In its nearly 250-year history, the U.S. has experienced more periods of inflation than deflation. The last big period of deflation occurred during The Great Depression. There was another smaller period during the Great Financial Crisis. Both coincided with a recession. During a recession and deflation, people lose their jobs, demand drops, and with it, prices. But for those who are able to hang on to their jobs and have investments, what should they look at for some of the best investments during a deflationary period? In this article, we'll explain how deflation works and offer a few strateg ..read more

Around 80% of mortgage borrowers in the United States have an escrow or impound account. In fact, these accounts are required by some lenders. These accounts hold money on behalf of the buyer to ensure certain payments are made on time - typically homeowners insurance and property taxes. This can help reduce liability and risk lenders take on, giving buyers access to better financing options. What is an escrow or impound account? Is it required? More importantly, how do you cancel an escrow or impound account if you don’t actually need it? This article will dive into all of those questions to ..read more

When you think of financial scams, you may think of Bernie Madoff and Nigerian Princes. But if you listen to enough “financial experts” on YouTube and TikTok, you may hear that the humble 401(k) is a scam. A 401(k) is a tax-advantaged retirement investment account offered by many employers. It's an account so basic that it may be a victim of its own success. Has the 401(k) scammed aspiring retirees out of their hard-earned money? We don’t think so, but we will explain why the account is being so harshly maligned ..read more

Choosing the right school for you can be difficult. Not only does the decision come while you’re still fairly young, but it can also be heavily influenced by external factors that end up not aligning with what you want. Take it from someone who’s been there. In fact, about one-third of college students transfer schools at some point before finishing their degree. And total transfers represented over 13% of all continuing and returning undergraduates last year. This article walks through the top reasons students choose to transfer, how to identify when the time is right, and what to d ..read more

The short answer is no, you cannot use a 529 plan to pay for SAT prep.  However, all is not lost. While SAT prep courses can be expensive, they don't have to be. There are affordable options to help you prepare for the SAT. Here's what you need to know ..read more

The goal of test prep is to learn tips and tricks that help maximize your time and performance on a college admissions test. Students are taught best practices for creating a study schedule, pacing themselves during the test, and using process of elimination to narrow down the answers. While not required, test prep can certainly help put you at ease on test day – and it is commonly correlated with higher test scores. SAT test prep could be free through online quizzes and books from the library to thousands of dollars for one-on-one tutoring.  ..read more

Curious how to become a billionaire? It's a question that got me thinking... Earlier this year, I was browsing social media and came across an interesting post. Someone asked a pointed question, which seemed particularly relevant as I was in Las Vegas at the time. “What do you need to do to become a billionaire?” With all of my personal finance and business knowledge, I began to ponder what my top advice would be. I came up with two answers pretty quickly. Here are my thoughts on how to become a billionaire ..read more

If you’re one of the 80% of taxpayers who will be receiving a tax refund this year, here's what to do with your tax refund according to experts. The average tax refund payment was more than $2,753, according to the IRS. That's a lot of money that you can put to good use. While you can probably imagine plenty of places to put your prized refund check today, you might not be thrilled with the choice tomorrow. Rather than spend all of your money frivolously, why not use it to boost your bottom line? Invest that money in one of the ideas listed below, and you can guarantee your future self wi ..read more

A Federal Student Aid ID (FSA ID) is a unique identifier that allows you to log in to Department of Education websites. You need this ID to complete the FAFSA online, view your financial aid history, accept loans, and select student loan repayment plans. The sooner you get your FSA ID setup, the easier it will be for you to manage everything related to loans and grants. Let's explore how to set up your FSA ID ..read more

Leap Year's extra day can serve as a reminder to stop and evaluate. An extra day in the year represents an opportunity to earn more money, pay off debt, or think long term about your finances. Here are a few of the best ways you can use a Leap Year to maximize your finances ..read more