Depending on what you expect from your personal finance software, AceMoney can take the place of Quicken, Microsoft Money, and other titles. What’s missing in AceMoney is the ability to download transactions from all major financial institutions and online bill pay. The investment reporting could be stronger, but the multiple currency support is good. Another strong point is the online user community that’s available for getting help, although the help feature in the software explains how to use all features quite well.
In a separate section that breaks down your interest charges, you’ll see a break down of your finance charges by the type of balances you’re carrying. For example, if you have a purchases balance and a transfer balance, you’ll see details of the finance charges for each. This is because these balances often have different interest rates and grace periods. How to Pay Off Your Finance Charge. Making your minimum credit card payment, which is printed on the first page of your credit card billing statement, is usually enough to cover your finance charge plus a small percentage of the balance. However, if you’re only paying the minimum payment, your balance will shrink at a small pace since so much of the payment goes toward paying interest. You’ll need to increase your minimum payment if you want to pay off your balance faster.
#business lending#cit lending#quicken loans#financial industry#cornerstone mortgage company#wholesale mortgage#define financial#business loan center#first mortgage corporation#specialized loan servicing#green tree servicing#global equity finance#summit mortgage#entrepreneur loan#nationwide home loans#monster mortgage#long beach mortgage company#countrywide home loansrating
If you continued making minimum payments and no additional charges on this account, you’d pay $18.00 in finance charges over the course of a year. Why Does the Billing Cycle Matter? Credit card companies state your interest rate in terms of an annual percentage rate, or APR, to make it easier to compare various credit cards and loans. However, you are not charged interest on an annual basis. You’re charged interest periodically based on your billing cycle. Including the billing cycle in the finance charge calculation ensures you are charged interest only for that specific period of time.
If your credit card issuer uses the average daily balance method to calculate your finance charge (check your credit card statement or terms and conditions to confirm), you can use these instructions to estimate your finance charge. You’ll need to have an idea of what your average credit card balance will be. Your credit card agreement may include a minimum finance charge that’s charged anytime your balance is subject to a finance charge. For example, your credit card terms may include a $1.00 minimum finance charge. If your calculated finance charge for a particular billing cycle is only $.65, you’ll be charged a $1.00 finance charge for that month.
The Courage To Be Rich. Suze Orman has become a household name in personal finance, in part due to her popular television show and her best-selling books. The Courage to Be Rich is but one. What makes this personal finance book different is that it is not a nuts and bolts book about money. Rather, it is a look at the emotional and psychological barriers that keep us from realizing our full financial potential. The book is a must for those who have not yet taken control of their financial future because they are being held back by attitudes about money.