admin Quick Look The Fed raised interest rates by 25 basis points on May 3, 2023. Economists expected this, but there was more uncertainty around this hike than past ones. Due to the Fed’s raise in May 2023, interest rates on credit cards and mortgages increased. Savings account yields increased as well. The Fed hopes to … Read more
The sudden collapse of Silicon Valley Bank in March 2023 was a sobering reminder that even the biggest banks can fail — and potentially take their customers’ deposits with them. The federal government stepped in to cover Silicon Valley Bank’s customers’ deposits, preventing large-scale deposit losses. But because SVB’s failure occurred in part because it … Read more
You drive a lot. Maybe you have a long commute or use your car for work. Maybe you’re constantly ferrying your kids to and from school and extracurriculars. Maybe you’d take a well-routed road trip over a flight to your destination any day of the week. Or all of the above. Whatever the case, that … Read more
Personal Capital offers a suite of investment tools and access to a financial advisor, completely free. Best of all, they let you aggregate all of your financial accounts, and then they provide an investment-related analysis of your entire portfolio. Find out more about this great service in my complete review of Personal Capital. One thing … Read more
The 20 largest banks in the United States include some names you’ve probably heard before, like Bank of America and Wells Fargo. The list also includes banks that aren’t as well-known across the country, like Truist, TD Bank, and State Street. The ranks change every year as upstart banks with better online banking features and … Read more
If you’re in the market for a straightforward savings account that offers government-backed deposit insurance and accepts applications from people all across the United States, banks aren’t your only option. You can also choose from a bunch of reputable credit unions with national footprints and attractive savings yields. One of the best of this group … Read more
We both know why you’re here. Maybe you were too lazy to get up and get your checkbook. Maybe you don’t have a checkbook. But now, you’re expecting a list of Wells Fargo routing numbers. And you won’t be disappointed. And if that’s really all you came for, just click the appropriate link in the … Read more
To get a house with a decent mortgage rate, you need a good to excellent credit score. But your biggest, most important payment — your rent — doesn’t even count. That’s an even bigger problem if your credit score doesn’t show any other key forms of credit, like a credit card or car payment. It … Read more
For many years, the financial crisis of the late 2000s left a persistent legacy: stubbornly low interest rates on low-risk, low-reward investment vehicles. Rates on savings accounts, money market funds and government bonds remained at or below the rate of inflation basically through the 2010s, and interest rates on consumer-facing mortgages and auto loans remained … Read more
There are several businesses near me that either only take cash or highly encourage the use of cash via heavy discounts. One of them even takes pesos if that’s all you’ve got, but they prefer you don’t use credit cards. And it’s all about avoiding interchange fees. That’s because every time you swipe, tap, or … Read more