APR Basics: What Is It And How To Calculate APR

When you take out a loan, you usually see the interest rate you have to pay the bank that lends you the money. However, there are other things you as a borrower should be aware of. One of them is the so-called APR, which  stands for Annual Percentage Rate. This is the annual rate of interest you have to pay on your loan. The lower the APR is, the lower your monthly installments […]

Read more

What Are The Different Types of IRA

IRA stands for individual retirement account and this is a savings account in which people put some money for “rainy days” – retirement. These accounts offer some tax advantages and there are two main types – Traditional and Roth IRA. To have an IRA you must meet two major requirements – you should be under the age of 70.5 and also have a monthly income. Your IRA will invest the money you have put into the account in various business opportunities – stocks, bonds, and make a profit for you.

Read more

How Can You Get a Credit Card with Bad Credit?

Having poor credit isn’t a benefit in an individual’s budget, however, it’s not the end of the arena. Whether your credit score has taken a disastrous turn due to a loss of career, immoderate medical debt, or negative money management, you always have the opportunity to elevate your credit over the years. There are alternative routes to making the most out of this situation.

Read more

How To Negotiate A Balance Transfer Fee?

A balance transfer is the process of transferring partially or all of the balance of an existing credit card to a new one. This is also known as debt consolidation. The main reason people do that is to lower the interest rate on their current credit cards. That comes in handy especially if the balance is very high. Thus, you will pay more to reduce the credit card balance and less to pay interest.

Read more

Student Loan Refinancing – Is It Recommended For You?

The federal student’s loan interest rates are set up by the congress and on the other hand, the private students’ loans interest rates are set up by terms of the underlying contractual loan. Therefore, under these tight conditions, the student is left with no option but to refinance their loans in order to lower their rates. This is done through a private lender […]

Read more

What Are Robo-Advisors And Should You Consider It?

Robo-advisors are a kind of financial advisers that provide online financial advice or portfolio with minimal human intervention. They became popular when people began searching for inexpensive but convenient automated opportunities.  Within minutes, robo-advisors can help you set up a diverse but customized portfolio right in the comfort of your desk […]

Read more

The Best Ways To Get A Credit Card Without A Credit History

Almost everything requires credit – from renting an apartment, getting a cell phone and sometimes, even landing a job.  In this new age of technology and harsh economic times, the credit card has become the wallet’s best companion.  We have become dependent on plastic to make our activities more convenient whether in paying our bills, making purchases and receiving money. However, getting a credit card isn’t easy because one has to have a good credit history.

Read more

Universal Life Insurance: Pros and Cons

Universal life insurance (also known as UL policy) is a type of life insurance which combines two elements: a lifetime coverage and a savings account feature. Not only does it offer insurance over a long period of time but also the chance to gain cash value, which acts as a savings account. It accumulates interest over time.In fact, the cash value is the thing that makes this type of policy so attractive […]

Read more

Penalty-Free Withdrawals From Traditional IRAs

IRA stands for Individual Retirement Account and is a savings account, whose purpose is to support an individual’s life after retirement. IRAs offers some tax advantages which makes them attractive. Withdrawing money (called “early” or “premature” distribution) before the age of 59½ is taxable. Moreover, individuals might pay an additional 10% distribution penalty […]

Read more

Everything You Need to Know about FHA Loans

Are you on the lookout for a new, cozy and comfortable home? Is this is the first time you are looking for the dream house? Perhaps it would be a great idea for you to learn more about the so-called FHA loans. What are they? Why do so many people opt for them? How can you qualify and what are the requirements? Today’s topic is Everything You need to Know about FHA Loans….

Read more