It’s not always easy to put things into perspective. Sometimes we get caught up in the hoopla and simply forget to take a step back and take a fresh look at the situation…and sometimes we need someone else to remind us of this.
Read MoreA financial plan can mean different things to different people. Someone may be seeking advice related to saving and investing, life insurance or college funding.
Read MoreThe CERTIFIED FINANCIAL PLANNER™ designation is a professional designation for financial planners issued by the Certified Financial Planner Board of Standards.
Read MoreWhen it comes to selecting a financial advisor, being picky is not pretentious. Alongside choosing a career path, it’s one of the most influential financial decisions you’ll possibly ever make.
Read MoreConsider your credit score a letter grade based solely on one report – your credit report. There are three national credit bureaus – Equifax, Experian and TransUnion.
Read MoreOne of the most common cyber threats to the financial sector is a targeted phishing e-mail. These emails contain an infected attached file or a link to an infected website.
Read MorePerhaps you have a friend or know someone who has asked you to co-sign for a loan. Or maybe you’ve heard from your friend or acquaintance stories about a co-signing situation going terribly wrong. I’m not saying co-signing a loan for someone always goes badly, it just has the potential. Before you co-sign on a loan, understand what you’re doing and the risks involved of doing so. Co-signing on a loan means you are legally obligated for the loan and its payments. If the initial borrower defaults or decides not to make payments for any reason, you as the co-signer are then obligated to pay.
If a friend or family member is coming to you in need of a co-signer, this should be a red flag because it means they were not able to get approved for the loan on their own. Often lenders require a co-signer on a loan when the prospective borrower has insufficient income to afford the loan payments, does not have a sufficient credit history, or has a history of late or missing payments.
If you decide to move forward and co-sign on the loan, understand the loan will now show up on your credit report and will affect your credit score. If the initial borrower is late or misses a payment, this will negatively affect your credit score too because the loan shows in your credit history as your own.
Before co-signing on a loan for anyone, make sure you are in the appropriate financial situation to take on the debt payments if the original borrower can’t make the payments.
- Content Written by Elizabeth Braden, Worley Erhart-Graves Financial Advisors
Online security is on everyone’s mind right now, and rightfully so. Although breaches at national companies have shown us no one is immune to hackers, we want to share these three tips in order to protect your identity.
Read MoreOn May 8, 2015 the U.S. Securities and Exchange Commission’s Office of Investor Education and Advocacy (OIEA) issued an investor alert for automated investment tools (such as robo-advisors and financial calculators).
Read MoreNo doubt recent market drops, including Monday’s fall, have investors on edge.
Read MoreCan women bring a different perspective to the table?
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