Having cash can be helpful to put down a larger down payment, pay everyday expenses, or satisfy debt. Learn more about investment options for your cash, what you can do with more cash, and what your cash means on this page.
A teacher is trying to sell her house, but she's worried about the slow market and her adjustable rate mortgage resetting to a monthly payment that she can't afford on her income. She wants to know how to pay down her mortgage, or what other options she has. To pay down your mortgage you can get another job or get a tenant to live with you. The only way to increase cash flow is to increase your income or lower expenses.
If your credit card debt is spread out over several credit cards, you should plan how to use your cash to get the most benefit for your credit score. Spreading the payments across all the cards will not eliminate the debt, but it will lower the balance-to-credit-limit ratio, improving your credit score. Or to pay off the cards the fastest, put all of the cash toward the highest interest rate. Then use the money you'll save to pay off the rest of the cards. Plan your strategy for what will give the most benefit to your personal finances.
A cash out refinance may help a homeowner remodel the home. The cheapest thing to do would be to pay cash. But the next cheapest thing would be to do a cash-out refinance and get a new mortgage at today's reasonable interest rates.
Tim called the show this morning asking if he should put sod down in his front yard to make it shine for the Internet. Then, he offered this gem for b...