A Loan to a Family Member

A Loan to a Family Member

Q. My sister wants to borrow $5,000. I have the money, but I’m not sure if I should do it. What should I consider and if I say yes, how should I do it?  — Lender maybe A. It’s sweet of you to consider helping, and it’s great that you have the money on hand. But still,...
How Co-Signing a Loan Impacts Credit Score

How Co-Signing a Loan Impacts Credit Score

Q. My FICO score is 812. It was 828 in 2013, but I think it dropped when I co-signed a Sallie Mae student loan for my grandson. Payments for this loan are being made on a timely basis, always before the due date, never missed and never late. I have several credit...
Smart Tips for Your First Job

Smart Tips for Your First Job

Q. My daughter just got her first job, and I want to give her good advice to get started with saving. What should I suggest to her?  — Mom A. Congratulations to your daughter! We love that you want to help her move in the right direction with her money. Starting a...