Posts

Many factors determine how much you’ll pay for auto insurance. But will buying a red automobile leave you seeing red when you get your insurance bill? What Factors Do Insurers Consider? There’s not much research to support the theory about red cars hiking owners’ insurance premiums or causing them to get pulled over more by law enforcement, and what we did find suggests it’s not necessarily true. Insurance companies apply a lot of factors to determine your auto insurance rate, but your car’s color isn’t one of the considerations....

Business Credibility Having a business bank account provides your new business with credibility (with both customers and potential creditors) which is especially important when you’re starting a business. If some of your customers use checks to pay your invoices it is much more professional in appearance to have them writing checks to “Acme Corp” rather than to “John Smith”. It also looks better as you pay your business invoices with separate business checks or a separate business credit card....

The deal was an important component of President Trump’s economic plan. He wanted to lower the trade deficit between the United States and Mexico. In 2019, Americans bought nearly $100 million more imports from Mexico than vice versa. The trade deficit with Canada was smaller in 2019 at just under $26 million. The new agreement was a renegotiation of the North American Free Trade Agreement (NAFTA). NAFTA aimed to make North America more competitive in the global marketplace....

Fortunately, there are easy ways to slim down your budget so you can pocket a little cash, whether you’re looking to spend it on a vacation or invest it for retirement. Let’s take a look at some tips for how to lower your bills. Eat at Home In 2019, the average household spent $3,526 per year dining out, as well as $4,643 on groceries. In total, food spending made up 12....

A bank’s efficiency ratio allows you to calculate how profitable a bank is. That provides insight into the institution’s financial stability. Learn how to calculate a bank’s efficiency ratio and what that means for your bank’s financial strength. What Is a Bank Efficiency Ratio? An efficiency ratio is a calculation that illustrates a bank’s profitability. To calculate the efficiency ratio, divide a bank’s expenses by net revenues. The value of the net revenue is found by subtracting a bank’s loan loss provision from its operating income....

To start, you’ll need to figure out the amount of money you expect to spend each month after you retire. This figure will help you build the rest of your plan. If you want to spend more in retirement, you’ll need to have more money saved. The age you want to retire will also have a big impact on how much money you’ll need. If you want to retire early, you’ll need far more saved than someone who plans on working longer....

Exchange Traded Funds Exchange-traded funds (ETFs) can be traded throughout the day, so you might see your ETF value fluctuating while trading is going on. When you buy an ETF, you’re buying it at the current market price. You can buy one or as many shares as you can afford at the current price. ETFs typically have lower expense ratios than most mutual funds. In theory, this can provide a slight edge in returns over index funds for the investor....

If you’re new to cryptocurrency, you may be interested in learning more about Ether. We’ll take a look here at what ether is and how ETH works. What Is Ether? Ether is the digital currency native to the ethereum blockchain. Ether is required to pay fees for processing transactions on the ethereum network, and Ether owners can use their ETH to make purchases from any merchant that accepts the digital currency....

On Tuesday, President Joe Biden’s administration outlined its proposal to overhaul income-driven repayment (IDR) plans. The series of changes to the federal REPAYE program are set to take effect later in the year and would make the program the best option for the vast majority of borrowers. Borrowers currently have four different IDR plans to choose from and the proposal could significantly reduce the financial burden they face by lowering payments and offering forgiveness options....

The United States-Mexico-Canada Agreement has been ratified by each country’s legislature. Mexico ratified the USMCA in 2019. The United States ratified the agreement on Jan. 29, 2020. Canada ratified it on March 13, 2020. The new deal changes NAFTA in six areas. The most notable impact is that auto companies must manufacture at least 75% of the car’s components in Canada, Mexico, or the United States—up from 62.5%. In addition, at least 30% of the car must be made by workers earning at least $16 an hour (that’s three times what the average Mexican autoworker currently makes)....

As many expected, the central bank raised its benchmark interest rate by 0.75 percentage points to a target range of 1.50% to 1.75%. While that’s still relatively low historically speaking (it was that low just before the pandemic in 2020,) it’s the biggest single rate hike since 1994. The unusually sharp increase shows how behind the Fed feels in the fight against inflation, which is now running at 8.6%, its worst annual pace since 1981....

