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Off to College? Here's How Much Spending Money Your Kid Needs their First Year

January 17, 2022

If your child is heading off to college soon, you’ve probably considered costs like tuition, housing, food and books. But have you considered your college student’s need for spending money?
 
These are the one-off expenses like concert tickets, late-night pizza orders, or a university sweatshirt imprinted with the school mascot. And all those expenses can quickly add up. It’s never too early to start discussing college spending and budgeting with your teens. There are a few things to consider when financially preparing for freshman year.

How Does a Small Business Use a Zero Balance Account?

January 3, 2022

If you’re a small business owner, it might feel counterintuitive to have a business checking account with the goal of keeping a $0 balance.But that’s actually the whole point of a Zero Balance Account: You use that dedicated checking account to fund a specific expense, such as payroll, departmental spending, petty cash, travel reimbursement, or any other business need. Funds are sent to a particular Zero Balance Account  only when necessary to cover checks or debits. At the end of every day, any money in the Zero Balance Account is transferred back to the primary account.

Small businesses often use these types of accounts because they help control finances, increase efficiency, and allow all funds to take advantage of higher interest rates.

What is a Mutual fund and How Does it Work?

December 27, 2021

Regardless of what kind of investor you are — small or large, aggressive or conservative, or somewhere in between — mutual funds offer you diversification at a lower cost, this is often with the added benefit of professional management. For those reasons, mutual funds are one of the most popular investment vehicles for the majority of investors. So let’s take a look at what mutual funds are, and why you should consider them as part of your overall investment strategy. And before you make any investment decisions, seek out a trusted professional for investment advice.

How to Get a Small Business Loan

December 20, 2021

You’ve decided to take your small business to the next level with a small business loan. But how do you get a small business loan? While it’s exciting to see your small business take off, applying for a loan can be complicated and intimidating. That’s why we created this 5-step guide to help you apply for a small business loan.

Should I Pay Off My Home Loan Early?

December 13, 2021

If you own a home, you may have imagined more than once what it would be like to say, “My house is paid off! I don’t have a mortgage anymore!”

Go ahead: Add in a little happy dance, and maybe throw a few fist pumps in the air, because paying off a mortgage is a big deal. According to 2020 data from the U.S. Census Bureau, about 38% of owner-occupied homes are owned free and clear; for homeowners under age 65, the share of paid-off homes is 26.4%.