Everyday Money

What is credit? Why does it matter? And how do you find out if yours is good or needs improvement? These are all really good questions to ask as your credit helps different companies determine whether or not they will lend to you. Poor credit may affect everything from credit cards, car loans and apartment rentals, to school loans, and buying your own home. Your credit-worthiness is determined by your credit score; a 3 digit number calculated by five different

With so many different bank accounts available, it’s hard to know which one is best for your particular needs. Here, we’re going to discuss money market accounts and whether they might be a good fit for you. Let’s start at the beginning. A money market is essentially a savings account with a couple extra perks. It will typically pay a higher interest rate than the average savings account, and you have the ability to write checks from it. So, not

Good credit is the key to a solid financial future, which is why tips to build good credit are critically important. When establishing financial fitness goals, it’s easier to build a credit score than to repair a bad one. Having a good credit history is key to any financial plan. Credit scores take into consideration years of past behavior, so it’s important to establish a history of responsible credit practices and build your score by maintaining good habits. Here are

Saving money is kind of like eating a healthy diet. You know you should do more of it, but it’s hard to resist making spur-of-the-moment choices that make you happier now but worse off later. A tax refund marks a great chance to set yourself in a better position for the future. If you’re getting a windfall from the IRS, here are a dozen great ways to make sure your money continues to work for you. The above article is

How to Find Your Check Routing Number Finding your 9-digit check routing number is useful when you’re setting up direct deposits or automatic payments. At the bottom of every check, you’ll see three groups of numbers: your routing number, your account number, and your check number. (Yep, people still write checks, and even if you don’t pull them out often, those numbers are still important!) Here’s how to tell them apart: Routing number The routing number is the first set of numbers in

Sometimes, due to layoffs, business failures, miscalculations or even fraud, some people’s credit ratings can fall. They may miss payments, the major credit rating agencies take note of this, and it goes on their records — typically for seven years. The net effect is to lower their FICO credit scores. This is a combination of 49 individual ratings to form a simple score from 300 to 850. Banks and credit agencies generally use it to decide if you are worthy

When you deposit money in a bank at a branch, you need to fill out a deposit slip to direct the funds to the right account.  The process of filling out parts of a deposit slip varies depending on what you’re doing. For example, cash and checks go in different sections, and getting cashback from your deposit requires an additional step.  The good news is that how to fill out a bank deposit slip is pretty easy, and the steps are below!

One of the more basic terms that you should understand when it comes to your money and banking is APY, as it is a significant term in understanding how your money grows. In this blog, you’ll find a quick overview of this term. Read on! In a nutshell: APY= Annual Percentage Yield.Annual percentage yield is the number that tells you how much you’ll earn with compound interest over the course of one year. A higher APY is generally better when you’re looking at

In today’s financial world, things are always changing. How much do you know about the products and services offered by your bank, including certificates of deposit, loans and accounts? Here is a quick quiz to test your knowledge  How Much Do You Know about CDs,  Bank Accounts, Loans and More?  Take the quiz below to find out! Question #1: Certificates of deposit with longer maturities usually provide higher interest rates than those with shorter maturities. a. Trueb. False Question #2:  Why is

Question #1: Certificates of deposit with longer maturities usually provide higher interest rates than those with shorter maturities. a. Trueb. False The financial IQ answer is a.Usually institutions are willing to pay higher interest rates if you are willing to commit to leaving your money on deposit for longer periods. If you prepared a graph and plotted interest rates on the vertical axis and time periods along the horizontal axis, you would have what is sometimes called a “yield curve.”