Banking Advice | BankingAdvice.com

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...

Should a College Age Student Have a Credit Card?

walter — Mon, 14 May 2012 15:07:01 +0000

If you’re getting ready to send your son or daughter off to college, you’ve probably worked with them to prepare a checklist of things they’ll need to take to school. Along with the various dorm room essentials, you’ll need to consider whether one of the things they’ll need at school is a credit card. Recently passed laws have made it significantly more difficult for a college student to get a credit card on their own, unless they’re able to demonstrate an independent and adequate income. You may decide to help your child obtain their first card, but first you need...

When Should Your Child Get a Savings Account?

walter — Wed, 09 May 2012 15:08:41 +0000

Along with “when should I start giving my child an allowance,” one of the early financial questions a parent is likely to face for their child dealing with money is likely to be when to get them their first savings account. You’d like that first savings account to be something that your child genuinely takes an interest in, so that they start wanting to save, instead of you having to constantly remind them to do so. The answer to the question will vary for each child, of course. But there are some factors you can take into consideration when trying...

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...

Is Mobile Banking Safe?

walter — Mon, 16 Apr 2012 14:45:40 +0000

Personal financial security is in the front of many people’s minds these days, and with good reason. If you’ve ever had your credit card or debit card number compromised, then you know how much time and effort it can take to restore whatever funds were taken from your accounts. In some cases, it can take months or even years to clear up the damage that a compromised account may have caused to your credit reports. Today there are an increasing number of ways that we need to be vigilant in protecting our financial information. For example, as more of us...

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. ...

Banking Advice on How to Calculate Cash Flow

walter — Thu, 29 Mar 2012 14:41:52 +0000

In order to take control of your financial situation, you need to know what’s happening to your money. It might seem like an obvious point, but in fact many people aren’t quite sure whether their financial situation is getting better or getting worse. They simply don’t have an accurate picture of where they stand. Trying to figure out the best way to meet your financial goals can be difficult (if not impossible) if you don’t know where you are now. One effective way of coming up with a baseline for your current financial position is to calculate your personal “cash...

How to Create a Budget Using Your iPhone

walter — Mon, 19 Mar 2012 14:17:55 +0000

An increasing number of people are using their iPhones for tasks that previously would have been handled in some other way. Point and shoot cameras, pocket video cameras and dictation recorders have in large measure been replaced with functions built into every new iPhone. Even many personal budgeting tasks can now be done with the iPhone. In fact, some individuals are finding that because they usually have their iPhone with them at all times it’s easier than ever to create budgets and track those budgets. Much of the initial resistance that many people encounter with following a budget has to...

Watch Out for Your Bank’s New Checking Account Fees

walter — Mon, 12 Mar 2012 14:22:17 +0000

When new laws were passed in 2011 to reduce the fees that banks could charge for certain debit card transactions, the hope was that the changes would be passed along and result in lower fees to consumers. Instead, many large banks have instituted new account fees in order to recoup their lost income. Keep in mind that your bank can change the terms of your checking account upon 30 days advance notice. So when you receive a letter from your bank, review it carefully to make sure that you won’t be subject to any unexpected new fees going forward. Here are...

What is ATM Card Skimming and How to Protect Yourself From It?

walter — Mon, 27 Feb 2012 15:25:13 +0000

ATM cards are a convenient and popular way to access the funds in our bank and checking accounts. But using an ATM card is not without risk. Unfortunately, the practice of “ATM skimming” has become a problem in recent years. ATM skimming is when a thief installs a card reader inside the ATM card slot. This device will read the information on your ATM card’s magnetic stripe when you insert the card into the machine, so that the thieves can “clone” your card and use it to withdraw money from your account or make purchases at retail stores. Many times...