Most married couples never think about filing their taxes separately. They simply check off “married filing jointly” on their tax form and move on to the hard questions.

Generally speaking, a married couple should file their taxes together. Filing jointly combines a couple’s two incomes into one amount, which, after excluding nontaxable income, becomes the couple’s adjusted gross income (AGI). This larger number may push a couple’s income into the eligibility zone of certain deductions and credits.

Nevertheless, there are certain situations when you should consider opting for “married filing separately”.

Investing for the future can be daunting, and people have different priorities and financial strategies.

While some investors are attracted to taking more risks, especially when they’re young and have time to recover, many investors prefer an approach that yields peace of mind over wealth accumulation.

This approach, known as income-focused investing, emphasizes the virtue of stability and embraces a “slow and steady wins the race” ideology.

Emergencies aren’t fun and they are even worse if you don’t have an emergency fund saved. In today’s tough times, many people have either blown through their emergency fund or just weren’t able to save one. 

That doesn’t mean that emergencies won’t happen, though. So, what are you to do? 

You’ve heard credit card debt is bad and who wants to put themselves further into debt, right? While it’s not ideal, a credit card can bail you out in an emergency. 

Here’s what you need to know to keep it from putting you further into debt. 

Mortgage rates have been consistently on the rise as the Fed struggles to battle inflation. 

With a recession looming in the distance, you might ask yourself: “Is now the right time to buy a house?” 

It’s an understandable question considering how inflation has soared, house prices are high, and mortgage rates keep rising in response. No one wants to make a wrong financial decision. 

But it might not be a bad financial decision to buy a house right now. Let’s talk through mortgage rates, how they work, and whether or not today is the right time to buy a home, given the state of the market.

The USDA home loan credit score requirement is surprisingly reasonable, especially considering that it’s a 0% down mortgage.

Most lenders require a 620 minimum credit score, but if your score falls below that, you’re still in the game. The U.S. Department of Agriculture (USDA) doesn’t set a hard minimum, which means lenders can still approve you with a lower score.

Wondering how? We’ll break down the USDA credit score requirements and what you can do to increase your chances of qualifying for a mortgage.

Short on cash for your mortgage down payment? You’re not alone.

A Realtor.com study revealed that 45% of first-time homebuyers cited a lack of down payment funds as their biggest barrier to buying. It was the most-cited homebuying barrier by a wide margin. 

After all, even a small down payment on a modest home requires thousands of dollars — a tough hurdle, especially as today’s rising rent prices make it even harder to set aside money.

But you may not need to save a huge down payment all by yourself. Many loan programs offer low and no down payment options, and you may also qualify for down payment assistance*.

Deciding to own a home is not only a major lifestyle change but also likely one of your biggest investments.

When searching for a home, you’ll want to consider your comfort on many levels – including what you can reasonably afford.

We’ve provided a guide to the basic factors that impact how much home you can afford, including details about your personal finances and the costs of a mortgage.

If you’re considering purchasing a new home, you’ve likely been paying attention to mortgage rates. 

Unless a homebuyer can make a cash offer to buy a home, mortgage rates can make a big difference toward when they buy and what kind of home loan product they use.

The housing market has been quite volatile over the last couple of years. Mortgage rates had incredible lows at the beginning of the pandemic, but, as expected, rate increases came about this year.

When you sign a purchase contract, you’re signing a legally binding agreement. Most of the time you also put down earnest money. If you back out of the contract without any reason that’s legally backed, you lose your earnest money, which could be thousands of dollars.

Since buying a home is one of the largest purchases you’ll make, you want to enter the contract carefully. You sign a contract that doesn’t work in your favor, but you also don’t want to have so many contingencies that a seller won’t accept your bid.

One of the most popular contingencies you can add to a purchase contract is a financing contingency. Understanding what it is and how it works is important.

Whether you are deciding to have a child after years of planning or your new bundle of joy is an unexpected addition, having kids is expensive. From diapers and childcare to braces and college, parents sign themselves up for a continuous barrage of purchases, both large and small. Child-related expenses can add up on their own, but parents often have their own unrelated financial situations to consider. Budgeting and financial planning are critical for new or expecting parents, and these tips can help you start parenthood on firm financial footing.