Stephanie Colestock

The decision to buy a boat can be one of the most exciting financial moves you make, whether you’re buying a weekend fishing vessel or purchasing your dream yacht. Unless you have the cash on-hand to buy your new boat outright, though, you’ll need to finance it with the help of a boat loan.
Buying a Boat: What it Means to Finance Your Purchase
Similar to a home mortgage loan or auto loan, a boat loan is an installment loan that is used to fund the purchase of a new or used marine vessel. With...

Refinancing your mortgage loan is the process of using a new home loan to replace an existing home loan. Bill Oxford / Getty Images
Home mortgage loans represent one of the most common types of debt for Americans - with more than $1.6 trillion in new mortgage loans originating in 2021 alone. Fannie Mae expects that number will continue to climb this year. Across the country, Americans now hold around $17.6 trillion in total mortgage debt and, according to Experian, an average home loan balanc...

Saving enough to provide 70% and 80% of your pre-retirement income annually is a general rule of thumb. Marko Geber/Getty
Table of Contents
Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.
How much do I need to save for retirement?
1. Calculate what your savings will cover when you're retired
2. Break down how much you should be saving each year
3. Consider other sources of income while retired
4. Know the general rules of thumb ...

Though discussion of student loan forgiveness continues to circulate in Washington, DC, it's a politically divisive issue -- and far from a sure thing. And, although emergency federal student loans forbearance offered a period of relief for many, this pandemic-related relief measure is set to expire on January 31, 2022, which means loans will come due again in early 2022.
The majority of college graduates today are no strangers to student loan debt; there are more than 43 million student borr...

Any time you apply for a credit-based account, whether it’s a credit card or a mortgage refinance loan, your credit score will be an important factor. Lenders use credit scores to help determine how likely...

The number of 401(k) and IRA millionaires reached an all-time high in the first quarter of 2021, according to Fidelity Investments. Retirement account balances have been steadily recovering in the year since COVID first emerged, even surpassing pre-pandemic levels. Today, more than 365,000 Fidelity investors boast seven-figure 401(k) balances, along with more than 307,600 IRA millionaires. A well-funded retirement account can afford you the financial security you need after your career ends. ...

Applying for a new home loan can be an intimidating process, especially if you have a less-than-ideal credit score. If you’re trying to buy a home without a credit score at all, though, you may find the process to be even more challenging.
While there are certain loan programs and lenders with minimum credit score requirements, there are ways for how to get out a mortgage with no credit score. Here’s a look at what to expect from the process and the options you’ll have.
How to get a mortgage ...

Slide 1 of 15: When I was growing up, my grandmother kept her cash in a coffee can above the fridge. I never knew how much money was in that old blue Maxwell House tin, but I was always worried that one day it would somehow disappear and her hard-earned savings would be lost.It wasn’t until I got older that I realized why my grandmother kept her money in that can. Eight years before she was born, her parents lost all their savings when their bank failed in the wake of the Great Depression.Whe...

Family life insurance provides not only protection for one parent, but the entire family. This can be done through a branded family policy or by adding spousal and child riders to an existing policy, some of which can be converted into their own stand-alone policies down the line. Family coverage can be temporary (term), permanent, or even a blend of the two, depending on the needs of you and your loved ones.
To help you choose the right life insurance policy for your family, we have compared...

Editorial Note: Credit Karma receives compensation from third-party advertisers, but that doesn’t affect our editors’ opinions. Our marketing partners don’t review, approve or endorse our editorial content. It’s accurate to the best of our knowledge when posted.
It’s an ironic reality of banking: You may have to pay in order to use your own money, even if you open a “free” account.
Both online and brick-and-mortar banks may charge monthly maintenance fees (among other types of fees), which ca...

An IRA, or individual retirement account, may already play an important role in your overall retirement plan. What you may not realize about this kind of tax-advantaged plan, however, is that you can use it to purchase real estate and further grow your savings. Let’s talk about what that process entails, why a real estate IRA is worth considering and some important pitfalls to keep in mind. Consider working with a financial advisor if you’d like to explore investing in real estate.
The Value ...

Even if you don’t believe that we are on the cusp of another economic downturn, it’s always smart to be prepared. In fact, the way that you structure your earnings, savings and investments today can not only make it easier to survive a recession, but can even allow you to thrive regardless of what’s going on around you.

Getty Images
There are many expenses involved with buying a home, especially if you're utilizing a home mortgage loan for the purchase. If you plan to take out a conventional mortgage loan, one possible cost you could encounter is private mortgage insurance (PMI).
Here's a look at what private mortgage insurance is, who's responsible for buying it, and the kind of coverage it offers.
Check your mortgage eligibility at LendingTree
What is Private Mortgage Insurance, and when is it required?
...

If you still have a mortgage loan on your home upon your death, your heirs will inherit both your house and its mortgage. Understanding what happens to a mortgage when you die is an integral part of asset planning, especially if you want to make sure that your family can stay in your home after your death. Read on to learn more about the process of transferring a mortgage after death.
Inheriting a house with a mortgage
Inheriting a house with a mortgage can be much more complicated than simpl...

Whether you experience a sudden financial windfall or just find yourself with leftover cash in your budget each month, you might be wondering what to do with those extra funds. One option is to contribute more money toward the loan on your home, but should you pay off a mortgage early, or are there better places to focus your efforts? Here are some key factors to keep in mind. Consider working with a financial advisor as you weigh your options.
Benefits to Paying Off a Mortgage Early
There ar...