How Do Credit Cards Work?

Credit cards were created out of a situation that many have previously encountered. Frank McNamara was out taking a couple colleagues out for dinner in 1949 and, when he went to pay, to his dismay found that he had no cash in his wallet. After an embarrassing display that involved calling his wife to deliver funds to him, he came …

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Getting Out of Debt: Slash Your Monthly Budget

If you are currently deep in debt, and unable to significantly increase your income to help pay off your debt, you may want to consider chopping away on the other side of debt freedom equation – your monthly expenses. The only way to free up more cash to put towards debt is to increase your income or reduce your spending. …

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Selecting the Best Personal Bank Account

Most banking institutions offer a wide range of personal account products, and deciding which one is most appropriate can be a challenge. Personal bank accounts generally fall into one of the following categories: Checking accounts Savings accounts Money market accounts Certificates of Deposits (CDs) Knowing the distinctions among these account types can be highly valuable when comparison shopping for the …

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What Do I Need to Buy a Home

Many first time home buyers ask themselves – what do I need to buy a home, and how do I qualify for a mortgage?  Few people have enough money to purchase a house outright and must finance the remainder of the purchase in what is known as a “mortgage.” Personally, I find mortgages to be a necessary evil, but I …

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How to Close a Bank Account

Is it time to bid your bank farewell? Perhaps, like millions of Americans, you’re irked by major banks’ new fees. Maybe you’re moving away or changing your marital status. In any case, you’ll find that closing accounts isn’t quite as simple as opening them. Here are a few tips to help make sure nothing’s overlooked when it’s time to close …

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