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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

The first step to smart investing with a CD (certificate of deposit) account is understanding what it is and why it is a smart choice. A CD is a type of savings account that typically requires at least $500 to open. When you deposit this money into your CD you agree to not touch it for a specific amount of time, this is known as the term of the CD. However, in exchange for not touching this money you receive a higher interest rate. This means no matter what the economy does you will receive a return on your CD investment.

However, as with any investment you make you need to know tips and tricks… » Read more