Recently, BillShrink released an infographic about savings and credit card payoff trend based on their user data as a litmus test for Americans’ behavior. How much are Americans putting away in their savings? Based on their study, average savings has declined from $62,093 in 2009 to $33,552 in 2011. Also, planned monthly savings dropped from … Read moreAmericans’ Savings Behavior and Credit Card Tips [Infographic]
In reaction to the financial crisis, the Federal Government instituted changes within the financial industry. Banks have reacted to this and passed along some of the expenses associated with the new regulations, even things like maintenance fees to simply have a bank account. Many bank customers are unsure of where to turn when dissatisfied with … Read moreWhy Haven’t You Ditched Your Bank for a Credit Union?
The way in which we manage our personal finances has come a long way over the years. Advances in technology have made it possible to not only conduct much of your banking and bill paying from the comfort of your own home, but also while on the go from your mobile phone. The introduction of … Read moreThe Pros and Cons of Mobile Banking
The economic tumble we witnessed in the past several years should convince us of the importance of having an emergency fund. As we have seen, markets, and life in general, are unpredictable. It’s smart to have some funds available in case you face an unforeseen financial problem. Unfortunately, although the market appears to be improving, … Read moreWhere Should You Keep Your Emergency Fund?
Saving for the future is important. We all know this to be a fact, nevertheless for some people saving money remains a challenging aspect of managing their finances. There are many obstacles that can make saving for the future difficult, however for most people there are two main problem areas. The first being a lack … Read moreUsing Virtual Bank Accounts to Reach Savings Goals
You know that having an emergency fund is important, that building up savings is a wise thing to do for your financial health. However, you have also probably noticed that savings accounts generally do not provide very high yields. While your emergency fund isn’t necessarily meant to produce big time yields, it is nice if … Read moreAlternatives to Savings Accounts: CDs and Money Market Accounts
My friends over at GoBankingRates.com sent me this infographic, which shows a few interesting facts about the U.S. Savings Rate. The first box shows the U.S. household savings rate dropped from 6% in 1993 to less than 1% in 2006. However, some say that the savings rate calculation is faulty. Regardless, it is a good … Read moreWhat Affects the U.S. Savings Rate [Infographic]
“See a penny, pick it up. All day long you’ll have good luck.” This little poem is one that I remember from my youth. It was brought back to my attention as my son and I rolled coins from his allowance jar. As we rolled the pennies, he asked, “Is it worth it to keep … Read moreHow to Build Savings from Spare Change
I had a really bad banking experience last week – actually, it took place over 7 days and is still not quite over. I was going to blog about it and rat out the bank, but then some halfway decent customer service changed my mind. When I logged into my account today and saw YET ANOTHER … Read moreBB&T Customer Service Nightmare and How to Avoid Overdraft Fees
One of the keys to financial freedom is developing a habit of saving. It sounds really basic, but many people have trouble with this, and many just don’t know how to start. Here is an overview of how you can get started with savings accounts. The article will cover types of savings accounts, how to … Read moreSavings Basics: How to Get Started with Savings Accounts