Social Distancing has become a reality during this very strange time in our lives. Many of us are concerned with health, family, jobs, finances, and when we will get back to “normal” life. As with any uncertain time, being with your friends and family members always makes it easier. Although social distancing makes socializing a…
It is our duty to become as knowledgeable as possible about our money and the decisions we make that revolve around it. Whether we are borrowing money or having our money sit in an account, it is important to understand how interest works to ensure we make the best decisions. Simple interest and compound interest…
What Is a Minimum Payment?
The minimum payment is the least amount you are required to pay to keep your credit card account in good standing with the creditor. It is calculated monthly based on your balance at the end of each billing cycle. Commonly only 1-3% of the statement balance is the minimum…
1. Know Your Credit Score
Knowing your credit score can help you apply for cards that fit your credit profile. The better your score, the greater your chance of being approved for cards with better perks.
There are three ways to check your score:
The three major credit bureaus (It’s spring! I’ve just gotten a substantial tax return this year and I’ve decided to use some of the money to kickstart my kid’s college savings. Now I’m faced with a decision: Where should I put that money? Options vary depending on our family’s income and our family’s needs, but the two most popular options…