Certificates of Deposit (CDs) can be a useful part of your investment portfolio – but did you know that opening a CD at some banks and credit unions can drop your credit score? It’s possible, depending on how your bank or credit union assesses risk.
When you apply for credit, lenders check your credit report
Investing & Retiring
Nature comes alive in springtime and we all want to take advantage of the warmer weather. However, some of our finances may still be recovering from our holiday spending, making a spring break seem like a pipe dream. Here are five ways to take a vacation without breaking the bank.
1. Take a road trip.
MoneyTips By Andrea Woroch Every year, countless people throughout the country dream up personal finance-related New Year’s Resolutions. Most of the goals are centered around saving more money, whether it’s by earning more or spending less. Some folks have trips they want to take or projects they need to cross off their to-do list, while
By Andrea Woroch
As a new decade begins, many have their sights set on change. After what feels like a lifetime of working, though, it can be difficult to transition to a cold-turkey retirement. To stay busy and supplement income many people are “semi-retiring” instead.
Folks are leaving their traditional jobs, cutting costs and
Many people are reconsidering their budget to prevent holiday overspending over the next few months. If you are one of these people, good for you – but why stop there? This is a great time to look further ahead and tackle your 2020 budget.
Lay out your calendar, spreadsheet, or whatever method you use and
Christmas Shipping Can Still Be Free Are you a procrastinator who hasn’t started your holiday shopping yet? If not, are you still hunting for deals even after Black Friday, Small Business Saturday, Cyber Monday and Green Monday? In any case, you still want to take advantage of online bargains and free shipping offers.
You’re in
You’ve overspent during past holiday seasons, but you’re determined not to let it happen this year. What’s your plan to prevent painful post-holiday bills? A study from Elevate’s Center for the New Middle Class (CNMC) may be able to help.
The study focused on holiday spending behavior and how it varies depending on credit scores.
MoneyTips Do you like the idea of good deals but not the idea of standing outside the mall in a three-point stance waiting for the doors to open for pre-dawn Black Friday savings? Then Cyber Monday, which will be held on December 2nd, 2019 — the Monday following the Thanksgiving holiday — is for you.
What brightens up your holiday shopping season? You may prefer a quiet Christmas season at home, large family gatherings at the home of the relative who drew the short straw, or hand-to-hand combat on Black Friday at the mall. However, everyone agrees that saving money on Christmas shopping gives the holiday an extra layer of
Have you ever had a credit or debit card transaction declined for insufficient funds when you thought you had money in your account? You may have a credit or debit card “hold,” reserving funds that you haven’t spent.
Merchants and service providers set a credit or debit hold on a purchase when the total isn’t
Thanksgiving is a time to relax and enjoy a nice dinner with your loved ones. You don’t want to spend it stressing over the Thanksgiving budget; you want to spend it having an enjoyable day with friends and relatives, and relaxing on the couch with a tryptophan-induced nap.
Try these tips to save dollars on
Did you know that your credit history could affect your ability to get a job? Prospective employers are unlikely to turn you down solely for having bad credit, but items in your credit report can make the difference between you and another equally qualified candidate. “Your credit score matters, even if you’re not in the
Are you planning on delaying your retirement? Workers are trending in that direction. Labor force participation numbers have been increasing over the past two decades, as have average retirement ages.
U.S. Census Bureau information shows that after a short dip to an average retirement age of 62 for men in the 1980s, the average retirement
Who doesn’t want more money in their monthly check? Most people do – before and after retirement. Fortunately, there are a few ways in which you may see an increase in your check even after you’ve begun to draw retirement benefits.
Continuing to Work – Your Social Security benefits are calculated from the 35 highest
Can your checking account affect your credit score? It’s possible, but only in certain circumstances that you should avoid.
Your credit score is calculated using information from your credit report, which is a history of all of your credit-based transactions. Checking accounts are funded by your deposits – there’s no borrowing of money involved. Normal
You prefer the simplicity and the spending limit security of a debit card, but you also like the cash-back rewards associated with credit cards. Zero, a San Francisco financial startup, may have the perfect card for you.
