Skip to content

The Fearless Factor

Building Sustainable Wealth

  • Home
  • Categories
    • Biohazard Tips
    • Car Rental & Maintenance
    • Cooling & Heating System
    • Home Care & Maintenance
    • Home Mortgage
    • Office Copier & Furniture
    • Photography
    • Senior Citizen Care
    • SEO & Marketing
    • Tax & Legal Tips
    • Temporary Warehouse
  • About
  • Contact
  • Privacy Policy
×

Category: Savings Account

How to Build an Emergency Fund

  • Financial Advisor
  • Financial Freedom
  • Personal Finance
  • Savings Account
  • 6 min
  • 1 year ago

You never know what life will bring. You can unexpectedly lose your job. A medical emergency can present itself, or you may have unexpected home repairs. So, as financial advisors would say, having an emergency fund to cover these ’emergencies’ makes good financial sense. An emergency fund then is a stash a money you save …

Continue reading “How to Build an Emergency Fund”

The post How to Build an Emergency Fund appeared first on GrowthRapidly.

  • January 11, 2021
Tagged All, Buying, cit bank, Debt, Emergency Fund
Read More
Full view here

You never know what life will bring. You can unexpectedly lose your job. A medical emergency can present itself, or you may have unexpected home repairs. So, as financial advisors would say, having an emergency fund to cover these ’emergencies’ makes good financial sense.

An emergency fund then is a stash a money you save somewhere, usually in a savings account, to cover some of those unexpected surprises. These ’emergencies’ or unexpected events can be costly and they can threaten your financial well being when presented with them. It is therefore important to create one, know what a good emergency fund amount is, where you should keep your emergency savings, and how much you should save in your emergency fund.

Ready to get started? Start your emergency fund today with CIT Bank.

1. Where to put your emergency fund?

High yield savings accounts or money market accounts are a great choice to put your emergency fund for two main reasons. First, they are safe. The point of having an emergency fund is to have that money available to you when an emergency arises. In other words, you want to make sure that your money is there when you need it.

The worst thing you can do to your emergency fund is to expose it in the stock market. The stock market is so volatile that you can lose all of your money in a matter of minutes.

So money placed in high yield savings accounts are safe because they’re not exposed to the stock market and they are insured by up to $250,000, making them some of the best places to stash your emergency fund.

Second, they are accessible. They are liquid, and can easily get your cash within 24 hours, if not sooner.

Related: The Best 5 Places to Keep Your Savings

2. Emergency fund amount.

How much should you have in your emergency fund?

Your emergency fund amount depends largely on your unique circumstances. But financial experts recommend to have at least 3 to 6 months’ worth of living expenses. So if your monthly expenses is $2000, your emergency fund amount should be at least $6,000.

3. Your emergency savings choice.

CIT Bank 2.4% APY Savings Builder High Yield Savings Account is a great option for your emergency fund. It offers a very high APY 2.45%, multiple times better than what a typical traditional savings account is offering.

Learn more about CIT Bank here.

4. How to Start an emergency savings fund

Starting an emergency fund is easy. Open a savings account to use strictly for unexpected expenses and start stashing money away every week, every month, or every paycheck. Even if you think you don’t have enough money to save, save smaller amounts in the beginning and increase it whenever possible.

5. Reasons why you should have an emergency fund.

If you don’t have an emergency fund, you may find yourself in hot water when an emergency arises.

Apply for a loan. If you don’t have a safety net, you may be forced to apply for a personal loan. And a personal loan can put you into more debt. You will have to work hard to repay the principal, plus interest. And if you can’t pay your loan, a judgment can be entered against you.

Take out a 401k loan. You’re allowed to borrow against your retirement account such as a 401k plan. However, just as any other loan, you have to repay it back according to the rules set by your account, or else you will get hit with a penalty. Also, taking money out of your retirement account prevents potential growth of your account.

Selling stocks, rental properties. You may have to sell your stocks or real estate investments in case of emergency. However, that will cost you a lot of money like transaction cost, taxes, etc.

Learn more:

The 5 Best Places to Keep Your Savings

Top 5 Reasons Your’re Not Saving Money

Money Saving Tips: 6 Secrets to Saving Money

4 Reasons CIT Bank Can Maximize Your Savings

Working With The Right Financial Advisors.

