MIGHTY MONEY
Tanza Loudenback

5 times to consider putting your savings in a CD for at least a year

Since interest rates are down compared to last year — and likely to remain unchanged or fall even further in 2020 — it's a good time to be strategic about where you save money.

A certificate of deposit (CD) can offer good earning potential without any of the risk of a stock market investment or the variable interest rates of a high-yield savings account.

When you open a CD, you agree to lock your money up for a specific period of time — usually anywhere from three months to five years — in exchange for a fixed annual percentage yield (APY). You typically can't access your cash until the CD's maturity date without incurring a penalty, which makes it a good place to safely grow money that you need at a certain date and not before then. It can also help curb impulse spending.

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Veterans

Hilton wants a staff full of US military veterans

Working in a hotel is no joke – those jobs are hard. Think about how hard you worked in basic training under the latrine queen, using a dirty sock to dust the day room, and how clean the barracks had to be to pass a drill sergeant's inspection. Even if you're looking to work in management, Hilton hotels host hundreds of thousands of event every year. It's suddenly your job to manage that. Wherever you're working in a hotel, it takes grit, organization, and attention to detail.

Do those traits sound familiar? They do to Hilton Hotels.

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MIGHTY CULTURE

You've never seen this many military discounts in one place

Every one who's ever work the uniform loves that military discount. No matter how hard you try to deny it or blow off a small discount, that extra ten percent ain't bad. In California, that's like not paying sales tax. While we all love them and appreciate them when it happens, many of us don't really go looking for them. Let's be real: shopping purely for military discounts can be a lot of work. Now you can find everything you'll ever need discounted in one place.

And what's more, your shopping spree will go toward helping your fellow veterans.

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Veterans

Everything you need to know about startup accelerators for vet-owned businesses

If someone told you the only way for you to survive the coming recession unscathed would be to start your own business, would you even know where to begin? Would you be able to afford the startup costs on your own? Can you handle the workload that might come with such a venture? For most people, especially veterans, that answer is no. That's what startup accelerators are for – access to knowledge, access to capital, mentorship, connections, talent – all these things can be acquired through these programs.

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Veterans

5 ways USAA is still the leading financial institution for veterans

There are a lot of choice for veterans to leverage their time in the military to get great financial services at a competitive cost. The fact that so many businesses and bank are geared towards veterans is a blessing but one institution stands out among the rest – and has for nearly a century.

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MIGHTY MONEY

Why now is the perfect time for military families to refinance home loans

In recent weeks, Wall Street has talked a lot about the fears of a coming recession, fueled by a drop in government bond yields. The casual investor may have no idea what this means for them, but for homeowners in the military and beyond, it means now is the perfect time to refinance a mortgage.

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Veterans in cannabis industry denied VA home loans

Veterans in the cannabis industry have been denied home loans from the Department of Veterans Affairs, prompting a response from Congress.

When one veteran was denied his home loan benefit, he reached out to Rep. Katherine Clark (D-Massachusetts), who joined with 20 members of Congress in writing to VA Secretary Robert Wilkie.

The lawmakers wanted to know why their constituents were denied loans after citing their income sources as state-legalized cannabis activities.

"Denying veterans the benefits they've earned...is contrary to the intent Congress separately demonstrated in its creation of VA benefit programs," Clark wrote in her May 23, 2019 letter.

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MIGHTY MONEY
Cheryl Lock

Here's a 9-step guide to calculating your credit card interest

When it comes to credit cards, understanding your interest rate and how it works can be the difference between staying out of debt with an excellent credit score and falling behind in your payments and dipping to sub-par credit score ratings.

Your interest rate is the amount your credit card charges you to borrow money. If you pay your credit card balance in full and on time, you generally don't need to worry much about your interest rate, which is expressed as an annual percentage rate (APR).

But if you're carrying a balance on your credit card, you'll notice you owe more over time, and that's because of the interest rate. Credit cards are notorious for being one of the most expensive types of consumer debt, with an average interest rate of about 17%.

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