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Authorized cardholders can glean a ton of benefits by using your credit card. It's convenient, they can build up their credit score, and best of all they have access to your money. But, in the end, you as the primary holder will be held responsible for payments. Do you know what an additional authorized cardholder is? It's one of the interesting features of credit cards, and that's lacking in many forms of payment. With a credit card, you can add additional cardholders to your account, usually with no extra charge. However, there are some important benefits and drawbacks to doing so. How additional authorized cardholders work With most credit card account, you can request additional cards for authorized users such as family members, or in the case of small business credit cards, employees. You will receive soon another credit card with the user's name on it. This user can then make charges to your account, just like you would. However, the au...

Negotiating a salary is something that no one likes to do. From very early on, we're all taught that it's undesirable, dirty, and base to discuss matters of money. No one wants to come across as a greedy, money-hungry person. At the same time, people need to be compensated in accordance with what they deserve and, in many cases, the only way to get what you deserve is through negotiating. Therefore, salary negotiation tactics are in essential in any industry. Whether you're trying to secure your next job or just get ahead in your current career, negotiating skills are invaluable. Negotiating a salary is tough to do. Not only does it involve a measure of face-to-face confrontation that most people would prefer to avoid, but it also require some finesse with the negotiation process. But whether you're applying for a new job or trying to get a better salary from a current employer, knowing these tactics will help you get the pay you deserve. The key takeaways to rem...

Changing your behavior, at least temporarily, is the only way to fix the lack of savings in your life. Here are some tips to help you save money fast. According to GoBankingRates.com, half of Americans have less than $1,000 in savings as of 2017. That's a sad state of affairs, giving that savings is the foundation of even the basic form of financial independence. The sooner you get one or more of these strategies going, the higher up the savings chain you'll move, and a better life will go for you. To save money fast, try a couple of these.... Cut a few expenses and bank the savings This is the strategy that will take the least amount of effort. You pick two or three expenses that are least important, and eliminate them. This can be an unused gym membership, cable TV, add-on services phone services, or newspaper or magazine subscription. You can also cut out or drastically reduce "behavioral expenses". Examples include frequent restaurant meals, heavy entertai...

This month's Reddit challenge - file your tax return early - can ensure that you don't miss any important details on your return. Plus, it'll get extra cash in your pocket you can put towards debt. With tax season fast approaching, it's no wondering Reddit's March challenge is: "Prepare your tax return accurately and file early." Luckily, I already did this, because I'm too impatient to wait for the small chunk of money my tax return offers. But, for everyone else who doesn't do their taxes until the day they're due (hey, I went to college, I get procrastinating), this challenge is perfect for you. Today, I'll go step-by-step through the challenge, but if you're looking for a more in-depth guide to filing your income taxes, look here! Laying the groundwork Reddit gives you a well written plan to help you get started with your taxes. They want to not only help you file your taxes, but really learn how it works. After all, it'l...

You should avoid store-branded credit cards if you're getting them just for the one-time discount. But, for loyal customers, certains cards might be worth it. If you do a lot of shopping, you're probably heard the sales pitch: "You can get a discount on today's purchase if you apply for our credit card." The cashier may even push back if you initially decline. Its tempting, whether because of the discount or the low credit requirements. But the offer's usually not worth it, and here's why. Every time you apply for a credit card, the hard credit check can knock a few points off your credit score. So, it's important to avoid applying for credit unless you need it. As such, here are five reasons it's not worth applying for every store-branded credit card you see. 1. They charge high interest rates Many store credit cards charge upwards of 20 percent APR, much higher than the 14.89 percent average, according to the Federal Reserve. So, if you hap...

Home equity is great for homeowners looking to take out a low interest plan. But, while it comes with a lot of opportunities, there are some dangers in using your home as collateral. Owning a home has a lot of perks. You get to choose when to fix it up, how to paint and decorate it, and you're not at the mercy of a landlord. But there's an addition benefit to owning your own home--you can use your home equity to take out a loan. You might have heard of HELOC loans - or home equity line of credit. Simply put, this is just loan secured by your home. We've written about them before, but there's a lot to know about home equity and how you can use it to secure different loans. What is home equity? Home equity is the current value of your home minus any outstanding loans (i.e. your mortgage). Put another way, it's how much you truly own of your home. The rest is how much the bank owns (i.e. how much you took out for a mortgage). So your home equity increases as you ...

It can be tough to shop for a reward credit card. Here's our list of which rewards points and miles are worth the most, to help make your decision easier. It can be tough to shop for a rewards credit. Not only are there hundreds of cards offered by dozen of issuers, but with the exception of cash back cards, nearly all offer rewards in the form of points or miles. But, some points or miles are worth more than others. Let's take a closer look. Credit card rewards American Express Membership Rewards These points can be transferred to miles with 16 different frequent flyer programs including Singapore, Air Canada, British Airways, Virgin Atlantic and Delta. When you redeem those miles for business class international awards, they can be worth as much as two-five  cents each. Chase Ultimate Rewards This program allows most cardholders to transfer their rewards to miles with nine frequent flyer programs, or four hotel programs. Transfer partners include United, Southwest, ...