Unfortunately, money to pay for any college is becoming harder to find, even as college costs increase at a rapid pace. It can help to understand all the various programs out there, the requirements for each, and how to apply for aid. Community Colleges and Junior Colleges These learning institutions aren’t quite the same thing, but they’re similar. Both offer two-year associate degrees, and some offer certificate programs. They can provide an affordable way to begin college; then, you can often transfer your earned credits to a four-year school if you want to pursue a bachelor’s degree....

Pheelings Media / Getty Images The Federal Trade Commission said Monday it is distributing $172 million—or an average of $85 for each customer—after suing and settling with Progressive Leasing, a company that sold things like furniture, jewelry, and cellphones on rent-to-own plans at major retailers. While the company advertised “no interest” and “same as cash” prices, customers often unwittingly paid twice the items’ sticker prices even though they made all their scheduled payments, the FTC said in a lawsuit against the company filed in 2020 and settled the same day....

It depends on numerous factors, from the market to whether you think you’ll need a little guidance and hand-holding and whether you have a firm understanding of the differences between these types of brokerages. What’s in a Name? Definitions A full-service real estate brokerage is pretty self-explanatory. It does it all, from taking the listing to marketing the property and handling the details of closing. You’ll have access to your agent in times of confusion or if problems pop up, as well as to managers and support staff....

Both are sold to raise money for income-producing projects, such as toll roads, bridges, or parks. The key difference is the source of the revenue used to make the bond’s interest and principal payments. Here’s what you need to know if you’re thinking of investing in this type of bond. What Are General Obligation Bonds? General obligation bonds are also referred to as GOs. They’re bonds that are backed by the “full faith and credit” of the issuer, with no project cited as the source of funds with which to repay the bond obligation....

The U.S. Department of Housing and Urban Development (HUD) offers such a deal if you qualify. It’s called the Good Neighbor Next Door Sales Program, and it’s designed to encourage members of certain professions to move into and put down roots in particular areas. If you’re a teacher, law enforcement officer, emergency medical technician, or firefighter, you might be eligible to participate. Here’s what you need to know. What Is the Good Neighbor Next Door Program?...

The Bureau of Economic Analysis measures the gross domestic product (GDP) that defines recessions. The Bureau of Labor Statistics reports on the unemployment rate. Unemployment often peaks after a recession ends because it is a lagging economic indicator. Most employers wait until they are sure the economy is back on its feet again before hiring permanent employees. There have been 19 noteworthy recessions throughout U.S. history. Earlier Major Recessions The hallmark of these four early recessions is that the federal government could do little to stop them....

Home prices in June had risen 18% over 12 months, according to the S&P CoreLogic Case-Shiller Home Price Index released Tuesday. While that’s quite high, historically speaking, the second month of slowdowns has brought it a bit below the record highs seen just a few months earlier. As shown in the chart below, prices are definitely headed in a more homebuyer-friendly direction these days. The report adds to evidence that the real estate market, high-flying during the pandemic, has been dragged down by a combination of factors including rampant inflation, mortgage interest rates that have risen in recent months, and the sheer fact that prices have gotten so high that many house hunters are being priced out of the market....

Types of Homeowners Policies Most policies cover losses against fire, storm damage, and other named perils. Depending on your coverage, your policy pays for repairs, loss of use, liability claims, medical payments, and more. Types of policies can cover different types of losses, including basic, broad, and special (all-perils) coverage. These will pay actual cash value to replace your home and possessions minus ​depreciation, referred to as replacement cost value. This is the actual cost of replacing your home or belongings up to your policy limit less depreciation....

Your credit card issuer will charge interest whenever you carry a balance beyond the grace period. Credit card interest isn’t a one-time thing either. Each month you carry a balance over from the previous month, you’ll have a finance charge added to your balance. When You’re Charged Credit Card Interest You’ll be charged interest whenever you don’t pay the full balance from the previous billing cycle. For example, if your credit card statement balance is $1,000, you’ll have to pay the full $1,000 to avoid being charged interest....