Top Insights for Managing Savings of Over $100K
If you’ve recently come into a large sum of money and are thinking about depositing more than $100,000 into your savings account, there are a few things you should know. When you deposit over $100,000 into your savings account, your bank will likely need to report this to the IRS. This doesn’t mean you can’t…
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Master This Essential Strategy for Managing Your Monthly Credit Card Balance Efficiently
Sometimes, you need to rely on credit, but that doesn’t mean you have to pay high interest rates. Many people have credit card debt; in fact, by the third quarter of 2023, Americans had a total of $1.08 trillion in credit card balances, according to the Federal Reserve Bank of New York. If you carry…
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The Timeline for Check Clearance: What to Expect
Different banks have various policies on how quickly you can access your money after depositing a check, but federal rules set limits on how long they can hold it. So, how long does it take for a check to clear? Here’s what you need to know when depositing checks at your bank. **How Long Does…
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Understanding the Basics of a Certificate of Deposit (CD)
If you’re looking to earn more on your money than a typical savings account offers, certificates of deposit (CDs) might be a good option. However, they’re not suitable for everyone. Here’s what you need to know to decide if a CD is right for you. ### What Is a CD? A certificate of deposit is…
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Graham Stephan: Essential Insights on Zero Down Payment Mortgages
Graham Stephan, a financial expert with 5 million YouTube subscribers, discusses the potential effects of new government proposals aimed at making home-buying easier. His latest video focuses on zero down payment mortgages and related incentives. ### Understanding the Housing Proposal The government has proposed measures to tackle home affordability issues. These include significant tax credits…
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Strategies to Eliminate Monthly Maintenance Fees at TD Bank
TD Bank provides a variety of checking and savings accounts tailored for students, seniors, and everyone in between. While most of these accounts come with a monthly maintenance fee, you can avoid these fees by maintaining a minimum balance or meeting other specific criteria. ### TD Bank Maintenance Fees TD Bank charges monthly maintenance fees…
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Strategies for Retirees to Manage and Eliminate Student Loan Debt
Retiring without debt is a dream for many, but it’s not always possible. According to the Federal Reserve, Americans aged 60 and older carry about $126.6 billion in student loan debt, a significant increase from 20 years ago. Student loans can be a major financial burden, especially when you’re on a fixed income. If you…
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Maximize Your Benefits with U.S. Bank Rewards: A Comprehensive Guide
U.S. Bank is one of the biggest and most well-known financial institutions in the U.S., making it a popular choice for banking solutions. They offer a variety of rewards cards tailored to different interests. If you’re in the market for a new credit card, you might be curious about the rewards U.S. Bank offers. Here’s…
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Top 11 Savings Accounts: Ideal Options for Safeguarding Your Funds
Savings accounts are a great way to earn interest on your money, often with the added security of government insurance. There are various types of savings accounts, each with unique features and goals. ### 11 Different Types of Savings Accounts #### 1. Traditional Savings Accounts **Best for:** First-time savers or those needing accounts at specific…
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Ramit Sethi: ‘The Common Pitfalls People Encounter with Credit Cards’
Using a credit card can be tempting because of the convenience, potential rewards, and the ability to pay for large purchases over time. However, if you’re not careful and strategic about how you use it, a credit card can quickly become a financial burden that drains your income. Ramit Sethi, a financial expert and author…
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