This page consists of blog posts that discuss the topics of saving money, budgeting, earning more interest, and paying less interest. You will find information on banking, borrowing, budgeting, and creative ideas on saving.
Micro-Investing Apps, like Micro-Savings Apps, are designed to help you save without you feeling it. All of these apps do charge high fees for investing. They are not the best choices for an avid investor, but may help the beginner investor get started in investing. Here are the top 3 Micro-Investing Apps. 1. Qapital Qapital is an app that offers 8 customizable rules such as the Round Up and Spend Less Features. With the Spend Less feature, it will save…
Saving money can be difficult, especially for those with low-income. Here are some surprising hacks that can help you save money. 1. Open an interest checking account and high-yield savings account. Your bank may already offer these. You just need to apply for them. You should be able to find a high yield savings account at 0.5% or better with a quick online search. Make sure you choose a bank with ZERO fees and ZERO minimum balance. I like to…
Velocity Banking uses a line of credit to pay off your ammortized mortgage or student loan. The concept includes borrowing money at simple interest to pay for a loan that charges amortized interest, thus saving you huge amounts of money on your loan. To get a good credit card or get a home equity line of credit, you need a good credit report. What if you don't have credit? You can still follow the velocity banking method to pay your…
Micro-savings apps are designed to help you passively save for a savings goal. Their concept typically involves taking small amounts of money from your checking account in a way that you barely notice. Many of these apps allow you to set savings goals or customize the way you save. Here is a list of the top 5 Micro-Saving Apps. 1. Qapital Qapital is an app that offers customizable goals and rules such as the Round Up and Spend Less Features.…
Is $1 million enough to retire these days? You shouldn't retire based on age, but instead should focus on improving your net worth to reach your retirement goal, allowing you to retire as early as your 50's, 40's, or even 30's if you have a good income and start early enough. F.I.R.E. stands for "Financially Independence, Retire Early", but it's not for everyone. Here are 3 steps you need to take to reach the goals of the F.I.R.E. movement. 1.…
For over a decade I used Intuit's Mint app to track my net worth, expenses, and credit score. I was tired of dealing with the sync issues in Mint so I started to look elsewhere. That is when I found NerdWallet. Like Mint, NerdWallet is free and tracks your net worth, expenses, budgets, and credit score. I was able to connect all of my accounts (banking, credit, loans, retirement, and investment) to NerdWallet without any hiccup. Open the app and…
Cryptocurrency is an unregulated and decentralized digital currency that can be used to buy goods and services. Bitcoin, the most popular crypto, has been around since 2018 and has just hit a price of $30,000 for the first time. In fact, the value increased by $5000 in the first few days of 2021. There are many people who think Bitcoin and cryptocurrency is a scam while others invest all of their money in Bitcoin. The truth is you can buy…
I recently stumbled on the concept of making money with bank bonuses. Many different banks offer you referral bonuses or sign-on bonuses when you setup a recurring deposit or deposit a certain amount of cash. This is their way of attracting new customers. These bonuses range from $50 to as high as $1000 with most of them being offered at $250 or less. It turns out some finance-savvy people spend the time to investigate bank bonuses throughout the United States,…
Yotta Savings is a no fee lottery inspired savings account that gives you the chance to win up to $10 million every week. Americans spend billions of dollars on the lottery each year, yet 40% of American's can't afford a $400 emergency expense. Yotta Savings was created as a solution to allow you to play in a lottery while you save. Yotta Savings gives you a lottery ticket for every $25 you save, encouraging you to save up money. In…
A Roth IRA is a retirement savings account. Unlike a 401k, Roth IRA contributions are not tax-deductable, however earnings can grow tax-free. To withdraw your money from a Roth IRA retirement account without paying the tax or 10% penalty, you must: Withdraw money after age 59½.Withdraw money after you have held the Roth IRA account for at least 5 years. Younger than 59½? Withdraw money for one of the following exceptions:Can withdraw up to $10,000 for a first-time home purchase. Can withdraw…
