Online or internet banking is not a new concept to many people nowadays. While some are still more comfortable with the brick-and-mortar banks, a growing number of consumers today are also adapting to the more convenient method of handling one’s finances which is through online banking.
Plus, an online bank ideally offers higher yields and lower fees because it is able to do away with overhead expenses normally maintained by the traditional bank. Everything is transacted online, through the phone, or by mail.
Investors looking for low-risk investments that are easily convertible to cash should look into the certificate of deposit (CD). It is a special type of deposit account offered by most banks and thrift institutions around the country. Because it’s an instrument that provides stable return on your investment, CDs are considered to be more “secure” compared to stocks, mutual funds, and private equity investments. In addition, unlike other types of investment instruments, CDs have Federal Deposit Insurance worth up to $100,000.
As an upcoming or recent college graduate, your mind is chock-full of knowledge and ideas that will help you thrive in your newly-minted professional career. It’s tempting to let thoughts of long-term money matters fall by the wayside as you establish yourself in a new role, but doing so can cause long-term damage to your financial future. To make sure your money works for you in the long run, add a self-taught course in money management to your list of priorities. Think of this article as your study guide and use it to prepare for retirement’s final exam. Instead of a good grade, however, you’ll get long-term financial security if you pass.
Increased Number of Agents Say Holiday Travelers Are Seeking Greater Value and Redeeming Rewards Points to Offset Costs
A new survey of more than 900 American Express Travel agents suggests that travelers this holiday season are savvier than ever before, fulfilling their vacation plans in the midst of the current economic downturn by finding smart ways to save. Consumers are stretching their vacation budgets, seeking value in every aspect of their travel plans and cutting costs wherever they can through measures such as redeeming reward points to offset costs, taking shorter trips, visiting alternative destinations, staying closer to home and choosing less expensive hotels.
There’s good news for consumers and small businesses desperately in need of capital. They just might get that much-needed loan after all, or more importantly, ward off the imminent foreclosure of their homes.
In response to White House’s growing concern that the bailout money might be used to finance more acquisitions or fund employees’ compensations, executives of top US banks immediately gave their assurance that the bailout money will go where the government wants: to get credit moving again and assist in restructuring home mortgages rather than push for more foreclosures. Click to Read More
Student bankers will help provide peers with practical money management skills.
Capital One Bank announced the opening of a new bank branch at West Side High School in Newark. The West Side High School branch will be Capital One Bank’s second student-run banking center in the Tri-State area.
Nine West Side High students will operate the in-school branch three days a week under the supervision of Capital One Bank management. The new in-school branch provides an opportunity for select students to work with Capital One Bank to develop practical financial knowledge and skills through a structured work environment and share what they have learned with their peers. The bank will offer tools to help students save for future financial responsibilities such as the cost of attending college, and banking services will also be available to school administrators and teachers.
Just about everyone needs a checking account when they reach adulthood. And free checking accounts seem to be everyone’s preference because of its perceived “no strings attached” feature. There are no monthly charges and no minimum maintaining balance required. You can keep your balance as low as you like without incurring penalty fees. However, is the free checking account really free? Many people seem to think it is but if when you analyze it deeper, it would appear that “free” checking accounts are not so free after all.
Bank of America and JP Morgan Chase — two of the US’ top banks, and now both in the limelight.
Aside from having equally received a huge chunk of the $700 billion government bailout plan, $25 billion each to be exact, the two banks have also been rather busy lately expanding their respective financial empires with a series of takeovers and mergers involving no less than once-mighty names in the banking and investments industry: Bear Stearns and Washington Mutual, Countrywide Financial and Merrill Lynch.
Yet 50% Believe They Are on Right Track for Long Term, PNC Survey Finds
The number of wealthy Americans who feel pessimistic about the stock market and real estate has nearly doubled in the past year, according to a survey by PNC Wealth Management, a member of The PNC Financial Services Group, Inc.
More than half — 53 percent — have a gloomy outlook about stock market performance in 2009, the fifth annual Wealth and Values Survey found. Only one in four (25 percent) are optimistic about the market next year.
Don’t lose hope if you find yourself suffering from bad credit. Bad credit can happen to anyone whether you’re financially responsible or not. Sometimes, there are unforeseen circumstances that can affect your credit rating. The good news is that there are still some ways you can get your credit back into shape.
The important thing is for you work on rebuilding your credit starting today. Show potential lenders that you’re serious about your financial responsibilities. And as you do so, you credit worthiness will show significant improvement and you will begin to see savings on interest payments. There are no shortcuts when it comes to improving your credit rating over the long term. Accurate credit reporting cannot be easily removed from your credit report. The only viable solution to reestablishing your credit is to have a significant change in mindset and behavior.
Don’t lose hope if you find yourself suffering from bad credit. Bad credit can happen to anyone whether you’re financially responsible or not. Sometimes, there are unforeseen circumstances that can affect your credit rating. The good news is that there are still some ways you can get your credit back into shape. 
