Tag: financial

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Credit Financial

How to Book a Hotel Without a Credit Card

How to Book a Hotel Without a Credit Card

A vital part of any vacation or out-of-town trip is your sleeping arrangements. Hotels, motels, lodges and the like commonly require credit cards in order to book or at check-in. This can prove to be troublesome if you prefer to carry cash or don’t have a credit card.

It’s certainly possible to book a hotel room without a credit card. However, it’ll require a little bit of extra work to get done. In this article, we’ll explain why credit cards are commonplace among lodging facilities. We’ll also give you tips on how to find a cash-friendly hotel and other important tips.

Why Do Many Hotels Require a Credit Card?

Prior to the 1950s, cash was king in just about every establishment. However, credit cards and the idea of personal credit took the market by storm. So, lodging establishments have adopted a card policy ever since.

While this seems like a hassle to a non-card-wielding person, the policies are put in place to protect the establishment and cover any arising fees. Most commonly, the card will be charged a deposit when you check in and if you cause any damage to the property, they have a card on file to charge you with. If the hotel only dealt in cash, this opens them up to potentially having to cover expenses that were the cash-wielding person’s fault.

Finding a Cash-Friendly Hotel

Although most establishments require a credit card, it’s possible some will accept cash too. Many chain hotels will accept cash for payment including Hampton Inn, Quality Inn, Days Inn, and Holiday Inn. This may vary by location though, so it’s important to call ahead and make sure before trekking there.

If you prefer to book online, using a website like booking.com is helpful because you can filter your results to only show places that accept cash. Local establishments that aren’t affiliated with any chain may also be accommodating to cash payers too.

Booking Tips

Once you’ve nailed down where you’d like to stay, there are a few different ways you may choose to book:

  • Book online using your bank debit card: This will ensure you have a room reserved when you get to the hotel. In most cases, you won’t be charged until checkout, so you can always switch payment methods when you get there.
  • Use a travel agency to help you: Travel agencies are equipped to help accommodate all of your needs. If you don’t feel comfortable calling a hotel, a travel agent will go through the entire process for you up until you leave for your trip.
  • Use a prepaid card to book your hotel: if you don’t want your bank account information connected to the hotel in any way, you could purchase a prepaid card at any major grocery store and book using the prepaid/gift card.

Parting Thoughts

Whether you don’t have credit available or you simply just prefer cash, you can absolutely book a hotel room without a card. Booking a hotel without a card requires a few extra steps, but it isn’t impossible.

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Credit Financial

Can You Use PayPal on Amazon?

Can You Use PayPal on Amazon?

In the world of online shopping, PayPal has become one of the most popular and most convenient payment options. But can you use PayPal to shop on Amazon? The short answer to this is no. There isn’t an option to pay for your Amazon cart directly through PayPal.

However, you can use PayPal indirectly to make Amazon purchases by using the different debit and credit cards PayPal offers. Read on to learn more about how to use your PayPal account to shop on Amazon.

PayPal Card Types

PayPal offers four different cards that connect to your balance: PayPal Cash Card, PayPal Business Debit Mastercard, PayPal Key, or PayPal Credit. Each of these come with there own benefits and drawbacks, all of which will cater to your specific needs and intentions of use. Here’s a quick overview of each card type:

PayPal Cash Card

The PayPal cash card is a debit card that can be used once you set up a PayPal Cash Plus account. The account is free to set up and essentially functions as a bank account. Once you receive your debit card, you can use it anywhere and the balance immediately gets taken from your account balance.

Because it’s a debit card, there are no monthly fees or minimum balance requirements. You can also withdraw money at any ATM without being charged a withdrawal fee. When you set up a PayPal cash plus account, you also receive a routing and account number to facilitate direct deposits.

PayPal Business Debit Mastercard

This card works similarly to the PayPal cash card but gives you the opportunity to earn cashback. Unlike the cash card, you have to apply for the business MasterCard and if you’re approved, you’ll receive the card within 7-10 days.

