Jessica Merritt

2 days ago | money.usnews.com | Jessica Merritt |Emily Roth |Ray Frager

Getty ImagesBe sure to pay your balance in full before interest charges apply, or you'll wipe out the value of your rewards. Key Takeaways You might be tempted to overspend for credit card rewards, especially when chasing a sign-up bonus. Carrying a balance can result in interest charges that quickly wipe out the value of rewards you've earned. Spending within your budget and paying off balances before interest charges apply is the best way to benefit from rewards.

3 days ago | usnews.com | Jessica Merritt |Sebastian Oliveira |Mark Evitt

Key Takeaways Though it depends on your financial situation, you should try to have enough savings to cover three to six months of expenses in case of an emergency. Stashing 20% of your monthly income is a good way to start building your savings. You can continue to grow your savings by using a budget, automating your savings and managing your debt.

4 days ago | money.usnews.com | Jessica Merritt |Emily Hayes |Ray Frager

Getty ImagesThe quick and limited application process makes BNPL options attractive to consumers with limited access to credit. Key Takeaways BNPL offers short-term affordability, but mismanagement creates budgeting risks. Credit cards can provide rewards and credit-building benefits with more flexibility. BNPL isn't likely to replace credit cards but may become a tool for managing specific purchases.

1 week ago | money.usnews.com | Jessica Merritt |Gina Freeman |Ray Frager

Getty ImagesIt's important to note a reverse mortgage is still a loan, and the balance will eventually be due. Key Takeaways Homeowners 62 and older can access home equity with a reverse mortgage. Reverse mortgages can be good for aging in place and supplementing retirement income. They also have drawbacks, including costs and decreased home equity. Reverse mortgages are specialized home equity loans for homeowners age 62 and up.

1 week ago | usnews.com | Jessica Merritt |Colin Hogan |Mark Evitt

Key Takeaways Local banks excel at handling complex or urgent banking needs. Many community banks offer competitive digital tools, including mobile apps. Working with a local banker whom you have an established history with can help you reach your financial goals. Online banks have changed the way consumers manage money. With the ability to instantly open an account and to manage your money at your fingertips, banking has never been more convenient.