Should I knock out my student loans before interest restarts? I am in my early to mid 20s and make $62,000 annually. I currently have ~$38,000 saved with $27,000 Federal Student loans (2.5%-5%) interest on the varying loans). I have no other substantial debt but live in a HCOL area with $1200 in rent. submitted by /u/michaelfw

Zero % interest not actually zero % interest but 82% TLDR: 0% interest was actually 82% interest Details: A friend was telling me about a huge financial mistake he made when he should have known better. He recently purchased a piece of jewelry for $900. The sales associate stated that they had financing option which if paid off in the stipulated time, he would not have to pay interest.The options …

Jalopnik Investigates: Is Travis Kelce Taylor Swift’s First ‘Car Person’ Love Interest? Taylor Swift is probably the most famous person in the world right now. She’s broken all kinds of records with her Eras Tour, is releasing a seemingly never-ending stream of albums packed full of bangers and is collecting awards like they’re going out of fashion. But now, the internet is ablaze with rumors of her… Read more…

World May Not Be Ready for U.S. Interest Rate at 7%, JPMorgan CEO Says U.S. rates at 7% could push the U.S. economy into a recession, triggering risk aversion in financial markets.

Ryan: ‘No interest” in leaving CBS to QB for Jets Former quarterback-turned-CBS Sports analyst Matt Ryan, 38, said he’s not interested in returning to play for the New York Jets despite a report that his agent had reached out to the team after Aaron Rodgers’ injury.

Living off the interest of Money Market Fund (VMFXX) As of today, the VMFXX yield is 5.29%. I do realize that it can change anytime or break the buck. Breaking the buck can happen but very highly unlikely. I currently have 90K inside VMFXX, and about 30K inside a Capital One HYSA yielding at 4.30%. I’m thinking of moving my 30K over to VMFXX making it a total of $120K that will earn a yield. I w…

Why is paying my HELOC so inconsistent with principal/interest? My minimum monthly payment is like $350 so I’ll typically pay double that. I’ve noticed some months that it eats up $650/$700 in INTEREST – shouldn’t it have paid the $350 (interest on that) and then $350 off the principal?? I have a prime example of a time I paid the minimum followed by $2,000 and a good portion of it was still interest and I …

I took out a $25000 simple interest loan in late July. So far have paid $2730 back, but $938 of that has gone to interest. Can someone help me make sense of this? It’s my first large/simple interest loan, it seems like a lot of money to have gone straight to interest payments over the course of only a couple of months. It’s through Wells Fargo. I know I just don’t really understand simple interest, but it just seems like a lot at 15.24% interest. Can someone please break it down for me so I can understand…

Fed Meeting: What to Expect on Interest Rates The Federal Reserve is unlikely to declare victory this week. But investors will watch for any hint that the end to rate increases is coming.

Mortgage loan estimate revised with 2 points added, same interest rate? I’m closing on a house Monday and would really appreciate some thoughts here. Background: Buying second house $605k Loan for 575k 800/800 credit scores 200k combined income p/year Plan on selling 1st house in a couple months at ~400k with 80k left on principal and using remaining toward refinancing 2nd house Loan Estimate came in last week at …

Crypto’s Interest in Rates Todd Groth of CoinDesk Indices explores the relationship between interest rates and bitcoin.

Paying off student loans later with lower interest rate My student loans currently sit at $55k. Since consolidating both my loans in 2016, the interest rate is now 5.63%. I started the application for an IDR plan and the estimated new payment would be $600. As of this month interest has started accruing. As the head of household, I make $100k a year; after paying the mortgage and bills, I have a lit…

Prioritize low interest private student loan or higher interest federal loans on new SAVE plan? Looking for input from outside sources. I have $10,000 that I’m looking to throw towards taking out a chunk of my student loans. I have a private loan with sofi with around $9,900 remaining and federal loans totaling about $72,000. I’ve listed the monthly payments and details below: ​ Private sofi loan: $9,900 @ 3.75% interest ($178 monthly paym…

The Difference Between a Mortgage’s APR and Interest Rate When shopping for a mortgage, you’ll likely encounter two key terms: Annual percentage rate (APR) and interest rate. While these terms often get thrown around interchangeably, understanding the difference between them can help you choose the best loan option. Here’s the difference between an APR and an interest rate,… Read more…

Mortgage payoff, Hi interest saving or SB Loc I have a 30 yr jumbo mortgage that’s >900k outstanding and taken at 5.7% last year , if I have 100k cash, what’s the best investment option I have I) pay off my mortgage principal to reduce interest Ii) invest in a high-yield savings account, that hopefully yields close to 5%, Iii) invest in securities, and maybe take a SB-Line of credit to pay …

Just saw that my student loan interest rates are all LOWER than the interest rate on my savings account. Should I just make minimum payments on the student loan instead of paying it off I’m able to pay off all of my student loans now, ~20k. However, I’m wondering if it makes sense to do so when my savings account’s interest rate is almost a full percentage point higher on average. Is there a reason for me to pay off the full loan now or should I just keep the money in savings? submitted by /u/Jacobie23

Mortgage Overpayment – Capital vs Interest Only (UK) Hi, I have a mortgage made up of part capital and repayment and part interest. I want to make a lump sum overpayment and I am not sure if I should pay it of the capital or interest only sub part. Which would be the most beneficial? Thanks. submitted by /u/Osprey379

I Don’t Have Much Interest in Talking to You, But Our Toddlers Just Started Playing Together at This Playground, So I Guess We’re Doing This What’s that, Mikey? A piece of playground mulch? Nice. Let’s put that in our bucket, okay? Oh, and who’s this? Hey there. Mikey, it looks like he has a piece of mulch for your bucket too. Can you let him drop it in? Very nice. Oh, and now you both want to keep collecting pieces of mulch, meaning I’ll get to keep standing next to this other adult…

May I interest you in a fudgy S’mores brownie? submitted by /u/BakersHigh

The “Magic” of Compounding Interest This may be a stupid question. If you split 2 different accounts that compound interest at the same or similar rate of return, would it yield the same or similar results as if you’d kept the total amount of money growing within 1 account? What I’m getting at is, does the amount matter when it comes to compounding interest? I’m trying to wrap my…