When it comes to managing your finances, there are options beyond traditional banks—credit unions. Credit unions are financial institutions that offer similar services but operate differently than banks.
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Buying a home is one of the most significant financial transactions you will make in your lifetime. While preparing to purchase a house is exciting, it’s understandable to feel a bit overwhelmed (especially as a first-time buyer).
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Equity in your home is a unique financial advantage that can offer an affordable way to fund a wide range of other life milestones, including home renovations, emergency expenses, debt consolidation, weddings, higher education, and more. Home equity loans—like a home equity loan (HELOAN) or home equity line of credit (HELOC)—leverage the value in your home to provide you with flexible funds for other needs.
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Credit cards have many benefits: They can be a great way to help you build your credit, they are convenient, and with some cards you are able to earn rewards or cash back. But credit cards can cause financial trouble if you are not mindful of spending and interest.
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Beginning to build good credit early is important, but it is even more important to build it responsibly. As early as 18, you may start to receive credit card offers. Understanding all the details before you decide to open one will help you manage it responsibly and benefit your overall financial health. Keep these six considerations in mind when deciding to apply for your first credit card.
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Sooner is always better when it comes to saving for retirement. Making contributions to a retirement savings account early in your career will allow your money to grow and compound over the years and provide excellent tax benefits, which will help in the long-term. An individual retirement account (IRA) is a common type of retirement savings account that you may want to consider, and the most popular types of IRAs are Traditional IRAs and Roth IRAs. These accounts have some similarities, but the primary difference is when and how you get a tax break. Here’s how to decide which might be right for you.
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