New Home

11 Terms to Know Before Applying for a Home Loan

So, you’ve decided to buy a home. You’ve found the perfect property and your offer was accepted. (Congratulations!) Now you’re ready to apply for a home loan. There’s just one small wrinkle: you don’t speak mortgage-ese. It’s not unusual to be confused by all the jargon, especially if you’re a first-time homebuyer. Lucky for you, […]

Online Banking

APY, APR, and Interest Rates: What You Need to Know and the One Thing You Don’t Want to Overlook

If you try to compare rates on things like auto loans, credit cards, home loans, or savings accounts, you’ll quickly see APY (annual percentage yield) and APR (annual percentage rate) numbers quoted all over the place. In a nutshell, APY refers to what you can earn in interest while APR refers to what you can […]

Mutual Funds

What Mutual Funds and Pizza Have in Common

Anytime someone utters the word “invest,” it seems like “mutual fund” isn’t too far behind. Yet when you hear “mutual fund,” your eyes might glaze over and your mind starts thinking about what pizza toppings you should order for dinner. Some say that you can’t go wrong with cheese, but you find it a little […]

Trading

Invest for Success: Building a Portfolio From Scratch

Each day, you step into your closet full of clothes to get dressed. Whether your style is classic, boho chic, athleisure, or Gorpcore (a.k.a. the new Normcore), you select pieces that fit that particular trend. The fashion runway may feel miles away from Wall Street. But as it turns out, you can think of investing […]

Credit

Yay or Nay: Using Your Credit Card to Pay Bills for Rewards

Paying your bills with your credit card may seem like a quick and easy way to rack up a boatload of points or cash back towards your next getaway (a cruise, perhaps?). But using a credit card for monthly bills could also put you on the road to accumulating a mountain of interest charges. So […]

Options

Option Trading Terminology & Definitions

The technical jargon associated with option trading can often make it seem intimidating. That’s why we decided to create this option trading terminology cheat sheet to help you keep track of it all. Here are some of the more common terms you’ll hear in a room full of option traders. A | B | C | D |  E  | F | G | H | I | J | K | L | M | N | O | P | Q | R […]

Finance Basics

Savings by Age: How Much to Save in Your 20s, 30s, 40s, and Beyond

As a popular song from the 90s declares, age ain’t nothing but a number. But as it turns out, age is also a good guidepost when calculating how much money you should save for various life events. That’s because aiming for an ideal amount to set aside (or verifying that your super saver tendencies have […]

Online Banking

10 Reasons Why You Get More than a Great Rate at Ally Bank

    How would you rate your current bank? Good is never enough. Satisfactory is not okay with us. Providing you with a great rate is important to us at Ally Bank, but we also believe the best online bank helps you make saving a way of life, too. Here’s why and how we go beyond […]

Car Shopping

Your Roadmap to Buying the Right Auto Insurance

Americans’ love affair with the car is more than a century old and still going strong. Who doesn’t get excited about all the options you can choose from when purchasing a set of wheels? But when it comes to the insurance that protects their car, drivers are usually less enthusiastic. (After all, insurance isn’t nearly […]

Online Banking

How APY Works & What It Means for Your Savings

Have you noticed banks quoting their “APYs” and wondered what that means? APY stands for annual percentage yield. Banks are required to prominently display this rate for their deposit accounts, like savings accounts and certificates of deposit (CDs). APY gives you the most accurate idea of what your money could earn in a year. What […]