straight from the source Alternatives to ING Direct / Capital One 360 I have a confession to make. I love to save money. However, saving money only became fun when I learned how to put my money hard at work for me. Unfortunately, millions of Americans only know how to put their money hard at work for the bank when […]
Tag Archives all about credit unions
Bank Scam #8: CD Secured Loans
Bank Scam #8: CD Secured Loans If a good friend walked up to you one day and asked if they could borrow $10,000, and you had the extra money, you might say yes, right? But before you do you may ask, “Will you pay me any interest?” And more importantly, “How can you pay me back?” Your friend responds, “Well, I’m going to pay you […]
Bank Scam #7: IRA CDs
Bank Scam #7: IRA CDs I searched on BankRate.com for the best rates on IRA CDs. The results were poor to say the least. If you lock your money up for a year, Citibank is paying an interest rate of 0.2%. So I ran some quick math and found out it would take approximately 350 years to double your money in their 1-year CD. Wells Fargo is paying 0.05%. Again, if you run the math, […]
Bank Scam #6: Offering a Discount to Apply for Credit
Top 10 Bank Scams Bank Scam #6: Offering a Discount to Apply for Credit Banking is simply a game of numbers. The first goal of the bank is to sell you multiple products. The bank knows that if you own 5 “products” from the same bank, you will stay as a customer of that bank. For example, if the bank opens a […]
Bank Scam #3: Fractional Reserve Banking
Bank Scam #3: Fractional Reserve Banking “Give a man a gun and he can rob a bank. Give a man a bank and he can rob the world.” It may be written clearly on your credit card, auto statements, and even your mortgage as to the amount of interest you are paying on a monthly basis. Even current laws mandate the banks to show exactly the cost […]
Bank Scam #2: “How to Get Good Credit”
Bank Scam #2: How to Get Good Credit Please be sure to read Bank Scam #1 (click here) before you read the other 9 scams. There may be important information in a previous post needed to understand each of the subsequent posts. To uncover how “get good credit” is used to scam Americans out of their hard-earned money, let me tell you a story of my […]
Cast your vote: “Everyday is Bank Transfer Day”
Bank Transfer Day was November 5th 2011. And yesterday alone, 1,000’s of Americans left big banking. Today, 1,000’s more will leave. And tomorrow 1,000’s more Americans will leave big banking…many of them for good. Both Conservatives and Liberals are leaving too. It is good to see that this is one issue we can all agree upon. Even Sandy Weill, former Chairman (and creator) of Citigroup is abandoning big banking. Weill commented, “There is such a feeling among people, […]
Are Credit Unions FDIC Insured?
For anyone who works as a financial professional, it is just a matter of time until they must answer the question, “Are credit unions FDIC Insured?” And yes, I get this question quite often when I am referring folks to their local credit union. Fact is, credit unions have better insurance than the FDIC. To understand how […]
Want to get out of debt? Dave and Selina wanted to be less than “average”
Want to get out of debt? If you ever wondered, How do I get out of debt?, you’re not alone. In fact, you are considered an average household if you have total balances of $16,000 on credit cards alone. For anyone above $16,000–just being “average” could be a big step in the right direction. According to www.creditcards.com, the national average interest rate for credit cards is just under 15%, and a “low” interest card would be 10.4%. Those with “bad […]
How to avoid ATM fees
How to avoid ATM fees $7,000,000,000. Yup, it is likely that ATM fees alone will generate 7 billion dollars in revenue this year for the banks. My question to you is “How much of that 7 billion will come from your bank account?” I spent hours surfing the Internet looking for “good advice” on ways to keep more […]
http://antihousewife.com/tag/kaizen/ Mark Quann is an entrepreneur with a belief in the liberating power of financial education and a campaign to slash the toxic influence of big banks and credit companies. Read More
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