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Questions tagged [loans]

This tag is a generic tag to be used when asking a question on Loans / lending. If there is a specific question the other related tags like home-loan, student-loans, etc should be used.

12
votes
5answers
4k views

For a major expensive home renovation (e.g. addition, finished basement, or new kitchen) should one pay cash or finance with a loan? Would such a loan be “good” debt?

This other question is similar, but was referring to a specific renovation/repair (new flooring) that, while expensive ($1500), isn't very expensive – it's feasible to consider saving up for ...
26
votes
7answers
7k views

Why do people use mortgages, when they could just pay for the house in full?

I would like your recommendation on whether you should buy a house with a mortgage, which you would pay as you go, or should you buy it in full.
8
votes
2answers
802 views

Paying off loans early, or is there some way to reduce extortionate interest charges?

I bought a car about 2 years ago on finance. The car was priced at £11k and I was very quick to jump at the chance rather than thinking. Over the 5 year period I'm paying over £18k in total, thats £...
9
votes
5answers
2k views

Home Renovations are expensive.. Should I only pay cash for them?

Should I save up enough cash to do home renovations, or can I take out a loan? Our house needs a new kitchen floor as the linoleum is actually ripped in some areas, and the wood is exposed... This is ...
14
votes
6answers
13k views

Saving $1,000+ per month…what should I do with it?

I am able to save $1,100 a month, after all expenses and after paying the minimums ($225 a month on my 2.24% and 3.25% student loans). I want to make smart decisions with my money, but am not sure ...
22
votes
5answers
7k views

Should you co-sign a personal loan for a friend/family member? Why/why not?

I know someone who was recently asked to co-sign a hefty loan by a family member. I don't know what I'd do if I was put in the same position as the one asked. What are the risks? What are things to ...
4
votes
2answers
66 views

I've heard that it's never a good idea to go with payment protection plans offered by credit card companies. Is this true?

I'd like to think my bank isn't trying to swindle me when they call and try to sell me one.
16
votes
4answers
10k views

Will our hefty student loans affect our chances of getting a mortgage?

My husband and I live simply but we're content. I'm an avid budgeter and love finding ways to be frugal. My dilemma right now is that we've been able to keep our living expenses below what we make, ...
30
votes
3answers
2k views

What are the pitfalls of loaning money to friends or family? Is there a right way to do it?

What are the pitfalls of loaning money to friends or family? Is there a right way to do it?