RECENT ARTICLE
Dumbest Things You Do With Your Money
Money Saver:
Brad Klontz knows all about the dumb things that smart people do with their money: He's a smart guy (with a doctorate in psychology) who lost half of his assets in the technology stock bubble.
A financial psychologist, Klontz says that when it comes to money smarts, size matters: The logical part of your brain is so much smaller than the emotional side that it's like "a circus performer riding an elephant." To make smart decisions about your finances, you need the logical side to dominate. But once you get tweaked by greed or fear, that elephantine emotional brain is likely to run amok.
...
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How to Self-Diagnose Your Financial Health
Money Saver:
You probably get an annual physical. Your doctor will ask about your concerns, take your blood pressure and 30 minutes later you're out of the paper gown and off to work -- maybe with a new prescription for Lipitor.
A similar annual checkup takes place in another type of practitioner's office: financial planners. But instead of analyzing your good and bad cholesterol levels, a planner may evaluate your good debts mortgage and bad debts (credit card). And instead of testing your reflexes, they may look at your savings and assess your ability to respond to a financial emergency.
"A lot can...
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It is All About the Savings Bank Accounts
Checking & Savings:
The saving bank account is opened by an individual and is maintained by the credit unions, banks, as well as other financial institutions. The saving accounts reimburse interests on the money which is deposited into the account by its holder. The investment is held into the savings accounts and cannot be spent openly.
The savings bank accounts mainly focus at permitting the account holders set aside one portion of liquid assets like a fraction of the savings method. The savings accounts, which offer better rate of interests to the account owners are preferred, as they allow the savings to a...
Bank Expert on December 28, 2009 0
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5 Tricks to Make Your Cash Grow
Money Saver:
Right now we are going through one of the toughest recession and saving money is paramount for the future. With losing jobs are building up continuously, it's a hardship for many people to make ends meet, let alone try to save money. There are 5 tricks you can use to help with savings when there is no money:
First of all, you want to budget and you want to do your best to stick with your budget plan. Even though it's one of the hardest things you can do but it must be done. One trick to budgeting is to avoid the budget busters. For example, dont leave home without a shopping list. You dont wa...
Bank Expert on December 28, 2009 0
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Beat Back 5 Financial Fears
Money Saver:
Everyone's got concerns when it comes to money, but some have fears that can really put a big hole in their financial future. Here's how to overcome five common ones.
1. Fear of coming clean with your partner
You know it's bad. So bad you'd really rather keep it to yourself. Why, you figure, ruin your partner's day with news of your mounting debt or the fact that you've been living off your savings?
Because if you don't, the truth will out at the worst possible time -- like when you go to apply for a mortgage and realize that your credit score or lack of savings is killing ...
Bank Expert on December 10, 2009 0
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Lucky 13 Savings Strategies
Checking & Savings:
Saving for emergencies doesn't have to be about painful cutbacks or Draconian spending measures. Sometimes we get so focused on where we're going to find extra money that we forget the easy pickings are in setting up good savings strategies. Follow these 13 tips to save money without even trying.
1. Autopilot saving and bill pay
Have your savings automatically deducted from your paycheck before it even hits your checking account. It's easy -- most banks will let you set it up online in a matter of minutes.
Set your fixed bills to be deducted as well, either through automate...
Bank Expert on December 10, 2009 0
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Giving Makes You Rich
Checking & Savings:
In John Bunyan’s 1684 classic The Pilgrim’s Progress, the character Old Honest poses this riddle to the innkeeper Gaius: “A man there was, tho’ some did count him mad, / The more he cast away, the more he had.” Gaius solves the riddle thus: “He that bestows his Goods upon the Poor / Shall have as much again, and ten times more.”
Less poetically, the idea is this: Giving makes you rich. A lovely sentiment, to be sure, but quite backward-sounding to an economist. You obviously have to have money before you can give it away, right? Or in the pithy words of former British prime mini...
Bank Expert on December 10, 2009 0
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Save Money on Credit, Debt, and Banking
Money Saver:
Balancing credit cards, student loans, checking and savings accounts can be quite daunting. Make sure you aren't paying more than you should -- and that you're getting all the benefits you deserve -- with these 12 tips
Unload Your Burden
Carrying a $1,000 balance at 18% blows $180 every year on interest.
That's money you could put to better use elsewhere. Get in the habit of paying off your balance in full each month.
If you've already racked up a large balance, do what you can to pay it off.
This may sound obvious, but it is the best way to save money on those hefty inte...
Bank Expert on December 8, 2009 0
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Six Money Dilemmas
Money Saver:
As you invest your money, shop for a home or tackle any one of the many financial decisions you have to make over your lifetime, do you sometimes wish you'd paid more attention in math class? Do you find yourself having to "run the numbers" and wondering how?
To help, we've taken six common financial quandaries and done the math for you. As you'll see, the solution isn't always black and white, and the "right" answer may depend on things that you can never know for sure, like your tax bracket in 2020 or how much your investments will grow.
Plus, at times emotional considerations may tip the ...
Bank Expert on December 7, 2009 0
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What to Do With $1,000 Now
CDs & Investments:
1. Top off your emergency fund
Given today's shaky job picture, you need fully six months' worth of expenses set aside in a liquid account that you can raid if calamity strikes. Fall short? Adding to that stash is a no-brainer. Because yields on many of the typical cash options look rotten -- six-month CDs are kicking off an average 0.62%, and money-market funds are hovering around 0.05% - your best bet is a high-yield online savings account.
2. Spend five hours with a financial planner
If you're like most investors, your portfolio has been through the wrin...