PayPal Key

PayPal Key is a virtual debit card that functions similarly to the other two options mentioned above. When using this option to online shop, you receive a virtual card number expiration date and security code.

PayPal Key is also free to use and doesn’t require a credit check or a complicated application process.

PayPal Credit

PayPal Credit is a revolving credit line that gives you a reusable credit line to make online purchases. Because it’s connected to your PayPal account, you have the option to pay your credit balance right away or over time and it’s easy to apply for too. This option is subject to credit approval through Synchrony Bank.

How to Use PayPal to Shop on Amazon

While you can’t pay for your Amazon cart with PayPal directly, you can use the options we mentioned previously to complete your purchase. You have the ability to use a PayPal cash card, the business counterpart, or PayPal Key to purchase right away. However, Amazon doesn’t allow you to use PayPal credit to directly pay for your cart.

There is a way around this, though. If you only have PayPal Credit, you can visit any major retailer that offers Amazon gift cards and purchase one there. You’ll then be able to use the gift card to purchase your cart.

Despite the inability to directly use PayPal on Amazon, you can certainly cheat your way around the restrictions.

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Credit Financial

How To Cancel a Pending Transaction

How To Cancel a Pending Transaction

Pending charges on your account happen. When the merchant has charged you for a payment, but your credit card company or financial institution hasn’t caught up yet. This happens every time you swipe your card or make a payment online. However, most transactions are completed so fast that you’ve got a notification on your PayPal or banking app almost instantly.

If you’ve got the funds available or you don’t have any upcoming bills, this isn’t usually a problem. But when your rent and other bills are due or you just simply can’t afford the hold to stick around, you have a couple of options.

Reasons to Cancel a Charge

In some instances, the charge you see is more substantial than you were expecting. When you check into a hotel room or rent a car, you’ll often be charged a deposit. Also, gas stations often place a hold when paying at the pump. These pending transactions can make things challenging. While they usually clear quickly, sometimes you are stuck with the charges longer than expected.

How Long Can a Pending Charge Last

Most situations leave you with your money back in your account within 24 hours, but this isn’t always the case. Some charges stick around for up to 5 days. How long they last depend on a few factors, including when the transaction was made as well as how long the vendor takes to process payments. If you paid with a credit card, the charge will probably last a few days.

The drawback to these pending charges is that they impact your available balance immediately. Most people can’t afford that extra $100 hold for paying at the pump, especially for nearly a week. If you have a charge that needs to be cleared up ASAP, the process depends on your form of payment.

Credit or Debit Card

The credit and debit systems are so similar and nearly instantaneous these days. You can dispute or cancel pending charges in more or less the same way in either case. Once the merchant has released any holds that they have applied, a pending charge can be removed by contacting the bank that issued the card. It doesn’t matter if it’s a credit or debit account.

In some cases, they may not be able to remove a pending charge. However, once they confirm that the merchant has canceled the transaction on their end, they will often advise that the pending transaction will disappear within a business day or two.

PayPal

If you have a pending charge through PayPal, and you need to cancel it for whatever reason, their interface makes it exceedingly easy to cancel or dispute charges. If the pending charge is fraudulent, explain this to their support team. They will often be able to instantly credit your account the disputed amount while the process is finalized on their end.

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Career & Education Education Financial Loans

What Is A Preferred Lender List?

What Is A Preferred Lender List?

A preferred lender list is usually used by colleges to help students find lenders for private loans. Private loans may be needed if there is a gap between federal loans and scholarships. Usually, colleges will have certain criteria for private loan companies and the preferred list allows them to show students who meet the requirements.

Preferred lenders will also offer some of the same benefits as federal funding, such as loan deferment and forgiveness. Customer service is usually also better because they have worked with thousands of students before.

Colleges do not benefit from the lenders in any way financially. This means these lists will always be reputable and students don’t have to worry about being scammed.

