Featured Napkin
Balance Transfers
Shell Game
Balance transfers are a way to move what you owe on one (or more) credit cards and loans onto another credit card. It’s a strategy people usually use to take advantage of a low interest rate on a new card—typically so that they can save on interest and pay off...
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FHA Loans
Helping Hand
FHA loans are a type of mortgage loan that’s available to people who might not qualify for...
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Credit Report
Good Marks
Your credit report is a detailed history of your past use of credit. It’s a bit like...
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Getting Out of Credit Card Debt
Pay the Piper
Credit card debt can be overwhelming. As interest accrues, your balances may keep increasing even if you’re...
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FICO vs. VantageScore
Settle the Score
FICO and VantageScore are two of the most common credit scoring models. Contrary to popular belief, you...
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Paying Off Student Loans
Take a Load Off
It might seem like there’s only one way to pay down your student loans (namely: slowly, painfully,...
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Credit
Permanent Record
Credit is, simply put, your financial reputation. Your credit history describes your record as a borrower, including...
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Paying Down Debt
Get Low
Paying down debt can make you more financially secure and give you more flexibility when deciding what...
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SBA Loans
Helping Hand
SBA-guaranteed loans (or just “SBA loans”) are business loans backed by the U.S. Small Business Administration (SBA)....
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Hard vs. Soft Credit Inquiries
Extra Credit
Banks, lenders, and others use your credit report and scores to determine your creditworthiness. In other words,...
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Budget
Nickels and Dimes
A budget is a plan you can use to better manage your spending and saving. When you...
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Debt
It All Adds Up
Debt is money that you owe to another person or a financial institution. When you borrow money,...
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Credit Cards
Swipe Right
A credit card lets you buy now and pay later, all without the hassle of counting out...
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Banks
Bank on It
Banks are institutions that take deposits, cash checks, and make loans. They are essentially home bases for...
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Savings
One Penny at a Time
Savings are funds that you put aside and don’t spend. Life can be full of surprises, both...
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Interest
Pay Up
Interest is the cost of borrowing money. For a borrower, interest is the price of taking on...
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Layaway
Bill Me
Layaway lets you spread out payments over time when you buy something. Buyers often use it for...
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Collateral
Give and Take
Collateral is something that a borrower pledges to a lender to secure certain types of loans. If...
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APR
Another Day, Another Dollar
An annual percentage rate (APR) represents the annual cost of borrowing money, including fees. Because the APR...
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Bankruptcy
Lose Your Shirt
Bankruptcy is the legal process for consumers or businesses to get help with their debt. Bankruptcy starts...
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Rent vs. Buy
Where the Heart Is
The choice between renting or buying a home may be one of the biggest decisions you make...
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FICO
Score Some Points
Although you might hear the phrase “your credit score” tossed around, you actually have multiple credit scores—potentially...
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Prepaid Card
Top Off
A prepaid card lets you spend money that you’ve already added to the card. It’s similar to...
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Improving Credit
Extra Credit
Your credit report and credit scores describe whether you have a good track record of repaying borrowed...
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Interest Rate
At Any Rate
Interest is what a lender charges you to borrow money. It is usually expressed as a percentage...
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Amortization
Another Day, Another Dollar
Amortization is a way of paying off a debt by spreading payments over a period of time....
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Judgments
By the Book
A judgment is a decision made by a court that’s been entered into the public record (i.e.,...
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Refinancing
Cash in Your Chips
Refinancing is getting a new loan to replace an old one. Borrowers usually refinance in order to...
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Loans
Lend a Hand
A loan is when someone gives money to someone else in exchange for future repayment of that...
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Building Credit
Bit by Bit
Credit is money that’s available to you to borrow whether through a credit card, mortgage, car loan,...
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Buy vs. Lease a Car
Joy Ride
When you need a car, you have two options: buy or lease. If you buy a car,...
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Mortgages
Home Sweet Home
A mortgage is a type of loan that people use to help them buy a house or...
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Student Loans
Old College Try
A student loan can be any kind of borrowed money that’s used to pay for education. Although...
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Paying for College
Higher Education, Higher Costs
Going to college can lead to better jobs and bigger paychecks. But it comes at a high...
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