Here’s how to get lower interest rates without a Fed rate cut
The Federal Reserve left rates unchanged last week and signaled that only one cut is expected before the end of the year. That means anyone who carries a balance on their credit card won’t be getting much of a break from sky-high interest charges. “Consumers need to understand that the cavalry isn’t coming anytime soon, […]
Here’s how to avoid surprises with home maintenance costs
Senior couple repairing kitchen cabinet at home Momo Productions | Digitalvision | Getty Images Alex Marrero and his wife bought their first home this spring in Coral Springs, Florida — and the couple has already spent nearly $17,000 on home maintenance, repairs and installations. While they knew they needed to do improvements from “the minute […]
How to personally audit your financial life to ensure you are on track
In this article, while we will try to establish a structure to personal financial audits, we should also acknowledge that since we are emotionally attached to our finances (and we also have our own biases), it would be necessary at times and for some people to have some external intervention, like getting professional investment advisers […]
How to manage your personal loan efficiently? Here are 5 best ways
Personal loans play an important part in the financial landscape, providing individuals and businesses with the financing they need to fulfill their objectives. Effective loan management, on the other hand, necessitates a complete grasp of the loan lifecycle as well as the use of best practices at each stage. Personal loans are a useful instrument […]
Personal loan: How to get your application approved? 6 important factors to keep in mind
Lenders examine myriad factors when reviewing your application for a personal loan to assess your eligibility and determine the interest rate you can receive. They want to lend money responsibly and make sure borrowers can afford to repay it, so they are cautious in their evaluations. The following are some important factors that affect the […]
How to effectively use credit cards for summer travel
Klaus Vedfelt | Digitalvision | Getty Images If you plan to spend money on travel as the days get longer, sunnier and warmer, be careful: It could leave you with high-interest debt you will still be paying off through the fall and winter. Almost half (45%) of Americans plan to take a summer trip requiring […]
Americans can’t stop ‘spaving’ — here’s how to avoid this financial trap
Spending more to save more is an all-too common pitfall. The opportunities for so-called “spaving” are nearly everywhere, whether it’s the lure of a “limited-time deal” or “buy one, get one free” or tacking on additional items to get a bigger discount or simply to reach the free shipping threshold. But spending to save can lead […]
How to make high interest rates work in your favor
That’s not good news for people borrowing money, but it’s a great time to have savings accounts, says Ted Rossman, chief credit card analyst at Bankrate. “The biggest benefit is for savers,” Rossman says. “You can still get over 5% on a totally liquid totally federally insured savings account. The top one-year certificates of deposit […]
How to manage multiple personal loans? Here are 6 effective ways
Managing multiple personal loans may seem daunting, but implementing effective strategies can streamline the process and potentially lead to savings. Here are some essential steps: Emphasise and overcome: Arrange your debts in descending order based on their interest rates. Direct any surplus funds towards the debt with the highest interest rate while maintaining minimum payments […]
How to ensure a good interest rate on your personal loan? Here are 3 primary ways
The suitability of an annual percentage rate (APR) for a personal loan varies based on several factors but typically ranges between 6% and 12%. Here’s a breakdown to assist you in gauging what constitutes a favourable APR for your circumstances: National average: As of February 28, 2024, the average APR for a personal loan in […]