by Wealth Buffer | May 27, 2022 | Loans
Personal loans can be used for almost any expense. They are not generally taxable income unless the loan is forgiven. The money borrowed to pay off a personal loan becomes income canceled of debt (COD). When you file your taxes for the year the loan was forgiven, you...
by Wealth Buffer | May 27, 2022 | Insurance
A copay or copayment is a fixed cost you pay to cover a covered service under your insurance. You may pay a $20 copay for a visit to the doctor or $10 for generic prescription drugs. Not all programs have copays. Costs for copays vary from plan to plan. The copays for...
by Wealth Buffer | May 26, 2022 | Loans
You can borrow money with a friend, relative, or partner by getting a joint loan (or shared loan). While auto loans and mortgages are often joint loans, you can also apply for a joint personal loan. Standard personal loans can be a good option for borrowers with low...
by Wealth Buffer | May 26, 2022 | Loans
A personal loan is a great option when borrowing money for unexpected or significant expenses. However, to get the most from a personal loan, it is essential to have a solid plan for paying it off. It would help if you considered all aspects of a personal loan...
by Wealth Buffer | May 25, 2022 | Banking
Traditional banks may not be suitable for everyone. Alternative banking providers might be able to offer financial services with better features and lower fees. Customers choose to move away from traditional brick-and-mortar banks and choose non-traditional financial...
