I Paid Off A Cheap Mortgage And It Was Mathematically Wrong
The spreadsheet said it cost me about $139,000 in expectation and the spreadsheet was right. I did it anyway, and I would sign for it again.
Topic
debt
HELOC Or Cash-Out Refinance: Which Reprices Everything
A cash-out refinance reprices your entire mortgage, not just the money you take. A HELOC leaves it alone and hands you a variable rate instead. Both are secured on the place you sleep.
How To Pick A Student Loan Repayment Plan
Plan names change, the two numbers do not: what you pay each month and what you pay in total. Stretching $40,000 from ten years to twenty-five saves $186 a month and costs $24,026.
I Closed One Credit Card And Lost 24 Points
Closing one card removed $5,000 from my available credit and moved my utilisation from 20 per cent to 30 per cent without changing my debt by a cent. The age effect is real too, and it arrives a decade late.
Avalanche Or Snowball: Which Debt Method Actually Wins
Avalanche and snowball run on the same five balances, to the dollar and to the month. The gap between them turns out to be smaller than the argument about them.
Why A 7 Year Car Loan Costs $4,090 More
Dealers negotiate the monthly payment because it hides the price, the term and the trade all at once. Hold the payment fixed while the term stretches and you hand them $18,000 of room.
The 5 Things That Move Your Credit Score, By Weight
The most used scoring model publishes exactly how much each input counts, and two of the five explain almost two thirds of the number. Most of what people worry about is in the other three.
The Balance Transfer Fee Is Not The Number That Matters
A 3 per cent transfer fee on $6,000 is $180, and at normal card rates it pays for itself in under two months. The number that decides whether the transfer works is a different one entirely.
Where Your Money Should Go First, In Six Steps
Six steps, in sequence, with the arithmetic that puts each one where it is. The order matters more than the amounts, and I learned that the expensive way.
Why The Minimum Payment Takes 18 Years To Clear $6,000
The formula is designed so the balance falls slowly, and it is legal, disclosed and printed on your statement every month. Switching to a fixed payment instead takes about a minute.
Compound, weekly
One money decision a week, with the arithmetic left in.
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