High-yield checking accounts offer the convenience of checking accounts, with growth potential similar to savings accounts. Though most banks offer some form of high-yield checking, many people are unaware that they exist. But these accounts can be great for certain people who wish to grow their wealth. For those among us who tend to keep… Read More
Most Dangerous Credit Card Mistakes (as reported by John on www.frugalrules.com)
Though credit cards offer convenience, among other advantages, they also come with risks. They often entice people to spend money that they don’t have on things they cannot afford. That’s why, as a nation, we are billions of dollars in credit card debt. The most dangerous mistake that people make with their credit cards is… Read More
Spread Your Accounts Around (as reported by Tahnya Kristina on www.learnvest.com)
Different banks and financial institutions offer different kinds of accounts. They also vary their rates, and other perks for customers, in order to attract your business. But one common question that a lot of people end up asking themselves is this: Should I keep all my accounts at one bank or spread them around? While… Read More
Common Financial Scams (as reported by Sean McDonnell on www.kiplinger.com)
Financial scams abound. For as long as there has been money, there have been people who will find ways to go after money that isn’t theirs. Today, many financial scams originate online, and take advantage of people who are more vulnerable to attacks – the young, inexperienced banker or the aging retirees. The best way… Read More
Know Your Credit Score (as reported by Kathryn Vasel on money.cnn.com)
For many years, it was very difficult (in some cases, nearly impossible) for an individual to check his or her credit score. We had to hope that when we needed a loan, our score would be there to support us. Then companies started offering free and paid services so that people everywhere could check in… Read More
Tax Breaks for the Middle Class (as reported by Sandra Block and David Muhlbaum on www.kiplinger.com)
During tax season, it is helpful to understand all of the different tax breaks and deductions aimed at middle and working class families. Often, we don’t know all of the different deductions for which we qualify, and that can mean overpaying. Sandra Block and David Muhlbaum, writing for Kiplinger.com, have put together a collection of… Read More
Paying Off Debt on Multiple Credit Cards (as reported by Dan Kopf on www.qz.com)
For many Americans, credit cards are a way of life. We have multiple cards, and we use them as much as possible. And that’s why many of us will find ourselves in the familiar position of having higher credit card debt spread across multiple cards. What is the best way to begin to pay down… Read More
Does Intelligence Lead to Wealth? (as reported by Brock Kernin on www.cleverdude.com)
Whether or not you are smarter than someone else has almost no impact on whether or not you will make more money than that person in your lifetime. That’s the conclusion of several studies measuring intelligence and wealth. Surprised? It’s a common misconception that intelligence leads to higher income. While in some cases, it helps…. Read More
Millennials are not Investing (as reported by Preeti Varathan on www.qz.com)
There are significant differences in the financial habits of different generations. And depending on whom you ask, that might be reason to worry about the future of our economy. Millennials, those born between 1983 and 2000, report an unusual ability to save with every paycheck. But rather than investing in the stock market, most young… Read More
How to Save on the Costs of Raising a Child (as reported by Holly Johnson on www.thesimpledollar.com)
All of us want the best for our children. Sometimes, however, money gets in the way. Raising a kid to the age of 18 now costs an average of over $230,000. This figure includes everything from food to healthcare, education to clothing, and all the costs in between. But it’s just an average, and there… Read More