Archive for the ‘Personal Finance’ Category

Dueling Mortgage Gurus and Uncertainty

Dueling Mortgage Gurus and Uncertainty

By The Banker | Blog Posts, Personal Finance, Texas

One of the things that makes finance endlessly fascinating (to me!) is that perfectly sound logic for one situation turns out to be perfect madness in another situation. In my best moments I appreciate the ironies and contradictions. In my worst moments I despair for people whipsawed by the seeming complexities of financial choices. Most [&hellip

FICO Part II - When To Ignore It, And Why Its Awesome

FICO Part II – When To Ignore It, And Why Its Awesome

By The Banker | Blog Posts, Personal Finance, Texas

Last week I wrote about the personal credit score, used by virtually all lenders in this country, known as FICO. But I know there are some of you who you can and should ignore your FICO score. I also want to mention the risk of paying too much for your score, the benefits of boosting your score, and [&hellip

Ask An Ex-Banker: FICOs Score and Monthly Balances

Ask An Ex-Banker: FICOs Score and Monthly Balances

By The Banker | Blog Posts, Personal Finance, Texas

Note: See Part I on FICO Scores, which inspired this question from a reader. Dear Banker, I’ve been getting copies of my 3 credit reports annually since 2005. I’m concerned about a change in the reported information from Capital One and Chase. My reports used to reflect 1) amount billed 2) scheduled (minimum) payment 3) [&hellip

FICO Scores - Part I

FICO Scores – Part I

By The Banker | Blog Posts, Personal Finance, Texas

I’m 43 years old and I have a terrible confession to make: I still know my SAT scores by heart. Wait, it gets worse. I still know my PSAT scores by heart. I know, I know, I’m that guy. I’m not proud of this so let’s move on quickly to another semi-related topic: FICO scores. [&hellip

The Home Improvement Myth

The Home Improvement Myth

By The Banker | Blog Posts, Personal Finance, Texas

My wife and I plan to embark on a terrible financial journey most commonly known as ‘a kitchen renovation.’ Launching ourselves into this journey reminds me of the excellent book by Jonathan Clements, a longtime Wall Street Journal columnist and author of the 1999 best-seller 25 Myths You’ve Got To Avoid If You Want to [&hellip