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With consumer debt causing millions of American families distress, it is a good time to start focusing on setting savings goals. Teaching your children to save from a young age may prevent them from joining the ranks of others totaling $858.4 Billion in consumer debt. This averages out to $7,194 per credit card in debt. Since 46% of Americans have credit card debt, learning how to save is more important than ever! Here are some ways to focus on saving at any age.
Young Children
Take your children to a local bank and open a savings account. This is a simple way to teach elementary-aged children about banks, savings accounts, credit cards, checking accounts, and retirement accounts. While… » Read more
Are you looking back and forth between a bank and a credit union? Deciding which financial service to use is important to your financial outlook. How can you decide which bank is best for your situation? Here are some tips to help you understand a credit union.
Facts about Credit Unions
A credit union is owned by the members of the credit union. The customers are considered members. When you sign up with a credit union, you are investing in the financial institution. This essentially means you are shareholder in the bank. Due to this, a credit union will give back dividends and other bonuses as they make money. A credit union is… » Read more
Many people are used to taking their debit or credit card with them just about everywhere they go. Both accounts are linked to different banks and it is important that you understand such differences and which type of payment method you should use. Here are some of the major differences and things that you need to think about.
Debit Card
When using a debit card, it is usually linked to your checking account and the money will pull directly from this account. This can be convenient if you do not like to carry cash or a checkbook with you. However for a person that likes to spend money frequently, it is important that you look at your account and… » Read more
