Deferred interest promotional offers are often promoted similar to zero percent balance transfers, but they’re a little different. A deferred interest offer will backdate interest on your balance – assess the full finance charge from the start of the promotional period – if you don’t pay the balance by the time the promotional period ends. Always read the terms of your promotional offers to know whether you need to pay off the full balance before the end of the promotional period to avoid paying finance charges on the balance. You don’t want to be caught off guard with several months of finance charges added to your balance.
You’ll be charged a finance charge whenever: the transaction isn’t made under a 0% interest promotion you had a balance at the beginning of the billing cycle the transaction doesn’t receive a grace period, usually cash advances. Any billing errors that you’ve disputed in writing won’t be assessed a finance charge while your credit card issuer investigates your dispute.
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Consider a Robo-Advisor, One of the latest trends in investing is the use of robo-advisors, in which a company manages your investments with very little human intervention. Money is instead managed through mathematical instructions and algorithms. Some major discount brokerages including Vanguard, E-Trade and Charles Schwab have robo-advisors services, and there are a number of newer companies including Betterment and Personal Capital. The jury is still out on whether robo-advisors offer above-average returns. But in theory, using a robo-advisor will enhance your chances of making optimal and rational investing decisions. Moreover, as more investors turn to this automated approach, we may see the conventional finance models become more accurate as human behavior plays less of a role in how markets perform.
Even if you haven’t traded based on emotion, there may be other instances where you didn’t make the optimal investment choice due to a lack of information. Behavioral finance is a new field of study that examines this phenomenon. It looks at psychology and emotion, and seeks to explain why markets don’t always go up or down the way we might expect.
The Millionaire Next Door. In this newly updated book, authors Thomas J. Stanley, Ph.D. and William D. Danko, Ph.D. attempt to debunk the myth that most American millionaires have inherited their wealth. They even go as far as to identify seven common traits that are shared among many of those who have accumulated significant wealth. By demonstrating how hard work and smart investing have made millionaires out of average Americans, this book shows us that we too can be among the ranks of the wealthy. The book makes for a very interesting and motivating read.