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May 24th, 2020

Stories Tagged With: financial education

Understanding home equity loans

A home equity loan, sometimes called a second mortgage, allows you to borrow money at a very competitive rate using your home as collateral. Your available equity is based on the appraised value of your home less the amount you currently owe on your first mortgage. There’s an added benefit... Continue Reading >

Improving your credit score

If you’ve ever gotten a credit card or applied for a loan, your credit score has come into play.   Credit scores play a major role in determining whether or not someone will be approved for revolving credit, personal loans, mortgages, or any other type of credit.  Credit scores can also... Continue Reading >

Reducing debt takes willpower.

Google the phrase “getting out of debt” and you’ll get more than 257 million hits.  That isn’t the least bit surprising given the fact that almost every one of us has had to find ways to change our spending habits over the last several years.   You’ll find tips for reducing... Continue Reading >

Reestablishing credit after a divorce

Divorce is a stressful situation emotionally, and often financially.  Being smart about establishing, or re-establishing credit can make a tremendous difference, particularly for anyone who has had only joint credit accounts with a spouse.  Finding out your credit score is the starting point to knowing where you stand and what... Continue Reading >

A teen’s first checking account.

Is your teenager getting a first job this summer?  Or maybe he or she just received graduation gifts of money or has an allowance.  One of the best ways to help teens learn to manage their money is by opening a checking account for them.  We all know from our... Continue Reading >

Tips for raising a saver.

This great article from Forbes provides some excellent tips for getting your children off on the right foot with savings – and then keeping them on track all the way through their teens.   Starting as early as age 3 with pennies in a jar and advancing through understanding “not having... Continue Reading >

Teaching your child the basics

More often than not, we assume that children know that you must earn money to have money to spend.  We also assume they know what “earn” means.  Start early with the basics.  Explain why you go to work everyday and that this is how you make the money needed to... Continue Reading >

Financial literacy shared responsibility

This article from Reuters does a great job of reinforcing the value of financial literacy for our children.  At Cornerstone, we’ve been involved with Jump $tart – a coalition of financial institutions and advocates for financial literacy – in supporting the requirement that makes Tennessee one of the 12 states... Continue Reading >

Credit Card Fine Print

Credit card debt hit a peak in early 2009 as the recession was getting into full swing and then took a pretty dramatic dip. While part of that dip can reasonably have been attributed to a change in attitude about carrying significant credit card debt, a large part of the... Continue Reading >

Teach your children well.

Here are a few concepts that can teach your children to have a healthy respect for money: 1)  Saving for a rainy day is important.  When we spend everything we get as soon as we get it, we aren’t prepared to handle the surprises – or even opportunities – that... Continue Reading >