Conventional or Traditional Finance
The Best News Magazines That Cover Finance, Business, Markets and the Economy. The Economist: Although not a dedicated finance magazine, this is one of my all time favorite publications. I find the articles help me gain perspective on what is going on here in the United States by framing things in a more global context. The Economist describes itself as an ”authoritative weekly newspaper focusing on international politics and business news and opinion.” This one is a must read.
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If you want to calculate your own finance charge, you have to know your credit card balance for each day of the billing cycle. While your credit card statement won’t list each day’s credit card balance, you can use your statement (or your online transaction log) to figure out the balance. Start with the balance at the beginning of the billing cycle. Then, add or subtract from the balance each day you have new transaction. Let’s say your APR is 12% and your billing cycle is 25 days long. You started the billing cycle with a balance of $100. On Day 4, you made a $100 purchase. On Day 20, a $25 payment was credited to your account. Your daily balance for each day during the billing cycle would be: Day 1 – 3: $100. Day 4 – 20: $200 ($100 purchase). Day 20 – 25: $175 ($25 credit)
Balances With Different APRs. If you have balances with different APRs on your credit card, the finance charge for these balances is calculated separately. For example, you’ll have a finance charge for purchases, one for balance transfers, and one for cash advances if you had all these balances on your credit card. So, if you’re calculating your own finance charge, you will have to calculate the average daily balance separately for each.
Best for Debt Payoff: You Need a Budget. You Need a Budget. Courtesy of You Need a Budget. You Need a Budget is a personal finance app that’s built around YNAB’s Four Rules. The rules – Give every dollar a job, Embrace your true expenses, Roll with the punches and Age your money – not only help you build a better budget but also help you gain control of your spending. Import transactions from your checking account and apply them to each budget category to get an accurate picture of your spending. Keep a balanced budget by adjusting budget categories if you accidentally overspend (or if you underbudgeted for a certain category). Detailed reports show you how your spending is progressing throughout the month and help you spot places that you can improve your spending. According to YNAB, the average new user saves $600 in the first to months and more than $6,000 in the first year. You can try the app for free for the first 34 days.