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Danielle Klimashousky

Danielle Klimashousky is a freelance writer who covers a variety of personal finance topics for SmartAsset. She is an expert on topics including credit cards and home buying. Danielle has a BA in English from Wesleyan University.

Posts by Danielle Klimashousky

Quitclaim Deed
Mortgage Basics

What Is a Quitclaim Deed and How Does It Work?

A quitclaim deed sometimes referred to as a non-warranty deed is a document used to transfer interest in a property. Common terms utilized alongside quitclaim deeds are “grantor” and “grantee.” In this context, the grantor is the one transferring the ownership… read more…

Are banks open on labor day?
Bank Reviews & Comparisons

Are Banks Open on Labor Day?

Labor Day is an American holiday that celebrates workers and the labor movement. Observed on the first Monday of September, it also (unofficially) marks the end of summer. To most, Labor Day means a three-day weekend of fun in the sun,… read more…

SmartAsset: What Time Does the Bank Close?
Banking Basics

What Time Does the Bank Close?

While there’s a lot you can do at an ATM or through a mobile banking app, there are times when you need to visit an actual bank branch. So what time does the bank close? In the past, all bank… read more…

A woman reviews her bank statement.
Banking Basics

How to Get Your Bank Statement Online or By Mail

Every month, your bank prepares a document for you showing all of of your transactions for the past month. This is called a bank statement. It’s important to review your bank statement regularly – in part to ensure there aren’t… read more…

Online Banking: Ally vs Barclays
Bank Reviews & Comparisons

Ally vs. Barclays Bank

Online-only bank accounts are increasingly popular. They tend to offer better interest rates than typical banks because they don’t have to pay the costs of having brick-and-mortar locations. Two popular online banks in the U.S. are Ally Bank and Barclays… read more…

What Is a Chartered Life Underwriter (CLU)?
Certifications & Licenses

What Is a Chartered Life Underwriter (CLU)?

Chartered life underwriter, or CLU, is a financial services certification for financial advisors who specialize in life insurance within the context of estate planning. Although many advisors have experience with estate planning, CLUs go through rigorous training to earn this designation. The education process involves learning about risk management, insurance, annuities and more. To find a… read more…

are banks closed on black friday?
Bank Reviews & Comparisons

Are Banks Open on Black Friday 2023?

Though it may seem like an unofficial federal holiday, many banks are actually open on Black Friday. However, in many states the day after Thanksgiving is considered a state holiday, which means bank locations in those states may be closed.… read more…

An investor reviews 12b-1 fees.
Advisor Fees & Costs

What Are 12b-1 Fees?

12b-1 fees are annual distribution fees related to mutual funds. They are operational expenses, and they’re usually a part of a fund’s expense ratio. These fees are separate from the normal management fee and are typically for marketing expenses. In… read more…

A financial advisor explaining the difference between a pension vs. an annuity with their clients.
Pensions & Other Retirement Accounts

Pension vs. Annuity: What’s the Difference?

Pensions and annuities are two common sources of retirement income. However, they are quite different with their own advantages and disadvantages. Which one is better for you will depend on your individual circumstances. For example, some people may choose a… read more…

As you create an estate plan, it can be helpful to know what a testamentary trust is.
Retirement Planning

What Is a Testamentary Trust?

As you sit down with your financial advisor to create an estate plan, one option that may arise is a testamentary trust. A testamentary trust is a type of trust that’s created in a last will and testament. Also known as… read more…

SmartAsset: How Do Annuities Work?
Annuities

How Do Annuities Work?

When it comes to retirement, Social Security and your 401(k) plan don’t always cover you throughout your retirement. If you’re planning for retirement, you might want to also consider opening an annuity. Annuities are long-term investments that help protect you… read more…

Investment brokers at work in their office.
Advisor Basics

What Is an Investment Broker?

