Banking Advice | BankingAdvice.com » Savings

How to Save an Extra $50 Each and Every Week

walter — Thu, 17 May 2012 15:10:55 +0000

One of the most important pieces of financial advice you’ll ever receive is the importance of getting into the habit of saving money. This holds true regardless of your financial position, and whether you’re trying to save a lot or a little each week. If there’s any downside to being on a regular savings program, it’s that sometimes we get so used to saving a certain amount each month we aren’t necessarily saving as much as we could be. In fact, regardless of the financial situation you find yourself in, it’s quite likely that you’ll be able to save an...

Banking Advice – 5 Ways to Save Money on Gasoline

walter — Tue, 01 May 2012 17:54:10 +0000

One of the best ways to improve your financial situation is by saving money on things that are always going to be a part of your budget. While it’s helpful to eliminate unnecessary items from your budget, there are certain items that you’re always going to have to buy. For many individuals and families, gasoline is one of those things. Thankfully, there are ways to cut the amount you spend on gasoline each week without having to significantly change your lifestyle. You’d save a lot of money by getting rid of your car, of course, but that’s not going to...

How to Save Money for an Expensive Purchase

walter — Thu, 05 Apr 2012 15:28:51 +0000

In thinking about personal finance, it’s clear that much of the discussion usually relates to how your spending and saving decisions affect the future. Many times the “future” tends to deal with long-term goals such as retirement, becoming debt-free or saving for a child’s college education. But financial planning can also apply to things that would strike most people as being a little bit more “fun.” For example, you can use general personal finance principles to help you save for an expensive purchase. What the item is doesn’t matter nearly as much as how you go about saving for it. ...

Saving Money: Save 10% of Your Salary and Watch Your Savings Grow

walter — Tue, 14 Feb 2012 16:12:33 +0000

One long-established piece of personal financial advice is that you should save 10% of your salary or wages each and every time you get paid. The idea is that by “paying yourself first” you won’t have to scramble to find money at the end of each month to deposit for savings. Instead, you’ll fund your savings before any other spending decisions or choices are made. The earlier you can begin implementing this rule, the better. If you’re not already doing so, make every effort to begin with your very next paycheck. Even relatively short term consistent savings can add up....

Paying Yourself First – The Key to Saving Money

walter — Fri, 16 Dec 2011 15:48:22 +0000

There are many different ways to build your savings and secure your financial future. Reducing your highest interest debt before paying down other debt, setting and sticking to a budget and reducing unnecessary costs are all important pieces of meeting your financial goals. One concept that isn’t quite as well known, but which is very effective (as well as being very easy) is the idea of “paying yourself first.” The basic idea is to characterize your savings or investment plan as a “bill” that needs to be paid just like any other. Below is banking advice you can use to...

How to Find High Yield Bank Certificates of Deposit

walter — Mon, 26 Sep 2011 14:30:19 +0000

Just a few years ago, it was relatively easy to find a five-year CD that would pay a healthy 4 to 5% interest rate. The savings landscape is much different today, as those long-term CDs are now likely to have interest rates around 2%, and even a one year CD is not likely to break the 1% interest rate level. Even with these lower rates, there are many people who still want the security of insured CDs for their savings. This particularly true for individuals who want to reduce their exposure to the sometimes violent swings that we’ve seen in...

Save an Extra $50 a Week Into Your Banking Account

admin — Tue, 06 Sep 2011 14:19:32 +0000

Wouldn't it be a great feeling to know that you're moving ahead financially? Even an additional $100 a month in savings would help most families. Saving money is one of those things that is easier said than done. To find extra money for saving, dig deep into your money management and spending habits. Here is some banking advice to consider for finding an extra $50 a week to save. After all, if you do, you'll end up with an extra $200 per month. In just 6 months, you'll have saved $1,200.

Think about the money that you spend each week on...
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How Does the Current Economic Crisis Affect Your Money Market Account?

walter — Mon, 29 Aug 2011 13:24:31 +0000
The current economic crisis is one of the worst in history. While recent recessions didn’t have a major effect on the average person, this crisis has touched just about everyone. Banks have failed, jobs have been cut, homes have been lost, retirement funds have been decimated, and it has become more difficult to borrow money. There have even been questions about the reliability of treasury bonds, and that was previously unheard of. So what’s next – could the savings in your money market account be at risk? All in all, money market accounts are very safe places to keep your...
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How to Compare Money Market Accounts

walter — Tue, 23 Aug 2011 14:12:19 +0000
Setting up a savings account is an important step in securing your financial future. It allows your money to earn interest, yet allows you easy access to it in the event of an emergency. But most basic savings accounts offer low interest rates compared to those of CDs and other accounts that provide limited access to your money. One way you can keep your money available while earning higher interest is by putting it into a money market account. Money market accounts let you withdraw your money when you need it, yet pay higher interest than your average savings account....
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Finding the Best Online Savings Account

walter — Thu, 28 Jul 2011 14:42:09 +0000
Gone are the days when you had to make a trip to the bank to open a savings account. Now there are lots of online banks to choose from, and you can open an account with them from the comfort of your own home. Since they do business exclusively online and have no branch locations, they have low overhead and can offer very competitive interest rates and low fees. That’s not to say that there are no disadvantages. If you go with an online bank, the chances of finding a current customer to talk to about his experiences, and whether...
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