Author: Joe Botticello

Credit cards are one of the most popular payment methods today. Whether managing monthly cash flow, making large purchases, covering unexpected expenses, or earning valuable rewards, credit cards are the go-to payment method for most.   They’ve become so commonplace that people often forget credit cards are loans. And with any loan, the most important factor is the interest rate. However, due to heavily advertised rewards programs, the rate is rarely the deciding factor when choosing a credit card. This oversight leads many to become entangled in high-interest debt that’s difficult to manage and ultimately drops their credit score.  Whether you’re…

Are you using direct deposit yet? If not, there’s virtually no reason not to make the switch. The term simply refers to your employer or other income source depositing your paycheck electronically into your account. This is a very secure process, and one that is being used by millions of people every day.  In fact, many people see direct deposit as one of their top money management tools. Your employer can usually help you set it up within a few minutes, and once in place, you never have to think about depositing another paper check again.  Why Direct Deposit Your…

One of the most powerful tools when it comes to buying a new or pre-owned vehicle is a preapproval. With a preapproval, you’ll have the upper hand when it comes to negotiating with dealerships, you will be protected against unnecessary add-ons, and you will stay within your budget.  What Is a Preapproval?  Nowadays, you can stop by practically any dealership and buy a vehicle without applying at your financial institution first. While this might be more convenient for some people, it could also cost you quite a bit of money.  To get preapproved, all you have to do is apply…

We all have financial goals, and different goals require different tools and tactics. Whether it’s taking a well-deserved vacation or securing your golden years, how you save is just as important as how much you put aside.  For example, retirement planning relies heavily on tax-advantaged accounts and long-term investments. But what about short-term goals – those that you hope to achieve within two or three years?  Accounts for Short-Term Goals  There are a variety of accounts to help you save money. Three of the most popular and widely accessible are traditional savings, money market, and share certificate accounts.   Each option…

It’s always a good plan to set some money aside to use as a down payment when financing a new or “new to you” car. As a general rule, you’ll want to pay 20 percent of the vehicle’s value as a down payment for a new car and 10 percent as a down payment for a used vehicle. This makes tax season an excellent time to shop for a car and use your tax refund as part of your down payment.   Below, you’ll find five reasons using your tax refund as a down payment works in your favor.  Your Down Payment…