Key takeaways Direct deposit allows your employer to send your paycheck directly to your bank account electronically. Many banks offer perks for direct deposit customers, including waived monthly fees, early paycheck access and higher interest rates on savings accounts. You can split your direct deposit between multiple accounts to automate…
Key Takeaways Step-up CDs feature predetermined rate increases that automatically boost your APY at scheduled intervals throughout the term. Unlike bump-up CDs that require you to request rate increases, step-up CDs provide guaranteed rate hikes without any action needed. Step-up CDs typically start with lower initial rates than traditional CDs,…
In 2024 American consumer Credit Counseling clients paid off around $191,257,429.83 in debt! Debt Management Plans help people regain control of their financial lives by consolidating their debts into a single, manageable monthly payment. Here’s what you can expect when you enroll in a Debt Management Plan (DMP) with American…
Key takeaways Private student loans are designed to cover educational expenses and are available through banks, credit unions and online lenders. Types of private student loans include degree-specific, parent, international student, bad credit, state-specific, income share agreements and refinancing options. Comparing multiple lenders, assessing interest rates and reviewing repayment terms…
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While there has been much conversation on not buying from companies with poor diversity, little has been said about investing…
Lifestyle inflation occurs when your expenses increase as you earn more income. It can start subtly—dining at pricier restaurants, upgrading…
Chime, the largest digital bank in America, grew its revenue to $1.7 billion in 2024, an increase of roughly 30%…
Technology has transformed some parts of the daunting homebuying process–making it easier to search and compare properties online, to prepare…
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Key takeaways Using rewards credit cards strategically during a recession can help you offset expenses via cash back rewards and possibly save you money through access to card-specific perks. Now is a good time to do an audit of your credit card portfolio to ensure you have…
Dept Managmnt
Summer Budget Trips and How to Avoid Travel Debt Quick getaways, like camping and road trips, can feel like affordable ways to enjoy…
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Apple, FedEx and Oracle all got loans guaranteed by the Small Business Administration. But rules and red tape keep many banks from making…
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Key takeaways Adding authorized users to your business credit card account can make it easier for you to complete purchases and earn rewards…
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Key takeaways Mutual funds can be a great way to invest for long-term goals such as retirement. There are thousands of mutual funds focused on different asset classes, such as stocks and bonds. Index funds are popular with investors for their low costs and diversification benefits. Millions of Americans use…
Key takeaways Since most small business lines of credit are reusable, they can cover cash flow gaps or small purchases as needed. Calculate the loan cost plus interest and fees with each withdrawal to make sure you understand the full cost of the loan. If you’re in good standing, you…
How much money will you need to retire? If you’re like the majority of Americans, you don’t know the answer. But experts use a quick rule of thumb to gauge how much you can spend. They suggest a safe withdrawal amount each year is about 4 percent of your savings,…
Key takeaways Home equity rates are determined by both macroeconomic factors, like the Federal Reserve’s monetary policy, and the borrower’s financial profile. Home equity loan and HELOCs rates are based on a benchmark interest rate (the “index”), plus an additional amount set by the lender (the “margin”). Lenders evaluate a…
Fat Chance Productions/Getty Images Key takeaways In a mortgage contract, an alienation clause requires the borrower to repay the full balance of their loan immediately when they sell or transfer the property. Also known as due-on-sale clauses, alienation clauses are standard in most mortgage contracts. Due to the Garn-St. Germain…
Justin Sullivan/Getty Images Apple (AAPL) shares fell about 3 percent in early trading Friday after President Donald Trump threatened to impose tariffs of at least 25 percent on iPhones manufactured outside the U.S. The move comes after Apple CEO Tim Cook met with Trump at the White House earlier in…
According to the National Association of Realtors, the median price of an existing home sold in April was $414,000. Of course, home prices vary from state to state, city to city and even neighborhood to neighborhood — sometimes, similar homes on the same block sell for very different prices. So…
Images by GettyImages; Illustration by Bankrate Key takeaways Cash-out auto loan refinancing — ideally with a lower rate and without prolonging your repayment — could help you consolidate and pay off other debt or bills. This strategy could be useful if you’ve improved your credit since you last borrowed and…
How information is presented can have an outsize impact on your actions. Behavioral scientists at the University of Pennsylvania’s Wharton School recently tested a similar theory. They wondered if the right messaging — in the form of a “nudge,” or reminder — could help struggling student loan borrowers. “There have…
The Department of Education’s April 21 announcement to borrowers seemed to leave little room for misunderstanding. “Student and parent borrowers — not taxpayers — must repay their student loans,” the statement read, in part. “There will not be any mass loan forgiveness.” Putting aside the argument that taxpayers unfairly foot…
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