Author: Savingtipsdaily
Grant Cardone Foresees 100-Year Mortgages — Is the US Shifting Towards a Rental Society?
Most homeowners typically pay off their mortgage within 15 to 20 years. However, real estate mogul Grant Cardone predicts that mortgage terms could become significantly longer in the future. He believes that the key to America’s financial stability won’t be lower prices but extended mortgage durations. Cardone suggests that in the future, we might see…
Explore More
Maximizing Your Savings with a 12% Interest Rate: Where to Look
When you open an account, you want to ensure that the bank or credit union offers the best savings rates or annual percentage yields (APYs). The interest you earn can vary based on location, term, or promotional aspects. Higher rates are always preferable, but where can you find the best options? ### Is 12% Interest…
Explore More
Top 3 Factors Dissuading Consumers from Purchasing Electric Vehicles Even with Reduced Prices and Tax Incentives
The journey to owning an electric vehicle (EV) has become a bit smoother thanks to price reductions and tax credits. Even though tax credits have become stricter since January 1st—requiring EVs to meet more stringent criteria to qualify for the full $7,500 clean vehicle tax credit—they still provide significant assistance for many Americans looking to…
Explore More
Navigating Biden’s Latest Student Loan Forgiveness: Four Essential Steps to Ensure Eligibility
A few days ago, the Biden administration announced that starting next month, the Education Department will expedite student loan forgiveness for those who qualify under the Saving on a Valuable Education (SAVE) plan, an income-driven repayment (IDR) plan. Originally set to begin in summer 2024, the forgiveness will now start sooner for many borrowers. The…
Explore More
Maximize Your Earnings: The Potential of a $10K CD Over 10 Years with Today’s High Interest Rates
Investing money can be done in many ways, from low to high risk. If you prefer a low-risk, stable method to grow your interest, a certificate of deposit (CD) might be a good option for you. With a CD, you can essentially set it and forget it until it matures. So, if you invest $10,000…
Explore More
Key Considerations When Transitioning from a Traditional Bank to an Online Bank
Traditional banks offer many benefits, but they aren’t always the most accessible or convenient option. Sometimes, they also come with higher fees or lower annual percentage yields (APYs) compared to digital banks. However, not all online banks are the same. Before switching from a traditional bank to an online one, it’s crucial to ensure the…
Explore More
Top 7 Locations Where Using Your Credit Card Could Be Risky
Credit card fraud is a persistent and widespread issue, and debit cards are also at risk of being stolen. In 2020, the Federal Trade Commission recorded 66,090 cases of credit card fraud. It’s crucial to understand where the risks lie to better protect yourself from those who aim to steal your information. **ATMs** For years,…
Explore More
Affordable Personal Checks: Top Spots for Budget-Friendly Purchases
Even in a world full of credit cards, online bill pay, and payment apps, personal checks are still around. If you don’t shop for the best deal or have a checking or savings account that offers cheap personal checks, they can end up costing you a lot. Luckily, just like other payment methods, you have…
Explore More
Six Alternative Methods to Borrow Money at Lower Costs Compared to Credit Cards
Many Americans are increasingly relying on credit cards when they run out of cash, but financial advisors caution that this should be a last resort. The New York Federal Reserve reports that credit card debt reached a record $1.03 trillion in the three months ending in June. The average interest rate for those carrying a…
Explore More
Maximize Your Savings with This Mortgage Strategy to Save Hundreds of Thousands
Owning a home is a big part of the classic “American Dream,” but the mortgage that comes with it can feel like a heavy burden, lasting for decades. However, there’s a simple trick that can help you pay off your mortgage faster and save a lot of money: switching from monthly to biweekly payments. ###…
Explore More