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Credit cards can increase your purchasing power, but how many credit cards are too many? There are both pros and cons of having multiple cards.
Continue ReadingThe Internal Revenue Code contains more than 9,800 sections of tax law1, which may be why most Americans opt for the low-hassle standard deduction when it’s time to file. Although it’s more time consuming on the front end to itemize your tax deductions, you may be better off if you have high value deductions that you’re eligible to claim. Here are a few things to know about filing federal taxes – and how credit cards can help you prepare them – before writing a check to Uncle Sam.
Ancient Greek playwright Sophocles wrote, “Wisdom outweighs any wealth.” While this statement certainly rings true, it’s also true that wisdom can play a major role in achieving wealth—particularly when it comes to effectively managing your finances and credit.
Household credit card debt rose by $38 billion in the third quarter of 2022, reaching $0.93 trillion—which represents a 15% year-over-year increase of $121 billion—according to the Federal Reserve Bank of New York. Almost 3.7% of those credit card balances are now seriously delinquent, which means 90 days or longer past due.
Whether you’re opening your first bank account or you’ve had several before, it’s good to know what you need to take to the bank (or your computer) before starting the process. Several official documents are usually required—like official ID and proof of residence—as well as an initial amount of money to deposit.
This material is for informational purposes only and is not intended to replace the advice of a qualified tax advisor, attorney or financial advisor. Readers should consult with their own tax advisor, attorney or financial advisor with regard to their personal situations.