You can talk to a financial advisor who can review your finances and help you reach your goals (whether it is paying off debt, investing, buying a house, planning for retirement, saving, etc). Find one who meets your needs with SmartAsset’s free financial advisor matching service. You answer a few questions and they match you with up to three financial advisors in your area. So, if you want help developing a plan to reach your financial goals, get started now.

The post How to Build an Emergency Fund appeared first on GrowthRapidly.

Source: growthrapidly.com

Here’s Your CIT Bank Routing Number

  • Banking
  • Office Furniture Items
  • Personal Finance
  • Savings Account
  • 6 min
  • 1 year ago

You may need your CIT Bank routing number for several things from sending money to friends and family to direct deposit money. This guide will help you find your CIT Bank routing number. What is a routing number? A routing number is a 9-digit number that banks use to identify themselves. Think of it as …

Continue reading “Here’s Your CIT Bank Routing Number”

The post Here’s Your CIT Bank Routing Number appeared first on GrowthRapidly.

  • January 10, 2021
Tagged Banking, cit bank, CIT Bank Routing Number, Financial Wize, FinancialWize
Read More
Full view here

You may need your CIT Bank routing number for several things from sending money to friends and family to direct deposit money.

This guide will help you find your CIT Bank routing number.

*TOP CIT BANK PROMOTIONS*
PROMOTIONAL LINK OFFER REVIEW
CIT Bank Money Market 1.00% APY Review
CIT Bank Savings Builder 0.95% APY Review
CIT Bank CDs 0.75% APY 1 Year CD Term Review
CIT Bank No Penalty CD 0.75% APY Review

What is a routing number?

A routing number is a 9-digit number that banks use to identify themselves. Think of it as an address that lets banks know where to send the money.

A routing number is often referred to as the ABA number or check routing number.

The American Bankers Association created the bank routing number in 1910 in order to process paper checks and allow banks and other financial institutions to send and receive funds from and to other financial institutions.

Unlike other banks such as Wells Fargo routing number and Citibank routing number, which have several routing numbers for different states, CIT Bank only has one routing number.

That is because CIT Bank is an online-only bank. So it does not matter where you live, you only need to know one routing number.

CIT Bank Routing Number:

The CIT Bank routing number is: 124084834.

As mentioned above, because CIT bank does not have local branches, you will only need to remember the number above to do your transactions, regardless of where you live.

So, for example, if you live in New York, your CIT Bank routing number is still 124084834.

You will need your CIT bank routing number for several reasons. For instance, you need it for:

  • To set up direct deposit
  • For ACH payments;
  • To transfer funds between accounts at different banks;
  • For bill payments;
  • To receive government benefits;
  • To receive tax refunds;
  • For wire transfers;
  • To have payments like paycheck deposited into your account

How to Find Your CIT Bank Routing Number? 

There are several ways to find your CIT Bank routing number.

Your CIT Bank personal check.

For your CIT bank “eChecking” account, you can find your routing number at the bottom left hand corner of the personal check.

On this page:

In case you have missed it, we have listed the CIT Bank routing number earlier in this article. It is: 124084834.

Cit bank online:

Find your routing number online by going to their resources and FAQs page.

Call customer service:

Lastly, you can call customer service at 855-462-2652 to get your routing number. However, you will need to identify yourself to get your number.

Once you do so, a representative will be able to help you.

Routing Numbers for Domestic Wire Transfers

With your CIT Bank account, you are able to wire money to other bank accounts in the United States.

Other banks can also wire money to your account as well.

So, to get funds from a domestic wire, use this routing number: 124084834.

You will also need the following:

  • The recipient’s name as it appears on the account;
  • The address of the recipient including the city and state;
  • Account number of the recipient; and
  • The bank routing number.

One thing to be aware of, while CIT bank does not charge for incoming wires, they will charge you a $10 fee for outgoing fee unless you maintain a daily of $25,000 or more.

If you are a commercial, listing service, and institutional client, call CIT Bank at 877-748-0004 to get the correct routing number for wire transfers.

Routing Numbers for International Wire Transfers

CIT Bank does not have outbound international wire transfers at this time. But, you can receive an international transfer from another bank.

So, just provide the routing number 124084834 to whoever wants to send you an international wire transfer. Also CIT Bank does not have a SWIFT code, which is used for international transfers.