Is choosing a preferred lender required?

No. Students do not have to pick a lender off of the preferred lender list. They can use any company or financial institution to take out private funding. Always have students research any possible lenders and let them pick the best one for their needs.

Loans are not one-size-fits-all. Everyone may need something different. Consulting the preferred lenders’ list though can make choosing a lender much easier. Most of the companies have years of experience and reviews from other students.

This allows the student to see how they have helped people before and gives them peace of mind when it comes to reputation. It will also help students narrow down potential lenders faster. They can know that the list is reliable and takes away some of the burdens of having to do hours and hours of research.

Are private loans always needed

Not all students have to take out private loans to go to school. Some students will receive scholarships or grants. The federal loans may also cover the amount needed. However, private loans are becoming more and more popular and needed with the sharp increase in tuition rates.

There are a few things you can do before looking into private lending. Also files a FAFSA every year you are in school to see if you qualify for any grants or other money that you don’t need to pay back. You can also ensure that you get federally funded loans which may have less interest rates and longer repayment plans.

Federal loans will usually give you more protection and fixed interest rates. They also don’t usually require a co-signer or credit score, which gives the student more options when borrowing.

After trying FAFSA and federal loans, students can use the preferred lender list to ensure they pick a good lender with a good reputation. It will also help students narrow down the search for finding good lenders.

Not all colleges have extensive preferred lending lists though. Larger colleges tend to have more options than smaller schools. Always ask around and see what other students have used and what has worked the best for them. Financial aid officers should also be willing to advise students and make sure they are making good loan decisions.

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Debt Financial

Investing When You’re Living Paycheck To Paycheck

How To Invest When You're Living Paycheck To Paycheck

High living costs and stagnant wages leave millions of people left with nothing but a small amount every month. Do you have a lot of expenses like bills, travel expenses, saving for retirement, grocery, and a lot more? Many people who are living paycheck to paycheck think they cannot invest some money for the future. Well, that’s not the case, as you can make some investment by using your money wisely.

So, here are some realistic approaches to invest when you are living paycheck to paycheck.

1. Consider Micro Investing

If you find it hard to spare some amount and save in your account, Micro investing is a good idea.

Start an investment account with the least amount of money that you can save monthly. You can also use an easy app like Robinhood, Acorns, Public.com, and many more. Then you can link the app account to your bank account. Thus, whenever you buy anything, your change will automatically get invested in your account. 

2. Cut down Your Expenses

Set your budget for monthly income and expenses; it always helps. In this case, you can reduce the amount for the less essential and extra expenses. It may not be as easy as it seems; however, it will bring an outcome if you try consistently.

By cutting down some expenses, you will have some amount by the end of the month. Besides, you can choose a cheaper service to get rid of the heaps of expenses.

3. Purchase a Portion of Shares 

Are you keen on investing your money in a company in the form of dividends? Financial investing involves buying a portion of a company’s shares instead of going for the whole. So as the company’s shares fluctuate up and down, you will get your dividend in the same way. 

4. Utilize Any Bonuses or Extra Income for Investing

Here is another idea that sounds beneficial! You can invest extra money and the bonus you get. You could utilize multiple ideas like purchasing the old items and selling them again. Invest in any shop to get a monthly return, and you can also do many more things. 

5. Set up an Emergency Fund

It is the best practice that brings realistic outcomes. Even if you are left with a small amount after cutting down daily expenses, keep it safe in your money-saving jar. You can also set up an emergency fund to deal with unexpected expenses in the future. 

Final Thoughts

It is a stressful and painful experience to live paycheck to paycheck. You can fight against this challenging situation. However, you can build a better and wise strategy to come out of it. The above-discussed ideas are worth trying and do not even require any particular technique. So, choose any idea and start investing today. 

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Financial Loans Real Estate

Are There Downsides to Refinancing Your Mortgage?

