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February 4, 2024
By
The Admiral Staff
After budgeting and increasing income, the article suggests moving savings beyond a checking account to maximize growth. High-yield savings accounts offer significantly higher interest rates than traditional savings accounts (currently around 2-6% compared to the national average of 0.42%). These accounts are ideal for short-to-medium term savings goals like emergency funds, down payments, or vacations. While offering a safe, FDIC-insured option, they do have potential drawbacks like minimum balance requirements, fees, and transfer
December 26, 2023
By
The Admiral Staff
Acorns Spend is a new checking account linked to an investment account designed to make investing easy. It offers a $75 bonus for setting up direct deposit, automatically rounds up purchases to invest spare change, and allows users to invest a percentage of direct deposits. The app manages investment portfolios based on user goals, utilizing ETFs, and costs $3 per month with no overdraft fees or minimum balances.
November 28, 2023
By
The Admiral Staff
The article highlights how improving your credit score can unlock financial goals like buying a home or car. It features Lorenzo Frias, who raised his score by nearly 170 points using the free website Credit Sesame. Credit Sesame provides personalized tips and tools to identify credit report errors and improve scores, recommending actions like credit-builder loans, secured credit cards, and disputing negative claims. Frias’s improved credit allowed him to secure an apartment lease and pre-approval for a mortgage, demonstrating the
March 23, 2023
By
The Admiral Staff
This article suggests a “spring cleaning” for your budget, offering five steps to refresh your financial management. These include identifying and eliminating unnecessary expenses, updating spending limits in budget categories, ensuring spending aligns with your values, considering a different budgeting method (like zero-based or 50/30/20), and utilizing tools or accountability partners to maintain the budget long-term.
