Everyone dreams of being their own boss, but not everyone has what it takes to start a small business. However, starting a lucrative small business, even a side hustle, has never been easier. Whether you have grandiose plans or just want to make a modest income, the steps to setting up any small business are essentially the same.
Buying a home is one of the biggest financial decisions in your life, and for many, it can be one of the most intimidating. There are so many considerations, such as where to buy, what you need in a home, how big your down payment should be, how much you can afford, and more. There also is so much paperwork with mortgage approvals, inspections, disclosures, and so on.
Have you ever thought about the difference between a bank and a credit union? Banks are part of a national or global business with local branches that offer financial services such as checking and savings accounts, mortgages, and loans. Credit unions offer those same services—checking, savings, retirement accounts, mortgages, loans. But credit unions serve a specific region or group, and they don’t have customers; they have members. The biggest difference between banks and credit unions can be summed up in a single word—community.
Identity theft and cybercrime have become a fact of life in the 21st century at a cost of $600 billion per year. With the right information, a hacker can clean out your bank account in seconds. And they are virtually untraceable. If the loss goes undetected for more than 60 days then the bank isn’t liable to cover cybercrime losses. What’s worse is, if you lose control of your identity, you can have unauthorized transactions, charges, and online activities that haunt you for years, affecting your credit rating and every other aspect of your life.
Is 2019 going to be the year you buy a new home? If you have been waiting for the perfect time to buy, then there is no time like the present. The housing market continues to fluctuate based on any number of factors, such as the amount of homes on the market and changes in mortgage rates. If you have been tracking the housing market, then you know how volatile it can be—and housing prices are expected to go nowhere but up, so it might be time to stop thinking about buying a home and actually take the next step.
Credit is a fact of life, and many Americans are overspending because of rising credit card limits. In order to make money, credit card companies want you to spend more than you can pay back each month on the revolving credit they provide. The problem is that too many Americans spend a lot more than they can afford to pay back, which results in having to make higher credit card payments without putting a dent in your overall debt. If you want to pay off a balance on a high-interest credit card, it may be time to consider a balance transfer.
Every family wants financial security. You need enough money to put food on the table and a roof over your head, but how much is enough to be comfortable? Do you have sufficient income to cover all your expenses each month? Are you saving for the future? What exactly do we mean by financial well-being, and what is the best way to achieve it?
The New Year is the time of resolutions. Whether it involves living a more healthy lifestyle, losing weight, or saving money, come January 1, you’ll want to start with a clean slate. Many people include saving more money on their list of New Year’s resolutions, but in order to increase your savings, you will have to change your money habits.
In the past, we have written about creating a household budget and managing the family expenses. There are some costs, such as groceries and utilities, that you will incur no matter what your living situation, but if you own your home, you will have homeowner expenses that you may not have anticipated.
Nothing remains the same, including your credit card. Terms change. Interest rates change. Your financial situation changes. Your life is in forward motion and your financial needs change, so why are you continuing to use the same old credit card?
There are a number of signs that indicate your credit card may be outdated and it’s time for an upgrade. Any of the following nine signs should be enough to make you consider a change: