Hey. Do you know the difference between a credit card and a debit card?
When you use a credit card, it basically means you’re taking a loan from your bank. If you pay the full amount each month on time, there is no extra cost. But if you only pay part of the balance, it can get very expensive. You’ll be charged interest, and if you’re late, there could be penalties as well.
Hey! If you haven’t started using online or mobile banking yet, here are some things you should know:
Number 1: It’s simple, flexible, and convenient. You can access your bank information, transfer money, and make payments whenever and wherever you have an internet connection.
Number 2: It’s secure. It may even be more secure than carrying around credit or debit cards, which can be stolen or compromised. Make sure to password-protect your phone and log out of all financial apps after using, ...
Hey! How can a snowball help you become debt-free?
If you’re using credit cards to finance your way of life and not paying off the balance each month, you’re probably paying a lot in interest and penalties.
For instance, paying the $25 minimum on a $1,000 balance will take over four years to pay off and could cost you over $300 in interest alone. So it’s in your best interest to pay that balance off as quickly as possible.
Trying to figure out which financial habits to focus on with your family may feel overwhelming. One way to think about such a big topic is by breaking these habits into four easy-to-understand main categories.
First is understanding how money is earned in a household, a key to many financial conversations.
Second is borrowing and understanding debt, repayments, and how this contributes to financial health.
Third is spending and saving, the concept of putting aside money to make purchases.