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The End of Free Checking? – Interview with a Banker

Last week, I had the chance to chat with my anonymous banker friend, and he gave me permission to pass along some very interesting information. Here are his thoughts: Some banks have stopped offering free checking. But why? Is this just a matter of the banks getting greedy and looking for ways to stick it to their customers? Are they trying to make up for money lost from loans gone bad? No. There are many factors, but I’ll try to keep it fairly simple. First of all, banks are in business to make money. Shocking, I know! Even though they … Continue reading →

Is Your Bank Failing? Interview with a Banker

We’ve all been watching the news with some trepidation, I’m sure. It seems that banks are failing right and left. How do we know if our bank is safe, and what should we do if we hear a rumor that our bank is hitting the skids? I sent these questions to a friend of mine, who is the manager of a major bank. He willingly answered them for me, but he asked that I not share his name. It’s not a very popular time to be a banker. I asked him, “What are the signs that my bank is struggling?” … Continue reading →

Certificates of Deposit

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Interest rates are not good right now. When I opened an ING savings account years ago, it had the best interest rates around for a basic savings account. That account earns very little now, while it’s still at a better rate. More recently I opened an ING Electric Orange checking account. This checking account earns a little bit of interest, which is a nice bonus. I’m using the account mostly for storage, but I need more access to the funds than a savings account affords. If I really wanted to get a better interest rate, I’d open a certificate of … Continue reading →

Do You Bundle?

Today, I came across an interesting personal finance website. Bundle.com is a site where you can see how you spend your money in a visual format. On the site, you can track all of the things that you do with money from bank accounts to credit cards and investments. The program categorizes your spending and creates graphs and charts so that you can see your finances in visual form. Also, Bundle tracks the spending habits of many people all over the world. You can see what other people in your local area are spending and what they are spending their … Continue reading →

Celebrity Money Blunders

Celebrities. Love them or hate them, there’s just something irresistible about them. I think that one of the major things that is so appealing about celebrities is that the details of their daily lives are often made available to the public. When we read stories about celebrities, we realize that even though they may seem larger than life when they are on-screen at the movies or on stage at a rock concert, they are only human just like we are. Having fame and the fortune that often accompanies it is not a one-way ticket to financial bliss. In fact, sometimes … Continue reading →