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Hispanolistic/GettyImages; Illustration by Hunter Newton/Bankrate Key takeaways Offered by many financial institutions, online bill pay is typically a free, secure service that enables consumers to make various types of payments electronically. Payments made via online bill pay can be made using a website or an app. Keep track of your…
Michigan car insurance laws state clearly that drivers in the Great Lake State must have a certain amount of car insurance to drive legally on public roads. Failure to do so can lead to fines and other penalties—and higher coverage rates down the line. Michigan is a no-fault state, which…
Key takeaways There are several ways to finance home renovations, including renovation mortgages, home equity loans and personal loans. Borrowing makes the most sense when repairs are urgent or when improvements will increase your home’s value. Compare loan options carefully, considering interest rates, fees and the amount of home equity…
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The nation’s 75 million Social Security recipients will receive a 2.8% cost of living adjustment (COLA) increase in their benefits…
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Credit: ©️ Allard Schager/Getty Images; Illustration by Issiah Davis/Bankrate Shopping for a home in Florida often means navigating a market of extremes, from modest homes in rural areas to multimillion-dollar mansions and high-rises in Miami. Overall, it’s a mixed picture for the housing market in…
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2. Coaching and Tutoring Take stock of your areas of expertise – maybe you speak a second language or solving math equations comes…
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These entrepreneurs, traders and investors are making an outsized impact in fintech, crypto and traditional financial services.By Jeff Kauflin, Hank Tucker and Nina…
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Images: Getty Images; Illustration: Bankrate Key takeaways A mortgage prequalification helps potential homebuyers know how big of a loan they might qualify for. Getting prequalified does not negatively affect your credit score — but getting preapproved does. While a prequalification is faster and easier to get than a preapproval, it’s…
Key takeaways Many lenders state their credit score requirements, helping you narrow down small business loans for bad credit Some loans focus less on your business credit history and more on future sales or revenue from invoices Offering assets or collateral can make you less risky and improve your chances…
Reaching age 65 doesn’t automatically change how the IRS taxes your 401(k) withdrawals. Instead, it taxes distributions from a traditional 401(k) as ordinary income, just like wages or Social Security benefits. Your tax rate depends on your total taxable income and filing status in the year you make the withdrawal,…
Key takeaways Built-in budgeting tools help automatically track and categorize spending without needing separate budgeting apps. Most major banks now offer some form of automated expense tracking, making budgeting more accessible than ever. Your bank may offer advanced personal finance hubs, providing insights into spending habits, tracking savings progress, and…
Many businesses, even those that are profitable and well-run, might occasionally need to carry debt. Balance transfer credit cards can help you consolidate high-interest debt and work on paying it off over time at a lower or 0 percent APR. But be warned, balance transfer offers on business credit cards…
When your financial life involves more than one country, taxes can get complex. This is true for expats, dual citizens, digital nomads and business owners with activity abroad. A cross-border tax accountant can help you handle international filing rules and reporting obligations. They work with issues like double taxation, foreign…
For high-income earners, balancing a demanding career with the rising costs of childcare can quickly become a financial juggling act. Even families earning six figures can find that daycare, nannies or after-school programs absorb a surprising portion of their budget. That’s where a Dependent Care Flexible Spending Account (FSA) comes…
Hinterhaus Productions/ Getty Images; Illustration by Austin Courregé/Bankrate Key takeaways Secured lines of credit require collateral. Unsecured business lines of credit do not require collateral, but a personal guarantee may be needed. Consider business needs, qualifications, credit score and assets when choosing a line of credit. According to the 2024…
damircudic/Getty Images; Illustration by Richard Tran/Bankrate Keeping track of average personal loan rates can give you an idea of how much you’ll pay for a personal loan for debt consolidation, home improvement, emergencies or any other financial goal that requires quick funding with a fixed monthly payment. The average is…
Debt is often discussed in negative terms, but debt isn’t just good or bad. It falls on a spectrum, and how you manage it plays a big role in how it impacts your finances. Bad debt is usually high-interest credit cards that quickly accrue interest if you only make minimum…
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