Are There Downsides to Refinancing Your Mortgage?

Thinking of refinancing your mortgage? If so, then you should know that it’s not a great idea. Wondering why? Here we have mentioned reasons why you should avoid opting for this approach.

Savings Become Challenging

You will not be able to save money if you refinance your mortgage.  If your financial conditions have not changed after you have taken the first loan, then you may don’t have any greater change in monthly payments or interest rate.  It is important to note that there are fees of refinancing that you need to pay at the time of applying for it. Thus, you need to determine how much money you have to save to pay for the fees instead of weighing how much money you are willing to spend monthly.

High Costs

The most unpleasing disadvantage of refinancing your mortgage is the amount you need to pay to avail of the new loan. Generally, it ranges between $3,000 and $6,000 or more. This also depends on the amount of the new loan, your lower interest rate, and your discount points. Not to mention, this expenditure shows what you have paid on the first mortgage. In a nutshell, you will be paying again to purchase the same thing.

Delayed Mortgage Payoff

In typical refinance conditions, you get more time on your loan. For example, in your 30-year loan, you have paid for five years. When you refinance your mortgage, you will add five years back on your loan term.  This means you will own your home for five more years unless you have to make additional principal payments. But if you stay with your current mortgage and pay your requisite payments, you can become loan-free in 25 years.

Refinancing Your Mortgage Takes Time

If you think that your application for refinancing will get approved the same day you apply, then you are wrong. Refinancing your mortgage is not a task that you can do in a single day. You will need time, resources, and money to secure a lower rate before applying for the loan. Some lenders also refuse to give more loans on your mortgage. There can be several reasons for it. For instance, a person who always makes delayed monthly minimum payments can get refusal on their refinancing application.

Bottom Line

Refinancing your mortgage simply means making your financial situation more unstable than before. You need to pay more premium payments for your new loan. Apart from this, you need to use all your savings to pay the fees of the mortgage loan. This is why it’s better to avoid refinancing and try to pay your current mortgage loan.

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Credit Financial

Questions All First-Time Investors Have Answered

Questions All First-Time Investors have answered

Being a first-time investor can feel quite daunting, especially if you feel you have inadequate financial knowledge. The fact is that not all of us have studied business or finance related degrees and we all learn essential things along the way, so you really have nothing to fear.

Here are top 11 questions that first-time investors have answered.

Is Paying Off Debt Necessary Before Investing?

One needs to take stock of their personal risk tolerance, goals and financial situation. There is no answer to this question and you can only draw your conclusion by seeing your personal debt size, interest rates and how you will balance your investing goals with debt repayments.

Can You Define Risk Tolerance & How To Figure Out Mine?

Risk tolerance is merely how much you are willing to stake. You can figure out yours very simply. If you stay up at nights fearing that a down market may bring down your investment portfolio, then honestly, the risk is bigger for you.

If instead, you worry about missing an earning potential then you are making conservative investments. The best way to quantify your risks is to work with a financial advisor.

Where Do I Begin My Investment Knowledge & How Do I Increase My Confidence?

Most investment education is honestly self-taught and you can find a plethora of materials now for educating yourself. From online resources to scholarly journals or a single book like Bogleheads Guide to Investing, you can learn all you need here.

Basic knowledge and joining communities like Public can help will broaden your financial literacy and confidence.

What Will I Get By Investing In The Stock Market?

No market is risk-free. You must note that natural disasters, political events, consumer emotions, terrorism, earnings etc. can impact the markets. Over the long-term, you can enjoy annual return rates, corporate bonds, cash equivalents/cash and treasury bonds too.

When Is The Right Time To Invest?

The simple rule is to invest your money when you believe it will grow over a period of time. your goal must be to invest it into something that will appreciate over time, like stock shares, real estate, index fund, art collectibles etc.

Can I Lower My Risk Of Investing?

