Finance

Which Credit Card Mistakes Are You Guilty Of?

Which Credit Card Mistakes Are You Guilty Of?

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Credit cards are a staple of finance. They allow you to borrow money to make purchases. Most have revolving balance systems, and you pay month to month until your debt is gone. While the arrangement is simple, many people are guilty of making the same credit card mistakes. What are the most common credit card mistakes? Let's talk about debt. Of all the credit card mistakes a person could commit, having too much debt is the worst. However, there's a caveat. Not all debts are bad. There are ways to use credit cards wisely. For instance, let's say you need new...
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The Most Effective Way to Choose a Tax Preparer

The Most Effective Way to Choose a Tax Preparer

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The law requires employers to mail out W-2 forms no later than January 31. Being said, pretty soon, everyone will need to choose a tax preparer and file their taxes. Do you know what criteria your tax professional should have? Are there certain red flags? Find out before making your selection. Choosing a Tax Professional While the expertise of tax professionals varies, they all must have an IRS issued preparer tax identification number (PTIN). If they want to prepare your return for compensation, make sure your preparer enters their PTIN on the return filed with the IRS. They may omit the...
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Dining Out Expenses Are Eating Through Your Wallet

Dining Out Expenses Are Eating Through Your Wallet

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Nothing tastes better than food prepared by someone else. With consumer demand at a historical high, restaurants serve millions of hungry patrons. It's an experience that leaves our stomachs full, but wallets empty. Truly, dining out expenses add up. Americans spend a lot of money dining out According to a 2017 survey, the Bureau of Labor Statistics reports that American households spend about $3,300 on dining out expenses. That's $600 higher than in 2014. The service industry continues to rise, and so does its gratuity expectations. Tipping culture remains a thing. It's all hard-earned cash, without a doubt. However, if we...
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The January Effect Could Cost You Big Money

The January Effect Could Cost You Big Money

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If you're the type to try new things at the beginning of the year, be aware when investing. The January Effect could cost you big money. Around this time each year, shady investment firms show how they've managed their client's portfolios to increase their earning's growth. Not only is this inaccurate, but it could cost big money. Before investing, do some research. The more you know, the better your chances are in making long-term profits. What is the January Effect? The January Effect is the seasonal trend for stocks to increase in January. Since the early 20th century, the stock...
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Financial Freedom Quotes Your Wallet Will Love

Financial Freedom Quotes Your Wallet Will Love

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They say every action starts with a thought. Why not let these financial freedom quotes motivate you? Below are the top 5 phrases to use for successful money management. 1. Use passion “Our goals can only be reached through a vehicle of a plan, in which we must fervently believe, and upon which we must vigorously act. There is no other route to success.” -Pablo Picasso First and foremost, going into any goal takes passion. If you put your complete effort into your achievements, you're bound to have great results. When thinking about your next financial move, create a plan...
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2020 is the Year You Should Pay Yourself First

2020 is the Year You Should Pay Yourself First

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The new year marks the perfect time to set future goals and make improvements. What did you do last year that you desire to change? Many people declare restrictions as part of their resolution. However, what if your goal provided a reward instead? For 2020, we suggest you pay yourself first, every single month. Pay yourself first to get ahead Primarily, you'll want to adopt the "pay yourself first" method as a way to pad your savings and investment accounts. You chose a percentage (1 through 5), and that amount of your income will go into your savings account before...
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December is the Best Time to Buy a Car

December is the Best Time to Buy a Car

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Purchasing a car is a huge decision. Since most buyers finance, planning for this long-term commitment is a must. Are there ways to save in the long run? When is the best time to buy a car? Get ready for some money-saving tips, because the optimum time to get a new ride is now. Two words: Sales quotas The closer to the end it gets, the more pressure there is to meet the year's sales quotas. December is the best time to buy a car because dealers are more likely to bargain. Additionally, they offer their highest incentives as a...
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The Powerful Way the Credit Union Philosophy Improved Banking

How the Credit Union Philosophy Improved Banking

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The story of finance has been full of changes. Even to this day, our money continues to evolve. Opinions about wealth control the mainstream, so it's easy to understand how events shift. That being said, the credit union philosophy shook our entire set of banking conventions. The historic path of U.S. credit unions started with just a single notion. Though it took a lot to make it stick, we still reap the rewards. The birth of the credit union philosophy Alphonse Desjardins was a journalist with simple beliefs. He felt that it was wrong for lenders to benefit from making...
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What is the Best APR for a Balance Transfer Promotion?

What is the Best Rate for a Balance Transfer?

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Want to know something about debt? It's everywhere. More than 189 million Americans have credit cards. Additionally, the average cardholder has at least three of them. So, why should we worry about the APR on a balance transfer promotion? Not only does switching to a lower APR help you get out of debt, but it's also a breath of fresh air. Imagine, reducing multiple credit cards down to one and paying less interest all at the same time. Most people don't know their current APR It's true. Most people do not know the current APR of their credit cards. They work hard to pay...
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