BANKING

Planning to travel in 2024? You’re not alone. According to the U.S Travel Association, a trade group, travel has bounced back after the pandemic, with Americans forecasted to spend a staggering $1.09 trillion on domestic and international travel this year. This surge, however, comes with its challenges, as travel costs have soared to unprecedented heights, fueled by increased demand and price inflation. In this era of heightened travel expenses, safeguarding your journey is paramount. Enter travel insurance, a crucial shield against the uncertainties that may arise during your adventures. To help …

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‌Empower is a financial services company offering retirement plans and comprehensive wealth management to both individuals and organizations. Launched in 2014—but with Canadian roots dating back to 1891—Empower is currently the second-largest retirement plan provider in the country, with more than 17 million customers. In 2020 Empower acquired Personal Capital, a popular investment robo-advisory platform, bringing together one of the top digital personal wealth management platforms with its own retirement plan services and integrated financial tools. Empower Financial Advisor Assets under Management $1.3 trillion Accounts offered Empower Personal Cash, budgeting tool, …

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A bank is a financial institution that allows customers to deposit money, take out loans, and perform other financial transactions. Most people have a checking and savings account, although banks offer many other financial products designed to help you keep your money safe and earn interest on your savings. How does the banking industry work? The banking industry offers consumers a safe way to store their money and potentially earn interest on their funds. When customers deposit money in checking or savings accounts, banks can use these funds to make loans …

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With Federal Deposit Insurance Corporation (FDIC) insurance, the money you keep in your bank accounts is protected by the federal government if your bank fails. When a bank or financial institution is federally insured, it will have the FDIC insurance logo on its website. The FDIC insures up to $250,000 per depositor, per institution, per ownership category, and FDIC insurance covers several types of deposit accounts and other official items, such as cashier’s checks and money orders. How does FDIC insurance work? The FDIC protects the money that depositors put in …

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Payday loans are a type of short-term loan. The loans, which are for small amounts, often $500 or less, are designed to be paid back when you get your next paycheck. While they evolved from criminal “salary lending” practices in the early 20th century, these loans really took off in the 1990s, when there were few small loan lenders. The shortage is sometimes blamed on banking deregulation in the 1970s and 1980s, especially the proliferation of state exemptions from “usury caps,” which had limited the maximum annual percentage rate (APR) for …

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No one feels like reading the fine print on a car insurance policy, which is why the car insurance declaration page exists. It summarizes the key features of your policy—call it the quick and easy version of your car insurance policy. What does a car insurance declaration page contain? A car insurance declaration page (also known as a “dec” page) consists of the following: Policy information. Includes the policy number, effective date, expiration date, and your agent’s name and contact information (if you have one). Personal information. Includes the names of …

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If cash back rewards are at the top of your priority list for credit cards, the card_name and the Citi Double Cash® Card are worth a look. You don’t have to pay an annual fee with either card, and both come with attractive introductory APR offers. Still, card_name comes out on top due to its earning potential. Plus, it offers a generous welcome bonus you won’t get with the Citi Double Cash® Card. How the cards stack up Here’s a quick look at what each card offers: Welcome bonus Whilst Citi …

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A $50,000 windfall from an inheritance, a hefty bonus, or winnings of some sort can be an excellent opportunity to start securing your financial future. Of course, not all investment options are equal. The best way to invest $50K depends on your time horizon, risk tolerance, and financial goals. What to know before you invest $50K Before you decide where to invest your $50K, consider your current financial situation. For example, putting all of the money in the best CD account doesn’t make sense if you have tens of thousands of …

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Adults know that one of the best ways to build wealth and to save for future goals, such as retirement or a home down payment, is to invest. This can also be true for children. There are a number of different types of brokerage accounts that can be opened for a child that can help them save for their future. The right type of account for your child will usually be determined by your circumstances and what you are trying to accomplish. Here are some tips on opening a brokerage account …

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There are a variety of reasons to refinance your auto loan. Perhaps you took out your previous loan with a subpar credit score and have since cultivated a score capable of netting significantly more favorable interest rates. Maybe you’d like to lower your monthly payments by extending the term of your loan or would like to borrow some of your car’s equity for an emergency home repair. Whatever the reason, it can be time-consuming and daunting to sift through the seemingly endless possibilities to find the best auto refinance lender for …

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