Interest rates have been low for several years now, and while that might be good for people with good credit ratings who are looking for a new mortgage, it has proven costly for savers. Bank CDs and savings accounts currently offer interest rates that would have been considered shockingly low just a decade ago. In this low yield environment, savers are looking at other account features in deciding where to open a new account.
For something that seems to be almost a generic service, there is a surprising amount of variety in the terms and conditions that apply from one... Articles Tagged ‘Banking Advice’
How to Choose a Savings Account When Yields are So Low
Interest rates have been low for several years now, and while that might be good for people with good credit ratings who are looking for a new mortgage, it has proven costly for savers. Bank CDs and savings accounts currently offer interest rates that would have been considered shockingly low just a decade ago. In this low yield environment, savers are looking at other account features in deciding where to open a new account.
For something that seems to be almost a generic service, there is a surprising amount of variety in the terms and conditions that apply from one...
Tuesday, November 25th, 2014
Interest rates have been low for several years now, and while that might be good for people with good credit ratings who are looking for a new mortgage, it has proven costly for savers. Bank CDs and savings accounts currently offer interest rates that would have been considered shockingly low just a decade ago. In this low yield environment, savers are looking at other account features in deciding where to open a new account.
For something that seems to be almost a generic service, there is a surprising amount of variety in the terms and conditions that apply from one... Set Up a New Savings Account and Begin to Pay Yourself First
Paying yourself first is one of the most powerful and underappreciated techniques for strengthening your personal financial situation. When you “pay yourself first” you treat your savings goal as another bill that must be paid each month, along with your mortgage or rent, your utilities, your car payment, etc.
The reason for approaching savings in this manner is because that it helps overcome the temptation to make your savings an afterthought which, unfortunately, happens far too often. If you’re not currently following this strategy, or you’re finding it difficult to make it work, then you may want to consider setting...
Wednesday, September 10th, 2014
Paying yourself first is one of the most powerful and underappreciated techniques for strengthening your personal financial situation. When you “pay yourself first” you treat your savings goal as another bill that must be paid each month, along with your mortgage or rent, your utilities, your car payment, etc.
The reason for approaching savings in this manner is because that it helps overcome the temptation to make your savings an afterthought which, unfortunately, happens far too often. If you’re not currently following this strategy, or you’re finding it difficult to make it work, then you may want to consider setting... How to Cut Your Expenses by Using an Online Bank?
The fees and charges we pay to our banks can add up over time. Considering that many of us use the same banking institution for years or even decades at a time, paying even just a few dollars more in fees each month can end up costing us a lot of money.
After all, it’s easy to keep doing business with the same institution, since switching banks can take a bit of time and effort. But in some cases it may be worth considering making the switch. There are many online banking institutions that have successfully transitioned from the traditional...
Sunday, July 20th, 2014
The fees and charges we pay to our banks can add up over time. Considering that many of us use the same banking institution for years or even decades at a time, paying even just a few dollars more in fees each month can end up costing us a lot of money.
After all, it’s easy to keep doing business with the same institution, since switching banks can take a bit of time and effort. But in some cases it may be worth considering making the switch. There are many online banking institutions that have successfully transitioned from the traditional... Banking Advice on 10 Easy Ways to Save More Money Each Month
When we set out to improve our financial health by saving more money, there’s no shortage of advice on how to do it. Unfortunately, sometimes the methods that are suggested represent too much of a change for some people to handle all at once. And good financial advice won’t be particularly helpful if it’s not followed.
Saving isn’t an “all or nothing” endeavor. It would be great to completely transform one’s financial picture and begin saving hundreds or thousands of dollars each month, but if that’s not a realistic option there are still plenty of easy ways you can boost...
Monday, June 23rd, 2014
When we set out to improve our financial health by saving more money, there’s no shortage of advice on how to do it. Unfortunately, sometimes the methods that are suggested represent too much of a change for some people to handle all at once. And good financial advice won’t be particularly helpful if it’s not followed.
Saving isn’t an “all or nothing” endeavor. It would be great to completely transform one’s financial picture and begin saving hundreds or thousands of dollars each month, but if that’s not a realistic option there are still plenty of easy ways you can boost... Which is Safer to Use – A Debit Card or a Credit Card and Why?
Debit cards and credit cards look a lot alike. They’re the same size, of course, and they each come with a logo (usually MasterCard or Visa) that allows you to use the card to purchase items and services from various merchants.
But if you have both of them then you already know that debit cards and credit cards are actually quite different. Debit cards are linked to your checking account, so amount of each purchase purchases using a debit card is immediately withdrawn (or debited). Credit cards, in contrast, allow you to finance purchases over time, if you so choose....
Wednesday, May 28th, 2014
Debit cards and credit cards look a lot alike. They’re the same size, of course, and they each come with a logo (usually MasterCard or Visa) that allows you to use the card to purchase items and services from various merchants.
