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Advantages and Disadvantages of Savings and Checking Accounts

important milestone of young adulthood is opening the first checking and savings account. Considered basic financial tools, checking accounts are beneficial for paying bills, and savings accounts are beneficial for keeping your money safe while preparing for your future. While ...

The Advantages of Joint Checking Accounts in Marriage

rriage means combining belongings, responsibilities and, often, money. The decision between joint and separate bank accounts comes with arguments on both sides, but the final call comes down to your personal situation. Understanding joint checking account benefits helps you ...

How do I Attract a Lender for an Equity Loan?

equity loan is typically a sum of money you borrow from a financial institution using your house as collateral. Equity loans are typically easier to apply for and be approved for than standard loans because the qualification criteria is based partly on the value of your home as ...

What Are Back-to-Back Swaps?

aps are derivative securities. A derivative is a financial tool that is based on (or derived from) another investment. Also known as a reverse swap, a back-to-back swap consists of two swaps working together. Each swap in a back-to-back structure cancels the other one out. This ...

What Is a Bank Guarantee (BG)?

a perfect world, a person's word would be his bond. Whether doing business with your next-door neighbor or on the other side of the world, you would be confident of receiving payment for your product or service. Because business transactions can't be built on trust alone, ...

How to Calculate the Interest Expense of a Floating Credit Line

oating interest rate credit lines allow you to borrow on an as-needed basis and only pay interest on the amount of the credit line that you're actually using. Having a floating interest rate on your credit line means that before you calculate the interest expense, you must ...

Can Banks Invest Money in Stock?

st investors keep some money safely deposited in a bank, and they use other money to make investments. However, even the money you deposit into your bank account might end up going toward stock. Even if your bank invests in stock, you don't directly take on any of the risk ...

Can a Creditor Freeze My Bank Account for Unsecured Debt?

en you default on a secured debt, the lender reclaims its collateral, repossessing your vehicle or foreclosing on your home. Unsecured creditors don't have this option, so they use other means – and some of them might take you by surprise. Unsecured creditors can and ...

Can a Parent Use the Money in a Child's Savings Account?

aching your children about the importance of saving and how to manage money is imperative, and it's helpful to start early. Most banks won't let children open savings accounts without the consent of an adult, who is ultimately responsible for the minor's account. If you're the ...

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