When you first open a bank account, it is easy to assume you will stay with that bank or financial institution and make transactions with them forever. However, sometimes individual needs change, or a new account comes out that you want to take advantage of. You might have questions, like whether or not it is […]
Savings vs. Money Market accounts: which is the right one for you? In the first quarter of 2020, Americans managed to put away approximately more than $4.7 trillion in personal savings. That was about 26% of their disposable income. So if you took home $50,000 after taxes last year, you likely stashed away around $3,250. […]
If you’re considering a credit union, you are probably attracted to the low fees and competitive interest rates. One of the reasons they can afford to do so because they’re not-for-profit. Credit unions are owned by their own members, not anonymous investors. While banks use profits to pay owners and shareholders, credit unions give their […]
The prevailing financial wisdom states that you should pay yourself first. Reality dictates that you also need to pay others – such as your landlord or mortgage lender, the lender that holds your car note, your cell phone service provider, etc. So should you keep your money in a savings account or in a checking […]
Why do the rich seem to prefer Swiss bank accounts? Whenever the rich find themselves in trouble – whether it be banking fraud, tax evasion, or a simple high-profile financial scandal – Swiss bank accounts are almost always involved. Due to contemporary representations in TV, movies, and scintillating articles about our favorite celebrities, Swiss banks […]
It’s that time of year again when we promise ourselves that next year will be better, healthier, and more productive than the last. Financial goals, like getting out of debt, saving for retirement, or buying a home, are popular resolutions. Sadly, we mostly fail. Some estimates put our New Year resolution fail-rate at 80%. But […]
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