Budget

Debt Management Basics

The goal of every debt management plan ought to be to eventually stop paying interest and start earning it instead. It may sound like an unreachable dream to some, but with some basic debt management techniques and a solid debt management plan, you can achieve it. The reason a lot of people have difficulty getting […]

Finance Basics

Planning to Purchase a New Home

Ready to achieve your dream of purchasing a new home? Before you decide how to save, you need to decide how much to save. Think about whether you want to pay cash for your home or get a mortgage loan, and if you're going to get a mortgage, decide how much of a down payment […]

Budget

Make a Savings Account Your Emergency Fund

A savings account can be more than just a place to park your money until you need it. It actually can be the foundation of your overall debt management plan. And if you've decided to get out of debt altogether, a savings account can even help you reach your goal. For starters, you can sign […]

Finance Basics

Using Youth to Your (Financial) Advantage

Youth has its advantages when it comes to compounding interest. Here’s how it works. Let's say you deposited $1,000 in a 12-month certificate of deposit (CD), and your balance is $1,010 at maturity. Then, instead of withdrawing the $10 in interest earnings, you renew your CD for another 12 months under the same terms. Now […]

Finance Basics

How Financially Agile Are You?

Personal financial liquidity is a relative concept: some liquid assets are more liquid than others. Certificates of deposit (CDs), for example, may be more difficult to convert to cash because you usually have to pay an early withdrawal penalty if you withdraw money from the account before the maturity date. At the other end of […]

Finance Basics

You’ve Won Money, Now What?

If you're lucky enough to enjoy a financial windfall, from lottery winnings or a business investment, it can be tempting to spend it on things you don't really need. But if you do your research and weigh your options, you might make better financial decisions and discover a great opportunity to make that money work […]

Finance Basics

A Money Market Account, Savings Account or CD?

When you think about what to do with your cash assets, you may be trying to decide whether to open an online savings account, money market account or certificate of deposit (CD). Start by figuring out how much cash you're depositing and for how long. A general rule of thumb is that the more you […]

Finance Basics

Money Market Accounts vs. Bank CDs

CDsWhen you open a certificate of deposit (CD), you agree that you will not withdraw the funds until the maturity date, which varies from a few months to several years after you open the account, depending on the term you choose. You can close a CD before the term ends, but you typically will pay […]

Finance Basics

Certificate of Deposit Account or Online Savings Account?

Although funds in both savings accounts and certificates of deposit (CDs) are usually FDIC-insured and benefit from compounded interest, there may be advantages to choosing one over the other. CDs may have higher interest rates.To begin with, bank CDs tend to pay higher interest rates than regular savings accounts—depending on the CD term. Ally Bank […]

Finance Basics

Smart Exercise and Aging: How Exercise Improves Cognitive Function

Growing up is not the same as growing old; a thought that Peter Pan struggled to grasp, while Wendy Darling proved to be true. The former is a choice and latter is simply inevitable. Unfortunately, since we’re not movie characters, we’re forced to face this truth daily. Growing old means aging, a continuous process that […]