Credit Card Fine Print: What is a Schumer Box?
What is a Schumer box? A Schumer box is a table that discloses pertinent information about a credit card, including interest rates, fees, terms and conditions. It is named for Charles Schumer, the lawmaker responsible for legislation that requires all credit card terms to be presented in a standardized, easy-to-read format. The legislation was enacted […]
Are You Missing Out on the Wealth-Building Powers of a Mortgage?
All the news stories are pointing to a continued decline in homeownership, even last year during the supposed “recovery” from the recent Great Recession, when interest rates averaged 3.52 percent last May. In addition, homeownership levels have fallen to 64.8 percent in the first quarter of this year, its lowest level in 19 years, according […]
The True Cost of Minimum Monthly Payments
The allure of credit cards is that they allow us to buy things we can’t afford right now and pay for them later. We can charge what we want and pay off the balance at our leisure. But unless you take advantage of a temporary offer, you’ll pay a price for the privilege of using […]
6 Mortgage Terms Every New Home Buyer Should Know
Mortgages bring a whole new set of often unfamiliar jargon that can be confusing for first-time homebuyers. Still, your mortgage is likely among your biggest expenses, so it’s a good idea to learn these concepts and understand what you’re signing. Here’s a look at six key mortgage terms that every borrower should learn. 1. Underwriting […]
Struggling with Student Loan Debt? These Student Loan Repayment Options May Help
They say the two sure things in life are death and taxes. Until recently, never-ending student loans could have been considered a third item on that list. Unlike most other debts, you can’t file bankruptcy on student loan debt unless you’re able to prove ‘undue hardship’, which is nearly impossible unless your circumstances are utterly […]
Growing Your Financial Portfolio: Are You Gluten-Free Investing?
Gluten is a protein found in grains. It is responsible for the elastic texture of bread, allows the bread to rise and gives it shape. Many of us look for ways to make our daily habits healthier. Those with sensitivity to or intolerance of gluten simply remove it from their diet. You can’t take the […]
4 Quick Tips for Maximizing Your Retirement Savings
You’ve been doing exactly what you needed to do in order to save for your golden years — setting money aside in a retirement account (whether it be a 401(k), 403(b), or IRA). Or so you thought. One look at your balance, and you realize that the lump sum isn’t nearly large enough. So how […]
Top Credit Card Dangers (and How To Protect Yourself From Them)
Credit card debt in America is no secret. Half of American households carry a balance from month to month. That’s tens of millions of people who for whatever reason don’t follow the basic, practical advice to only charge what they can afford to pay off at the end of the month. Some folks say credit […]
5 Mistakes Online Shoppers Make
Shopping online at home in your PJs is quick and easy, but that convenience makes it all too easy to waste money on things you won’t really need or spend more than you would in a store. Here’s a look at online shopping mistakes that could be costing you money. 1. Getting sucked in by […]
Is a High-Yield Checking Account Right for You?
For most people, having a checking account is a must when it comes to day-to-day financial transactions. And considering that most of us have money sitting in one all the time, wouldn’t it be great if you could earn interest on the money in your checking account? Well, you can — with a high-yield checking […]
5 Great Tax Breaks for Homeowners
The deadline for filing your taxes is right around the corner and if you’re a homeowner, the IRS offers tax breaks that can save you a lot of money. Here are five tax breaks that every homeowner should consider when doing their taxes this year.
Thinking About Refinancing Your Mortgage? Read This First
When interest rates took a nosedive a few years ago, it made sense to refinance your mortgage. And rightly so — cutting two percentage points off your interest rate could save you a lot of cash! But what about now? You keep hearing that mortgage rates are still quite low, but is refinancing your mortgage still […]
3 Reasons Online Banks are Better Than Brick-and-Mortar Banks (and One Reason They’re Not)
We live in a digital age. You’d be hard-pressed to find a bank today in the U.S. that doesn’t allow account holders to log on and conduct at least basic transactions online. Indeed, banks are nudging customers to conduct more business online and go as paperless as possible, cutting costs while streamlining account management. Millions […]
7 Common Tax Mistakes You Don’t Want to Make
By now, you should have received most of your pertinent tax documents for 2013. W2s, 1099s and other forms are supposed to be mailed by January 31st. If you haven’t yet received everything you were expecting, now is a good time to contact the entity to inquire as to the status of your forms. [cta […]
Why Don’t My Credit Cards Ever Show a Zero Balance on My Credit Reports?
You’ve done your homework and you know that paying off your credit cards in full each month is the smart move. But why, then, do your credit reports show a balance each month if you pay the balances in full?
