Reference material for doing taxes, pen, pad, glasses, post-it note, laptop

Article Summary Filing your taxes can be a confusing and time-consuming process, and the last thing you want is to incur a late-filing penalty. Unfortunately, the COVID-19 pandemic has made it difficult for many taxpayers to file their taxes on time. In response, the IRS has announced that it will refund $1.2 billion in late-filing […]

Toy car on legal documents with two hands passing car keys behind

How Do Car Loans Work?

Article Summary: If you’re like most Americans, you’ll require a car loan to purchase a vehicle. Once you apply and receive loan approval, you’ll need to make a down payment on your car followed by monthly payments. The amount of your monthly payment will differ depending on your interest rate, which is calculated based on […]

Copper stock price analysis charts on laptop and phone

Article Summary: You can invest in copper through copper ETFs, purchasing stock in mining companies, buying copper futures contracts, or even by purchasing physical copper. Though this could be a great way to diversify your portfolio, copper investments can also be risky. Copper is not only one of the oldest and most precious metals ever […]

Couple smiling at a phone and holding a credit card

What is Purchase APR?

Article Summary: Credit card companies use your credit card’s purchase APR to calculate the interest added to your remaining balance. You may have a fixed APR, which stays the same from month to month, or a variable APR, which may vary between months, depending on your card’s terms. If you’re like most people, you probably […]

Two people reviewing financial statements on opposite sides of a table

Article Summary: Though you can’t directly report your payment history to credit bureaus, you can self-report through third-party services. These companies, such as Experian Boost and Self, report your previous bill payments to the bureaus. However, there are some downsides to these services. When it comes to credit, the age-old saying “you have to spend […]

Man looking concerned as he reviews his credit score

Article Summary: Typically, having bad credit is worse than having no credit history. This is primarily because it’s harder to repair bad credit than build it. However, there are some exceptions to this. Your credit score is a three-digit number that reflects your creditworthiness. Lenders use it to assess the risk of lending you money. […]

Elderly couple looking and gesturing towards a computer screen

Article Summary: Though both 401(k) and 401(a) plans are useful retirement accounts, they have a number of differences. This includes what employees may be eligible, whether pre- or post-tax dollars are contributed, and whether contributions are voluntary or required by employers. Saving for retirement is one of the most important financial decisions you’ll make in […]

Image of house plans, a calculator, and money to symbolize the idea of financing a new construction home

Article Summary: On average, duplexes cost between $95 and $220 per square foot to construct. Of course, these costs may vary drastically depending on the location of the property, what materials you use, and how you decide to furnish the space. Duplexes are becoming a popular option for people looking to buy property. These houses […]

Hands typing on a laptop keyboard while holding a credit card

Article Summary Credit cards do not have routing numbers, as these numbers are used to transfer money between bank accounts or different financial institutions. Instead, credit cards have a 15- or 16-digit number that identifies the issuing company and the holder’s account number. If you’ve signed up for a direct deposit or transferred funds to […]

Smiling banker in business attire with documents

What is a Leveraged Loan?

Article Summary A leveraged loan is typically used by companies to finance their acquisition or expansion projects. These loans are often structured in a way that allows the borrowing company to gain access to more funds than they could through traditional lending sources. For this reason, leveraged loans can be an attractive financing option for […]

Woman holding a credit card looking upset at a laptop screen

Article Summary: A CPN, short for credit privacy number or credit protection number, is a nine-digit number that works just like a Social Security number (SSN). Fraudulent companies sell this number to customers with bad credit to help them hide the poor credit history associated with their original SSN. Credit scores are often used by […]

Two people at opposite sides of a table reviewing financial statements

Article Summary A cov-lite loan is a type of loan that has weaker financial covenants than those found in traditional loans. This makes them more enticing to potential borrowers, as they come with fewer strings attached. But, it’s important to note that cov-lite loans are not without risk and should be entered into only after […]

Two people reviewing documents at a table with an open laptop in the background

What is an Air Loan Scheme?

Article Summary: An air loan is one of many foreclosure schemes designed to make a profit from completed loan transactions. These types of scams can be extremely costly for lenders, who often end up losing money when the fraudulent mortgages go into default. Mortgage fraud costs financial institutions in the United States billions of dollars […]

Person sitting on floor with legs crossed and papers scattered on floor

Article Summary: While there’s no magic number that will guarantee financial security, having a healthy cash reserve can help you weather any storm. Most financial experts recommend having enough cash on hand to pay for three to six months of expenses. To start saving, consider automating your savings, living below your means, and paying off […]

Jar of coins with a plant growing out of the top

Article Summary: Making smart financial decisions is the key to doubling your money. And while it may seem like a daunting task, doubling your money is actually quite achievable if you have the right knowledge and resources at your disposal. Doubling your money and achieving financial freedom doesn’t have to be a distant dream. With […]

Woman holding a credit card looking upset at a laptop screen

Article Summary: A high-risk personal loan, also known as a bad credit loan, is a personal loan with less than ideal terms and interest rates. However, these loans are often available to borrowers with lower credit scores. Though this provides financing to people in need, the high interest rates and poor terms may keep borrowers […]

Hands typing on a keyboard with images of shopping carts around fingers

Article Summary: Zip (previously QuadPay) is a popular payment platform that allows shoppers to pay for their purchases in four installments. This makes it an ideal solution for those who want to make a large purchase, but don’t want to pay all at once. But even though there are several perks to this payment method, […]

Couple smiling at a phone and holding a credit card

Article Summary: Though both financing options offer a revolving credit line, a line of credit and credit card are quite different. While a credit card is best for small, everyday purchases, a line of credit often offers a larger credit limit to use for bigger projects. When you’re short on cash, there are a few […]

Woman looking questioningly to the side while man holds house model

Article Summary: Owning a home is often seen as achieving the American Dream, but the reality is that purchasing a house is a major financial investment. For many people, the cost of buying a property outright is simply out of reach. But homeownership doesn’t have to be a distant dream. One way to make this […]

Man looking discouraged as he reviews his credit score

Article Summary: Though you can illegally change your credit score by paying a hacker to change it for you or inventing a new “credit identity,” these are dangerous and (again) illegal credit repair tactics. Rather than resorting to these methods, you can legally repair your credit score by making timely payments, reducing your credit utilization, […]