Being well diversified is one sure way of minimizing investment related risks. This method involves investing your portfolio in various assets, including cash, bonds, stock and real estate etc. Economic events have a different impact on how each of these assets will react.

Diversification is the way to ensure you get higher returns with lower risks.

How Much Should I Start With?

The truth about investing is that single stocks can cost you thousands of dollars. If you’re not up for that just yet, you can find several platforms that have removed account minimums to facilitate the beginners in investment. At the very least, you will surely get to enjoy fractional shares.

This way, even starting out with a $20 investment, including a small stock portfolio will give you hands-on experience, some returns and flexibility for your comfort level.

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Credit Financial

Credit Card Points: Rule of Thumb for Redeeming

Rule of Thumb to Redeem Credit Card Points

Are you unsure of how to redeem credit card points? If yes, let us discuss the rule you probably didn’t know about.

The saying goes that the best way to redeem your credit card reward points is by ensuring you secure as much value as is possible. If we were to give you a comparison, we’d say credit card points are an unofficial and unique form of currency. Hence, the rule of thumb here is to select redemption options equaling at least a cent each.

Often the most confusing aspect here is for people to decide which redemption option is the absolute best and will give the most value. History also proves that comparatively merchandise and gift card options are not the best ways to redeem your points. It would be better to choose cash back or travel options instead, if deriving maximum value is your goal.

If you want to measure your point’s value, you can divide your reward’s dollar value with the number of points you need to get it. Once you have a figure, if you manage to earn more than a cent for each of your point, trust us, you’re on the right track.

However, if you’re earning less than a cent, there is no doubt that you’re making wrong choices and getting bad end out of the deal.

Rule of Thumb

Here are a few tips to help you get the most out of your credit card points:

  1. Your primary aim must be to ensure that your rewards are aligning with your interests. If your goal is to use your income better, you’d be wise to choose a card that has a cash-back option on basics, such as purchasing from your regular stores, topping your fuel/gas etc. if you like traveling, you may want to choose a credit card that offer airline miles beyond your local hub.
  2. The trick is not choosing a rewards program that does not cater to your interests or needs. Be watchful for rewards that are actually a trap in disguise to make you spend more than you can afford, such as a sign-up bonus etc.
  3. Never underestimate the power of cash back rewards. They provide you with the most basic currency there is to spend just as how you desire. You can go back in recent history and check the stats that prove cash back is the favorite credit card reward of consumers.
  4. Do not get a credit card on an impulsive decision. Always take the time and effort to compare an offer with other credit cards. At the same time, you must always remember to check the rewards terms as well of the cards you’re already using.
  5. Do not make the mistake of carrying too many reward cards at a time. You may end up diluting your rewards value because of the way your spending goes haywire with owning several cards at a time.

Conclusion

When redeeming your credit card points, your primary goal must be to select an option that maximizes the value of your rewards, to a cent each or even more but nothing less than that.

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Financial Tax Services

Why You Should Get a CPA to Prepare Your Taxes

Why You Should Get a CPA to Prepare Your Taxes

There is nothing as annoying or necessary as filing your taxes. It is never any fun but is something that every American adult has to do every single year without exception.

You can always file your own taxes and it is rarely that complicated. It takes a lot of time and it can be boring but it doesn’t suck up too much time. However, sometimes you need extra help to get your taxes done. That help will come in the form of a CPA, a professional who is specially trained at filing taxes for people. When do you need the help of a CPA? What instances call for a CPA instead of doing the taxes yourself?

The IRS Contacts You

Uh oh, this is never fun. The IRS may contact you for any number of reasons, they aren’t always bad. But they are usually complicated and need to be handled in the most professional manner possible. Professionalism is exactly what you get with a CPA. They know exactly how to handle and deal with the IRS and they will make any interactions with them way, way easier and way less of a headache.

