This weekly credit card news roundup contains what you should know about the cards in your wallet, other available offers, and new product announcements or reports that made us briefly look away from the GameStop ticker. What’s the Lowdown? Here’s what caught our attention between Jan. 22 and Jan. 28, 2021: What’s the Deal With Balance Transfer Offers? The new year usually brings a bevy of debt repayment advertisements, including credit card balance transfer promotions....

The Purpose of a Stop Loss Order First, it helps to understand stop-loss orders and how they work. These orders are placed with a broker to take a certain action, either buy or sell when a stock achieves a certain price. You can place them in advance to limit your risk if a price tanks at a time when you’re unaware of the shift. Your associated risk is correlated with the stop loss price you set....

Shunned while mortgage interest rates hit rock bottom over the last two years, adjustable-rate mortgages (ARMs) have started looking a lot better to borrowers since interest rates for fixed loans have soared recently to their highest levels in more than a decade, according to data from the Mortgage Bankers Association. After falling to a pandemic-era low, the percentage of mortgage applications submitted for adjustable- rather than fixed-rate loans has climbed much of the year and last week reached its highest point since 2008, as shown in the chart below....

Absolutely nothing happened in the world of credit cards this week. Zero, zip, zilch, nada. April fools. While the busy month of March did end quietly compared to prior weeks, a few newsy bits popped on our radar this week, including Alaska Airlines’ official place in the oneworld airline network, more Chase Sapphire card Peloton perks, and tasty Mastercard offers for those who despise grocery shopping. This weekly credit card news roundup contains what you should know about the cards in your wallet, other available offers, and new product releases or reports that stood out like a giant container ship stuck in the Suez Canal....

When rates are high, locking in an attractive rate is beneficial. But with low rates, it’s less appealing to commit to a long-term relationship. Still, CDs can make sense in a variety of interest rate environments, and with modern CDs that offer flexibility, you have more options than ever. Interest Rates When rates are low, banks and credit unions typically offer similarly low rates on savings accounts and CDs. As a result, expect to earn very little on your savings for the foreseeable future; however, things could change at any time....

Investing styles and tactics are like the clothes that fit you best. You don’t need anything pricey or bespoke. You need something comfy that will last a long time. This is even more the case if you are planning for the long term. (Think 10 years or more.) Don’t adopt an investment strategy and drop it for some hot new trend you found online. Stick to the time-tested basics. See which of the best investing strategies work for you....

Serious Illness Sorry, we said that we would stay positive, but a serious illness is nothing to smile about. When you or a loved one is sick, most rules of smart financial planning are forced aside in favor of getting the person the care they need and deserve. A single person who won’t live much longer should take Social Security benefits as soon as they can, but if the person is married, things change....

While federal pandemic employment programs will still end Sept. 6, states that haven’t used their share of the $350 billion previously allocated by the American Rescue Plan can tap those funds to continue making some payments, Treasury Secretary Janet Yellen and Labor Secretary Martin J. Walsh wrote in a letter to lawmakers. That doesn’t apparently include a $300-a-week federal supplement to regular state benefits. “As President Biden has said, the boost was always intended to be temporary and it is appropriate for that benefit boost to expire,” the letter from Yellen and Walsh said....

Kiyoshi Hijiki /Getty Images Looking at the share of the population employed in 2020 versus 2000, people born after 1985 accounted for 67% of the estimated 12.7 million workers under 60 who were “missing” from the workforce last year, William Emmons at the Federal Reserve Bank of St. Louis wrote in a blog post March 4. Those between 35 and 59 represented just 33% of the missing workers, despite making up 55% of the 16-to-59 age group....

What Is P2P Borrowing? P2P loans are loans that individuals and investors make—as distinguished from loans that you obtain from your bank. People with available money offer to lend it to individuals and businesses through online services. A P2P service (typically a website or mobile app) is a central marketplace matching lenders and borrowers, making the process relatively easy and efficient for everyone involved. Benefits of Borrowing With P2P Low rates: You can often borrow at relatively low rates using P2P loans....

But this fast financing comes with a cost. So before you use your credit card to get cash, understand the pros and cons of a business cash advance. What Is a Business Credit Card Cash Advance? A cash advance from your business credit card allows you to immediately get cash by drawing from your credit card’s line of credit. To get a cash advance, you will need a credit card that has available credit....

Whether you are a seasoned entrepreneur with a business in a cash crunch, or a new contractor looking for capital to take your business off the ground, you need to consider your financial needs to understand which type of loan is right for you. Business loans provide capital for growing your company while personal loans can be used for nearly any purpose. How do you differentiate between the two? How would you know which type of loan is right for your current needs?...

If you are self-employed, you will need to keep detailed records of when and how your personal phone is used for business expenses in order to deduct it on your taxes. If you are an employee who uses your personal cell phone for business, it is considered an unreimbursed employee expense. You are not able to deduct these expenses. Business Use of Personal Cell Phone If you’re self-employed and use your personal cell phone for business, rather than a dedicated landline or business cell phone, you can deduct a portion of the cost of your phone as a business expense....

Learn more about what the Fair Credit Billing Act says about your right to dispute credit card charges, along with when you should and shouldn’t do it. Can I Dispute a Credit Card Charge I Willingly Paid For? The short answer is yes, in some circumstances, you can dispute credit card charges you willingly made and paid for. This is in accordance with the Fair Credit Billing Act, which affords consumers some protections regarding their credit purchases....

CD Rates During Recessions During a recession, the economy slows down as unemployment rises and fewer people are able to buy products and services. To stimulate spending, borrowing, and investments, the Federal Reserve often lowers interest rates. “CD rates are very correlated with the interest rate that the Federal Reserve controls,” said Doug Carey, a Chartered Financial Analyst and the owner and founder of WealthTrace, a financial planning, and retirement planning software company....

The exact rules for dependents can vary depending on which credits or deductions you’re claiming, but they mirror the rules for being able to claim dependents in general. Tax Credits and Deductions for Dependents Several tax credits are based on the number of dependents you have, including: Child Tax CreditAdditional Child CreditCredit for Other DependentsChild and Dependent Care Tax CreditEarned Income Tax CreditAdoption Credit The Child Tax Credit The Child Tax Credit was expanded under the American Rescue Plan Act (ARPA), but only for tax year 2021....

Raising children is expensive and co-parenting offers an opportunity to save on the big and small costs. Here’s what you need to know about dividing up expenses as co-parents and maximizing savings. Talking About Co-Parenting and Finances Good communication is critical for co-parenting in general and specifically when it comes to money. If you were married, your divorce decree may spell out who’s responsible for what when it comes to your child’s basic living expenses, health care, extracurricular activities, and college planning....

But you have done the work if you’re a service business, or you delivered the product if your customer is another company. You must find a way to track what is owed to you and how much is owed, so you know what is outstanding and needs to be collected. Even if you have a very small business, you will find yourself in the position of having to collect from customers....

U.S. student loan debt reached $1.747 trillion and the average federal student loan balance was $37,113 as of April 10, according to the Education Data Initiative. Yet only 48% of the students surveyed by Real Estate Witch said the debt they took on was worth it, and 40% said they regretted even attending college. “One of the most common regrets students have is accumulating too much student debt, especially for a degree that doesn’t translate into a well-paying job,” the report said....

Tuition at a four-year public school is about 10% more than in 2010, according to the National Center for Education Statistics. According to the Federal Reserve, four out of ten adults that attended college accrued some debt to cover their education costs, with student loans being the most common type of debt used to pay for college. When deciding how to pay for higher education, there’s a reasonable chance that you will have to get student loans....