What is an installment loan and how does it work?

Calendar with every other Thursday circled on the calendar to show an example of a repayment schedule for an installment loan (préstamo a plazos).

If you’ve ever had to shop for a loan, you know that the vocabulary can be confusing. In this post, we will do our best to explain how an installment loan works. Let’s first consider a situation: It’s summer time, the temperatures are hitting triple digits, and the air conditioner in your car is broken.… Continue Reading

Manage your Budget with Free, Simple Apps

Close up image of hands holding a mobile phone with dollar signs indicating that the woman is using an app to manage her budget (gasto)

How well do you understand your monthly budget? Do you know how much money you spend on food each month? What about recurring expenses like car insurance? Do you know how long will it take you to save money for that new sofa or dishwasher? Thankfully, tracking expenses and managing your… Continue Reading

Credit Reports & Credit Scores: Learn the Difference

Young woman sits at her desk examining a credit report (Informes de crédito) to ensure the information is accurate. The bureau uses the info to calculate her credit score (puntajes de crédito) form that bureau.

Credit scores are generated using information inside your credit report. A credit report is a statement that shows personal information about you and how you use credit. It shows the number of credit accounts you have, account statuses (open, late, current, paid off… Continue Reading

Credit Reports: What are They and Why Do I Need One?

A credit report is a statement that shows financial information about you and how you have used credit. Credit reports are generated by credit reporting companies, also known as credit bureaus. Bureaus get personal information about you from financial companies like banks and creditors, and some utilities and landlords… Continue Reading

Some Do’s and Don’ts to Save Money

Follow these simple tips and creative ideas to save money If one of your goals is to improve your finances, you’ve come to the right place! Forget the usual food diet and go on a ‘money diet’ to save money and get your budget back on track. DO: Envelope budgeting: Set apart to save money… Continue Reading

The Perfect Gift for Father’s Day on a Budget

Father and son enjoying father's day together and listening to music

Love is in the Details, not the Dollars While you may want to show your dad your appreciation with a great gift, there are other things to consider – such as sticking to your budget and not adding to personal debt. This year, make it all about the little details. Follow these tips for a… Continue Reading