You likely know that most banks will have savings accounts and/or high yield interest accounts that you can accrue interest. I recently heard about a bank that will pay you in American Airlines miles instead of cash for the interest. Which would you choose? Cash or airline miles? If you have had savings accounts you know you will get a 1099 tax form identifying how much interest you accrued that year. You also know that you have to file this…
Practically almost every business takes cash or credit. I refer cash as physical cash money or accessing directly from your bank account like your debit card or giving your account information. I like using credit whenever I can because of the points benefits whether it’s for travel points or cash back points. However, I usually don’t use my credit card when I see the disclaimer that I’ll be charged a transaction fee. I frequently contemplate when it’s best to use…
Save your cash. That’s what the Feds want when they raised interest rates again. To combat inflation they raised rates another 3/4 of a point. That means is costs more to borrow money whether it’s a mortgage, auto loan, or credit cards. The higher the cost to borrow money, less likely a consumer will spend less. In other words, save your cash. If you were debating to renovate your home, you might be thinking twice. Borrowing money to do so…