The Bottom Line

You will need your CIT Bank routing number to do several financial transactions. For example, you will need it to set up direct deposit, automatic payment, or wire transfer.

So it’s important to know what it is and to keep it handy.

However, if you don’t have an account with CIT Bank yet, make sure you check out their CIT Bank savings accounts and  best CD rates.

Speak with the Right Financial Advisor

  • If you have questions about your finances, you can talk to a financial advisor who can review your finances and help you reach your goals (whether it is making more money, paying off debt, investing, buying a house, planning for retirement, saving, etc).
  • Find one who meets your needs with SmartAsset’s free financial advisor matching service. You answer a few questions and they match you with up to three financial advisors in your area. So, if you want help developing a plan to reach your financial goals, get started now.
*TOP CIT BANK PROMOTIONS*
PROMOTIONAL LINK OFFER REVIEW
CIT Bank Money Market 1.00% APY Review
CIT Bank Savings Builder 0.95% APY Review
CIT Bank CDs 0.75% APY 1 Year CD Term Review
CIT Bank No Penalty CD 0.75% APY Review

The post Here’s Your CIT Bank Routing Number appeared first on GrowthRapidly.

Source: growthrapidly.com

Categories

  • Account Management
  • Apartment Hunting
  • Auto
  • Auto Insurance
  • Auto Loans
  • Banking
  • Biohazard Tips
  • Breaking News
  • Budgeting
  • Building Credit
  • Building Wealth
  • Business
  • Car Insurance
  • Car Rental & Maintenance
  • Cash Back
  • Checking Account
  • Commercial Real Estate
  • Cooling & Heating System
  • Credit 101
  • Credit Card Guide
  • Credit Card News
  • Credit Cards
  • Credit Repair
  • Debt
  • DIY
  • Early Career
  • Estate Planning
  • Extra Income
  • Family Finance
  • Financial Advisor
  • Financial Clarity
  • Financial Freedom
  • Financial Planning
  • Financing A Home
  • Find An Apartment
  • Finishing Your Degree
  • First Time Home Buyers
  • Fix And Flip
  • Flood Insurance
  • Food Budgets
  • Frugal Living
  • Health Insurance
  • Home
  • Home Buying
  • Home Buying Tips
  • Home Care & Maintenance
  • Home Decor
  • Home Design
  • Home Improvement
  • Home Mortgage
  • Home Repair
  • House Architecture
  • Identity Theft
  • Insurance
  • Interior Car Wash Tips
  • Investing
  • Investment Properties
  • Life Insurance
  • Loans
  • Managing Debts
  • Money
  • Money Basics
  • Money Management
  • Mortgage
  • Mortgage News
  • Mortgage Rates
  • Mortgage Tips
  • Office Copier & Furniture
  • Office Furniture Items
  • Paying Off Debts
  • Personal Finance
  • Personal Loans
  • Photography
  • Quick Cash
  • Real Estate News
  • Refinance
  • Retirement
  • Saving And Spending
  • Saving Energy
  • Savings Account
  • Senior Citizen Care
  • SEO & Marketing
  • Side Gigs
  • Spending Money Wisely
  • Starting A Family
  • Student Finances
  • Student Loans
  • Tax & Legal Tips
  • Taxes
  • Temporary Warehouse
  • Texas Attorney DWI Guide
  • Unemployment
  • Work From Home

Recent Posts

  • 5 Things to Know About the Home Office Tax Deduction and Coronavirus
  • Top 10 Health Insurance Considerations
  • The Basics of Medicare Eligibility
  • COVID-19 Scams
  • How Long Does It Take to Refinance a House (+ 5 Ways to Speed Up the Process)

Tags

All Auto budget Budgeting building Buy Buying Career Coronavirus Credit credit card Credit Cards credit score Debt existing Family Fees Finance Financial Goals Financial Wize FinancialWize Grow health Home house How To Insurance Interest Rates Investing Life Loans Main Money Mortgage News Personal Finance Retirement Save Money Saving savings Savings Account Spending Student Loans under will
The Fearless Factor
Home | Contact | Site Map
2019 Copyright. The Fearless Factor

The Fearless Factor

Proudly powered by WordPress | Theme : Voice Blog free WordPress theme : by : Postmagthemes