Best Time to Buy a New or Used Car
While research can identify and pretty much pinpoint the best time to buy a car, there are a number of factors that you should consider before you head to the dealership. The main thing you have to determine is if you are financially in a good position to purchase a car either with cash or…
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The Pros and Cons of Credit Card Consolidation
You may be asking yourself “Are those credit card balance transfers really worth the fees?” A lot of people use multiple credit cards for purchases and then end up needing to consolidate that debt to reduce paying higher interest rates, but is that really the best way to consolidate that higher interest debt? How do…
5 Financial Steps to Take During the Covid-19 Pandemic
There is no doubt that the Covid-19 pandemic has been stressful and overwhelming for most people. It has taken quite a bit for all of us to adjust to the behavioral changes. Dealing with financial matters has proven to be challenging, as more people resort to online shopping for supplies, ordering take out and conducting…
Test Your Financial Literacy
Test Your Financial Literacy with our 9 Question Quiz! A recent study conducted by the Global Financial Literacy Excellence Center at the George Washington University, found that only 16% of millennials were considered to be financially literate. This trend is troubling because so many Americans have outstanding debt, including 43% of millennials that are struggling…
The Benefits of Direct Deposit
Direct deposit is generally referenced as the electronic transfer of money owed to you or being paid to you directly into your bank or credit union account. Direct deposit is most often used for your reoccurring paycheck from your employer, but it can also be used by other depositors such as Social Security, retirement plan…
What does EFT and ACH Transactions Actually Mean?
ACH and EFT are terms used in banking to describe the electronic or digital movement of money. So let’s start with the basics: ACH stands for Automated Clearing House and is basically the process of moving funds from one bank to another. EFT stands for Electronic Funds Transfer and is used to describe virtually all…
What are the Differences between a Cashier’s Check and a Certified Check?
You may be wondering what is the safest way to handle a situation where you are selling or buying something of substantial value and the only way to pay or be paid is by check. For example, you might be buying or selling furniture through Craigslist, or buying or selling a car to someone you…
What does available balance versus current balance actually mean?
Do you ever wonder why your account balance online shows an amount different than what you think it should be, or you see different balances as “actual” and “available”? Simply stated, your “available balance” is the amount of money in your account to which you have immediate access. Your available balance will be different from…
What is a Credit Union?
Credit unions and banks have many similarities and differences. While they are both financial service institutions, one of the biggest differences is that credit unions are non-profit cooperatives and banks are for-profit companies. But, as fees for financial services continue to rise and lending rates continue to fluctuate, many people are searching for the best…