For many years, Certificates of Deposit (CDs) offered low interest rates, thus limiting their investment potential. Now, however, CD rates are on the rise, and in many cases, are exceeding 3 percent. So are they good investments? As is often the case, that depends. CDs are similar to bonds: You fork over a lump sum of cash, and in exchange, you're paid interest. With CDs, … [Read more...] about Considering cash deposits amid high-interest rates and inflation
Finance
What to do when a relative asks for money
Someone you love needs money and they are asking you. Don't reach into your wallet before you take a moment to think. * Consider the problem. Money isn't the solution if the problem is that the relative spends too much, saves nothing, or doesn't work. Your money only puts off the consequences for bad decisions.* Ask yourself what you can afford. You can't impoverish … [Read more...] about What to do when a relative asks for money
Here’s why diversification is important in investing
Diversify. Diversify. Diversify. Study investing and "diversification" ranks among the most common terms tossed around. Indeed, the first bit of advice many professional investors offer newbies is to diversify their investment portfolio. So what makes diversification such an important concept? Let's dig in. First, diversification means spreading your investments across … [Read more...] about Here’s why diversification is important in investing
When and how to amend your tax return
Not every tax mistake may require you to file an amended return, but some mistakes are important to correct.If you made a minor mistake in addition or subtraction, for example, the IRS will probably make the correction for you. The agency will send you a letter telling you what they corrected, how it affects your return and what you have to do next, if anything. But for … [Read more...] about When and how to amend your tax return
Store cards do hard credit pull
At the checkout, the clerk asks if you want a whopping 20 percent off your purchase. You only have to apply for a store card.No matter how the pitch goes, there is one thing you should know: The store will pull a hard credit inquiry. A hard inquiry will generally lower your credit score.According to Wallet Hub, there is really no such thing as a soft pull on a store card … [Read more...] about Store cards do hard credit pull