Summary: Unlike a physical debit card, you can start using your instant virtual debit card with an online bank account immediately without waiting days for it to arrive in your mailbox. Plus, you can add your card details to Google Pay or Apple Pay to make contactless purchases online or in person. If you’re interested […]
Summary: Paying your monthly bills with a credit card can be a great way to build your credit file, track expenses, and boost your credit score. However, certain bills — such as installment-based debt — might not allow you to pay with a credit card. So before using this method to pay bills, check with […]
Summary: After winning the lottery, it’s important to take the proper steps to ensure your newfound wealth is safeguarded and managed well. Start by seeking advice from a financial adviser who can recommend the best way to invest, save, and protect your money. It’s also important to create a budget and monitor your spending. By […]
Summary: Triple net (NNN) lease agreements are becoming increasingly popular in the commercial real estate space. The three “nets” refer to property taxes, building insurance premiums, and maintenance charges tenants pay on top of their monthly rent payments. With this arrangement, tenants could gain more control over the appearance and upkeep of the property, while […]
Summary: Prenups are agreements drawn up between couples before marriage that spell out the financial obligations in the event of divorce and protect each spouse’s right to their separate property. Postnups have similar benefits but are signed after marriage. Though marital agreements like prenups and postnups might be seen as transactional and unromantic, they are […]
Summary: While you can withdraw 401(k) funds for a home purchase, this often isn’t a smart idea, especially if you’re under 59½. Not only will you miss out on the money earned from compounding interest, but you’ll also incur stiff penalties and taxes, which could throw your retirement plans off course. The idea of homeownership […]
Article Summary: Whether it be insufficient funds in the account, details entered incorrectly, or technical issues, most of us have seen a credit card decline code. Although nobody wants to see their credit card declined, credit card error codes offer useful clues to help merchants and customers make sense of what went wrong with the […]
Summary: Some of the best assets to buy in your 20s include index funds, dividend stocks, and real estate investment properties. That said, you can also invest in more passive-income assets, including REITs, or in your own future and financial independence by returning to school or building your retirement plan. Your 20s are a defining […]
Summary: Both 401(k)s and Roth IRA accounts are popular choices for retirement savings. A 401(k) is a workplace retirement plan set up by your employer, while a Roth IRA is an individual retirement account that you set up yourself. Both a Roth IRA and a 401(k) offer tax advantages on investments, so which one is […]
Summary: Though you can never truly anticipate unexpected expenses, you can prepare for them by building up your emergency funds. To increase the amount of money you can set aside in your emergency fund, live below your means and automate your savings as well. Unplanned expenses can throw our lives into a chaotic spiral if […]
Summary: Secured loans through dealerships and personal loans are the two most common ways to finance mopeds or scooters. Dealerships often offer special deals for customers, but it can be a challenge to compare the actual cost of different offers. Personal loans are very convenient and flexible, but you may end up paying a higher […]
Article Summary: Real estate syndication is a type of investment strategy where multiple investors pool their money together to purchase a real estate asset. The property is then managed by a sponsor, who’s responsible for making sure that it’s well-maintained and profitable. By gathering the financial and intellectual resources of investors and sponsors, real estate […]
Article Summary: The “buy, borrow, die” strategy is a popular estate planning tool that many wealthy people use to minimize the amount of taxes they owe on their investments. The basic idea is to purchase investments that appreciate in value, borrow against these assets and use them as collateral for loans, and then pass on […]
Article Summary: Debit cards offer a convenient way to access cash and make regular purchases. However, most financial institutions impose daily spending limits on debit cards to protect your account from fraud. This safety measure means that if you attempt to spend an amount greater than your daily limit, the transaction could be denied. Thankfully, […]
Article Summary: Late payments can have a significant impact on your credit score. A single late payment can drop your score by over 50 points, and if you constantly miss payments, your score could plummet even further. This negative record can also stain your credit report for up to seven years. Fortunately, you might be […]
Article Summary: A health savings account (HSA) is a type of tax-advantaged account that can be used to pay for qualified medical expenses. HSAs are often called “triple tax-advantaged” because contributions you make to the account are deducted from your taxable income, you don’t pay taxes on earnings in the account, and future withdrawals from […]
Article Summary: While stashing your emergency fund under your mattress might seem like a good idea, it’s not necessarily the best way to safeguard your hard-earned cash. Some of the best places to keep your emergency fund instead include interesting-bearing bank accounts (both checking and savings), money market accounts, and Roth IRAs. These options offer […]
Summary: Savings accounts offer several advantages over other types of bank accounts, such as the security of FDIC insurance for up to $250,000 per depositor and the ability to earn interest on deposited funds. However, there are also some drawbacks to savings accounts. For instance, you may be only allowed to withdraw money from your […]
Article Summary: Anyone can retire at 50 if they start saving and investing early enough (and aggressively enough), pay off their debts, and keep their expenses under control. You may also want to hire a financial planner to advise you on the best savings strategies and start saving in an account with compound interest to […]
Article Summary: One potential alternative to renting or owning a house is publicly owned housing, an idea proposed by Shane Phillips. This housing option would combine rent-style living with the equity-building bonus of homeownership. However, there are several other housing options available, such as living in an RV, on a boat, or co-living with roommates. […]
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