Research shows that while most American’s aren’t likely to switch banks all that frequently, there are lots of checking account options that are worth looking at more closely. Money ranked six “best banks” in America and scored them by a number of factors including: monthly fees, interest earned on balances, ATM fees. Read the full article below to see which banks made the list!
Full article: Best Banks in America
As a result of the recent credit card data breaches, many Americans have become more concerned with protecting themselves against fraud, but many fail to consider a more serious threat when using credit cards. According to this New York Times article, research has shown that credit card usage over cash increases the likelihood of overspending because consumers tend focus less on price and more on product features when shopping and buying goods with their piece of plastic. Read the full article to understand how credit card usage affects our spending patterns.
The Most Serious Threat When Using Credit: You
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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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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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?
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
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
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
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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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