On January 25, 2012, the Federal Reserve announced that it will be keeping interest rates at historic low rates near 0%. For the past few years, this has been the state of affairs as the Fed, led by Chairman Ben Bernanke, attempts to stimulate the economy. While historic low rates offer some opportunities for those…
Tag Archive: interest rates
How Everyone Can Make a Million Dollars by Age 65
If you are reading this and hoping for a get rich scheme, I’m sorry to tell you that you won’t find it here. However, keep reading, because you will gain extensive knowledge on how to stop wasting your money and taking essential steps to rid yourself of your debt and save for the future. From…
Fun With Math: More Than Just the Rule of 72
The rule of 72. You probably already know what it is all about. If not, the rule of 72 is used as an estimate to determine how long an investment will take to double at any given interest rate. Let’s say you have $10,000 in a CD that earns 5% annual percentage yield, or APR….
It’s Cold: Eliminate Credit Card Debt with a Snowball
There are multiple ways to eliminate your credit card debt, but one of the easiest and most rewarding is through the snowball method. How does it work? You set out to pay a fixed amount per month which is over and above what the minimum payments are. The excess amounts go to the smallest balance….
Citi Credit Card Opt Out Deadline Approaching
Attention Citi credit card holders! Your rates have increased! In November 2008, Citigroup announced they would be raising their credit card interest rates much to the demise of their holders. Citigroup cardholders will then have until the end of January to turn down the higher interest rates. If they decline the rate increase, they will…
