By James M. Davis | ESPN.com — The amount of cash you have available to you is a major factor in determining how much you spend on a credit card or a car loan, so it’s important to have the right security in place.
Here are some tips to help protect your money.
What’s the best security for me?
Cash can’t be stolen or tampered with, but if you’re planning on spending your cash on something else, you’ll need to keep it safe and secure.
Here’s what you need to know about keeping your money safe.
How to protect money in your homeIf you’re in a house or apartment, you’re best protected by a door lock or door frame that you can easily access from the outside.
You should also keep all of your money at a safe location, including in a bank account, at your home.
What to do if your bank closes?
The last thing you want is to be left stranded without money to pay bills, rent or utility bills.
If you’re concerned about your account closing or losing your money, here are some helpful resources.
What if I lose my bank account?
If your account is closed, you may have some options.
If that happens, you could file a claim with the federal banking regulator, which could result in a refund.
If your bank doesn’t issue a refund, you can file a request for a court order to access your money or apply for a judgment.
How much do credit cards cost?
How much you pay out depends on how much interest you pay on your credit card, the interest rate and the type of credit card you have.
Here’s how to calculate your annualized rate of return, which ranges from 1 to 9 percent.
For example, if you have a $25,000 balance, you’d pay out an annualized return of 1.85 percent.
That means you’d earn an average annual interest rate of 7.8 percent.
The higher the number, the higher the rate.
To calculate the annualized interest rate, divide the number by the number of years on your account.
For example, a 5-year card would pay out a rate of 1,350 percent.
If you pay in full for a card that has an annual interest of 5 percent or less, you pay only 2.9 percent of your annual interest balance.
If, on the other hand, you owe an additional $1,000 on a card with an annual rate of 9 percent or more, you would pay 9.4 percent of the balance.
What about your car?
If you have more than $1 million in cash, it’s not necessarily wise to pay the interest on your car loan.
However, if your car has $5,000 or less in cash and you need cash to cover your monthly bills, you should consider taking out a car rental, a car insurance policy or a mortgage.
The interest rate on car loans is based on the number and type of vehicles that are offered.
If the car you’re considering is only available in certain cities, the rate may be lower.
If there’s a higher interest rate than the one you can afford, it could be because you’re using a different credit card.
How about credit cards that offer variable rates?
You may be interested in this article from the Associated Press, “U.S. car credit falls by nearly 20 percent this year.”
If you’ve used a credit or debit card, you’ve likely experienced some negative impact on your balance, or interest rate.
These negative impact factors can include the loss of interest rates or a decline in the value of your balance due to a decrease in purchases, a change in your credit score or other factors.
S, and its banks, may be able to help you deal with these negative impacts, but it may take a while for you to fully understand them.