Finance

Cosigning means taking on someone else's debt if they cannot pay. What a cosigner signs up for, how it differs from being a co-borrower, release options and questions to ask first.

A line of credit is borrowing on tap up to a limit, with interest only on what you draw. The credit limit, draw and repayment periods, personal vs home equity lines and how it compares with a loan.

Credit cards and lines of credit revolve; mortgages and car loans are paid in installments. A side-by-side table, how each type affects a credit file and what credit mix really means.

Collateral is the dividing line between secured and unsecured debt. It shapes rates, approval and what happens if payments stop. Examples, differences and questions to ask first.

Card interest is worked out day by day from the APR and your average daily balance. A step-by-step example, how the grace period works and the habits that keep charges down.

A balance transfer moves card debt to a new card, usually with a low introductory rate and a one-off fee. How it works, how to check the numbers and where it tends to go wrong.

Balances divided by limits, times 100. The formula is simple, but per-card ratios and statement timing trip many people up. A worked example and the usual ways to keep it low.

A blank spreadsheet, a few columns and two or three formulas are all a household budget needs. Here is how to set one up step by step, in any spreadsheet program.

A soft check leaves your score alone, a hard check can nudge it down for a while. What sets each one off, who sees it and how to tell which one you are getting.

Two people can save the same amount every month and still reach their targets at different times. The difference often lies in where the money sits while it waits. A standard account…