Personal loans could be a wise option if you need to borrow to pay for a large expense or to cover a financial emergency. A personal loan lets you access a lump sum of cash that you can use to cover anything from medical bills to debt consolidation to home repairs. However, not all personal … Read more
Having a bank account can make your financial life easier. When you need to open one, you’ve got options, including checking, savings, money market, and certificate of deposit (CD) accounts. You also have a choice of financial institutions, including a traditional brick-and-mortar bank or credit union or an online financial institution.. To set up any … Read more
Mobile banking is a necessity for many consumers. What used to be novel is now the norm, with most banks and credit unions offering an app that allows customers to monitor their finances from their mobile devices. In 2019 the Federal Deposit Insurance Corporation (FDIC) conducted a survey, How America Banks: Household Use of Banking … Read more
Gone are the days of being required to visit a local bank branch to open a new account. With the rise of mobile apps, web platforms, and online-only banks, it’s now easier and faster than ever to open a bank account online without leaving home. Here’s a guide to opening an account online, what you’ll … Read more
There are many reasons people buy life insurance. New parents want to provide a financial safety net for their family. A small business owner wants to ensure their company has funds to reorganize and continue operating in their absence. And a senior might want a policy to provide funds for a funeral and other end-of-life … Read more
You have many choices when it comes to life insurance. These range from companies already around when Abraham Lincoln was president to modern day insuretechs built on 21st Century digital technology. Sorting through your options can be a challenge. We’ve reviewed a variety of life insurers to help you make a more informed decision. Best … Read more
The best bank accounts for kids feature low fees, convenient access, and helpful money management tools. Kids can also earn interest with a savings account. Opening a bank account on behalf of a child can be a great way to introduce them to the basics of money management. Online banks and traditional banks may offer … Read more
A defined-benefit plan, commonly known as a traditional pension plan, is a retirement plan funded by an employer that calculates employee benefits based on a formula that takes into account several factors, including age, employee’s salary, and length of employment. Defined-benefit pension plans, which still exist in some public-sector jobs, were common in the private … Read more
If you can’t accept the risks of the stock market, you need to decide on the best place to keep your money while maximizing earnings. Many look to high-yield savings accounts (HYSAs) and certificates of deposit (CDs) as options. Both offer safe and somewhat lucrative ways to grow savings with minimal risk. But which is … Read more
A personal loan can be a great way to pay for a home renovation project, fund a big expense, pay for a family vacation, or just cover unexpected costs that crop up. You can also use a personal loan to consolidate credit card debt and other outstanding balances, both to simplify repayment and save yourself … Read more
A money order is a financial instrument that allows you to pay bills or reimburse friends and family without having to write a check or use cash. You can get one from a bank, but you don’t need a bank account to use it. Many people use money orders as an alternative to cash or … Read more
According to a recent report by SafeHome.org, about 55% of renters have insurance. However, a survey from the report finds that 16% of renters who don’t have a policy say they are likely to buy one in the coming 12 months. If you’re buying renter’s insurance for the first time, you may be relieved to … Read more
Checking accounts lie at the center of our financial lives, acting as the primary account where paychecks and other funds come in and where bills and other expenses exit. Like a security checkpoint at an airport, everything passes through no matter where it’s going to or coming from. Because checking accounts are so important, it’s … Read more
If you’re like many homeowners, a sizable percentage of your budget goes toward your home loan each month. A mortgage refinance could help make those payments more manageable by lowering your interest rate, changing your loan term, or eliminating mortgage insurance. You could also tap your home equity with a cash-out refinance, which lets you … Read more
Savers who want to earn the most interest on their money should look at the best high-yield savings accounts. With interest rates on the rise, savers are earning higher rates in HYSA than they have in more than a decade. These accounts offer the functionality of traditional savings accounts but receive a much higher interest … Read more
Certain alternative investments—such as hedge funds, private equity, and venture capital—aren’t available to anyone with an investment account. This is because they’re generally not registered with the U.S. Securities and Exchange Commission (SEC). If you’d like to invest in these things, you’ll likely need accredited investor status first. However, you can’t just sign up to … Read more
A home mortgage is one of the biggest loans that most people will ever take out, allowing them to buy a home with a repayment term that can last multiple decades. Because a mortgage (and its terms) will likely follow you for many years to come, it’s important to choose the right lender from the … Read more