Bank Clients Might Be Unfairly Denied Accounts

According to this New York Times article, more and more consumers are getting denied access when trying to open up a new checking account. ChexSystems, a data service that financial institutions use to screen checking account applicants, once again comes under fire for unfairly denying consumers the right to open a new checking account. As a result, the system’s alleged screening inaccuracy is forcing many checking account applicants to rely on checking account alternatives like expensive cash-checking services.
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5 better places to bank than Walmart’s GoBank

By the end of October, Walmart will be offering a new “low-fee” checking account to consumers across the country. Although the account is marketed as an alternative to traditional banks’ high-fee accounts (no minimum balance requirements and no overdraft fees), there’s fine print that should be looked at more closely. The account has a purchase fee of of $2.95 and like traditional accounts, a foreign ATM fee and monthly fee still exist (if the account holder doesn’t enroll in a monthly Direct Deposit).

Some alternatives low-fee checking options to consider are:

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How Does Your Household Income Rank Across the US?

The median household income in the United States is around $50,000. While this number is considered the top 50% in some geographic locations, it’s ranking isn’t considered as high in other areas of the United States where economic conditions vary (e.g., New York Metro). Click the link below to see how your income is ranked across over 300 zones in the United States!
What Percent Are You?

Millennials Joining the Work Force

While many employers perceive the Millennial Generation as inexperienced and unprepared for the workplace, they’re attitude and work performance might not be too far off from those of previous generations. This New York Times article discusses how technology, the Great Recession, and observations of working parents have all had an influence on this generation of young Americans.

Click this link to read the full article Millennials at Work: Young and Callow, Like Their Parents

Saving Yourself from Spending Your 20s in Debt

Your twenties can be the most expensive years of your life. Many of us have taken out student loans and upon graduating, have found it difficult to land an entry-level job that pays well. Written from firsthand experience, the author of this article provides some insight on how her parents prepped her financially during her early twenties. Click the link below to read more!

5 Ways My Parents Saved Me from Spending My 20s in Debt

7 Weird Ways to Save $4000 a Year

As the summer winds down, a lot of us are focusing on how we can start rebuilding our savings after all our summer fun. Some great ways to save without cutting back on things you love include signing up for reward travel credit cards, enlisting in an Internet research panel and claiming rebates when dining out. Read the full article below to learn more!

7 Weird Ways to Save $4000 a Year

9 Problems You Can’t Solve With Money

Today, many people think that money can fix any situation that life throws at us. Money might be the answer for temporary happiness, but it can’t solve problems like a failed relationship, a mid-life crisis, or acquiring skills and talents (just to name a few). Click the link below to read why money isn’t the answer to all your problems.

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Twelve Places to Stash Your Extra Cash

If you’re wondering what to do with your extra cash, this article is worth reading. Instead of stashing extra cash under your mattress, there are other places to keep your money that are safe and will even allow you to earn some return. CDs, bonds, savings accounts, and paying down your mortgage are all options to consider when thinking about where to stash your extra cash.

Click here to read full article 12 Places to Keep Your Money Safe — And Growing

Credit Unions Using Gambling to Encourage Saving

Institutions around the U.S. are using a new tactic to get low-income households to start saving. According to this New York Times article, low-income Americans tend to spend the most on lottery tickets as they see it as a viable option for financial planning. Credit unions and nonprofit groups are gaining support from liberal poverty advocates and conservatives by encouraging consumers to save with prize-linked savings accounts, which essentially offer lottery tickets for every deposit. Winnings vary, but some participants have seen grand prizes of $30,000. Click here to read more Using Gambling to Entice Low-Income Families to Save