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Loans help finance some of our biggest goals in life.  

Checks hold an odd place in our personal finances. In many ways, checks seem like relics from a previous era. We maybe write one or two checks a month (usually for rent or similar bill-paying situations where electronic payment simply isn’t an option). This is vastly different from only a few decades ago, when checks represented more than 85% of all non-cash retail payments. (Can you imagine whipping out a checkbook in line at the grocery store? Times have certainly changed!)

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Loans help finance some of our biggest goals in life.  

They can provide access to possibilities that we can’t afford upfront —possibilities like going to school, buying a home or starting a business (to name just a few).

A loan is also one of the biggest financial commitments we make in our lifetime. Rushing into a loan without fully understanding how it will affect your budget can create a very stressful situation that can quickly spiral out of control.

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Asking the right questions is an important part of every financial decision you make, and home ownership is no exception.   

If you’ve been thinking about buying a place, preliminary research will turn up a long checklist of questions for you to ask at every part of the process. 

There are questions for your financial institution, questions for your mortgage broker and questions for your real estate agent. But what about the questions you should be asking yourself?

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In case you haven’t heard, compound interest is the best. 

You may remember it as an equation you had to memorize for math class, but it’s so much more than that. It’s the concept that powers all sorts of savings and investment products and, over time, allows you to turn your money into, well, more money!

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When you start looking for financial advice (or any kind of advice, for that matter), experts will share their take on what’s “good” and what’s “bad.”   

In personal finance, there are some classifications that we can all agree on: Debt is bad. 

Emergency funds are good. Overdrawing your account is bad. Earning interest on your savings is good.