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Personal Finance

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The decision to rent or buy the place you plan to live in doesn’t come easy. There are a number of factors to consider that go way beyond whether you have the finances required to buy. Without thinking long and hard about it, you might end up in troubled waters. The fact is, many people end up owning simply because it’s widely considered to be the next logical step. Sometimes though this isn’t the right choice, and they’d actually be better off renting. On the other hand, a large number of tenants could stand to benefit more from buying. It…

This is a Guest post from our friends at hashching.com.au Planning to buy your first home? Congratulations! But are you aware how much house you can afford to buy? According to most lenders, your monthly house payments must not exceed 30 percent of your pre-tax income. However, there are many other factors that determine your affordability, including your income, credit history, as well as the size of your down payment! Yes, gone are the days when you could borrow the full sale price of a property. Today, lenders require you to put upfront a certain percentage of the sale price as…

A lot of people have asked us if there is a way to know when it’s ok to buy a house and stop renting, now that’s a question that will never have a universal answer to fit every person’s dilemma as we all have different situations going on in our lives. But after gathering together with our team here at Rentown.net, we came up with a list of 6 of the most important questions we all asked ourselves before buying our first home, we put them all together in an infographic which we hope can help you further analyze your own…

Job hunting can be a strenuous endeavor, not to mention humbling. It leaves you open to scrutiny and makes you feel vulnerable even if you have nothing to hide. For some, the act of looking for employment opportunities can be a soul-crushing experience. Regular background checks, while annoying, are at best tolerable. But when a prospective employer starts asking if they can check your credit score? That’s the part where things become a little contentious. Companies can request an employer credit report from one of three major credit bureaus — Equifax, Experian and TransUnion. The use of credit reports in…

“This Article was provided to us by our friends at hashching.com.au, Australia’s first online marketplace allowing consumers to access great home loan deals” Buying a home is a big step in your life, and it is normal to feel a flurry of emotions ranging from excitement to confusion to even stress. However, a little planning can go a long way in taking the stress out of the situation and help you navigate the real estate market with confidence. Climb the real estate ladder faster by following these 7 steps before you start hunting for your dream home: 1.Check your borrowing capacity…

So you’ve finally decided to move out of your Mom’s basement and rent an apartment. After poring over prospects, you’ve set your sights on this cozy condo located near a major park surrounded by harbor villages and a few upscale restaurants. Better yet, the view of the sunset outside the bedroom window is to die for. You’re getting a new lease (no pun intended) on life and you couldn’t be more excited. And then just as when negotiations are going smoothly, the landlord suddenly asks you to authorize a credit check. It catches you off guard, and then you feel…

A bad credit score/record can affect different aspects of a person’s life because it represents an obstacle in major transaction or deal they wish to close. There are many people — from insurers to lenders to employers to landlords — who have interest in your credit score.  Your credit history contains reports about how you to deal with cash, the extent to which you can be relied on especially when paying your monthly installments, and even the kind of risk you pose. If you don’t have a good credit score/history, you could end up paying more cash over time and…

When it comes to getting a good credit score, your credit cards can either affect you negatively or positively. There are three main things that can damage your credit report; having too many credit cards, going over the limit of credit cards and having long overdue credit card debts. Let’s examine them one after the other. Having too many credit cards Opening more than one credit card account within a short timeframe can negatively affect your credit score. It won’t only bring about a drop in your credit score, but card issuers may think that your financial condition has changed.…

It doesn’t matter how much money you have, the credit score is all about staying up to date with different payments. Debt is a lifestyle for people in the USA, with an increase in overall American household debt by 11% in the previous decade. At present, the credit card debt balances for the average U.S household is $16,883 in total, and an average U.S household with any other kind of debt (including mortgages) owes a total of $137,063. The reason for this large increase in debt is because a lot of people don’t know how to smartly handle their debts,…