How Changes in the Federal Funds Rate Affect Your Financial Decisions
Understanding the Federal Funds Rate and Its Impact on Your Finances The federal funds rate is a crucial benchmark interest rate set by the Federal Open Market Committee (FOMC), a committee within the Federal Reserve. This rate is used by commercial banks when lending to each other on an overnight basis. Changes in the federal […]
“Personal Loans vs. BNPL: Making the Best Financial Decision”
Understanding Personal Loans and Buy Now, Pay Later Plans When it comes to borrowing money, you have several options, including personal loans and Buy Now, Pay Later (BNPL) plans. Deciding which type of financing is best for you often depends on what you plan to purchase, the loan offers available, and your ability to repay […]
“A College Student’s Guide to Banking: Accounts, Banks, and Credit Cards”
Why College Students Should Consider Having Both Checking and Savings Accounts Transitioning from high school to college involves making numerous decisions, including which school to attend, where to live, and what type of bank accounts you’ll need. While having both a savings account and a checking account during college isn’t essential, it can significantly simplify […]
“The Pros and Cons of Couponing: Is It Worth Your Time?”
Maximizing Savings with Couponing: A Comprehensive Guide At O1ne Mortgage, we understand the importance of saving money in every aspect of your life. One effective way to stretch your budget is through couponing. While it can be a great strategy for reducing costs, it’s essential to approach it with a plan to ensure you truly […]
“Should You Leave Your Ex-Spouse on the Mortgage? Pros and Cons”
Managing Mortgage Responsibilities After Divorce: Risks and Solutions Divorce is a challenging process, and financial matters can add another layer of complexity. One of the most significant financial issues that divorcing couples face is deciding what to do with a jointly owned home. Typically, a divorce decree requires the spouse who keeps the home to […]
“Exploring Alternatives to Second Chance Bank Accounts”
Understanding Second Chance Bank Accounts: A Path to Financial Stability Second chance banking offers a lifeline for individuals who struggle to qualify for traditional bank accounts. This service is particularly beneficial for low-income communities, minority groups, and those who have recently been incarcerated. At O1ne Mortgage, we understand the importance of financial inclusion and are […]
Demystifying Credit Card Interest: What You Need to Know
Understanding Credit Card Interest: A Comprehensive Guide At O1ne Mortgage, we prioritize consumer credit and finance education. We aim to provide you with the most objective and helpful information to make the best financial decisions. If you have any mortgage service needs, feel free to call us at 213-732-3074. In this blog, we will delve […]
“Tax Obligations for eBay, Etsy, and Other Online Marketplace Sales”
Understanding Tax Rules for Online Marketplace Sales Millions of people have sold items on platforms like eBay, Etsy, Poshmark, StockX, and Facebook Marketplace. If you’re one of them, you might be wondering whether you need to report these sales on your tax return. The answer is yes, but the specifics can be a bit complicated. […]
“Bank Accounts and Credit: What You Need to Know”
How Bank Accounts Impact Your Credit and How to Build Credit Effectively Managing your finances is crucial, and bank accounts play a significant role in this. However, many people wonder if their banking activities can help build their credit. In this blog, we will explore the relationship between bank accounts and credit scores, and provide […]
“A Guide to Savings Account Terminology for Better Financial Management”
Maximizing Your Savings: Key Terms and Tips for Success Opening a savings account is a smart financial move that allows you to set aside a portion of your income, keeping it safe until you need it. This strategy not only helps you manage your finances better but also ensures that your money grows over time. […]
