

David J. Perrotto
- Jan 15, 2018
- 3 min
Some basic financial literacy everyone should know
Most people don't know this answer. Is interest on your credit card calculated monthly or daily? If you guessed monthly, for the majority of credit cards, you would be wrong. How is interest calculated? Let's say you're working on paying of your credit card, and your annual APR is 20%, which in your credit lender's books, would make your daily interest rate roughly 0.0548% on whatever balance you're carrying after your grace period. After making a bill payment, you've stil


David J. Perrotto
- Jan 8, 2018
- 4 min
Traditional IRA vs. Roth IRA
An important question I always get asked is “Which retirement account should I open?” Let’s talk about the differences between a Traditional IRA or a Roth IRA first and foremost. The type of individual retirement account (IRA) you choose can significantly affect your long-term savings and retirement plans, so it’s worth understanding the differences between Traditional IRAs and Roth IRAs in order to select the best one for you, that will help your family the most in retiremen


David J. Perrotto
- Jan 2, 2018
- 4 min
Credit reporting myths and how being misinformed can hurt your credit score
As with most American’s, we use our credit daily, by using our credit cards to build reward points, having a mortgage on the way to home ownership, to having a small business loan to achieve entrepreneurship. Credit scores are constantly on the top of our minds, but for many, poor financial literacy can hurt you for years. A few months ago Transunion did their annual credit literacy survey, The online survey includes responses from 1,002 U.S. consumers age 18 and older, and t