If you're in a difficult place financially, lowering your mortgage payment can help you immensely. But this means you'll be paying more interest in the long run. Here's why you might want to lower your mortgage payments, and how to do it. A high mortgage payment can account for a large amount of your income, leaving you with very little to cover the rest of your regular living expenses. As a general rule of thumb, we recommend trying to keep your mortgage costs low, preferably under 30 percent of your take-home income. If you're wondering how to lower your mortgage payments each month, there is more than one way to achieve that goal. Here are nine ways to reduce your mortgage. 1. Extend your repayment term A simple way to lower your mortgage payment is to extend your term (which is also referred to as re-casting or re-amortizing). You don't need to refinance your mortgage to do this because most lenders will simply offer this service for a fee of about $...

It's easy to spend your tax return on frivolous things, but it's best to be responsible. Here are the top 5 things to do with your tax return. Most of us dread tax season. Even with sites like TurboTax, Tax Act, and H&R Block, we still have to sit down and fill out complex tax documents. Things get extra complicated when you're self-employed or own your own business. But, with taxes comes one exciting thing - tax returns! While it's not technically free money, getting a couple thousand dollars (or just a few hundred) feels great. It's ridiculously easy to spend that money on frivolous things (last year I spent a chunk of mine on a tattoo, for example), but there are better things you should spend your tax return on (don't worry, I also put some of my return in savings). This tax season, be more responsible and use your tax return to do one (or more) of these five things. 1. Apply for a secured credit card If you're looking to build credit...

Gender Pay Gap in 2018: The Long And Winding Road to Parity The International Women's Day, we bring you an in-depth analysis of the gender pay gap in 2018. It's 2018, and despite nationwide efforts to reduce and ultimately eliminate the gender pay gap, it persists. At the same time, considerable progress has been made in achieving equal pay. But a drill of various statistics indicates that only some of the pay gap can be attributed to outright discrimation, and some to tangible differences in the occupations between men and women. For starters, the gender pay gap is real. But it's much more complex situation than most of us understand. Let's look at where we're at on this issue, where we've come from, and where we seem to be going. Where we stand on gender pay gap in 2018 According to the U.S. Department of Labor, women who worked full-time, year-round earned 79 percent as much as their male counterparts as of 2014. On the surface, it looks like a bleak st...

Older students have lots of options, from online courses to professional certifications to doctoral programs. Here's how to decide which route is right for you. School days aren't always over once you hit your mid-twenties. The percentage of students over 25 who pursue higher education will increase over the next ten years, according to the National Center for Education Statistics. Older adults have lots of options, from online courses to professional certifications to doctoral programs. Why go back to school? Adult students tend to have two main motivators: learning and earning. Associate's, bachelors', and master's degrees each qualify their recipients for higher-paying jobs. And pre-professional programs aim to transition students straight into careers. Here are a few scenarios which might make you think about returning to school: You want to move into a higher earning bracket and you're confident a degree will help. You want specific educationa...

Knowing when to rent, borrow, or buy can save you a lot of money. If you only use something once, always consider renting first. Here's some other instances where you should consider one over the other.  "Buy it for life" has become a rallying cry for the frugal-minded in 2017. Consumers are embracing the value of craftsmanship, opting to spend a little more for items they know will last. Most of the time, that's a great sentiment. While it's nice to own quality products that won't fall apart, sometimes buying is a waste of money - especially when you can't rent or borrow the same thing at a fraction of the price. For example, do you really need to buy a pricey tuxedo you may never wear again? Most people know it's better to rent a tux, but there are more options to rent and borrow than you may realize. Here are some of the best. Books, movies and video games According to the Pew Research Center, millennials are more likely to use the libra...

Drop, an easy-to-use app, lets you earn gift cards for the money you're already spending. Here's my Drop app review. Drop is an intuitive and easy-to-use app that lets you earn gift cards for the money you're already spending. Derrick Fung, the CEO of Drop, created the app after he began to understand the spending habits of younger generations - like Millennials and Gen Zs. He found that this demographic was spending more money on "extras" like gourmet coffee, organic foods, and Uber rides to their regular destinations. He also found that they're less likely to be brand-loyal if it meant saving money in some way. Thus, Drop was born. The app doesn't care which card you use, and it pits merchants against one another to provide you with the best offers. I'll cover this in more detail in the review below, but let's first dig into why this app makes so much sense first. Let's first geek out on some data Remember the days when you  had a...

Countless payment apps make spending easier, faster and potentially more rewarding--but you still have to decide which cards to use on the apps. Check out our list of the top credit cards for Apple Pay and Android Pay. Countless payment apps make spending easier, faster and potentially more rewarding -- but you still have to decide which cards to use on the apps. The best credit cards for Apple Pay and Android Pay are going to be the ones that make it easiest to earn the most points at brick-and-mortar stores, where contactless payment takes place. Here are a few to consider: Wells Fargo Cash Wise Visa Card: Same great cash back on all purchases If you're the type of spender who's less interested in using a different card at every store for every purchase in order to score the most cash back, the Wells Fargo Cash Wise Visa Card may be your best. This card offers an industry-best -- tied with a few other cards -- unlimited 1.5 percent cash back on all purchases. That mea...