APY = Annual Percentage Yield
After the 2008 financial crisis many of us lost faith in traditional banks. High fees, high penalties, minuscule interest rates on our savings. Enter the internet. The rise of online banking has changed the game. Capitalizing where traditional banks have let us down. Without the overhead of brick and mortar locations, online banks can offer better rates and lower fees. Listed are some banks, online banks, and prepaid accounts that all have interest rates of around 5%. Bank of America's Platinum Honors rewards - their highest tier program - only offers 0.06%. Wells Fargo only offers 0.05%, and Chase will only give you 0.01%. Each bank has it's on stipulations, but with %5 interest versus 0.01% is significant, especially for passive money.
Northpointe Bank's Ultimate Checking Account is a really cool program. As long as you use your debit card at least 15 time a month between online or in-store, enroll in their eStatements program, and set up for direct deposit, you'll be set for 5% APY on balances up to $10,000.00. Balances larger than $10,000.00 will earn a simple interest rate of 0.10% with a corresponding APY of 2.54%-5.00% APY. What's also cool about Northpointe is that every month they will reimburse up to $10 in ATM fees. Learn More here.
Netspend is the leader in prepaid cards. While you have to go in-store to load cash, Netspend all offers direct deposit as well. And the offer 5% interest on balances up to $1,000.00. There's no minimum deposit to start or minimum account balance required, and when the balance exceeds $1,000.00 interest will be 0.49% with an APY of 0.50%, and the interest paid on the portion of the Average Daily Balance which is $1,000.00 or less will be 4.91%. The APY for this tier will range from 5.00% to 0.54%, depending on the balance your the account. You can learn more here.
Mango's slogan is "it's prepaid made perfect". With a net direct deposit of at least $800.00 monthly and a minimum end of the month balance of $1.00 is all that is needed to qualify for 6.00% APR. On balances above $5,000, they offer 0.10%. They also offer a fall-backAPR of 2.00% for if your account does not meet the minimum $800 dollar net direct deposit threshold. Learn more about Mango here.
Powered by Paypal. This card is backed by Netspend and works under all the same parameters, including the 5% APY. What makes this card special however is how seamlessly it syncs with you Paypal account. You can instantly transfer funds from your paypal account, stash them in your savings and start earning some high yield interest. Learn more here.
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Airbnb offers an affordable option for people looking to be more comfortable as they travel.
However, there are downsides to staying in a host's home rather than a hotel. Whereas hotels are designed for constant streams of visitors and often have furniture built to last, at an Airbnb, you may be staying on old or cheap furniture that a host is using in order to maximize their profits.
And while most reputable hotels will have regular room inspections from staff to check for any wear and tear, Airbnb damage disputes are oftentimes he said, she said situations. If you are in an Airbnb and something breaks, there are a few steps you should take in order to ensure that you are not on the hook for damages out of your control.
If you're keeping tabs on the art and tech worlds, you've probably been hearing whispers about "NFTs" for the past month. Just over the past week they've entered the mainstream lexicon.
Twitter founder Jack Dorsey made the news for selling his first ever tweet. The app has been teasing paid subscription models and newsletter-like features, but tweets for sale is "the next frontier."
just setting up my twttr— jack (@jack)1142974214.0
The 2006 tweet went up for auction as an NFT, and the current bid is $2.5 Million. But what does it mean to own that? Why would anyone want to? And what even is an NFT?
Long gone are the days when the majority of Americans dreamed about owning a home with a white picket fence.
The traditional American Dream may be on its deathbed, but that doesn't mean a core component of the vision can't survive. It simply takes a diverse perspective. People can still believe they can attain their own vision of success in society with hard work, knowledge, and risk-taking. Investing in today's American Dream may literally mean investing money in our modern economy, starting with our infrastructure.
Real estate investing in particular is a lucrative method that can boost income and secure a better financial future for many. There's always risk involved, but the payoffs can far outweigh the uncertainty. Selecting solid financial investments is about confidence and competence. If you're looking for some advice on this kind of investment, here are a few savvy tips for new real estate investors.
Stick To a Specific Strategy or Niche
Real estate is a challenging sphere of the business world, one that requires several key skills: groundwork knowledge, networking, perseverance, and organization. True knowledge of the real estate market will come with time and experience, but it's a smart idea to select one area of the market and stick to it. This is the best way to attain in-depth familiarity with your specific niche.
First, choose a geographical area close by and then a niche strategy within it, such as house flips, rental rehabs, or residential or commercial properties. By doing so, you can become aware of current inner working conditions in the market and you'll have a better idea of how these trends may change in the future.
Be Vigilant About Viable Financing Options
While it takes money to make money, you don't have to use all your own money. A common misconception about real estate investing is that you must be wealthy to start off. This isn't straight fact, however. A majority of people can test the waters of real estate investing without a lot of initial cash in their pocket.
Aside from traditional financing options from banks and institutions, private lending options can be worthy solutions. Hard money lenders are popular, reasonable choices, and they tend to have fewer qualification requirements upfront. However, be sure to strategically choose a hard money lender to find the best possible fit.
Master the Art of Finding Good Deals
There may be hundreds of thousands of available properties for sale on the current market, but the bulk of them will never amount to the final money-making result you desire. Another great tip for new real estate investors is to use good math to estimate profit. Taking risks is part of the process, but you have the ability to analyze properties and use networking sources to find the greatest deal. You can't win every deal, but you can steadily work towards a thriving financial future.