How I Purchased a New Car with No Down Payment and a 0% APR Loan

Back in March of 2015, I accepted an offer to a new job about a thousand of miles away from home. I had no car of my own, so I decided to purchased a 2015 Toyota Camry LE for its reliability and brand. The total cost of the car was $22,079.12 and I did not have to put down a down payment and was also approved for a 0% APR loan for 48 months.

Now how exactly was I able to purchase a new car with no money down and still get approved for a 0% APR loan for 48 months?

Read more

Why You May Not Need An Emergency Fund

Most of the time, a personal finance blog would recommend you to create an Emergency Fund in case of unexpected emergencies, hence the phrase Emergency Fund.

For those who don’t know, an Emergency Fund is a fund where you “should” ideally keep a savings of six months to a year of expenses on hand. If there happens to be any unexpected bumps or accidents like a layoff or a medical problem, you can then utilize the Emergency Fund to pay for your expenses.

However, if you had read, checked out, or glanced at my Simple What to Do with Your Money Guide, you will see that I did not recommend an Emergency Fund at all. There’s actually a very good reason for this and also why in the title of this article, I said that you may not need an Emergency Fund.

Read more

The 5 Factors That Affect Your Credit Score

The credit score is a number derived from information about your credit history. Lenders, such as auto dealerships, credit card companies, mortgage bankers, and more use this number to determine how reliable you are and how risky the loan it will be to them.

It is important to have a good credit score as it will signify that you are financially responsible and that your life is on the right track. It can also drastically reduce the rate of interest for new loans or even allow you to be able to rent your perfect place, as some landlords may perform credit checks!

Read more