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Derek Silva

Credit Card and Retirement Expert

Derek Silva is determined to make personal finance accessible to everyone. He writes on a variety of personal finance topics for SmartAsset, serving as a retirement and credit card expert. Derek is a member of the Society for Advancing Business Editing and Writing and a Certified Educator in Personal Finance® (CEPF®). He has a degree from the University of Massachusetts Amherst and has spent time as an English language teacher in the Portuguese autonomous region of the Azores. The message Derek hopes people take away from his writing is, “Don’t forget that money is just a tool to help you reach your goals and live the lifestyle you want.”

Posts by Derek Silva:

by Derek Silva Jul 23, 2019

It wasn’t long ago that paying bills or getting a paycheck meant waiting for a check to move through the mail system. Nowadays, many of these payments happen online through an electronic network called the Automated Clearing House or ACH. Trillions of dollars move through the ACH each year. Plus, people are increasingly using this network in place of credit card and debit card payments. But exactly what are ACH payments? Read more

by Derek Silva Sep 05, 2017

Roughly a third of Americans have just one credit card. For some people, having one card that they use responsibly is all they’ll ever need. For many others, a second credit card can look appealing when one credit card just doesn’t cut it. A second credit card could mean more benefits, extra rewards and even an improved credit score. So if you’ve had one card for a while now, it might be time to consider getting a second. How do you choose your second credit card? Let’s take a look. Read more

by Derek Silva Dec 12, 2017

Gallup polls from 2014 show that the average American has 2.6 credit cards and it isn’t hard to see why. Credit cards lessen the need for hard cash. They allow you to take advantage of the ever-growing online shopping options. Plus, many credit cards offer a ton of great rewards you can earn. But how do you apply for a credit card? How do you know which credit card is best for your needs and lifestyle? Whether you’re new to credit or you’ve been through the process but are still unsure, let’s take a look at finding and applying for your next credit card. Read more

by Derek Silva Jul 28, 2017

Are you jonesing for a getaway but deterred by this cost? This may ring especially true for people with children. So what should you do if you want to scratch that travel itch without breaking the… Read more

by Derek Silva Jul 20, 2017

Happiness in the United States is the lowest it’s been in a decade, according to the 2017 World Happiness Report from the United Nations. Even so, the U.S. still ranked 14th on the list that… Read more

by Derek Silva Jan 07, 2022

As an employee, you may have noticed that your paycheck never matches your full salary. This is because your employer has to withhold certain payroll taxes. You might think that you don’t have to… Read more

by Derek Silva Mar 14, 2018

It’s time to pay your electric bill. You send in the payment but then you get a notification that you overdrew your account. Now you have to pay an overdraft fee. This is a common fee and if you don… Read more