Debt & Credit - Savvy Family Finance

Debt and credit go hand-in-hand. Learn how to manage your credit wisely and eliminate debt. Here you’ll find information on topics ranging from the debt snowball, money habits that lead to debt, how to improve your credit score and why you want good credit.

7 Reasons to Refinance Your Mortgage

If you’ve been watching interest rates go down or you’ve improved your credit, refinancing your home mortgage could be a great financial move. Or not. With all the chatter about refinancing, how do you know if it’s a good idea for you? What is Refinancing? Refinancing your mortgage means …

Surprising Benefits of Having a Good Credit Score

Have you heard from some financial gurus that you don’t need to maintain a good credit score or even have one at all? Well, you don’t. But it will cost you. Even if you want to never have another credit card and won’t need to take out a loan anytime soon, the benefits of having a good credit …

Is the Debt Blizzard the Key to Eliminating Your Debt?

Have you ever wondered what is up with all the snow-related metaphors when it comes to debt? Why not a rain, fire, or even a homework metaphor? I’ve no answer for you there, but I do appreciate different approaches to paying down debt. Like many of you, when it comes to paying down debt, I’d …

8 Ways You Can Ruin Your Credit Score

Inside: Learn what not to do if you want a good credit score. These mistakes can ruin the good credit you’ve worked hard to attain. Just as it takes time and effort to build trust, it also takes time and effort to build credit. In both cases, a few mistakes can wipe all that hard work …

Types of Mortgage Loans: Which Is Best for You?

Inside: Learn about the most popular types of mortgage loans and decide which is the best for you. When we bought our first home, there were a few well-known mortgage loan options we were aware of such as a conventional loan and an ARM. By the time we bought our second home, pre-2008, there …

How to Use the Snowflake Method to Pay Down Debt

Inside: Discover how the debt snowflake method works and how it can help you pay down debt faster. Hate the feeling of being bogged down by debt? There are ways to pay down debt faster, whether it be a debt snowball or avalanche. But what if you want to do more, no matter how …

15-Year vs 30-Year Mortgage: Which Is Right for You?

Inside: Learn whether a 15 or 30-year mortgage is right for you. Have you sat down to look at mortgages and one of you says the 15-year loan makes the most sense and will cost less, but the other really likes the lower payments on the 30-year loan? Who is right? Let's find …

How to Actually Save Money While Paying Off Debt

Inside: Find out how you can save money while paying off debt, and why you want to do so. It is fun being an adult at first. You get to stay up late, go out with friends, indulge in those nifty subscription boxes and buy from the tv shopping channels. And then the bills start coming in. …

How to Fix Your Credit, Gimmick-Free

Inside: Learn how to rebuild or fix your credit score the right way. We can make some pretty stupid financial mistakes when we are young. Or maybe a series of unfortunate events led to your credit score going to pot. Whatever the case may be, it is possible to fix your credit. The …

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