What Recent Interest Rate Hikes Mean for Banking Customers
Here’s what you need to know about federal interest rates as they continue to rise The steady, annual increases to federal interest rates have business and retail banking customers nervous. Recent Interest Rate Activity After a recession period of interest standstill—stretching from mid-December 2008 to mid-December of 2015—rates have slowly crept back…Continue Reading »
Fed Lowers 2019 Interest Rate Hike Forecast from Three to Two
U.S. Rate Hikes to Continue at Slower Pace in Down Market Despite down market, the Fed signaled more 2019 interest rate hikes in January. Subsequently, stocks carried their negative trends into January. Background 2018 Interest Rate Hikes On December 19, the Fed raised interest rates for the fourth and final time in…Continue Reading »
5 Profit-Driving Business Resolutions for 2019
Ring In the New Year with This Simple Business To-Do List Every year, we—as individuals, as business owners—try to trick ourselves into achieving ambitious goals. To will our wants into realities, we use a stronger, more determined word: resolution. After all, a resolution is a decision. A goal could end in failure….Continue Reading »
The Dangers of Cash Advance and Short-Term Loans
5 Essential Questions to Ask When Considering Cash Advance and Shorter-Term Loan Options What is a cash advance loan? Cash advance loans, also known as merchant cash advances (MCAs), are the product that birthed the online lending industry. A solution for business owners ineligible for bank approval, cash advance provides business owners…Continue Reading »
Fed Interest Rates Rise Again — the Third 2018 Rate Hike
What to expect after the latest federal interest rate increase Source: CNBC Last week, the Federal Reserve raised its federal funds rate target range a quarter percentage point, 2.00–2.25%, marking the third interest rate hike of the year. The decision to raise the interest rate did not come as a surprise….Continue Reading »
Free to Freeze: The Right to Freeze Your Family’s Credit Reports
How the new Dodd–Frank reform law helps protect both personal credit and your children’s credit Kids Are Getting Too Much Credit Identity theft is rampant, and it’s all about the money. Undeservingly, kids are getting all the credit. New credit files never applied for are popping up on children’s financial records….Continue Reading »
How You Can Earn 200x More Interest
Rising Certificate of Deposit (CD) returns prove that time really is money The most common interest rate on savings accounts is 0.01%, according to ValuePenguin’s 2018 report. If your money is with a big bank, chances are you’re earning just that. In a year where rates are on the rise, it may…Continue Reading »
Why You Should Open a Separate Bank Account for Your Business
Maintaining Separation Between Your Business and Personal Life Saves Time and Sanity As a small business owner, you may not see the need to open a business bank account. After all, products like QuickBooks and FreshBooks make it easy to sort business from personal. But if the goal is to grow…Continue Reading »
How to Choose a Bank Lender
7 Steps to Finding a Business Lender that’s More Advisor than Salesperson Finance guru and talk radio personality Dave Ramsey encourages his listeners to look for financial advisors with the “heart of a teacher.” Of course, that’s easier said than done when it comes to business banking. After all, salespeople outnumber…Continue Reading »
How You Can Secure Savings for Retirement
The Right Mix of 401(k), IRA, Money Market, CD, CDARS, and ICS You’re almost there. Retirement is right around the corner. The question is, are you ready? Now that you’ve reached this exciting stage, you’re looking to reduce risk and secure your savings through safe investment options. Tax-favored retirement accounts, high-yield…Continue Reading »