Author Archives: VIVA Finance

On behalf of the entire VIVA team, we would like to wish everyone happy and healthy holidays. However, we also know the holidays can be stressful—especially this year. Therefore, we hope to alleviate some financial stress by sharing a few responsible spending tips for the holiday season. Tip #1: Shop with a budget! We allContinue reading “Financial Wellness Tips for the Holidays”

You work hard for your income and you deserve to know where your money is going. However, as many as 50% of Americans say they do not maintain a budget. A budget is a plan for tracking and prioritizing your spending over a specific period (usually one month at a time). Without a budget, youContinue reading “Budgeting Made Simple”

Borrowing from your retirement account might seem like an easy way out of a financial pinch. After all, you are just borrowing from yourself, right? While this may be true, retirement borrowing can disrupt the advantages of your plan and in some cases jeopardize your future financial security. There is more to retirement borrowing thanContinue reading “The Pros and Costs of Retirement Borrowing”

If you need immediate access to an item such as a household appliance—but don’t have the cash or credit available to purchase the item outright—a rent-to-own plan might appear to be a friendly solution. Rent-to-own stores allow you to get the item you need right away without paying the full cost up front. Instead, youContinue reading “The Real Cost of Rent-to-Own”

If you’re in a financial emergency and you don’t have access to a conventional source of credit, a title loan might seem like a viable solution. With a title loan, you can use the title of your vehicle as collateral to acquire some quick cash. This can seem appealing for a few reasons: you canContinue reading “The Truth About Title Loans”

Access to credit is a cornerstone of financial well-being. Proper use of credit is essential to affording many of life’s necessities and unlocking some of its most important opportunities. This newsletter is devoted to understanding the value of credit so we can be more empowered in its use. Lastly, we will show how VIVA isContinue reading “The Power of Credit”

We are all enduring a crisis that has profoundly impacted the lives of millions across the globe. This unprecedented event has also affected nearly every aspect of the economy, including the American dream of home ownership. On the one hand, the current economic environment could provide a great opportunity for prospective homebuyers. Mortgage rates areContinue reading “How to Buy a Home in 2020”

How will the coronavirus stimulus bill affect you? Last month, the U.S. government passed the largest stimulus bill in history—the $2.2 trillion CARES Act (Coronavirus Aid, Relief, and Economic Security). One of the key features of the bill is that “economic impact payments” will be distributed to most adults. However, many people have been leftContinue reading “What the Coronavirus Stimulus Bill Means for You”

Credit score is one of the most important numbers in your financial life. When you apply for a traditional form of credit like a bank loan or credit card, your credit score largely determines the rates and terms you will be offered (and if your application will be accepted at all). Your credit score isContinue reading “How will the new credit scoring model affect you?”

Debt consolidation can be a powerful tool to regain control of your finances when credit cards or other debts become overwhelming and unmanageable. In these circumstances, it can make sense to take out a new, more affordable loan or line of credit in order to pay off expensive debts. However, there are some key considerationsContinue reading “Is Debt Consolidation Right for You?”