Susan Tompor Detroit Free Press Published 10:01 p.m. UTC Aug 8, 2018 Would you want to pull out your debit card when you pick up lunch — or maybe even a prescription — and have it declined if you didn't have enough money in the account? After all, you would avoid being dinged by a $30 or $35 overdraft fee if the bank just said no dice right on the spot. Maybe you'd have enough cash in your pocket — or another piece of plastic, such as a credit card — to cover the purchase anyway. It's one strategy to take on those pesky overdraft fees. Complaints continue to mount over the strings of overdraft fees and the mysterious mind-numbing methods that banks use to process transactions and ultimately push some people into incurring even more fees. It's because of overdraft rules that can be all over the map at different financial institutions. Things are so bad that two Senate Democrats want to ban overdraft fees on debit card transactions and ATM … [Read more...] about Rising checking account overdraft fees: How to avoid getting punched
Checking vs savings account
Motley Fool Staff The Motley Fool Published 7:04 p.m. UTC Jun 30, 2018 If you're like most people, you'd like to spend less and save more because you have some rather important financial goals, such as sending a kid or two to college, paying off your home, and retiring comfortably. That's easier said than done, though. Fortunately, there are lots of not-too-painful ways to spend less and thereby save more. Here are 40 of them to consider. Not every one will work for you, but more than a few should. If just seven of the ideas below help you save, say, $150 per year, that's worth more than a thousand dollars in savings! ALSO READ: 4 Things It Doesn't Always Pay to Save Money On 1. Install water-saving shower heads Close to 17% of the water we use in our homes is for our showers, and the average American family's water bill was recently about $70 per month, or about $840 per year. One way to shrink those numbers is by installing water-saving shower heads. Don't assume … [Read more...] about Personal savings: 40 pretty easy ways to spend less money
Adam Shell USA TODAY Published 5:00 p.m. UTC Jun 5, 2018 With interest rates on the rise — and expected to climb even higher— plain-old cash is looking more alluring to savers and conservative investors. A savings account stashed with cash was the place to be for people who wanted to sleep at night during the 2008 financial crisis. Its value held steady while the stock market crashed — losing more than half its value — and home prices collapsed. But it quickly fell out of favor when the Federal Reserve cut interest rates to zero to make borrowing cheaper and revive the U.S. economy. While pushing rates to historic lows gave stocks, real estate and other risky assets a steroid-like performance boost, it amounted to a death sentence for cash and certificates of deposit. The reason: It caused the interest payouts on cash to virtually disappear, hurting savers, conservative investors and … [Read more...] about How to find best interest rates on CDs, savings accounts
Today, my dear readers, I have a question for you: Is there a difference between borrowing and financing? Don’t stress. I’ll tell you. There is, and understanding the difference is important to your financial health.Debt is the result of both borrowing and financing. But think of debt as a rope. You can use it to lift, rescue and tie things together, or you can use it to hang yourself. Debt can improve your life or ruin it.I used to think borrowing and financing were the same. I considered myself involved in high finance with my bevy of credit cards. I charged all kinds of clothes, meals, trips and entertainment. We financed the house, the car and countless household appliances. It was the same to me. I could have stuff now and pay later. I considered my juggling acts some kind of advanced high finance. I had to learn the difference between borrowing and financing the hard way.Borrowing is the temporary use of a thing or money, while financing implies the management of … [Read more...] about Safe debt vs. stupid debt: the difference is huge
Share This Story! Let friends in your social network know what you are reading about Facebook Email Twitter Google+ LinkedIn Pinterest Effective debt management: How to increase savings and get rid of that debt load Total household debt rose to an all-time high of $13.15 trillion at year-end 2017, according to the Federal Reserve Bank of New York. So, what might you do if you’re burdened with debt? Here are some effective ways to drop debt and bolster savings. Sent! A link has been sent to your friend's email address. Posted! A link has been posted to your Facebook feed. Join the Nation's Conversation To find out more about Facebook commenting please read the Conversation Guidelines and FAQs Robert Powell, Special for USA TODAY Published 7:00 a.m. ET May 2, 2018 CLOSE A new study shows millennials are delaying life events due to being in debt. Elizabeth Keatinge has more. Buzz60 CONNECT TWEET LINKEDIN … [Read more...] about Effective debt management: How to increase savings and get rid of that debt load
