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| New Way of Lending? Posted by money mom at 06/11/08 12:52 PM College students may have another way of raising funds to pay for their room, board, books and other necessities for the upcoming school year. Social networking has now extended itself into the lending business.
To the Grad: Words of Wisdom from Consumer Advocates Posted by money mom at 06/02/08 01:16 PM Congrats graduates! Money mom would like to share a recent article that ran in the San Francisco Chronicle
which provides some money management wisdom from consumer advocates around the country.
Buying a car? That super-low monthly payment offer may cause trouble down the road. Posted by money mom at 04/18/08 04:00 PM Don't get caught upside down...Should your car take six years or longer to pay off?
Car dealers now offer six and even seven year car loans. This reduces the monthly payment, but increases the total cost of the loan. The low payment makes the car look cheaper than it really is – and it increases the time for which you will owe far more than the car is worth. That means when you are ready to trade in the car, you have to come up with extra cash or roll the amount you still owe into the loan on your next car, making the problem worse. Experts call this being “upside down” on the loan. To read more, click here.
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