixed rate mortgage has long been the standard loan term for homebuyers, and for many good reasons. A 30-year loan helps to keep monthly mortgage payments lower, keeping home ownership (and larger homes) within reach of the average homebuyer. And for years, the slight interest rate improvement offered by the 15-year mortgage was…
Thanks to the American Taxpayer Relief Act (also known as the “fiscal cliff” tax bill), one popular tax credit has now become permanent: the Child Tax Credit. However, since we’re dealing with the IRS here, the details of this credit can be a little difficult to figure out. Here is what you need to know…
My uncle comes from a family in the garment industry. I remember once going shopping with him at a fairly low-end clothing store. Before he let me buy anything, he carefully inspected the seams and the fabric, making certain that even the very inexpensive items I was picking out had been built to last. He…
Last year, on a trip back to my parents’ house in Baltimore, I discovered the day after my arrival that I had lost my wallet. It must have fallen out of my purse at some point while I was on the plane. Luckily, the airline found it and sent it overnight to me, so what…
Sometimes our quest to cut down expenses can lead us astray. Not all frugal tips and hacks are created equal, and trying something that worked for someone else might even end up costing you money. Here are four common frugal living tips that often backfire, and what you can do instead: Cut Your Own Hair…
Unlike health and auto insurance, umbrella insurance may not seem like a necessary expense. But the fact of the matter is that umbrella insurance can protect both your assets and your future earnings in the event of a lawsuit. Here is what you need to know this under-utilized insurance: What Is Umbrella Insurance? This insurance…