Author: Helen Barklam
Helen Barklam is Editor of Investment Guide. Helen is a journalist and writer with more than 25 years experience. Helen has worked in a wide range of different sectors, including health and wellness, sport, digital marketing, home design and finance. Helen aims to ensure our community have a wealth of quality content to read and enjoy.
IntroductionA money market account is a type of savings account offered by banks and other financial institutions. It is a safe and secure way to save money and earn interest on your deposits. Money market accounts typically offer higher interest rates than traditional savings accounts, and they often come with additional features such as check writing and debit card access. Money market accounts are a great way to save for short-term goals, such as a vacation or a down payment on a car. They are also a great way to diversify your savings portfolio and protect your money from market…
IntroductionA Certificate of Deposit (CD) is a type of savings account offered by banks and other financial institutions. It is a secure and low-risk investment option that allows you to earn a fixed rate of interest over a predetermined period of time. CDs are insured by the Federal Deposit Insurance Corporation (FDIC) up to $250,000 per depositor, making them a safe and reliable way to save money. CDs are a great way to save for retirement, college tuition, or any other long-term financial goal.What is a Certificate of Deposit (CD) and How Does it Work?A Certificate of Deposit (CD) is…
IntroductionA checking account is a type of bank account that allows you to deposit and withdraw money, pay bills, and make purchases. It is a convenient way to manage your finances and is often used for everyday transactions. Checking accounts are typically offered by banks and credit unions, and they come with a variety of features and benefits. With a checking account, you can access your money quickly and easily, and you can also earn interest on your deposits.What is a Checking Account and How Does it Work?A checking account is a type of bank account that allows you to…
IntroductionA savings account is a type of financial account that allows individuals to save money and earn interest on their deposits. Savings accounts are typically offered by banks and credit unions, and they are a safe and convenient way to save money for the future. Savings accounts typically offer higher interest rates than checking accounts, and they are a great way to build up a nest egg for retirement or other long-term goals. Additionally, savings accounts are FDIC-insured, meaning that your deposits are protected up to a certain amount in the event of a bank failure.What is a Savings Account…
IntroductionA debit card is a payment card that allows you to access funds from your bank account. It is a convenient and secure way to make purchases, pay bills, and withdraw cash from ATMs. Debit cards are linked to your checking account, so when you use your card, the money is taken directly from your account. Debit cards are a great alternative to cash or checks, and they offer a variety of features and benefits.What is a Debit Card and How Does it Work?A debit card is a payment card that allows you to access funds from your bank account.…
IntroductionA credit card is a financial instrument that allows individuals to make purchases and pay for services without having to pay the full amount upfront. Credit cards are issued by banks and other financial institutions and allow users to borrow money up to a certain limit. Credit cards are a convenient way to make purchases and pay for services, but they also come with certain risks and responsibilities. It is important to understand how credit cards work and the potential risks associated with them before using one.What is a Credit Card and How Does it Work?A credit card is a…
IntroductionA home equity loan is a type of loan in which the borrower uses the equity of their home as collateral. This type of loan is often used to finance large purchases such as home improvements, medical bills, or college tuition. Home equity loans are typically offered at a fixed rate and are secured by the borrower’s home. The loan amount is based on the difference between the home’s appraised value and the amount owed on the mortgage. Home equity loans can be a great way to access the equity in your home and use it to finance a large…
IntroductionRefinancing in finance is the process of replacing an existing loan with a new loan that has different terms. This can be done to reduce the interest rate, change the repayment schedule, or to access the equity in the property. Refinancing can be used to consolidate debt, reduce monthly payments, or to access cash for other investments. It is important to understand the costs associated with refinancing and the potential benefits before making a decision.What is Refinancing and How Can it Help You Save Money?Refinancing is a great way to save money and potentially lower your monthly payments. It involves…
IntroductionAn adjustable-rate mortgage (ARM) is a type of mortgage loan in which the interest rate is periodically adjusted based on an index. ARMs are popular among homeowners because they offer lower initial interest rates than fixed-rate mortgages. However, the interest rate can change over time, which can lead to higher monthly payments. ARMs are typically used by borrowers who plan to stay in their home for a short period of time and are willing to take on the risk of a higher interest rate in exchange for a lower initial payment.Exploring the Pros and Cons of an Adjustable-Rate Mortgage (ARM)An…
