Blog

Posts Tagged ‘budgeting’

Understanding your debt-to-income ratio

debt-to-income ratio

Have you ever applied for a loan and been told that your debt-to-income ratio was too high? You may have wondered what that meant. Your debt-to-income ratio is the portion of your income that goes to debt payment, and it is a key component of creditworthiness. Lenders consider debt-to-income ratio along with credit score when…

Read More

10 money moves to make before you have a baby

Adorable Baby Feet

Ready to pick baby names while wondering which color baby booties you’ll need? (Neutral, everyone says go with neutral.) Exciting and life-changing times are ahead! You’re going to have fun decorating the nursery and sharing the good news with everyone. But the next nine months are also important for getting your finances in order. Studies…

Read More

Back-to-school: plan your budget

school supplies

Back to school means expenses!  Clothes, shoes, and school supplies can drain a budget quickly. According to The National Retail Federation, the average family with school-aged children spends $674 on back-to-school items–clothes, shoes, supplies, and electronics–each year. It’s no wonder setting a budget is essential for all parents with school-bound youngsters. To avoid falling into…

Read More

Strategies to Make College More Affordable

hands holding pennies and sign reading college fund

With the price of higher education still on an upward trajectory, families are looking for ways to make college more affordable. According to “How America Pays for College,” a report by Sallie Mae, the average American family spent $23,757 on college costs in 2017, which is a 38 percent increase over 10 years ago. Here…

Read More

Loan approval tips

loan application

Nobody likes getting turned down for a loan. And although White Sands FCU makes every effort to approve all loan requests, it’s sometimes necessary to deny an application–to protect the applicant’s financial health, as well as the credit union’s. When the credit union denies a loan, it’s because the applicant has either (1) a poor…

Read More