Rachel Cruze: Evaluating the Pros and Cons of Store Credit Cards
If you’ve ever thought about whether store credit cards are a good idea, personal finance expert Rachel Cruze from Ramsey Solutions has some insights on why they might not be. You’ve likely been offered a store credit card many times. It seems like every store in the mall offers a discount at the register if…
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Calculating Your Income Requirements for Homeownership on the East Coast
The reality is that the average American household earns about $40,000 less than what’s needed to afford a typical home. Home prices vary across the U.S., but many popular East Coast cities are more expensive than the national average. ### Rising Home Prices and High Mortgage Rates The main reasons homes are becoming less affordable…
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Understanding Joint Bank Accounts: Their Functions and Benefits
If you’re planning to get married or have already done so, you might be considering opening a joint bank account. Joint bank accounts let you combine your finances into one account, sharing both the responsibilities and benefits of managing your money together. While joint accounts are similar to individual accounts, there are some key differences…
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Maximize Your Savings: Understanding the Benefits and Mechanics of High Yield Savings Accounts
High-yield savings accounts are an excellent option for storing your money, often replacing traditional savings accounts for savvy investors. These accounts offer the same FDIC insurance as traditional ones but with interest rates up to 10 times higher. Whether you’re building an emergency fund or saving for a short-term goal like a house down payment,…
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Reclaim Control: 7 Strategies for Catching Up on Overdue Car Payments
There are several ways to smooth things over and get back on track. Let’s explore these options together to find the one that suits you best. **Communicate with Your Lender** First, reach out to your lender. It might seem daunting, but lenders usually prefer working with you over repossessing your vehicle. Explain your situation and…
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Suze Orman: Essential Insights on Medical Credit Cards
Some healthcare providers offer medical credit cards to help patients manage the cost of their care. While these cards can provide temporary financial relief, they can also lead to significant debt. Personal finance expert Suze Orman recently discussed a Consumer Financial Protection Bureau (CFPB) report, explaining how these cards work and advising consumers to be…
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Essential Steps to Prepare for Your Car Loan Application
Buying a car is a big financial decision, and getting the right loan can significantly impact your overall costs. Before you apply for a car loan, it’s crucial to take some proactive steps to ensure the process goes smoothly and you get favorable terms. Here are ten things to consider before applying for a car…
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Dave Ramsey: Avoid Cashing Out Your 401(k) for Student Loan Payments — Try This Alternative
If you’re having trouble paying off your student loans, you might think about cashing out your 401(k). However, financial expert Dave Ramsey advises against this. Instead, he suggests aggressively tackling your student loan payments to eliminate the debt as quickly as possible. Student loan debt is a significant burden for many graduates and their families.…
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Demystifying Bank Routing Numbers: Their Purpose and Where to Locate Them
In today’s era of electronic banking, you often need your bank’s ABA routing number, account number, or check numbers for tasks like filling out direct deposit forms or setting up money transfers. These numbers help distinguish one bank from another. Large banks might have different routing numbers for each state where they have branches, and…
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How About Banking with an Unknown Institution?
The United States is home to over 4,000 banks. While you’re likely familiar with big names like Chase and Bank of America, there are many smaller, newer banks you might not know about. As you explore banking options, you might wonder if it’s safe to trust a bank you’ve never heard of. This is a…
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