What Is Velocity Banking?

Can you save money with velocity banking? In theory, this strategy allows you to lower your mortgage payments while also paying off faster. In reality, there are more expenses going on that ipan theory, so this method doesn’t always work. But that doesn’t mean it’s not worth considering. What Is Velocity Banking? What’s the best way you know to pay a traditional 30-year mortgage? Most take the traditional road. Pay your bills every month and wait until the last year …

The purpose of a joint account will vary from person to person: Joint accounts serve all these purposes. You’re essentially selling rights and responsibilities with another person. It simplifies finance, makes it easier to track expenses, and saves time. What is Joint Credit? Say you want to buy a house, but your score is far from perfect. Your wife, however, has a hundred points more than you. Not only would she qualify for a mortgage, but also get lower rates. …

If you apply to a credit company, they may require you to provide some proof of income. In other words, they want to know what kind of accessible income you have available. But what does that really mean? Well, the law requires these companies to verify how much money you’re making. This way, it protects businesses from taking advantage of customers. It also makes sure you don’t pay more than what you can afford, so it protects you against debt. …

There’s no doubt that high education can be expensive. Let’s not even get into technical careers, such as lawyers, doctors, and engineers. Sure, those jobs can potentially earn you six-plus figures a year. But there are some problems with it: Imagine how stressful that has to be. You can barely keep up with your exams, yet they think you can make money out of thin air. And if a job is your best hope, that’s still 5+ years you’re going …

Bank transfers can be convenient for moving large sums internationally. And because time is money, money received today is worth more than the same amount received tomorrow. That’s why some transfers give you a paid option to complete domestic transfers instantly. When sending between countries, however, there are many factors your bank doesn’t control. If your payee expects to receive the money by a certain date, make sure to wire money a few days before. All transfers take 1-7 business …

Moving money from one bank to another is expensive. Is there any way we can lower those fees while keeping high security? That service is called Transferwise, and it seems to deliver on that promise. But this isn’t your typical transfer service. It uses a different method to send money to other accounts so that you barely pay anything. All you need to do is open and fund your account. Next, you choose where you want to send that money. …

Are you in need of money? Who isn’t? We all have different reasons to earn. But one sure thing is, money earned today is more valuable than getting money tomorrow. That’s why lenders add interest to any amount you borrow. But it’s not just to minimize risk. Money can solve problems fast. It can also accelerate your financial wealth, so you don’t have to waste saving dollars for months. If you’re already making money or have a great financial history, …

With your average credit card, credit is the main benefit. You can borrow money to meet payments, but you need to return it within 30 days to prevent late fees. However, you might still pay interest for that at the end of the year. So you’re paying to use that card. Missed payments can hurt your credit score, which means you have to pay more for credit. But that’s not all. Businesses pay a protection fee whenever you pay with …

What You Should Know Before The Big Purchase

Life is a lot easier with good credit. Banks lend you money, lenders offer better rates, and you qualify for many programs. But what if that’s not you? Does it mean you’re cursed financially for years? That doesn’t have to be the reality. There are obvious benefits of having a high score. But a bad one should neither close you to opportunities. As soon as you start treating money the right way, you can start getting loans, buying houses, and …

What’s The Difference Between a Checking And Savings Account?

How you use your money affects your financial future. The better habits you have, the more you will make. You may agree that it’s not enough to just “earn more.” You also need to know how to use it wisely, to invest it. Because money is useless until you give it a use, you should always put those dollars to work for you. That doesn’t mean you have to be broke all the time. It’s not smart to spend everything …

How to Send Money Online: Limits, Fees, Speed, Refunds & Risks

When moving money, we expect payments to be frictionless. Whether you send or receive funds, paying should be the easiest part of the process. At least, it still is when paying with cash. With online payments, not so much. Sure, there are free ways to move money fast. But are they reliable? It may sound shocking the first time you hear it. But on the Internet, you pay to process payments the same way you do for any service you …

Is Debt Settlement Worth It?

