Money Matters: Four C’s of Home Loans

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Hey! Today, let’s talk about the 4 C’s of home loans, the factors that lenders consider before making a home loan.

The 4 C’s of loan and credit are: capacity, capital, credit and collateral.

Capacity is your present and future payment obligations, as well as your debt to income ratio. Capital is the value of your assets, including cash, savings, investments, property, and other things that you could sell for cash. Credit is how responsibly you have paid bills or debts in ...

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Money Matters: Small Changes

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Hey! Did you know that a cup of coffee and a bag lunch can change your life?

Throughout the day, we think about the things we want: a Frappuccino from Starbucks. A new car. A trip to Hawaii.

Fact is, giving up the small things can help you get the big ones. For example, packing a lunch instead of eating out every day could save $50-$60 per week, or $200 a month, or $1200 to $1500 per year! Make your own coffee ...

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Money Matters: Why Get Insurance

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Hey! Do you ever wonder why you need insurance?

You might think it’s to protect your stuff, but actually it’s to protect your family.

Insurance is a contract made between you and the insurance company that protects you, as well as your family, from unexpected emergencies or losses.

Some forms of insurance are required by law, while others are optional.

Insurance may seem like an extra expense at first, as you have to pay a monthly premium for the policy, but long term it ...

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Money Matters: Budget Bubbles

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Hey! Did you know that budgeting doesn’t have to be painful?

Fact is, it could actually be fun!

Southern Bank offers the Budget Bubble tool in online banking. It shows where your money is going and allows you to set up your own categories. Next you assign a goal for each category. Then the tool automatically shows you when you are on target (green), close to your target (yellow), or on your target budget (red).

The Budget Bubble tool is handy since you ...

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