Credit Unions: Non-Profits Offer a Great Alternative to Banks

Susan raised an important point in her comment last week: Credit unions are a great alternative to banks, and I have neglected them in my writing here (despite the fact I am a satisfied credit union customer). And, in today’s economic situation, c … [Read more...]


That's $700 billion divided by approximately 138 million U.S. taxpayers. That would sure put the year's previous stimulus tax rebate to shame. (Remember that? Guess it didn't work.) Just sayin'. … [Read more...]

Q&A: I Have Tons of Debt and Virtually No Income. What Are My Options?

Jessica writes: I’m a 23-year old undergraduate student with tons of debt that is all in collections. I only make $50 a month plus room and board as a residential assistant. I feel overwhelmed because I just can't do anything about it right now. Do I … [Read more...]

Will Your Bank Survive? Here's How to Check

Billionaire investor Wilbur Ross expects thousands of banks to fail in the coming months, he told CNBC this week. How can you tell if your bank will be one of them? … [Read more...]

The Absolute Best Way to Motivate Yourself to Save Money

It's so easy, I can't believe I didn't know about it sooner. Scratch that, I have read it a million times. I can't believe that I didn't do it sooner! Because this motivational technique really works. Whether you are trying to save money, pay down … [Read more...]

Financial Products You (Probably) Don’t Need

My twenty something friends sometimes ask me whether they should hire a financial advisor. Usually, they have just read an article or heard a high-pressure marketing spiel. The fact is, unless you have over $100,000 in investments, you don’t need a f … [Read more...]

The FDIC: What It Is and Why You (Might) Need It

The Federal Deposit Insurance Company (FDIC) is a division of the United States government that insures bank deposits up to $100,000 each. The FDIC was founded after the Great Depression, when many troubled U.S. banks failed under economic pressures … [Read more...]

Despite Fed Decision, Banks Are Moving Interest Rates

I find it interesting that even though the Federal Reserve opted not to lower interest rates this week, some banks are adjusting their interest rates anyway. HSBC Direct lowered its online savings rate from 3.50% to 3.25%, giving competitor FNBO an … [Read more...]

Q&A: Can I Avoid Falsifying My Income on a Credit Application When I’m Temporarily Unemployed?

Brittany writes: I am an ’07 grad with a great credit history. I have a $4,900 credit card balance on a 9.99% APR card. I am considering transferring the balance to a new credit card which offers 0% for 12 months and a low fixed regular APR. My p … [Read more...]

Q&A: What Kind Of Credit Score Do I Need To Get Approved For A Balance Transfer Credit Card?

Pam asks: Three years ago I racked up debts on several credit cards. I paid those cards off and closed them. Today, my only card has a 19% APR and no rewards. My credit score is only about 600 because I was (quite) late a few times. Today, I am debt … [Read more...]