But if you have both of them then you already know that debit cards and credit cards are actually quite different. Debit cards are linked to your checking account, so amount of each purchase purchases using a debit card is immediately withdrawn (or debited). Credit cards, in contrast, allow you to finance purchases over time, if you so choose.... How to Get a Money Order and When is it the Best Payment Decision?
Given the fact that they’re used less frequently, you might think that money orders would have faded away or become wholly irrelevant in the world of personal finance. Since getting a credit card has become relatively easy, and anyone with a checking account can write a check or even use their debit card to make a purchase, you might even wonder why some people bother with money orders at all.
And many individuals may be unfamiliar with the money order. Essentially a money order is a payment device that’s similar to a check, except that you don’t have to have...
Monday, May 19th, 2014
Given the fact that they’re used less frequently, you might think that money orders would have faded away or become wholly irrelevant in the world of personal finance. Since getting a credit card has become relatively easy, and anyone with a checking account can write a check or even use their debit card to make a purchase, you might even wonder why some people bother with money orders at all.
And many individuals may be unfamiliar with the money order. Essentially a money order is a payment device that’s similar to a check, except that you don’t have to have... How Debit Card Holds on Your Funds Can Cost You Money
For quick and easy access to the funds in your checking account, nothing is quite as convenient as a debit card. Branded with a Visa or MasterCard logo, you can use a debit card at any merchant that accepts a credit card, and doing so is much quicker than paying by check.
But the process by which payments are processed whenever you make a purchase with a debit card is much different than the impact of paying by a check or using cash. Debit card use often involves the use of “holds” that can tie up funds that are in...
Wednesday, April 30th, 2014
For quick and easy access to the funds in your checking account, nothing is quite as convenient as a debit card. Branded with a Visa or MasterCard logo, you can use a debit card at any merchant that accepts a credit card, and doing so is much quicker than paying by check.
But the process by which payments are processed whenever you make a purchase with a debit card is much different than the impact of paying by a check or using cash. Debit card use often involves the use of “holds” that can tie up funds that are in... Tips on How to Manage Your Online Banking Passwords
It’s rare these days to find anyone who doesn’t do at least some of their banking online. Online banking is convenient, and many institutions offer free bill pay services and even smartphone apps that let you deposit checks into your account without actually having to visit the bank. And in some respects online banking can provide a certain measure of security, since you don’t have to worry about losing checks that you want to deposit or be concerned that your payments by check get lost in the mail.
But online banking also comes with its own security risks. The key...
Tuesday, April 8th, 2014
It’s rare these days to find anyone who doesn’t do at least some of their banking online. Online banking is convenient, and many institutions offer free bill pay services and even smartphone apps that let you deposit checks into your account without actually having to visit the bank. And in some respects online banking can provide a certain measure of security, since you don’t have to worry about losing checks that you want to deposit or be concerned that your payments by check get lost in the mail.
But online banking also comes with its own security risks. The key... How to Use Your Bank’s Products and Services to Save for the Vacation of a Lifetime
Over the past decade or two, vacations have become something of an afterthought for many individuals and families. Certainly increased job and career time commitments are one factor leading to less frequent vacations. But another element of taking fewer vacations is simply not being able to afford it.
Fortunately, most of us realize it’s never a good idea to go into debt in order to take a vacation. Knowing that you’ll have to repay the cost later will always be in the back of your mind, so borrowing makes it difficult to get the most enjoyment out of your vacation....
Monday, March 10th, 2014
Over the past decade or two, vacations have become something of an afterthought for many individuals and families. Certainly increased job and career time commitments are one factor leading to less frequent vacations. But another element of taking fewer vacations is simply not being able to afford it.
Fortunately, most of us realize it’s never a good idea to go into debt in order to take a vacation. Knowing that you’ll have to repay the cost later will always be in the back of your mind, so borrowing makes it difficult to get the most enjoyment out of your vacation.... What is Right of Survivorship on a Bank Account?
If you’re diligent about trying to achieve your estate planning goals then you’ve probably prepared a will, set up a power of attorney and possibly also a living trust. You’ve probably also taken those goals into account when you named the beneficiaries on your life insurance, as well as the beneficiaries who would receive your individual retirement accounts and 401(k) plans.
But what about your other financial accounts, namely your bank and checking accounts. You can name a beneficiary on your account, but there’s also another way to make sure that your bank account gets passed on to the person...
Friday, February 14th, 2014
If you’re diligent about trying to achieve your estate planning goals then you’ve probably prepared a will, set up a power of attorney and possibly also a living trust. You’ve probably also taken those goals into account when you named the beneficiaries on your life insurance, as well as the beneficiaries who would receive your individual retirement accounts and 401(k) plans.
But what about your other financial accounts, namely your bank and checking accounts. You can name a beneficiary on your account, but there’s also another way to make sure that your bank account gets passed on to the person... 
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