Saving up money for a down payment and closing costs has created a barrier for many would-be homeowners. To make it a worthwhile debt to incur, incentive programs were designed, like the mortgage interest tax deduction, which has made it even more attractive for renters to take the leap and …
Read More »
Compound interest is an incredibly powerful force. It allows your money to start growing on its own, with the returns exploding in value over time, if you have the patience. While the idea is easy to understand, the actual application of it can be tricky. Does it make a difference …
Read More »
The basic concept of interest is really straightforward. If you have $ 10,000 in an investment and it earns 10% interest compounded annually, you’ll earn $ 1,000 in interest in a year. It’s easy — it’s just 10% of $ 10,000. Yet, if you try to apply that type of …
Read More »
Credit card interest can be unrelenting. Even if you don’t charge a single thing on the credit card for a full month, the balance can still go up. Credit cards are designed from the ground up to keep extracting money from your pocket as efficiently as possible and for as …
Read More »Photo by HBRH / Shutterstock.com Thanks to the coronavirus-related financial crisis, we’ve broken more records in U.S. financial markets: Interest rates on some government securities have now dropped below zero, with one hitting a new low. As of this morning, three-month Treasury bills on the secondary market were paying negative …
Read More »