Bank Expert on December 4, 2009 0
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How to Earn 6 Percent on Your Cash
Money Saver:
At a time when consumers can barely squeeze out a 2 percent yield on their savings, offers to earn 5 percent or 6 percent -- on a checking account, no less -- may sound downright sketchy.
Yet, those rates are being offered now on checking accounts at a growing number of community banks and credit unions. These so-called "rewards" accounts were once offered by a scattered few banks, but they are becoming increasingly common, says Randy Rosen, manager of deposit research at Informa Research Services, a market research firm that has tracked bank deposit rates since 1983.
There are few factors dr...
Bank Expert on December 4, 2009 0
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Extra Cash to Stash in a Savings Account or Certificate of Deposit
CDs & Investments:
Though there has been a lot of good news being release recently indicating that we might be starting a recovery, we might have a little more rough spots before the good times are back. The stock market is rallying, housing construction and sales are starting to bottom out and big companies like Citigroup and Wells Fargo reporting better than expected profits, but whether you like it or not, there are still indications that the recession isn't over. For one, the unemployment rate continues to increase, big companies continue to lay off workers by the thousands. Recently, Goodyear Tire & Rub...
Bank Expert on December 2, 2009 0
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Planning For Your Retirement With Certificate of Deposits
CDs & Investments:
The importance of saving for retirement is stressed throughout our lives. Most people value employment opportunities that offer 401k retirement accounts, particularly those who are lucky enough to have their contributions matched by their employers. In addition to 401k accounts, or for individuals who don't have the option for 401k plans, the IRA is a very popular method of saving for retirement.
What many people don't consider are the benefits of using Certificate of Deposits (CDs) as a way to save for retirement. Much like traditional savings accounts or your 401k - Certificate of Deposits ...
Bank Expert on December 2, 2009 0
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The Future of Offshore Banking, Corporations and Foundations
CDs & Investments:
First it needs to be stated that no one has a crystal ball which predicts the future. These thoughts are just opinions and should be taken as such not as legal or tax advice. We will try to show the political positions of the countries that are not in favor of the tax haven offshore jurisdictions and the position of the tax haven countries. The countries most outspoken against offshore banking and offshore corporations are Australia, UK and USA.
Today there is a great outcry from these and other countries about the tax saving benefits afforded to citizens of certain countries by going offshor...
Bank Expert on December 1, 2009 0
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10 Money Making Tips
Money Saver:
1. Maintain a good credit score! It will save you thousands of dollars in the short and long term when you need to borrow money to buy a car or a home. Creditors will give you an interest rate and the loan amount based on your income and credit score.
2. Large sums of money should NEVER be left in a checking account or even a low-interest bank savings account. Rather, put the money into a high interest savings account (like an ING savings), money market fund, or other forms of short term high interest investments with a fixed return.
3. If you have an employer matching 401K plan, maximize yo...
Bank Expert on December 1, 2009 0
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How to Get Your Bank to Pay You
Bank Insider:
It seems like these days, everything you hear about banks involves their greed and mistakes. In these difficult economic times, every penny counts. Everyone could use a few extra dollars in their pockets. Believe it or not, your bank can be a source of additional cash. There are a few different ways to “get your bank to pay you.” Some of the most popular methods for saving money at the bank are detailed below. For maximum savings, employ more than one of the recommended strategies.
Sign-up Bonuses and Bank Incentives
The absolute best time to get paid by your bank ...
Bank Expert on November 25, 2009 0
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How To Save Money Using Direct Deposit
Money Saver:
There are several great reasons to utilize direct deposit if your company offers this feature. The first and foremost reason is banking fees. Many banks charge account fees to maintain a savings or checking account in their institution. If you have direct deposit they will waive these fees because they are saving money on the transaction. Processing checks takes time and money and the bank passes those charges on to you. When you have electronic deposit there are no associated fees and they are happy to pass those savings on to you also.
The first thing you should do is check with your e...
Bank Expert on November 23, 2009 0
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How to Invest in Offshore Money Market Accounts
Checking & Savings:
There are many reasons to invest in offshore money market accounts. Most of these accounts are completely legal. While the term "Swiss bank account" often conjures images of exotic dealings and criminal masterminds, there are plenty of reasons why you may want to open an offshore bank account that are well within the confines of the law. Some reasons people make this decision include tax purposes and liability issues.
Instructions
Step 1
Consider why you are opening an offshore bank account. There are good reasons, and there are bad reasons to open an offsho...
Bank Expert on November 23, 2009 0
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Bank crisis: 10 things to know now
Bank Insider:
The financial system is dealing with the worst housing meltdown since the Great Depression and is fending off an extraordinary number of body blows: the Bear Stearns debacle, the Washington Mutual bank failure, the takeover of Fannie Mae and Freddie Mac, the Lehman Bros. bankruptcy and the government's bailout of American Insurance Group and seemingly everyone on Wall Street.
The events of the past few months have many people reeling. My e-mail inbox and the MSN Money message boards have been flooded with readers' questions about the financial crisis.
Here are answers to some of those questi...
Bank Expert on November 20, 2009 0
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I bond interest exempt from fed taxes?
Best Bank:
Savings bonds are Treasury securities that are payable only to the person to whom they are registered. In other words, you can't resell them although you can cash them in. Savings bonds can earn interest for up to 30 years, but you can cash them in after one year, the minimum holding period. If you redeem a bond before five years, there's a three-month interest penalty.
The government issues two savings bonds -- the I bond and the Series EE Patriot bond.
The I bond is an inflation-indexed savings bond. It has a fixed rate of return plus an inflation premium. The fixed rate and the inflation ...
Bank Expert on November 17, 2009 0
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