DEBT. Dreaded word. You get money for the now, but end up paying more later. And the longer you miss payments, the more it costs you. If you can’t keep up with the current payments, what makes you think you’ll be able to handle more debt? You used that money to pay for something years ago. It may be college, a house, a car. Imagine yourself 20, 30, 40 years later, still paying for a buying decision you made in …

There are many ways to pay online, but almost all of them incur some costs. Wire transfers cost $15-$50. Checks and money orders cost money. Even good-old cash isn’t free. Mailing it will cost you. If they lose it, you pay for the replacement. And even if nothing goes wrong, it’s still slow. Too slow to even protect against inflation. Then there are 3rd-party providers. You can use Venmo or Paypal to “send money anywhere you want for free” as …

You’re looking to buy a house. But how do you make sure it’s the right one for you? What if your dream home is out of your current budget? Should you limit your choices with the money you have? Who pays for a house in cash anyway? Unless you can afford it, it makes more sense to pay for it while you’re living there. With a mortgage loan, you can buy more than what you can afford. Or at least …

Some ATMs accept cash deposits and charge nothing. If you have too much of it, that excess money will be safer in your bank account. Rather than going to any location, ask your branch for “deposit enabled” ATMs. These will accept cash, nowadays usually without envelopes. The same machines might accept bank checks. Whether you should do it or not is a different story. Why use ATMs when you can ask the bank employee to do it? Should You Deposit …

Why Should You Make an Offer for Your House

Whether you’re buying commercial properties or looking for your dream house, there will be trade-offs. Everybody loves great deals. You want to buy it for low. But the seller wants to sell it for as much as you can afford. Is it possible to reach a win-win situation? Not always. Depending on your expectations and who’s selling the house, you may or may not get to an agreement. Depending on your case, getting a bridge loan might help getting closer …

The only way to succeed in business is to assume responsibility for everything. Problems are always coming, and the unexpected is inevitable regardless of preparation. Rather than frustrating with those losses, ask yourself how you can prevent it from happening again. You’ll find that you could have avoided the most expensive mistakes with a bit of preparation. The customers don’t like the product. Spend more time researching the market. Your traffic doesn’t convert. Learn where your ideal customer spends time …

How do you buy a house? The question may sound obvious and complicated at the same time. The way you buy a house may save you thousands of dollars buying the same property. Why pay more than what you have to? Why invest too much today when you could use it to invest money somewhere else? Most people see their dream home as the biggest investment of their lives. Whether it’s profitable or not is debatable, but who wants to …

How To Take Control Of Your Finances TODAY

New day, same money problems. Something is not right. Here’s what probably happened. You had the urgent need for something you didn’t have yet. So you borrow money, confident that you’ll be able to pay back. Perhaps you’re taking loans for college, investment, or a business opportunity. Since these goals help you to make more money, it makes sense to get them now. Then, somewhere in between, unexpected expenses started to appear. Imagine budgeting and planning everything correctly, pre-spending every …

Moving to a new place is easier said than done. What do you do when you haven’t found your dream home yet? And where do you stay once you sell the first one? Do you even know when that ideal client will appear and buy it? What Is A Bridge Loan? Although not a preferred option, bridge loans may be the solution. These agreements allow you to fund your home purchase with the future sale of your property. Private companies …

What Is Velocity Banking?

What Is Joint Credit?

What Is Accessible Income?

Income Based Repayment Disadvantages and Advantages

How Long Does It Take to Transfer Money Between Banks?

Is Transferwise Safe?

Types Of Loans: Which Is The Right One For You?

Types Of Credit Cards

How to Buy a House With Bad Credit?

What’s The Difference Between a Checking And Savings Account?

How to Send Money Online: Limits, Fees, Speed, Refunds & Risks

Is Debt Settlement Worth It?

How To Set Up Direct Deposits?

Types Of Mortgage Loans: 7 Ways To Afford A House

How Do You Deposit Cash at an Atm?

How to Make an Offer for a House and WIN

What Is Commercial General Liability Insurance (CGL)?

How to Save For a House

How To Get Out Of Debt

Buy Before You Sell: What Is A Bridge Loan?