Buying a home is the single largest financial commitment most people ever make. And sorting through mortgages involves a lot of critical choices. One of these is choosing between a fixed- or variable-interest-rate mortgage. True to its name, fixed-rate mortgage interest is fixed throughout the life of the loan. In contrast, the interest rate on […]
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‘Lifestyle’ Category
Almost half of American households carry a balance on their credit cards, and the average debt totals $15,263.¹ Fast Fact: Credit Inquiries. Your FICO score won’t drop by much when you apply for new credit. But if you apply for several new credit cards over a short period, your credit report will reflect the activity. […]
Fast Fact: Get Over It. A bad credit score doesn’t last forever. Since your credit score is a “snapshot” of your risk at a particular point in time, it changes as new information is added to your bank and credit bureau files. Scores change gradually as you change the way you handle credit. Your credit […]
“If the current annual inflation rate is only 1.5%, why does my grocery bill seem like it’s 10% higher than last year?” Many of us ask ourselves that question, and it illustrates the importance of understanding how inflation is reported and how it can affect investments. ¹ Inflation is defined as an upward movement in […]
The average $20 bill is in circulation for 7.7 years, according to a 2013 report by the Federal Reserve. That’s better than the $10 bill, which has a life span of only 4.2 years, but worse than the $100 bill, which is in circulation for 15.0 years.1 Tip: Daily Production. In 2012, the government printed […]
U.S. Personal Savings Rate The U.S. personal saving rate stood at 4.9% at the end of 2013, a bit higher than its 10-year average of 3.9% and well below the recent five-year high of 8.7% in December 2012.1The personal saving rate is the federal government’s estimate of what percent of their incomes U.S. households are […]
Keep Your Umbrella Handy In 2013, the U.S. had a record 9.6 million millionaires, up from 9 million in the previous year. An increase in personal wealth may bring greater financial flexibility; it may also bring greater liability. Individuals with high net worth, or those who are perceived to have high net worth, may be […]
A House Divided Some experts say 50% of marriages in the U.S. end in divorce, but the odds could be much worse for celebrities. One study of Golden Globe winners suggests that famous couples have only a 35% chance at success.1 Getting a divorce is a painful, emotional process. Don’t be in such a hurry […]
To Catch a Thief Many Americans have taken steps in recent years to protect their identity, and for a time their efforts appear to be working. The Federal Trade Commission reported in March 2011 that identity-theft complaints had fallen by 20% between 2008 and 2010. Unfortunately, they’ve rebounded, reaching record levels in 2012.¹ Still, more […]
Some people approach buying a car like they approach marriage, “till death do us part.” Others prefer to keep their options open, trading in every few years for the latest body style, the hottest technology, or the highest horsepower. Whichever describes you best, we all face a similar decision when it comes to acquiring a […]
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