Amanda Stanhaus

Tag: mortgage

Amortization

Reducing my debt by paying installments over time. Ex. mortgage.

(Originally published on Amanda Stanhaus’s financial literacy vocab blog: XO, Bettie Vocab.)

Babe Engagement Watch

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The financier has proposed to Babe! Now, are they engaged? Not quite yet.

He is persistent. And he has an enormous diamond to show he means business…I mean to show he loves Babe.

I’ve had my fair share of heartbreak and have weakly wondered, what if he had some more skin in the game…i.e. $$…i.e. a diamond ring?

But, in my usual, upbeat state of mind, I’m anti-diamond. If a diamond is what is keeping us together, good riddance.

Want to show me you love me? Buy me something that will increase in value…how about a house?

Honestly, if I were to have a real diamond ring that was comparable to my costume jewelry, I would need to be accompanied by an armed guard at all times. Plus, the Hope diamond has bad juju!

Don’t fret, I have an idea for a fabulous ring…

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(Originally published on Amanda Stanhaus’s financial literacy blog: XO, Bettie.)

Drip Drip Drip

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Please, watch Don Draper fixing a sink before reading further. Isn’t Don dreamy!?!

I don’t need a man to do much. But, plumbing is not on my resume. And that’s why roommate-less me rents.

(click on the bold-faced vocab word:))

Why I’m pro-renting. When the faucet leaks, I don’t pay for a plumber to fix it. I also don’t pay property taxes.

Now, why I will be pro-owning eventually…

A home is a good reason to save my pennies. A home and it’s mortgage will build equity over time. Mo money, mo value.

And 30 years (or less) after my mortgage begins, I won’t pay every month to have a roof over my head.

Dreamy—American Dreamy!

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P.S. Thanks to the Council of Economic education, here is a very comprehensive overview of buying vs. renting.

(Originally published on Amanda Stanhaus’s financial literacy blog: XO, Bettie.)

Debt Deal

I love deals.

Sale shoes. Day old bread. Debt.

(click on the bold-faced vocab words:))

If I’m going to pay off my debt, why not pay it off as cheaply as possible?

When paying off debt, deals can be made with interest rates and the associated interest payments. Sorry, there’s no changing the principle. Unless, maybe if I morph into Hermione, hmm…

mortgage’s interest rate can be lowered when refinanced.

Credit Card or Student Debt can be paid off in full with a line of credit. Lines of credit are known to have negotiable interest rates.

If the interest rate associated with a line of credit is less than the one associated with my current debt, a deal is within reach!

Go grab it!

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(Originally published on Amanda Stanhaus’s financial literacy blog: XO, Bettie.)

Mortgage

I don’t have enough cash to pay for my house in full, so I took out one of these. It’s a form of amortization. AKA: reducing my debt by paying installments over time.

(Originally published on Amanda Stanhaus’s financial literacy vocab blog: XO, Bettie Vocab.)

Credit Score

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Yah, he did! Slow and steady student debt payments win the race to a sexy credit score.

(click on the bold-faced vocab words:))

Believe me, there was no thrill of the chase with creditors calling me constantly.

A credit score is a number that tells lenders how good I am at keeping promises —promises that I’ll pay them back.

Numbers can range from 300 to 850. Bigger is better.

Lots of things are taken into account in the calculation. Taking out a few loans ups my credit score, and so does paying debt payments by their due date.

A high credit score puts my best foot forward, whether applying for a new credit card or a mortgage.

I rewarded myself with a  promise (to pay my debts) ring.

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(Originally published on Amanda Stanhaus’s financial literacy blog: XO, Bettie.)