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Which Types of Interest Are Tax Deductible?
Interest charges can take a big bite out of most any budget. But did you know that certain interest payments could actually help lower your income tax bill? When you itemize eligible interest expenses on your federal income tax return, you may be able to keep more cash in your bank account by reducing your IRS tax liability.
What’s the Difference Between a High-Yield Jumbo CD and a Regular CD?
Certificates of deposit (CDs) could be a good investment option if you have a large sum of cash and a short-term savings goal. These federally insured, low-risk investments offer a predictable fixed rate of return and allow you to bypass broker commissions by investing directly with a bank or credit union.
FICO® Score vs Credit Score
Your credit score can affect the type of car you drive, the credit cards you qualify for, where you live (both if you buy or rent a home), the job you get—even the premiums you pay for car insurance in some states. But just what is this mysterious three-digit number known as your credit score? And do you have only one?
Using the COVID-19 Quarantine to Develop Better Financial Habits
Whether you’re still hunkered down in your home or just spending less time out and about since the coronavirus pandemic, chances are you’ve found yourself with some time to kill. And you can only binge watch so many movies and television series. So, if you’re not using this newfound time to learn a new language or work on your great American novel, why not use some of it to develop something that may actually pay off once things get back to normal?….whatever “normal” turns out to be. Why not take this opportunity to begin developing better financial habits?
Using a Credit Card for Wedding Expenses
Planning your wedding can be both exciting and overwhelming. From choosing a venue, deciding on the guest list, to planning every ceremonial detail, there’s plenty to consider in preparation for the big day. With the average wedding ceremony and reception costing $28,000, you and your partner may need to make some hard money decisions to avoid bankrupting your marriage in order to pay for your wedding.
Taking Advantage of Balance Transfers
One of the benefits credit cards offer is convenience. They make it easier to pay for everyday expenses and larger purchases that would otherwise require carrying a lot of cash. But, if you’ve settled into making only the minimum required payment each month on your credit card, you may find you’re paying an excessive amount of interest and your outstanding balance seems to be decreasing at a snail’s pace.
Credit Card Perks Sometimes Overlooked
There are several advantages credit cards offer over cash, including special perks that cash can’t match. But these credit card perks are sometimes overlooked—oftentimes because card members aren’t even aware that their credit cards offer them. Taking advantage of credit card perks and benefits could save you time, money, and maybe even a few hassles. The perks credit cards offer may vary by card and card issuer, but there’s typically no additional charge to take advantage of these benefits—they’re either free or included as part of your credit card’s annual fee.
How Many Credit Cards Are Too Many?
Credit cards can increase your purchasing power. Just one credit card can give card members a convenient way to buy big-ticket items, cover emergency expenses, and pay for vacations without tapping into their checking or savings accounts. Multiply that power by three, and it might seem excessive. But not to everyone.
What is APR on a Credit Card?
Three little letters can significantly influence your finances: A…P…R. This often misunderstood acronym stands for “Annual Percentage Rate” and represents the cost of borrowing money.
Which Types of Interest Are Tax Deductible?
Interest charges can take a big bite out of most any budget. But did you know that certain interest payments could actually help lower your income tax bill? When you itemize eligible interest expenses on your federal income tax return, you may be able to keep more cash in your bank account by reducing your IRS tax liability.
What’s the Difference Between a High-Yield Jumbo CD and a Regular CD?
Certificates of deposit (CDs) could be a good investment option if you have a large sum of cash and a short-term savings goal. These federally insured, low-risk investments offer a predictable fixed rate of return and allow you to bypass broker commissions by investing directly with a bank or credit union.
FICO® Score vs Credit Score
Your credit score can affect the type of car you drive, the credit cards you qualify for, where you live (both if you buy or rent a home), the job you get—even the premiums you pay for car insurance in some states. But just what is this mysterious three-digit number known as your credit score? And do you have only one?