Featured Napkin
Hard vs. Soft Credit Inquiries
Extra Credit
Banks, lenders, and others use your credit report and scores to determine your creditworthiness. In other words, your credit history can help lenders and others decide whether or not to loan you money, rent you an apartment, or do business with you. Lenders view your credit history in one of...
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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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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 represent that portion of your income or earnings that is put aside and not spent. Life...
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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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