One big advantage of owning a home is if you carry out a mortgage when you first purchase it, the mortgage interest that you paid may be tax deductible. This may include the loans you used to purchased your home, the second mortgage, or home equity loans. To be deductible, the mortgage loans must meet all of the following tests: Mortgage is a secured debt on a qualified … [Read more...] about The Home Mortgage Interest Deduction
Debt Management
How Your FICO Score Impacts Your Purchasing Power
I remember the very first time I bought a brand new car for more than a decade ago. I was still a student then and have very little knowledge of personal finance. In addition, I did not clearly understand how this FICO score works. I did not have an excellent FICO score back then, only good, but I was just really surprised when the car sales agent ran the numbers and showed me … [Read more...] about How Your FICO Score Impacts Your Purchasing Power
Why It Makes Financial Sense To Buy A House
Home ownership will always be a dream for majority of us. We seem to associate home ownership with the standard of living. Thus, some of us would feel a sense of  improvement on our living status after we bought the house. We also feel that we have a sense of financial security knowing that we own something of value. Of course, you don't totally own it yet because more than … [Read more...] about Why It Makes Financial Sense To Buy A House
Financing Options for Your Home-Based or Small Business
While most of home businesses require a very low start-up cost, there are still a lot of home based businesses that require some start-up capital to use for working capital and to purchase inventory and equipment. Most people would start with their own personal savings. However, the problem starts when your savings are not enough or you may not have any savings at all but you … [Read more...] about Financing Options for Your Home-Based or Small Business
6 Things To Avoid To Protect Your Credit Score
America lives in credit and it is known that Americans spend more than they earned and it was made possible because of debt and credit. It is nice to pay everything in cash but if you want to purchase big ticket items such as a house or a car, you need to have a very good credit. For the most part, your credit is based on your FICO score and this is one of the most important … [Read more...] about 6 Things To Avoid To Protect Your Credit Score