Images by GettyImages; Illustration by Hunter Newton/Bankrate Key takeaways A no-down-payment mortgage allows you to finance 100 percent of your home, but you’ll likely still have to pay closing costs — or roll them into your mortgage. VA loans and USDA loans don’t typically require a down payment. If you…
Key takeaways Financial literacy is the ability to handle everyday money basics — budgeting, paying bills on time, building a starter cushion and using credit responsibly. Financial fluency is a step beyond literacy: You understand financial concepts well enough to solve problems and deliberately use tools like credit, refinancing and…
Key takeaways Annuities provide steady income and can complement Social Security and pensions in retirement. Each annuity type has trade-offs, so it’s important to understand the pros and cons of fixed, variable and indexed annuities before choosing. Customization adds costs. Riders like death benefits or long-term care coverage can make…
Alliant Credit Union, Ally Bank, Amerant Bank, America First Credit Union, American Airlines Federal Credit Union, American Express National Bank, Apple Bank, Arvest Bank, Axos Bank, Banesco USA, Bank of America, Bank of Hope, Bank5 Connect, BankPurely, BankUnited Direct, Barclays Bank, Bask Bank, BMO Alto, BMO Bank, Boeing Employees’ Credit…
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The big new fees JPMorgan Chase is planning to charge some financial technology companies may well trickle down to consumers,…
With artificial intelligence beginning to eat away at many white-collar entry-level jobs, and the unemployment rate for recent college graduates…
If a society is going to make intelligent choices in policy, it helps to understand reality, which includes facts and…
New York startup Casap has raised $25 million in new funding to help banks tackle the thorny problem of credit…
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Key takeaways If you received a store credit card you didn’t sign up for, that means someone else likely signed you up without your permission. Issuing a card without your permission violates the Truth in Lending Act and is considered fraud. You should cancel the…
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Is this method of consolidating debts a good idea? If you are considering using a credit card as a debt consolidation option here…
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When it comes to selling coconut water to the health obsessed, New York’s Vita Coco has served up a master class, schooling even…
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Key takeaways Debit cards let you pay for things with money in your bank account, while credit cards pay with a line of credit. A debit card can be handy for preventing overspending and interest charges, as well as for withdrawing cash. A credit card can help you build your…
Key takeaways Who you inherit a 401(k) from dictates what you can do with it. Knowing the rules for an inherited 401(k) can help you avoid taxes and penalties. If the 10-year rule applies, keep up with the dates to ensure you get the maximum value. If a loved one…
Tapping into your retirement savings early may seem like a risky idea, but there are many reasons why you may have to take money from your 401(k) before retirement. These accounts are meant to support you in your later years, yet unexpected financial challenges can force your hand at using…
Key takeaways You can use home equity to buy another house if you have a big enough ownership stake in your residence and meet other eligibility requirements. The most common ways to tap your equity are via a home equity loan or home equity line of credit (HELOC). Purchasing property…
With a Roth IRA, you contribute after-tax dollars, so there is no tax deduction when you put money in. The benefit comes later because your investments grow tax-free and qualified withdrawals in retirement are also tax-free. This differs from traditional IRAs, which give you a tax break upfront but require…
Some schools are back in session, but many families are still getting prepared for another back-to-school season — and the expenses that come with it. From tuition to backpacks and computers, parents may be looking for ways to save. Families plan to spend an average of $858 on school supplies,…
Moving away from home, making new friends and getting to class on time are some of the big changes college students face after high school. With all that this new group of adults is facing, it’s a wonder that there’s time for anything else, let alone investing. But surprisingly, college…
There are many approaches to making money in the stock market, but most fall under two main categories: investing and trading. The difference between these strategies comes down to two things: time horizon (how long you’re willing to hold a position) and mindset (whether you think like an owner or…
Key takeaways Invoice factoring allows you to use your accounts receivable to qualify for funding, making them more accessible than other business loans. Factoring companies will collect the invoices directly from your customers. You pay the invoice factoring company a percentage of the invoice amount after invoices are collected. You…
When you leave a job or retire, you need to decide what to do with your 401(k). If it’s a traditional 401(k), you can move it to a traditional IRA, where taxes are paid when you withdraw, or to a Roth IRA, where you pay taxes now but withdrawals in…
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