
The 10 best personal finance books of 2022
These 10 money-themed books can help you improve your finances.
Automatic payment is a term it pays to understand. Bankrate explains it.
An automatic payment is an arrangement with a creditor that allows the creditor to periodically withdraw money from a credit card, checking or savings account to pay a bill. It is normally used for regular monthly payments such as a mortgage, rent or utility bills.
In general, there are five ways to make a payment to a creditor: by phone, by mail, in person, online or automatically. When automatic payment is set up, debtors can simply “set it and forget it.” As long as they maintain enough money in their bank accounts to cover the monthly payment, there is little to worry about.
The advantages of making automatic payments include:
Read here for more about online banking.
A consumer has an auto loan and is worried that he will forget to make a payment. He asks his lender if it offers an automatic payment option. The lender requires him to sign an agreement that permits the lender to take the payments automatically from his bank account.
Many lenders allow their customers to set up automatic payments directly through their websites. In this case, the customer would log on, designate the account from which he wants the funds debited each month, and agree to a specific date.
Signing up for automatic payments through a company website has at least two benefits: First, the customer has 24/7 access to account information, including how much he owes. Second, he can make changes to the agreement, if needed. For example, if the borrower decides that he would like to make a larger payment each month in order to pay the loan off early, he can log on and request that a larger amount be debited from his account.
Use our calculator to figure out your monthly payments on a loan.
These 10 money-themed books can help you improve your finances.
There are many ways scammers can steal identities and use them for gain, usually of a financial nature.
A significant portion of Americans experience financial worries.
Identity theft is a term that covers a variety of crimes in which someone steals another person’s personal information.
Look for a plan with a reputable provider that offers services that make you feel confident.
If you discover the breach early and act without delay, you could minimize the damage.
Here’s a breakdown of where identity theft occurs most often, according to FTC data.
Stay alert and don’t think identity theft can’t happen to you.
You can report ID theft to the FTC and your local police department.