Cash News Since its creation in 1934, the Federal Housing Administration (FHA) has insured home loans so lenders are financially protected should you default on your mortgage payments. This makes it more attractive for lenders to issue mortgages — especially to first-time home buyers and low-to-moderate-income households, making homeownership possible for borrowers who may not […]
Cash News If you want to save more for retirement, you’ll be allowed to tuck away a little extra in an individual retirement account (IRA) next year. The IRS recently announced the 2024 IRA contribution limits, which are $500 more than the limits for 2023. In 2024, you can contribute up to $7,000 to a […]
Cash News Does saving money feel like a challenge, even if you earn a decent income or keep a tight budget? It may have something to do with where you live. Factors such as how much you earn, the price of daily essentials, housing costs, taxes, and more can impact your ability to save, some […]
How much money has Senegal borrowed? More than previously thought, according to Ousmane Sonko, who became its prime minister in April. At a press conference on September 26th he said the previous government had “lied to the people” by hiding loans worth 10% of GDP, enough to push the country’s public debt to 83% of […]
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The career of Andrea Orcel vividly encapsulates the recent history of European banking. At Merrill Lynch, now part of Bank of America, Mr Orcel advised on deals that formed part of the wave of mergers that crested in 2007, when a pan-European troika bought ABN AMRO, a Dutch lender. After the financial crisis of 2007-09, […]
Cash News Determining how much of your income should go to your mortgage should start with your budget and long-term financial plan, but there are also formulas you can use to help. One of the simplest is a rule of thumb to borrow a maximum of two to three times your household income to buy […]
Cash News Whether it’s a small emergency like a flat tire or a major one like traveling to care for an ill family member, life will inevitably throw some financial hurdles your way. Building an emergency fund and setting aside money for the future is critical, but how much of your paycheck should you save? […]
Cash News The Federal Reserve cut the federal funds rate this month, which means deposit rates are also beginning to fall. It’s more important than ever to ensure you’re earning the highest rate possible on your savings, and a high-yield savings account could be the solution. These accounts pay more interest than the typical savings […]
Cash News Making your home more energy efficient can help you save major money on your utility bills — but to save money, you first must spend money on those green improvements. This is where an energy-efficient mortgage (EEM) comes in. With an EEM, current homeowners and prospective home buyers can finance their energy-efficient improvements […]