MoneyRates.com Archives

Take These Steps to Recover Financially From a Hurricane

Rebecca Lake

A hurricane can be disruptive to your finances in several ways. Learn some of the most helpful steps to take in recovering financially from a hurricane or another natural disaster.

Why You Still Need a Checking Account

Richard Barrington

Do you think you are past needing a checking account? Find out more about the advantages of a checking account before you ditch yours in favor of newer payment systems.

Six Months To Christmas - How to Save Money to Avoid Holiday Debt

Richard Barrington

Tired of the cycle of debt that follows the holidays every year? See why now, six months before Christmas, is the best time to break that cycle.

Retirement for Millions Impacted by Opioids

Richard Barrington

Think the opioid crisis is just a healthcare problem? Read about the lasting financial consequences that can also result from opioid addiction.

Plan to Work Longer? Check with Your Employer

Richard Barrington

Think working longer is the solution to falling behind on your retirement saving? While this plan has merit in theory, you may find headwinds that prevent you from being able to work beyond normal retirement age.

The Latest MoneyRates.com Update on Bank Fees

Richard Barrington

Are you paying too much for your checking account? Here's the latest data on fees and some simple tips for cutting hundreds off your checking account fees each year.

Best Rates for Savings & Deposits in the U.S. - 2nd Quarter, 2019

Richard Barrington

Could your money work harder for you? In most cases, the answer is yes - especially if it's in one of the best 1 year CDs. Our latest study shows where to find the best 1 year CD rates, best 5 year CD rates, as well as the top savings and money market accounts, which are all well above average rates.

Best Cities for Young Entrepreneurs 2019

Richard Barrington

Are you young and ready to start a business? The best cities for startups have certain characteristics which can support new businesses in a number of ways. If you're trying to get a business off the ground, consider the top eleven cities ranked as the best places for millennials to start a business in 2019.

5 Common Events Leading to Money Troubles: What to Do

Richard Barrington

Think there's something unusual about people with money problems? Read an expert's thought on 5 common life events that could result in serious credit problems for millions of Americans.

Best Places for Downsizing in Retirement

Richard Barrington

Does it make economic sense for you to downsize? A look at the 10 best places for downsizing in retirement provides some insights into what factors make the economic case for downsizing.

Should I Move My CDs into an IRA?

Richard Barrington

Thinking of setting up an IRA? Learn how to choose between a Roth IRA and a traditional IRA and how to invest for long-term retirement savings.

How Much Retirement Savings Should an 83-Year-Old Have?

Richard Barrington

How do you know you have enough money for the remainder of your retirement? A comparison of net expenses with retirement savings and other resources can help you find the answer.

How Long can I Keep Money in a Traditional IRA?

Richard Barrington

How long can you keep money in a traditional IRA? While you are required to start taking out some of your remaining balance each year beginning at age 70.5, you are never required to take out all of your remaining balance.

Can I Contribute RMDs to a Roth IRA?

Richard Barrington

Looking to limit your taxes once you start taking retirement plan RMDs? The strategy of contributing some of that money to a Roth IRA has significant limits, but it does also have some benefit.

Lump Sum Distribution vs. Monthly Pension Income

Richard Barrington

How would you choose between monthly pension income and a lump-sum distribution? A present value calculation can give you part of the answer, but there are still some judgements to be made based on your situation.

6 financial moves to prevent sleepless nights

Richard Barrington

Financial worries are a common source of nighttime anxiety, but these problems are best addressed in the light of day.

9 questions to ask before taking on debt

Richard Barrington

Getting into debt can be too easy at times, but asking some challenging questions can help you avoid taking on debt that isn't worthwhile.

Avoid 4 debt consolidation risks

Richard Barrington

Debt consolidation can be either a useful tool or a costly mistake. It helps to understand your goals and how to best pursue them.

Using zero percent credit cards to pay off student loans

Richard Barrington

Transferring student loan balances to zero percent credit cards is not as straightforward as it may look; see what you should know before trying this strategy.

How to responsibly handle easier access to credit cards

Richard Barrington

Easing credit standards mean consumers have to take responsibility for not overusing access to credit.

2019 Outlook - 6 factors affecting savings & money market rates

Richard Barrington

Do you have money in a savings or money market account? These six trends could impact your money in 2019, but here's how you can protect your assets and profit during this changing environment.

Batter up! 9 'players' for your investment line-up

Richard Barrington

Want a portfolio that will perform from its opening day? Then consider incorporating these key elements.

