Does it make sense to keep your emergency fund in a HELOC?

For a change, a personal finance post, not a technical one. There’s this idea that you can use a Home Equity Line Of Credit (HELOC) as your emergency fund, and pocket (or invest) the difference between the interest rate on your mortgage and the interest rate of wherever your emergency fund was sitting. It takes […]

The Payroll Advance – and why it is a Bad Idea

This year, I became aware of a lending vehicle that is designed to hook the desperate to a never-ending cycle of debt: The Payroll Advance, also known as a Payday Loan. It is a line of short-term credit that is open to anyone – no background checks, no credit checks, nothing of the sort. For […]