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How Many Credit Cards Are Too Many?
Credit cards can increase your purchasing power, but how many credit cards are too many? There are both pros and cons of having multiple cards.
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Year-End Financial Checklist
Do you make financial decisions that impact important areas of your life without regularly reviewing your choices to ensure that they still meet your needs? If so, that could be a mistake. Your finances and personal circumstances are continually evolving, and a plan or product that meets your needs today may not be the best option down the road.
Using the COVID-19 Quarantine to Develop Better Financial Habits
Whether you’re still hunkered down in your home or just spending less time out and about since the coronavirus pandemic, chances are you’ve found yourself with some time to kill. And you can only binge watch so many movies and television series. So, if you’re not using this newfound time to learn a new language or work on your great American novel, why not use some of it to develop something that may actually pay off once things get back to normal?….whatever “normal” turns out to be. Why not take this opportunity to begin developing better financial habits?
How Do Travel Credit Cards Work?
A travel credit card—more accurately, a travel rewards credit card—can help make getting away a little easier. Especially on your wallet, if it’s the right card for you. But what exactly is a travel awards credit card, how do you know if one is right for you, and how do you go about getting one?
What Percentage of My Long-Term Investments Should Be in Cash?
Many experts recommend keeping at least three to six months of living expenses in cash in an emergency fund that can be easily accessed in case of an unexpected setback such as a serious illness, injury, or job loss. But what about your long-term investments? How much—if any—should be in cash?
Cash Investment Options
Balancing your investment portfolio can sometimes feel like walking a tightrope. Higher-risk investments may produce greater rewards, but leaning too much into one type of investment could also cause your investment portfolio to take a dive should that investment go south. Depositing some of your money into a cash investment account could help lessen some of your risk, especially if you’re older and looking to transition from riskier to less-risky investments. It’s also a decent move to make if you’re pausing to you get your bearings and want to protect your money and maintain stability as you ponder your next financial move. Just be aware that, in exchange for less risk, cash investments typically offer lower returns than higher-risk investments.
The Invention of Credit Cards
The concept of credit—purchasing something now in return for payment later—has been around for thousands of years. Five-thousand-year-old old texts from ancient Mesopotamia exist, recording accounts of clay tablets being used as instruments for conducting trade, sort of like earthen credit cards. But when did actual credit cards like the ones you carry in your purse or wallet today materialize?
This material is for informational purposes only and is not intended to replace the advice of a qualified tax advisor, attorney or financial advisor. Readers should consult with their own tax advisor, attorney or financial advisor with regard to their personal situations.