LAKE ALFRED, FLORIDA — Put expensive high-tech scientific equipment in a former citrus packing house more than 60 years old, throw in an overworked air conditioner, a corroding foundation, and the sticky Central Florida climate, and you’ve got problems.The University of Florida’s Citrus Research and Education Center is doing cutting-edge work to find cures for new biological threats to the U.S. citrus crop, but its researchers and staff housed in some of the facility’s older buildings are also waging a more immediate fight against bugs, rodents and other fauna that thrive in the muggy summer heat. In one lab in the packing house, traps for mice and insects sometimes lie alongside microscopes and testing equipment; staffers keep a large supply of bleach on hand to clean mold off walls, vents and even dishes used to test samples. Often, it’s a losing fight.“The ants got into our incubators over here,” research technician Laurie Friedrich said, … [Read more...] about Innovation vs. the ants
Standard vs. itemized deduction: Which one should you claim on your taxes? This guide is to help you decide, particularly if you've recently bought a home. Daniel Bortz, provided by Published 5:30 am, Thursday, February 15, 2018 Photo: Imacon/iStock Image 1of/1 CaptionClose Image 1 of 1 Photo: Imacon/iStock Standard vs. Itemized Deduction: Which One Should You Take? 1 / 1 Back to Gallery Standard versus itemized deduction: Which one should you claim? If this question is weighing heavily on your mind as you file your taxes this year—or you're wondering what may be in store for 2018 once all the new tax reforms take effect—then let this guide help you decide. Particularly if you've bought a home recently, itemizing your deductions could save you major money when you file, but … [Read more...] about Standard vs. Itemized Deduction: Which One Should You Take?
The wireless industry’s pivot to pitching unlimited-data plans hasn’t freed customers from having to do the math about the merits of these deals—and when you start exploring the four big carriers’ family-plan discounts, the calculations get exponentially more complex.The ads you’ll see don’t make it look that way, instead emphasizing the initial savings you can get by putting two, three, four or more lines on one plan with no-limits data for all. This generosity is not by accident: The more devices and people you have on an account, the harder is to switch them all to a competing service.(The same logic applies to “triple-play” bundles of Internet, TV and phone service--except that unlike family-plan deals, those packages usually get much more expensive after the first year or two.) More: Internet bill too high? Here's how to save More: 7 ways to lower your cable bill So any decision to sign up for a multiple-line … [Read more...] about The family cell-phone bill: How to find savings on shared wireless plans
Never mind all the Democrats who call the GOP’s tax bill a deficit-busting giveaway to the rich; House Speaker Paul Ryan, R-Wis., has been enthusiastically promoting it as a middle-class tax windfall. He’s been coaching other Republican lawmakers to sell the $1.5 billion tax cut to voters, and telling people on Twitter to check their paychecks for wage hikes. The bill – which was deeply unpopular when it passed along party lines in December – is now breaking even in a new opinion poll. So Saturday morning, by way of good news, Ryan’s Twitter account shared a story about a secretary taking home a cool $6 a month in tax savings. Here is the passage in the Associated Press: “Julia Ketchum, a secretary at a public high school in Lancaster, Pennsylvania, said she was pleasantly surprised her pay went up $1.50 a week. She didn’t think her pay would go up at all, let alone this soon. That adds up to $78 a year, which she said will more than cover her … [Read more...] about Paul Ryan celebrated the tax cut with a tweet about a secretary saving $1.50 a week
Annuities are an insurance product designed to provide income during your retirement. If having an extra source of retirement income sounds good to you, you'll need to determine whether an immediate or deferred annuity is the best choice in your situation; making the right selection can result in significantly higher returns over your lifetime. Annuities 101 An annuity is a contract you make with an insurance company that requires it to make payments to you. When you sign an annuity contract, you can choose either an immediate or a deferred annuity. With an immediate annuity, you'll annuitize your investment at once -- meaning you'll convert that lump sum of money into a stream of future payments. Deferred annuities allow you to leave your invested funds sitting with the insurance company for years or even decades, which gives the money a chance to grow before you lock in your payment amount by annuitizing the investment (indeed, many holders of deferred annuities never do … [Read more...] about Immediate vs. Deferred Annuity: Which is Best for You?