If you’re getting started in investing, an investment broker can be a great asset as your connection to the market. Investment brokers serve as go-betweens for buyers and sellers on the stock market. They enable their clients to purchase stocks,… read more…

A trust fund can be a way to save for a child's education.
Retirement Planning

What Is a Trust Fund and How Does It Work? Definition and Overview

There are many ways to set up a financially secure future for your loved ones. Trust funds, for example, can be a strong way to set your children or grandchildren up for future financial success. Also, contrary to popular opinion,… read more…

living will
Healthcare & Living

What Is a Living Will?

A living will is often overlooked in favor of a last will, but both are important and individual documents for you to consider. A living will is a written statement that states your wishes for medical treatment in cases where… read more…

international money transfer
Banking Basics

What Are the Best Ways to Transfer Money Internationally?

Whether you’ll be making a number of international money transfers or it’s a one-time transaction, it’s important to know the best ways to send money internationally. Maybe you need to put down a deposit for a vacation rental, send money… read more…

How to Open a Checking Account
Checking Accounts

How to Open a Checking Account

Opening a checking account, whether a personal or business checking account, is a relatively easy process as long as you’re prepared with the right information. It becomes even easier when you know what to expect. To open a checking account,… read more…

A woman sits down to create an investment plan.
How to Invest

Making an Investment Plan: A Step-by-Step Guide

Making an investment plan involves more than just choosing a few stocks to put money in. You have to consider your current financial situation and your goals for the future. It’s also important to define your timeline and how much risk you’re willing to take on in order to determine your optimal asset allocation. All… read more…

An investor reviews what makes a diversified portfolio.
Portfolio Management

How to Diversify Your Investment Portfolio

When creating an investment plan, understanding how to diversify your portfolio is one of the most important aspects. Diversification essentially means spreading your assets among a variety of investments. Doing this helps to mitigate risk and provides the potential to improve returns. A financial advisor can help you optimize an investment strategy for your financial… read more…

Investment Advisor
Investing for Beginners

What Is an Investment Advisor?

If you need help making investment decisions and managing your portfolio, you may want to seek the advice of an investment advisor. Investment advisors are basically financial advisors that, for a fee, provide guidance and management for your investment portfolio. These individuals… read more…

SmartAsset: What Is a Prepaid Debit Card?
Banking Basics

What Is a Prepaid Debit Card?

You’ve probably received a Visa, MasterCard or American Express gift card at some point. Or, you’ve bought one yourself. Prepaid cards can be found in the checkout line at the gas station or even in your mail as a reward… read more…

SmartAsset: Why You Should Not Buy a Credit Privacy Number (CPN)
Credit Cards

Why You Should Not Buy a Credit Privacy Number (CPN)

If you’re looking to repair your credit, you may have come across websites that advertise a credit privacy number, credit protection number or CPN. These numbers are nine digits like a Social Security number (SSN), and sellers claim that you… read more…

How to Pay Your Credit Card Bill
Credit Cards

How to Pay Your Credit Card Bill

There are a lot of things to think about when you get a credit card. Aside from getting the best credit card rewards, you’ll hear about things like balance transfers, credit scores and APRs. But what about a simpler question… read more…

A Guide to Investment Management Services
Other

A Guide to Investment Management Services

Investment management refers to the professional handling of a portfolio of securities, like stocks, bonds, options and more. It’s also known as asset management, money management and portfolio management. Investment managers typically buy and sell securities and other assets to achieve specified… read more…

SmartAsset: What Is a FICO Score?
Credit Cards

What Is a FICO Score?

When a bank or other lender runs a credit check on you, they will most likely look at your FICO score – the most widely used type of credit score – to determine your creditworthiness. According to the Fair Isaac… read more…

When putting together a portfolio, it's important to know the difference between an ETF vs. mutual fund.
Retirement Planning

ETF vs. Mutual Fund: What’s the Difference?

When deciding how to invest your money, you’ll likely run into two types of funds: exchange-traded funds (EFTs) and mutual funds. But you may be wondering, ETF vs. mutual fund? What’s the difference? The two funds have a lot in common, but they are different in key ways. A financial advisor could help guide you with an… read more…