If you’ve ever overdrawn your bank account, there’s a decent chance that a company called ChexSystems knows about it. Classified as a consumer credit reporting agency, ChexSystems operates a database that member banks can use to report bounced checks and other activity it classifies as “suspicious.” On the record, ChexSystems is a tool that banks [...]
Welcome to this week’s edition of our Tuesday Top 5, Econ4U’s weekly tips post to help you manage your money in five easy steps. The secret to wealth building isn’t necessarily stock-market prescience or a brilliant business idea. Everyone starts somewhere, and it’s often just a small decision that snowballs to big rewards. Take one of [...]
The Wall Street Journal took a fascinating look this week at how new banking regulations that were designed to protect consumers may instead lead to more fees: Bank of America Corp. and other banks are preparing new fees on basic banking services as they try to replace revenue lost to regulatory rules, in a push that [...]
Welcome to this week’s edition of our Tuesday Top 5, Econ4U’s weekly tips post to help you manage your money in five easy steps. If you have a major purchase on the horizon — be it electronics, home furnishings, or a vehicle — now is the time to start considering your options to keep costs low [...]
Last summer, we touched on whether refusing to pay your debt at some point becomes a moral issue. In this week’s New York Times, the topic proves timely still. The article follows the Pemberton family in St. Petersburg, Fla., who have stopped paying their mortgage so they can put their money to more fun use, such as trips [...]
Welcome to this week’s edition of our Tuesday Top 5, Econ4U’s weekly tips post to help you manage your money in five easy steps. Student loans are intended to pay for your education, but I’ve known a few people who took liberties with exactly how they used that money. Here are some of the worst ways [...]
Welcome to this week’s edition of our Tuesday Top 5, Econ4U’s weekly tips post to help you manage your money in five easy steps. By now you know why a ship-shape credit score is in your best financial interests: It helps you qualify for the lowest interest rates on mortgages and other loans, saves you from [...]
April is not just tax season, it’s also Financial Literacy Month. So now is the perfect time to test your money knowledge on one of our 10 quizzes. Think you’re an expert on entrepreneurship? How savvy are you on saving? Can you cut it when it comes to credit cards? Or if you’re really up to [...]
Are you one of the millions of Americans plagued with credit card debt? At the end of 2008, Americans’ credit card balances totaled upwards of $970 billion, with an average debt per household of $8,329. Fox Business profiled seven individuals who learned from their own credit disasters and transformed their plastic practices. You can learn a [...]
February 26, 2010 – 3:38 pm
You may have noticed that different kinds of loans tend to have very different interest rates. For example, a typical 30-year mortgage today has an annual rate of about 6% (which is very low by historical standards). That might not seem like much, but 30 years is a very long time. Imagine you’re buying a [...]
Also posted in Mortgages, Personal Finance
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Tagged APR, Credit, financial advice, interest, interest rates, loans, managing money, Payday Lending, payday loan, tips
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