Home-field advantage: 7 reasons to favor US stocks

Richard Barrington

International investing can be a good thing, but there are also valid reasons for maintaining a heavier weighting toward U.S.-based stocks.

7 straightforward rules for asset allocation

Richard Barrington

Asset allocation is a tricky decision and one you can't avoid, so it's wise to be well-informed on the topic.

Shareholder rights: Are you a shark, lion or sheep?

Richard Barrington

Passive investors should take a cue from Wall Street's sharks and lions in recognizing the impact corporate governance can have on share value.

What's Better for Your Savings, Interest Compounded Daily or Monthly?

What's the difference between monthly compounding and daily compounding for your savings accounts - and does it matter? How can you decipher what banks offer on their savings products?

Flip the Script: Raise Your Savings Account Rates As Most Rates Fall

Richard Barrington

Do fed-rate cuts mean your savings will earn less interest? While rates generally may be falling, chances are you could take this opportunity to raise your rates.

How Much Cash Should I Keep in Savings Account

Richard Barrington

Can you have too much money in a savings account? It might seem like a nice problem to have, but bank rate tiers and FDIC insurance limits may mean you should avoid keeping too much in any one account or at any one bank.

How to Avoid Savings Withdrawal Fees

Richard Barrington

Should you have to pay just to access money in your savings account? Banks charge fees for certain transfers, but these fees can be easily avoided if you know how.

Best Savings Accounts for Kids 2019

Richard Barrington

What is the best savings account for your child? It's the same type of account you would want for yourself. Learn how to teach your child about saving and choosing a good savings account.

No Penalty CD: How does it work

Richard Barrington

Would you like the yield of a CD without the commitment? Find out how no-penalty CDs can give you the yield benefit of owning a CD without having to lock your money up for the full term of the CD.

Variable-rate CD: 4 pitfalls

Richard Barrington

Variable-rate CDs can offer savers some intriguing options, but not always at a favorable price.

How Do CDs Work? Learn how to save taxes on CD's

Richard Barrington

CDs are safe instruments for earning interest, but their tax treatment can create a cash crunch. Here's how to plan ahead so you aren't caught short of money at tax time.

5 Moves to Optimize Your CD Ladder

Richard Barrington

CD ladders can help you manage yield and liquidity. Here's how to tailor them to meet your specific circumstances and capture the highest interest rates available.

Using CDs for college savings

Richard Barrington

Understand how you can use certificates of deposits to build your college savings.

7 Big Financial Changes that Call for Adjusting Your Mortgage

Richard Barrington

Refinancing is not just about capturing falling interest rates. It can also be a way of optimizing your mortgage loan to fit a change in circumstances.

9 must-know things about your mortgage loan

Richard Barrington

The benefit or burden of any mortgage is largely dependent on these 9 details.

Buying a home: 7 tips for making your biggest investment decision

Richard Barrington

Lack of experience is an inherent problem for first-time home buyers, but some sound investment thinking can help you overcome that problem.

Amid historically low rates, is real estate a good investment?

Richard Barrington

Recent declines in mortgage rates may generate enthusiasm for real estate investments, but there are reasons to be skeptical of this.

When it makes sense to bet the house

Richard Barrington

Shifting your debt burden into a mortgage can save you money, but it can also put your home at risk. Learn when this approach makes sense.

Checking vs. Savings Accounts: What's the Difference?

What's the difference between checking and savings accounts? Find out how each impacts the accessibility, security and earning power of your bank account, and how to find the right fit for your needs.

Better ways to find the best checking account

Richard Barrington

Changes in banking habits have made location less of an issue since the 1990s, while rising fees have made cost more significant. Isn't it time to change what you look for in a checking account?

Best checking accounts for 2018

We ranked the best checking accounts for 2018 on the basis of monthly maintenance fees, overdraft fees, and low minimum opening deposit. Here are the top ten free checking accounts to be found in 2018.

Finding a second-chance checking account

Having to work outside the banking system can be expensive and inconvenient. Unfortunately, this can easily happen to people whose accounts are closed by their banks because of chronic misuse of the account.

If this has happened to you, the good news is that there is a way to get back into the banking system. It's called second-chance checking, and finding the right second-chance checking account can be the first step toward re-establishing your access to the full range of bank services.

The Cost of Sloppy Banking Habits

Richard Barrington

Sloppy banking habits could easily cost consumers more than $700 per year, but they are easy to fix. Here's how to profit by staying on top of your finances.

Facing the enemy: 5 ways to prepare for tax season

Richard Barrington

They started arriving in your mailbox last month. No, not early Valentine's cards, but the little reminders of the grim task ahead: tax preparation.