Inflation has a symbiotic relationship with interest rates, so in times of high inflation, the interest rates also tend to be higher. While this may look like a great thing for savers, it is a double edged sword. A savings account can be a safe place to leave your money and get a higher rate without sacrificing accessibility. You can leave your money in an account offering higher returns, with the reassurance that should you need the funds, you can access them.

However, while the interest rates may be high, the “real” value of your money is diminished by the higher rates of inflation. When inflation is higher than your savings rate, by leaving your money in the account for a year, it will have less real value.

Read our full article:

https://thesmartinvestor.com/banking/guides-banking/open-account-in-inflation/

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For years, Bitcoin enthusiasts have been predicting that cryptocurrency will continue to gain popularity until it becomes a true global economic force. Now, that prediction has come true.

Cryptocurrency market caps are measured in trillions of dollars, while applications of blockchain technology are popping up everywhere. If you want to benefit from this immense trend like many others, you need to educate yourself on cryptocurrencies.

Thankfully, the cryptocurrency space is extremely open and helpful to beginners. There are many people creating quality informational content and specialized courses to help you learn about cryptocurrencies.

Read the Full Article on The Smart Investor:

https://infoforinvestors.com/investing/alternative-investments/learn-cryptocurrency/

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Are you sick and tired of researching? Well, you’re not alone. The life insurance landscape is complex. There could be as many kinds of policies as there are insurance companies. Terms such as whole life, term life, cash surrender value, variable life are sure to baffle any newbie in the field.

What can you do?

If you’re thinking of purchasing life insurance — you will need an understanding of the basics. You have to learn the different types, how they work and how much they cost. After that, you can select which among them is the right insurance for you.

Read the Full Article on The Smart Investor:

https://infoforinvestors.com/insurance/life-insurance/types-of-life-insurance/

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Preparation is important when buying a home for the first time. The sooner you get started, the more likely you would get a good deal and avoid house poverty.

  • Understand Home Buying Process — Check if your state, city, or county offers perks to first-time homebuyers such as tax credits or special programs, which often combine low interest-rate mortgages with down payment assistance and closing cost assistance. Tax credits are also available through some first-time homebuyer programs.
  • Affordability & Home Type — The type of home you can afford is one of the first things you consider. Having an idea of the house and its market rate gives you a specific target to work towards. Affordability also implies factor

Read the Full Article on The Smart Investor:

https://infoforinvestors.com/home-buying/guides/questions-first-time-home-buyer/

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With both banks offering similar products, we need to look a little more closely at which bank is better.

Both banks offer a decent selection of banking products, but there are some key differences. While Capital One has a variety of credit card options, CIT Bank does not have a single one.

Both banks offer high yield savings accounts and CDs, but while you can access mortgages with CIT Bank, Capital One does not have any mortgages. Likewise, while Capital One has loan options, CIT does not offer loans. So, which bank is better will depend on your specific needs and preferences.

Read the Full Article on The Smart Investor:

https://infoforinvestors.com/banking/compare-banks/cit-bank-vs-capital-one/

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If a collection is reported it starts as an ‘unpaid account.’ Unfortunately, it’s considered a separate account to the other one. So you end up with two negative accounts. The other one is marked ‘charge off.’

You could end up with a serious drop in your credit score of up to 100 points from that too. Of course, it’s going to depend on how you’ve been doing this far. If you had a great credit score and go to collections it’s going to hit harder. Not only that but it’s going to stay for up to seven years. Lucky for you it starts to be less of a problem each year until then.

Read the Full Article on The Smart Investor:

https://infoforinvestors.com/loans/personal-loans/remove-credit-reports-collection/

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The good news is that it is now free for everyone in the United States to place a freeze on your credit report. On 2018, the Economic Growth, Regulatory Relief, and Consumer Protection Act quietly went in effect and made it free for consumers to freeze, thaw or unfreeze their credit report.

A credit freeze blocks any lender from approving new credit in your name. Before the act came into being, consumers paid a fee to add or remove a credit freeze and it varied from state to state.

Read the Full Article on The Smart Investor:

https://infoforinvestors.com/credit-cards/guides-credit-cards/credit-freeze-guide/

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Baruch Mann (Silvermann)

Baruch Mann (Silvermann)

Personal finance expert, investor for more than 15 years, digital marketer and founder of The Smart Investor (https://thesmartinvestor.com).