TJ Porter , Author at Money Crashers

6 Best Cash Management Accounts of 2024

TJ Porter — Thu, 11 May 2023 16:35:04 +0000

A cash management account (CMA) lets investors manage their money and effortlessly transfer it to and from their investment account while earning interest. Some even come with debit cards, all but eliminating the need for a separate checking account. But which CMA is right for you?

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Variable vs. Fixed-Rate Mortage Loans Loans – Which Is Better?

TJ Porter — Fri, 14 Oct 2022 13:50:46 +0000

One of the first decisions you have to make is whether you opt for a variable- or fixed-rate loan, which can impact your monthly payments and the total cost of the loan. Before deciding, learn more about how each one works, its pros and cons, and when one is better than the other.

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What Is a Mortgage Origination Fee?

TJ Porter — Mon, 10 Oct 2022 15:30:02 +0000

You have to save up a down payment just to start the home-buying process. But it’s not the only upfront payment you need to make. You also have to pay origination fees at closing, so ensure you know what they are and how to negotiate them.

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Does Checking Your Credit Score Lower It?

TJ Porter — Tue, 27 Sep 2022 11:00:00 +0000

Your credit score is an important financial metric. Checking your credit report regularly helps you monitor and protect your score. But when a lender checks your credit, it usually reduces your score by a few points. Does the same thing happen when you check your own credit?

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What Is a Certificate of Deposit (CD)?

TJ Porter — Tue, 20 Sep 2022 11:00:00 +0000

Certificates of deposit (CDs) are a very low-risk way to invest your money through banks, credit unions, brokers, or lenders. Before you decide where to allocate your money, learn the basics of what certificates of deposit are and how they compare with other types of savings and investment vehicles.

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When Do Credit Card Companies Report to Credit Bureaus?

TJ Porter — Wed, 24 Aug 2022 21:00:00 +0000

Knowledge is power. And knowing when credit card issuers report to credit agencies gives you critical information that can help boost your credit score. This is especially important if you’re building credit or working toward a specific financial goal.

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Variable-Rate Loan – What Is It and How Does the Interest Work?

TJ Porter — Wed, 10 Aug 2022 17:00:00 +0000

Many loans have fixed interest rates that never change, but some are variable. Their interest rates can change over time, affecting the monthly payment and the overall interest cost. Learn how variable-rate loans work and when they make sense for you.

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What Is the Federal Reserve System – History & How It Affects You

TJ Porter — Tue, 09 Aug 2022 11:00:00 +0000

The Federal Reserve, commonly known as the Fed, is the central bank of the United States. It’s tasked with managing the nation’s economy, providing banking services to the US government, and determining monetary policy. Learn more about its history and how it works.

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What Is Tax-Loss Harvesting and How Does It Work?

TJ Porter — Mon, 01 Aug 2022 11:00:00 +0000

Tax-loss harvesting lets you use underperforming assets to lower your taxes. But managing your portfolio is complicated enough — is tax-loss harvesting even worth it? The short answer is yes. And advisory services leveraging modern technology can help you reap the benefits without the headache.

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Who Benefits From Inflation: Borrowers or Lenders?

TJ Porter — Wed, 20 Jul 2022 17:00:00 +0000

Inflation causes money to lose value over time. But that’s not always a bad thing. For borrowers and lenders, inflation has some low-key benefits. Find out what they are and how to take advantage of them.

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Real vs. Nominal Interest Rates – Differences Between Them

TJ Porter — Tue, 19 Jul 2022 11:00:00 +0000

Whether you’re borrowing money or saving it, interest rates affect your personal finances. There are two types to keep track of: real and nominal interest rates. Learn the difference between them and find out which is more important.

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How to Choose a Financial Advisor – 6 Things to Consider

TJ Porter — Tue, 05 Jul 2022 11:00:00 +0000

It’s always nice to get a second opinion on money matters. That’s why choosing the right financial advisor is so important. Learn how the process works and which steps you should take to make the best decision you can.

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How to Pay Your Mortgage With Your Credit Card

TJ Porter — Mon, 04 Jul 2022 15:00:00 +0000

Paying your mortgage with your credit card sounds like a great way to earn rewards and stretch your dollars further. But it’s complicated — and not all it’s cracked up to be. Learn if and when you should pay your mortgage with plastic.

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Charge Cards — Definition & Differences vs. Credit Cards With Interest

TJ Porter — Tue, 21 Jun 2022 11:00:00 +0000

Most people think of credit cards as a common way to pay for purchases, but charge cards are another option. They offer rewards and perks and help you avoid interest charges. Find out the differences between charge cards and credit cards, as well as some good charge cards to consider.

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What Is a Good Credit Score – Understanding Credit Ratings & Ranges

TJ Porter — Tue, 21 Jun 2022 11:00:00 +0000

When it comes to your credit, it’s important to know how you stack up. Do you have good credit? Excellent credit? Poor credit? How can you find out? Learn what a good credit score is and find out the credit ratings and ranges lenders use to evaluate your creditworthiness.

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Does Medical Debt Affect Your Credit Score?

TJ Porter — Wed, 15 Jun 2022 21:02:00 +0000

Medical bills are a major driver of consumer debt. They can also contribute to financial distress, up to and including bankruptcy. But do they affect your credit score? Learn if, when, and how medical bills could negatively impact your credit.

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How to Upgrade or Downgrade Your Credit Card

TJ Porter — Wed, 08 Jun 2022 16:00:00 +0000

Life changes, and so do your spending needs. If you’re looking for a new credit card, upgrading or downgrading your current card could be the right choice. Learn how to find out if you’re eligible and how to execute the change if you are.

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Investing Advice for Millennials – 8 Financial Principles to Build Wealth

TJ Porter — Mon, 23 May 2022 11:00:00 +0000

Investing is one of the most effective ways to build wealth and reach your financial goals, but many millennials struggle to invest for a variety of reasons. The good news is that once you learn the basics, investing isn’t too difficult. Read on for investing advice for millennials.

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What Is a Credit Report and How Do You Get a Free Annual Credit Report?

TJ Porter — Mon, 23 May 2022 11:00:00 +0000

Your credit report covers multiple aspects of your relationship with credit and debt. It’s the basis for your credit score, which determines your ability to qualify for new credit and how much it costs you. Learn what’s in your credit report and how to get one for free.

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Fiduciary vs. Financial Advisor – Differences Between These Investment Planners

TJ Porter — Thu, 19 May 2022 16:00:00 +0000

The job descriptions for fiduciaries and financial advisors may read similarly, but these two types of financial professionals are not interchangeable. Which should you turn to for financial advice? Learn the differences between fiduciaries and financial advisors to decide which is best for you.

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