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Routing number vs. account number
What’s the different between the Routing Number and Account Number?
The routing number is the 9-digit number on the bottom-left of the check. It identifies the bank, the bank’s location, and the branch.
The account number is usually between 8 and 12 digits. The account number is specific to you and is necessary for all transactions.
Need a checking account? Shop rates here.
Looking to start saving instead? Check out the table below with rates for different banks.
The post Routing number vs. account number appeared first on Cashlorette.
Deals on wheels: Now is a great time to buy a new car
Fall is officially here, and between all those PSL runs and pumpkin patch Instas, we’re also cruising in the fast lane toward a whole new season of discounts, including deep deals on a new set of wheels.
One of the best seasons to purchase a new whip? Autumn. This is because new model cars are introduced in early fall, so dealers are ramping up their efforts to get rid of current-year models. Granted, the best deals will not be on the newest model cars, but if you’re smart about your spending, you won’t be shopping those models anyway.
If you really want to put the pedal to the metal when it comes to your savings, you need to be super strategic about when you shop. Simply waltzing into a dealership whenever you get the urge to splurge isn’t going to get you the best deal.
The budget breakdown of an Arkansas couple’s $65k combined salary
In this recurring series, young women from all over the country are coming clean about how they’re actually managing their money, honey! For one week, the confessor tracks all of her transactions, shedding light on how much she spends and saves. I’m breaking down her budget, helping her find areas where she can improve, and giving her props when she makes great money moves. Want to volunteer as a Cash Confessor? To spill your spending and saving secrets, slide into my Twitter DMs @thecashlorette!
These 6 home decor items look luxurious, but cost a lot less
Hilarey here (@HilareyAnn), editor of The Cashlorette, helping Sarah every day to empower readers to live their best lives for less. The following post contains affiliate links for which The Cashlorette may receive compensation when a user clicks on those specific links or makes a purchase after clicking on those links. The products and/or services referenced and linked on this post are made at the sole discretion of the author, and the compensation received will never influence the content, topics or posts made in this blog.
How do you make your home look like a million bucks?
Don’t have money for a down payment? This new mortgage aims to fix that
When it comes to mortgages, there might soon be a new kid on the block.
Federal Reserve economists are flirting with an idea of a no-down-payment mortgage, according to Bankrate. This new kind of mortgage would operate as a 30-year, no-down-payment mortgage featuring a fixed monthly payment that is established with your lender.
Down with this whole “no down payment” type of deal? You’re probably not the only one.
Rising rents and crippling student loan debt have seriously made it hard for many young people to scrape together the savings required for a typical 20-percent down payment. The national median rent rose 3.6 percent in 2016 to $841 a month, which is the highest annual spike in years, according to Census data.
What’s a mortgage?
So… what IS a mortgage?
A mortgage is a loan from a bank or a financial institution to buy a house!
How?
A mortgage is secured by the home itself, so if the borrower defaults, the bank can sell the house and get their money back.
Mortgage payments are usually monthly. Payments have four components: Principal, interest, taxes and insurance.
Most importantly: The terms of the mortgage determine how long you have to pay it back, plus how much dough you owe up front!
Terms and conditions also specify the interest rate and whether interest is fixed or adjustable.
Ready to find a mortgage that fits your budget? Check out the rates below. Happy house hunting!
The post What’s a mortgage? appeared first on Cashlorette.
4 financial factors to know before applying for a loan
Getting approved for a loan isn’t as easy as popping in to talk to someone and pinky promising that you’ll pay them back.
But, you can do it!
Lenders look at a laundry list of factors before letting you sign on the dotted line. Make sure you know these four things about your finances, and you’ll be approved in no time.
1. Your financial history
This one’s a biggie.
Lenders will definitely want to know what your financial history is, and will especially want to know one, three-digit number: your credit score. It provides them with a good indication as to whether you’ll be able to repay your loan in a timely way. This is because your credit score is kind of like a snapshot of your credit history; it takes into consideration v. important factors like payment history, amounts owed, length of credit history, new credit and types of credit in use.
Freebies and deals are brewing at Dunkin’ Donuts, Krispy Kreme and more for National Coffee Day
Whether you like it iced or steaming, with cream or sugar, coffee is a staple beverage in almost everyone’s diet. It gives you the jolt you need to start your day and powers you through your afternoon slump. If I could get drip coffee in IV form, I would.
But your cup of morning joe isn’t always good for your bank account.
However, Sept. 29 is National Coffee Day, so indulging in a steaming cup of coffee at your local coffeehouse has never been cheaper! Big chains and local stores alike are offering deep discounts in celebration. So put down your pretty PSL for a sec to celebrate the OG of caffeine: coffee!
Here’s a taste of the freebies and discounts going down on National Coffee Day, and be sure to check your local coffeehouse for its deals, too:
What’s a good credit score?
Real talk: There are a lot of numbers out there that you probably stress over throughout the day. The digits flashing on your FitBit, the commas in your bank account and the number of calories in your bacon-egg-and-cheese.
But there are three little digits you especially need to pay attention to, as they could have a major effect on your financial freedom. I’m talking about your credit score.
Why a good credit score matters.
Your credit score gives lenders a good snapshot of what type of borrower you’ll be, so you really need to take it seriously. It’s all fun and games until you can’t qualify for a mortgage, ya know?
Deal Alert: New PEOPLE Perks membership program offers up to 50 percent off in discounts
PEOPLE magazine might dominate the celeb gossip scene, but now it’s stealing the spotlight when it comes to savings with a new digital rewards program.
On Wednesday, Time Inc. announced its new membership program called PEOPLE Perks, offering deep discounts and deals across a range of categories for a low monthly or annual fee. Savings are offered across a range of categories, including entertainment, style, food, beauty, pets, home and shopping.
PEOPLE Perks claims to offer discounts of up to 50 percent off, saving consumers an average of $1,200 or more a year. Participating partners include big brands like Macy’s, Best Buy, Olive Garden, AMC Theaters, Marshalls, Walmart, and Bed Bath and Beyond.
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