You Have a Side Gig

In this modern age, many people make their money with various jobs, or gigs. Do you drive for Uber? Maybe you deliver food for DoorDash. If you do, that could complicate the tax filing process and that means you need to bring in a CPA to get it done. You deserve to have an easy filing procedure and that is what you get with a CPA doing your taxes because you have multiple gig jobs.

You Own a Rental Property

Are you a landlord? Do you rent out a home or real estate investment? If so, a CPA should be employed when you are filing your taxes. A CPA will make renting a lot easier and will also be able to find all the deductions you could enjoy. Remember, these CPAs are trained professionals and they know how to file taxes accordingly and smartly. They will save you extra money and use all the tricks of the trade to make being a landlord easier than ever.

You Are Investing your IRA or 401K

Many people self-direct their Roth IRS or 401k money into investments in bonds, stocks, and mutual funds. Others invest in real estate with the money they earn from their IRAs or retirement funds. It can be a very smart and financially beneficial call, but it can also make filing taxes way more complicated. If you are doing this and making money this way, use a CPA to do your annual taxes to get rid of all the complications that these self-directing moves can make.

There are many reasons to use a CPA, from the ones listed above to the simple fact that they make filing your taxes a complete breeze. The fact of the matter is that you don’t need any reason to hire a CPA other than the fact that it will take your taxes out of your hair and make tax season a simple, laid back time. You can kick back and relax while others are stressing out about the IRS.

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Financial Savings

The Advantages of Investing in Your 20s

The Advantages of Investing in Your 20s

Some people may think an investment is a lifetime achievement while others take it as a way to secure money. However, both types of people wonder what the right age for investment is.

For budding young adults, the investment seems appropriate when they are stable, financially. And usually, this is rarely the case. There are others who start investing early for getting the advantages as early as possible.

The 20ish age bracket looks like the right time for you to start making investments, and you will notice its advantages during your retired life. How? Well, we will explain the reasons, to boost your confidence for an early investment.

Time and Investment

Early investment means, to start at an early age. Remember that earning opportunities and money may not be enough for young adults at an early age. However, they have one thing in plenty: time.

The timely investment can have benefits for investing $10k at age 22 that will grow to $80k by the time you reach 60 years. The same investment at age 30 will get you only $43K by the time you are 60. See, how time can affect your investments in a big way.

So, the longer time you invest money, the more benefits you can get from it. The mantra is, earlier the better.

Once you invest and the money kicks in, then you work to grow an investment by re-investing the earnings.

Take Risk

Young people, for example, who have a longer time span, have the potential to take on risk. Simple, most likely they won’t need the money for several years. Having more time means they can re-shuffle or re-invest their savings if any of their investment plans go wrong.

As the people grow, they limit their options by going for low-risk or risk-free investments, like bonds and certificate deposits, etc.

Longer Terms Plans

The long-term plans you may well start in the early 20s to get the best results at a later age. For example, Dow Jones fell over 50% in the 2008 recession. It started making gains by reaching a pre-recession position in 2013. The young investors waited for its recovery as they had time in hand.

Young investors can absorb such events because of the time they have in hand and their sights on longer investment plans. If you’re 25 now and planning to retire at 65, then you have a time cushion of 40 years for the investment part. So, young ones by investing at an early age can gain at a later age, the way it should be.

Experiencing

Young investors have everything on their side to get a first-hand taste of success and failure.

Investment plans and their management is not simple, it needs patience for understanding. Youth can overcome their investment mistakes because they have time to recover. 

Young age investments and their benefits will give you a better, retired life.

Technology and Right investment

The young generation has all the know-how, information, and knowledge to study, research and go for investment. Online trading hubs are providing all information and business data for such investments.

However, you can check that what investment will make you pay $190 per month now, and get its reward to a sum of $1 million in 40 years. The earlier you invest, the better you stay.

Conclusion

It does not mean investments are for retirement age alone. There are other investment plans like dividend stocks that provide support of the income stream throughout the investment span. 

20-something investments have definite benefits, and you should plan to make an early one, even if it is a small amount.