Are balance transfers worth it?

July 7, 2024 No Comments

A: When it comes to credit card debt, balance transfers are worth it if one measure is met: If the balance being transferred has an annual percentage rate (APR) that is lower than its current APR. This is interest rate that is charged on the

Are direct consolidation loans subsidized?

July 7, 2024 No Comments

A: When college students leave school, they can borrow a Direct Consolidation Loan to combine various federal student loans taken out while in school into one loan and make one low monthly payment. Direct Consolidation Loans are not subsidized, meaning the government does not pay

Are personal loans bad for your credit score?

July 7, 2024 No Comments

A: Taking out a personal loan is not bad for your credit score in and of itself. However, there are several factors that come with taking out a new loan that could affect your overall credit score. What Factors Into Your Credit Score To understand

Are Sallie Mae loans considered federal loans?

July 7, 2024 No Comments

A: SLM Corporation (SLM), more commonly known as Sallie Mae, is a public corporation and a private-sector lender, so its direct loans are not federal loans. Basically, federal student loans consist of funds that are provided by the U.S. government, while private student loans come

Are student loans forgiven after death?

July 7, 2024 No Comments

A: There are four scenarios that may occur with student loans if the borrower dies: Federal student loan (with or without co-signer): the loan is forgiven and no one owes any money Federal PLUS loan: the loan is forgiven but the parents will owe

Are travel rewards credit cards worth it?

July 7, 2024 No Comments

A: A travel rewards credit card may be worth it, depending on how frequently you travel, whether you can afford to charge the amount required on the card to qualify for rewards and whether you can pay off the card balance on a monthly basis.

What methods can the government use to control inflation?

July 7, 2024 No Comments

A: Inflation occurs when an economy grows due to increased spending. When this happens, prices rise and the currency within the economy is worth less than it was before; the currency essentially won’t buy as much as it would before. When a currency is worth less, its exchange rate

Why would you keep funds in a money market account and not a savings account?

June 30, 2024 No Comments

A: Most banks offer both money market accounts and savings accounts for depositors, although money market accounts are less universal. At first glance, these two accounts are remarkably similar – both are interest-paying, both have some liquidity limits and both are protected by the Federal

Will Netspend cards let you overdraw your account?

June 30, 2024 No Comments

A: Netspend lets cardholders overdraw their accounts, but only if they previously enrolled in the overdraft protection service. Otherwise, Netspend does not authorize and pay on overdrafts. Netspend cards are prepaid debit cards that allow cardholders to make purchases worldwide using the pre-funded money deposited

Why should I pay myself first?

June 30, 2024 No Comments

A: The concept of “paying yourself first” is one of the pillars of personal finance and considered the golden rule by many financial planners. The basic idea is simple to understand. As soon as you get paid, put money into your savings account first. Before

All Rights Reserved