Do you have a checking or savings account with any of the big banks? If so, are they charging you all these excessive hidden fees? Don’t you just hate that? These banks have gotten millions of bailout dollars from the government but yet they still find ways to stick it to us regular folk by nickel and diming us. It’s so ridiculous…half of the fees they come up with are really absurd. It’s just another way for them to line their pockets at the expense of the people on Main St. Well I say it’s time to DUMP them. Yes, I said it….get rid of them. It’s time to find a better alternative.
Credit unions are growing more popular by the day. What make them so great is that most of them are owned by people like me and you, so basically they put people over profit. They’re smaller which means you will more than likely get better customer service. You can actually put a face with a name. Most credit unions offer free or nearly free checking/savings accounts just as long as you have direct deposit or meet other simple criteria. The rates are way better on loans and credit cards, not to mention the credit criteria for applying for a loan is more lenient.
These are second tier or community banks that are located in various places such Wal-marts and other grocery stores. The majority of these banks offer free checking/savings account just like credit unions. They have competitive rates and are must easier to work with. Even though the volume of capital is low compared to the big banks, one of their greatest strenghts is that they are able conduct business in a more personal manner, which gives them more of an advantagive edge with smaller businesses. During this time of economic uncertainty, smaller banks have gained more customer loyalty which have made them more stable and allowed them to be able to lend more money. Another great advantage is that they are usually open late in the evening and on Sundays. In the end, smaller can sometimes mean better.
Don’t be lured into opening an account with these big banks because they honestly don’t care about you. All they care about are the numbers. They don’t care about lending money to small business at decent rates or putting back into the community by creating jobs. Their goal is one thing…to make money and they will do whatever it takes to accomplish this…even if it means charging you an excessive amount of hidden fees. Don’t become a victim, switch to an alternative bank today.
Have you switched from a big bank to an alternative bank yet?
I became a victim of identity theft back in 2009. That was one of the worse days of my life. I felt helpless, violated and angry. Even though I know that 1 in 4 people will either experience identity theft on a personal level or they know someone whose experienced it…I still never thought it would happen to me. I mean, I’m pretty careful with my credit cards and I check my bank accounts a couple of times a day. I always try to shred mail and other documents that have pertinent information on them. How in the world could this have happened to me?
So you can imagine how shocked I was to learn that someone had stolen my identity by filing a bogus federal tax return in my name. Because we live in the technical age this type of identity theft has become more common. To make matters worse, the IRS is aware that this type of identity theft exists but is doing little to stop or prevent it.
Tax return fraud is just one of the many types of identity theft that’s prevalent today and as you read this, thieves are searching for cleverer ways to commit this crime. Don’t let it happen to you…take strategic steps to protect your identity.
Below are some tips on the types of ID Theft and ways you can prevent this from happening to you.
Continue reading I’m a victim of Identity Theft: Ways to prevent it from happening to you
My boyfriend, James, and I are contemplating getting married later this year…..woot! I’m keeping my fingers crossed. However, one pressing topic that comes up rather often is whether or not we should establish joint bank accounts or continue to keep them separate after we’re married. In my various conversations with married couples, it seems that this has been an ongoing debate for years and will probably never go away.
James and I are a lot alike in many ways; however, we are totally opposites when it comes to how we view and manage money. I’m a saver….hands down and he’s more of a spender. I believe that debt should be avoided like the plague; he thinks that some debt is good and should be used as a leveraging tool to get ahead. I love shopping at thrift and consignment shops…he’s not that thrilled about buying second hand items….he likes everything brand spankin’ new. This type of thing makes me a little apprehensive about comingling our money. 🙂
I know that some people have strong opinions about this. They argue that having separate accounts means that you don’t trust one another and that when you say “I do” at the altar you become one unit and that everything should be combined. There shouldn’t be any hidden secrets. I can’t say that I agree with this opinion whole heartedly. I do understand that marriage is a “we” and not an “I” thing and that it should not be entered into lightly, however, I think that people should sit down and develop a strategy of what works best for them. Don’t be persuaded by what other people think you should do. There is more than one way to skin a cat and just as long if you both come to an agreement and feel comfortable with your decision then it shouldn’t matter if you have a joint or separate accounts just as long as you remain honest and open.
I know that Dave Ramsey wouldn’t like that statement….oh well….sorry Dave.
This is our strategy….
We ultimately decided that it would be best to set up a joint checking/savings account for all expenses that pertain to the household such as the mortgage and utilities, etc. This will be our main account. However, we will retain our separate accounts for personal expenses…with one exception…..we will put each other’s names on all accounts joint and separate. In addition we agree that we will sit down once a month and review all accounts.
I am happy with this decision as it gives us the best of both worlds.
What’s your opinion? Do you think that married couples should have joint or separate accounts?