In a world where countless credit cards without annual fees exist, it might seem like a waste of money to have a credit card that charges you anywhere from $49-$500+ every year just for the benefit of having that card. Annual fees are not too popular among credit card issuers, as a 2017 survey of 100 credit cards found that just 24 charged annual fees (and 9 of those 24 reduce or waive the annual fee during the cardholder’s first year of use). I'm a huge fan of the American Express Platinum card and the perks it offers. Apply for an … [Read more...] about Are High Annual Fee Credit Cards Ever Worth It?
By now, you might’ve already heard about (or watched) Netflix’s wildly popular new show, Tidying Up with Marie Kondo. The show came about after Marie Kondo’s lifestyle routine called the “KonMari method” gained a huge online following, with many people reporting their lives were transformed for the better once they de-cluttered their homes, worked on their relationships and focused on things that genuinely “spark joy” in their lives. How to Tidying Up Your Finances like Marie Kondo Perhaps unsurprisingly, the KonMari method can easily be … [Read more...] about 5 Lessons for Tidying Up Your Finances We Can Learn from Marie Kondo
Can you believe the national average interest rate for savings accounts is just 0.09%? Yes, you read that right: 0.09% (not 0.9%). Leaving your money in a savings account is a terrible way to get decent returns on your investments when there are so many better (and higher paying) options available. Many of these alternatives also won’t charge you a dime to manage your savings account, something traditional banks still inexplicably do. If you’d like to start reaping the rewards of saving, then here are some alternatives you should ditch your … [Read more...] about Top 7 Excellent Alternatives to Low Interest Savings Accounts
The following is a gues post by Tiffany Wagner. If you'd like to contribute a guest post to Money Q&A, be sure to check out our guest posting guidelines. Your credit score sets the boundary between getting approved or declined for a loan or credit card. It determines your creditworthiness and interest rates. Lenders use your credit score as one of the critical deciding factors to let you borrow money to purchase a house or car, rent an apartment, or take out a school loan. The scores set by most lending platforms like Credit … [Read more...] about 7 Poor Financial Habits that Spoil Your Credit Score
Raising the minimum wage isn't always the best course of action for the American economy as a whole. The recent push to raise the minimum wage to $15 per hour has many negative effects that few people take into consideration. There are effects of raising the minimum wage. There are many negative effects of raising the minimum wage in the United States, in fact. Does the minimum wage need to increase? Maybe it does. Does it need to more than double, jumping to $15 per hour across the country? Probably not - I think that it’s a bad idea. There … [Read more...] about The Negative Effects of Raising Minimum Wage in America
If you were suddenly incapacitated or unable to make decisions on your own due to injury or illness, how would you continue managing your finances? This isn’t an easy situation to think or talk about, but it’s absolutely necessary for most adults to consider because you never know if/when it could happen to you and you should be prepared no matter how small the likelihood of it occurring may be. When an adult is incapable of managing their own finances – oftentimes due to dementia, brain injuries significantly impacting the individual’s … [Read more...] about What Is a Financial Power of Attorney and How Does It Work?