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10 Ways to Improve Your Borrowing Power
https://www.sofi.com/learn/content/improving-borrowing-power/
Your borrowing power refers to how much credit you can get based on your financial history, including your credit history and score. Having strong borrowing power is essential if you ever want to get a mortgage, car loan, personal loan, or any other type of financing. It can also help you qualify for loans and […]
The Importance of Offering 529 Plan Contributions in an Employee Benefits Package
https://www.sofi.com/learn/content/importance-of-529-plans/
It’s no secret that education-related debt is negatively impacting the lives of many American workers. Student loan burdens have significantly increased in the last decade: At the end of the third quarter of 2013, Americans’ total student debt came in at just over $1.1 trillion, according to Federal Reserve data . At the end of […]
How to Save for College
https://www.sofi.com/learn/content/how-to-save-for-college/
College is expensive, with the yearly cost of attendance at some private schools now topping $75,000. Looking at these numbers, you may wonder how you will ever possibly afford to send your kids to college. But before you get too disheartened, it’s important to understand that a college’s published “sticker price” is often very different […]
Understanding the Basics of an Employee Savings Plan
https://www.sofi.com/learn/content/employee-savings-plan-basics/
An employee savings plan (ESP) is a valuable financial tool designed to help workers set aside money for future goals, such as retirement or health care expenses. Offered as a workplace benefit, these plans provide structured and often tax-advantaged ways to save regularly through automatic payroll deductions. Some employers may also add to their employees’ […]
How to Budget on a Fluctuating Income
https://www.sofi.com/learn/content/how-to-budget-on-a-fluctuating-income/
Budgeting can be challenging even with a stable income, but it becomes much more complex when your income fluctuates. Many freelancers, gig workers, seasonal employees, and commission-based professionals are familiar with the uncertainty of irregular compensation. With the right strategies, however, you can come up with a budget that allows you to manage your expenses, […]