The Zerocard is a unique blend of debit and credit card. Zero’s full package is composed of a
Imagine an online offer for a restaurant chain that is so tempting it sells out in one second. That actually happened with the return of the Olive Garden’s Never Ending Pasta Pass.
The original Never Ending Pasta Pass in 2014 was so popular that it crashed Olive Garden’s website, and the passes sold out within
Graduation for the Class of 2019 is here. Some college graduates have studied physics and will pursue rocket science as a career. Others plan to become doctors, memorizing every bone in the body, while a few are walking encyclopedias when it comes to history. But how many of them can – and do – balance
You don’t want your boss to fire you, but being FIRE is good… when FIRE is the acronym for “financially independent, retire early”.
A FIRE retirement requires careful planning. You’re going to need more money than most to sustain your early retirement plans – perhaps covering up to forty years of retirement. Where can you
Current Federal Reserve Chairperson Jerome Powell recently indicated that the Fed may soon cut interest rates for the first time since the start of the financial crisis in 2009. What would such a change in the federal funds rate mean for you?
In today’s world of 24/7 cable TV and Internet news, people are more
Does your family celebrate Amazon Prime Day? Over half of Amazon customers are estimated to be members of Amazon Prime, a staggering figure. Prime Day 2018 was the biggest shopping day of the year, exceeding even Black Friday and Cyber Monday, with 89 million visitors logging on and over 100 million products sold. Prime Day
By Laurence Jankelow, cofounder at Avail
Whether you’ve owned your two-flat duplex for years or you’re trying to decide whether real estate is the right addition to your portfolio, it’s important to think of rental property as an investment. Like any investment, your goal should be to maximize returns.
You don’t need to predict which
Hey, We Agree On Something It’s difficult to get a bill passed on a bipartisan basis in the current Congress, but the latest retirement bill is one of those rarities. The Setting Every Community Up for Retirement Enhancement (SECURE) Act is designed to give Americans greater access to retirement funds while making it easier to
“Attention, employers. This is Denise. She’s just entering the working world, but she’s already concerned about retirement. She knows that traditional defined benefit pensions covered 84.4% of workers in 1979 but only covered 27.7% as of 2015 – and the share probably hasn’t been increasing.
She expects you to offer a 401(k) or similar defined
You want to buy a home, but you haven’t been saving for one. You want to retire near the typical retirement age, but you haven’t been saving for that, either. Don’t worry, the homeowner and retirement fairies will be pulling up to your door soon to deliver a truckload of cash.
Absurd, isn’t it? Nobody
Mistakes are part of the human condition; it’s impossible to avoid them 100% of the time. But financial mistakes are in a class all their own — they tend to have a snowball effect and get worse over time. A seemingly small money mistake in your twenties can have outsized consequences in your thirties, forties,
MoneyTips Not as Much as It Seems How is your 401(k) doing? Fidelity Investment’s Q1 2019 retirement analysis shows that many retirement funds are following a positive trend. Ten years after the Dow Jones hit its lowest mark in the financial crisis, retirement balances have more than doubled in 401(k), IRA, and 403(b) accounts. Average
You’ve set up a spending plan – but your plan didn’t consider the fun events that you see on your social media feeds. You can’t afford to go to all of them, yet you can’t afford not to thanks to the fear of missing out (FOMO). What do you do?
According to Charles Schwab’s 2019
Do as I say, not as I do. Do you ever fall into that trap? New research from Debt.com suggests that you might have that attitude when it comes to budgets.
Debt.com recently surveyed the budgeting habits and attitudes of Americans and found a wide discrepancy in following through on budgeting beliefs. A huge majority
Beware of Credit Score Inflation America’s credit scores have improved along with the improving economy. Compared to 2006, there are approximately fifteen million fewer Americans with credit scores below 660 and a corresponding increase of fifteen million Americans with scores greater than 740.
That’s good news, with a potential downside. Federal Reserve research suggests that
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