- People Aren't Saving Enough
- Racking Up Debt
- What You Will Learn in this Section
- Should I Borrow Money?
- Total Cost of Borrowing
- Think Before You Borrow–Key Considerations
- Where Should I Borrow?
Take some time to review this section. When you've done so, you will:
- have a clear understanding of your financial situation;
- have a good grasp of your spending patterns;
- be able to identify your strengths and weaknesses in dealing with money;
- have learned some helpful hints about saving money;
- know what your goals are;
- have learned how to reach those goals by making some simple changes;
- know the legal alternatives available to you;
- have learned about the different ways you can borrow money to pay off your debt;
- know when you should—and when you should not—refinance your mortgage;
- be able to make informed decisions about getting a home equity loan;
- know what your options are when you need a loan to buy a car;
- understand why, in most cases, loans from qualified retirement plans are not recommended; and
- have a strategy in place for borrowing money, for whatever reason, that makes sense for you.
Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. Franklin Mint Federal Credit Union and Mint Wealth Advisors are not registered as a broker-dealer or investment advisor. Registered representatives of LPL offer products and services using Mint Wealth Advisors, and may also be employees of Franklin Mint Federal Credit Union. These products and services are being offered through LPL or its affiliates, which are separate entities from, and not affiliates of, Franklin Mint Federal Credit Union or Mint Wealth Advisors. Securities and insurance offered through LPL or its affiliates are:
Not NCUA Insuredor Any Other Government Agency | No Credit Union Guarantee | Not Credit Union Deposits | May Lose Value |
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Financial Learning Center content created by TrueBridge, Inc. The information provided is based upon sources and data believed to be accurate and reliable. The content contained herein is intended for information and illustrative purposes only, should not in any way be construed as a personal recommendation, and should be used in conjunction with individual professional advice.