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Homes that fall into this group might include heritage homes, or homes with special architectural or interior design elements. Of course, they may simply be a mansion. This type of insurance is a full package of coverages and is one of the most comprehensive you can buy. High-value policies provide much better coverage than a standard homeowners insurance policy. How High-Value Home Insurance Works If you have an above-average priced home, standard forms of home insurance that provide “average coverage” may not be enough to protect or replace your property if you file a claim....

You can cash money orders at numerous locations, including banks and convenience stores. How To Cash a Money Order Converting any money order to cash is a relatively easy process: The Best Ways To Cash a Money Order You can cash money orders at a variety of locations. But your best option is usually a bank or credit union where you already have an account. Your Bank or Credit Union Your bank or credit union probably provides this service for free, just as when you cash a check....

The People’s Bank of China The People’s Bank of China manages the yuan’s value. It keeps it fixed to a basket of currencies reflecting its trading partners. The basket is weighted toward the dollar since the United States is China’s largest trading partner. It keeps the yuan’s value within a 2% range against that currency basket. On Aug. 11, 2015, the PBOC modified this peg. The change uses a “reference rate” that is equal to the previous day’s yuan closing value....

What Happens When You Close a Credit Card When you close a credit card, it doesn’t fall off your credit report right away because it’s still within the credit reporting time limit. If you’re still making monthly payments on a credit card balance, your payment history will continue to be updated each month. Once you’ve completely paid off the balance, the credit card issuer will eventually stop sending monthly updates for that account since it becomes inactive....

It can pay to know how long it takes Series EE savings bonds to mature and to be able to calculate their maturity dates. Learn how to zero in on the bonds that are right for you. Series EE Bonds Maturity Dates Savings bonds work as zero-coupon bonds, which means your interest payments are added to the bond’s principal value instead of being paid out periodically. The difference in maturity dates for these bonds results from the differing rates of interest built into each Series EE bond when it’s issued....

How low will stocks go? It’s impossible to say for sure. But analysts have studied market data and historical trends to offer their best guesses about how stocks may perform in the future. With investors spooked by higher inflation and interest rates, soaring energy costs, and the war in Ukraine, the major indexes continued losing steam this week. The benchmark S&P 500, which so far this year has had its worst performance since 1970, at one point Friday fell to 3,810....

There’s no limit to how many Roth IRAs you can have, but opening multiple accounts won’t change the annual contribution limit. Depending on your situation, there may be some good reasons to open multiple Roths—and some potential challenges. You Can Have as Many Roth IRAs as You Want There’s no limit to the number of Roth IRAs you can open during your lifetime. Each IRA can have a different custodian (or financial institution) and beneficiary, and each account can hold different investments and pursue different strategies....

The motherhood penalty may not be fair, but it’s a reality that many women face. Understanding how this penalty is imposed on mothers—and how it affects their career outlooks—is essential for women as they shape their financial plans. What the Motherhood Penalty Looks Like In general, the motherhood penalty assumes that mothers cannot maintain the same professional footing as their male colleagues or women who don’t have children. This can play out in the workplace in several ways, but perhaps the biggest sting is how it affects a woman’s earning potential....

Projections Required Business income losses are calculated based on the amount of income your company actually loses during the time your business is shut down. The most your insurer will pay for a loss is the business income limit of insurance. To choose an adequate the limit, you must make the following two projections: These projections aren’t easy to make. Both are essential for determining the right amount of coverage for your company....

The traditional withdrawal approach uses something called the 4% rule. This rule says that you can withdraw about 4% of your principal each year, so you could withdraw about $400 for every $10,000 you’ve invested. But you wouldn’t necessarily be able to spend it all; some of that $400 would have to go to taxes. If this is the only way you’re looking at how much you can spend in retirement, you may want to think again....

The Internal Revenue Service (IRS) requires that you pay taxes on some of those benefits if your IRA or 401(k) withdrawals increase your overall “combined” income past a certain limit. When Will You Pay Taxes on Your Benefits? According to the IRS, you would have to pay taxes on your Social Security benefits if your combined income were more than the base amount for your filing status. This base amount can vary from year to year....

Dividends are profits the company distributes to shareholders. Companies don’t do this out of the kindness of their hearts—they are about making money for the owners. Dividends usually don’t represent all of a company’s profits. The company retains some portion for future use—in acquisitions or to retire debt, for example. Most companies pay dividends in the form of cash, although you may hear of occasions when a company uses stock instead....

What the Interviewer Wants to Know An interviewer will ask you this to see how you deal with a difficult situation or if you have had difficulty working with a manager. He or she will also ask this question to see how you view your relationship with your boss or other authority figures. Tips on Giving the Right Answer This is one of those questions that should be answered carefully. Interview questions about bosses can be tricky....

The Difference Between Private and Federal Student Loans Federal student loans are funded by the federal government. The terms and conditions of the loan are set by law. They may offer benefits that aren’t available with private student loans. The interest rate on federal student loans is typically fixed, meaning the rate stays the same for the life of the loan. Some loans may be subsidized—the government pays the interest while you’re in school....

The safest way to borrow online is to ensure you’re dealing with a reputable lender and keep an eye out for red flags. You risk two major consequences when borrowing money online. Losing money: Fake lenders can easily set up shop, promise the world, and charge high fees for approving your loan. But you might not get what you paid for.Paying too much: Even if you receive a loan, you might end up paying a lot (in fees and interest) to a bad lender—spending thousands of dollars more than necessary....

Make an Offer Above the Home’s Asking Price In a seller’s market or multiple-offer situation, going above asking price is a non-negotiable. “Refrain from giving low-ball offers, especially when in tight competition with other buyers willing to bid higher to win the property. You’re likely to spend more money when you refuse to settle for a higher bid,” explained Warner Quiroga of Keller Williams in an email to The Balance. You may also miss out on the house you wanted....

What Is a Production Budget? The production budget, also called the manufacturing budget, is a budget that determines the quantity of the firm’s product that needs to be produced during a budgetary time period. This budget is stated in units of the product or the quantity. Most other budgets are stated in the form of dollars instead of quantity. The production budget is also one part of the firm’s inventory control....

For example, you have monthly utility bills, food costs, or a car payment. Interest is also a monthly (if not daily) event, and those recurring interest calculations add up to big numbers over the course of a year. Whether you’re paying interest on a loan or earning interest in a savings account, the process of converting from an annual rate (APY or APR) to a monthly interest rate is the same....

In this article, we will discuss what these small business expenses are, how to categorize them, and how expense tracking can benefit your business. What Are Tax-Deductible Business Expenses? Tax-deductible business expenses, or “tax write-offs,” are costs that business owners can deduct from their total revenue to determine their taxable income. In essence, tax-deductible business expenses can reduce the amount of taxes you have to pay for operating and profiting from your business....

You should be aware that because of the different ways of calculating annuity rates and rates of return on other investments, comparing the different products can be tricky. Understanding immediate annuity rates can help you choose an annuity product that is on par with other kinds of investments and will be able to provide you with sustained income. Annuity Rate vs. Rate of Return When you are looking to obtain an immediate annuity quote, you might assume that the annuity rate (also known as the annuity payout rate) equates to the rate of return you get on a deposit account (for example, a certificate of deposit) or a retirement income fund....