HMBradley recently changed the requirements for earning 3% APY on their platform. Beginning February 1, 2022, although HMBradley remains an exclusive high-yield savings account that offers 3% APY, HMBradley added an additional requirement to getting that 3% APY. For users that met all of three existing steps earned 3% APY, as I’ve outlined in my previous article: (1) Connect your direct deposit to HMBradley; (2) … Continue reading HMBradley: 3% APY checking account too good to be true?
When you think of exclusive banks and referral only, you probably visualize a secret society of the ultra-wealthy or a villain from a Bond movie. Alternatively, you might be more grounded in reality, and believe private banking is for individuals with a net worth or savings above a certain dollar threshold. Well, HMBradley is neither! It allows members to join via referral; however, each member … Continue reading HMBradley: The exclusive, referral-only, 3% APY checking account
High-yield savings accounts (HYSA) do not feel high-yield anymore. The national average APY for US savings accounts is 0.06% according to the FDIC. 0.06% APY means that for every $10,000 you have tied up in a savings account, you are paid $6 per year. Obviously 0.06% will not protect you from any level of inflation, which means that these savings accounts are useless. Other online … Continue reading Porte, the 3% APY savings account – What’s the catch?
With the price of homes still at record highs, some Millennials are coming up with a new strategy to get into home ownership: buying homes with friends. Millennials are growing tired of paying higher rents and losing out on building equity in real estate and the appreciation on home values. Therefore, some are partnering with friends and roommates to buy a nicer home than any … Continue reading Buying homes with friends: Millennials’ new recipe for drama
Saving cash is an important part of your financial planning. While “cash is trash” and similar headlines are spreading, having cash set aside is important for an emergency or making a big purchase soon. The reason why “cash is trash” has been going around is for two reasons: (1) interest rates on borrowing money is near record lows, and (2) the return on investing in … Continue reading That’s a Yotta cash: The risk-free, lottery-based savings account
How to make your dividends automatically work for you with DRIP investing. Continue reading DRIP Dividend investing: When life gives you lemons, grow a lemon tree
Most budgeting systems are time consuming and complex. The beauty of the rule-of-thumb budget is the speed and simplicity of it. All you need to know is your after-tax income. Once you have determined your after-tax income, you simply allocate it as follows: 50% towards your necessities 30% towards your wants 20% towards your financial goals Next is to define the categories: Necessities, Wants, and … Continue reading Simple Budgeting: The 50/30/20 rule-of-thumb budget
So called financial gurus tell you that if you want to be rich, quit eating avocado toast and drinking Starbucks. Admittedly, this does remove expenses that may add up over time. However, that frugality alone won’t make you “rich.” Rather, understanding the ideas behind the “avoid paying $10 for avocado toast and $5 for coffee” is what will make you handle your money better and … Continue reading Understanding opportunity cost: How much does that avocado toast and Starbucks actually cost me?
Pas-sive – not reacting visibly to something that might be expected to produce manifestations of an emotion or feeling. Dictionary.com In most areas of life, being active is seen as the optimal choice. “Pursue your dreams.” “Take life by the horns.” “Don’t sit back and wait for life to happen to you.” However, when investing, being active can be a costly choice. Common Misconceptions: Often, … Continue reading Passive investing 102: What is passive investing?
During these turbulent times it is easy for investors to make poor decisions, such as changing your investing strategy. In their recent newsletter, Edward Jones said that the “hardest part of investing is the one we have the most control over – our emotions.” Historically, people make the wrong investment decisions because they act emotionally. When the market crashes, the best option is to buy … Continue reading Passive investing 101 – Surviving and thriving in chaotic times