Banking Saving

Tips to Follow When Opening a New Checking Account

If you plan on opening a new checking anytime in the near future you should start doing your research now so that you don’t just jump into it and make the wrong decision. When it comes to opening a new bank account some people simply head down to their local bank and just open a new account, but if you do this you may be missing out on a better deal for your finances. Here are some tips to follow when you open a new checking account.

Before you even consider opening a checking account with a bank be sure that you check to make sure the bank is FDIC insured. This insurance guarantees that your money (up to $250,000 per person) will not be lost if something were to happen to the bank. With the way the financial industry is nowadays, it would be very unwise to invest your money into a bank that doesn’t have FDIC insurance. You should also check the Better Business Bureau and any complaint boards online to see if the bank has very many negative reviews against them.

You next need to consider what type of checking account you want to open. There are all kinds of different options from free checking accounts with no deposit to interest bearing accounts. Determine what account best fits your lifestyle and finances rather than just settling with any old account. Be sure to consider things like locality of the bank, online banking and bill payment, fees associated with the account, and how much money you will be keeping in the checking.

Lastly, once you have decided what you are looking for and have narrowed down your choices in banks, look to see if any of the places have any bank account promotions currently running. Sometimes you may get lucky and be able to sign up for one of these promotions and get some cash back or a free gift like an iPod. It never hurts to try to take advantage of these promotions if the bank is one you are interested in.

Opening a checking account shouldn’t be taken lightly. Be prepared to do some research on banks and checking accounts so that you can get the best account for you.


Options for Electric Bill Help

An average adult these days have a lot to worry about especially when it comes to expenses. What with all the prices of basic commodities and services, the mere thought of all of your monthly payment responsibilities can become stressful. Electricity cost is not an exception; these days the cost of providing electricity to our houses can be very expensive especially if we do not practice how to save energy. Nevertheless no matter how expensive electricity cost can be, it is an important aspect of our daily living which is why we have no other choice but take it all in and look for means to keep up with paying the monthly bills. If you are having problems with paying off your bills, below are options for electric bill help that you may want to consider trying.

Seek assistance from your electricity provider.

When you are having troubles paying off your electric bills, the first option you should consider turning to for help is your electricity provider. It is highly likely that they have encountered thousands of customers having problems with electric bills which is why most companies will have assistance programs to help out their customers. You can inquire if they allow payment plans or if they can refer to you to any person or agency that can help you with your electric bills.

Explore energy assistance programs.

Every state will have some type of energy assistance programs for their citizens. Take time to explore what energy assistance programs are available in your state and see if you qualify to avail of such program. There are various government funded assistance programs that are spread throughout various states; for every type of assistance program there will be some requirements that you need to follow to avail of such program. Some of the common energy assistance programs are LIHEAP, EHEAEP, USF, and the like.

Seek help from private foundations.

Do a quick search in your yellow pages or on the internet, and you will find various non-profit foundation that are more than willing to help out people with financial problems. Inquire in every possible foundation and explain to them the nature of your problem, if you qualify for their assistance programs then you can formally apply to their foundation.

Although it may seem embarrassing for some to seek help with paying off electric bills, electricity plays a big part on our everyday lives that you should set your ego aside and seek help when needed.

Investing Saving

Does Inflation Effect You Today

Prices are on the rise and many people wonder why, there is just not a rise in certain products but most have gone up all across the board. This is due to the rate of inflation rising and that is caused mostly by the government printing more money. They call this quantitative easing but all it really does is raise prices and makes most peoples lives harder.

The government causes this to happen and it can be for a number of reasons such as to pay of debts or to make the economy look better than it is. When paying off debts if the government inflates the dollar then it will be worth less but their debt price stays the same. Thus they have just printed off fresh dollars and can use them to pay off the debt with dollars that are worth less. This then causes are prices to go up in order to compensate for the inflated dollar that has just been released.

Another reason the government likes to inflate the money is to make the economy look like it is doing better than it really is. The numbers are misleading, if more money is printed then given to the banks then loaned out to the people at lower interest rates and the people buy stuff with it then it will look like the economy is growing. But the truth is that it is not, we are working off of loaned money that is worth less than a year ago.

The question is why does the government do this if it will not really help the economy, it could be because they do not have a solution to the problems we face and thus they are creating problems that they have solutions to. Or it could be because they do not care about the people and thus only want to solve the problems that are in their face, not ours. No matter the reason they are not doing the right things, and they do not look like they are going to figure out a better plan any time soon.

Pensions Saving

Knowing the Best IRA That Fits You

There is no doubt that Individual Retirement Account is the most sought after retirement plan in the United States. Knowing the rules incorporated in your IRA is very important and is very easy to do but having the best IRA is a bit puzzling. We all know that there are many types of IRA accounts and having the best IRA for you needs a lot of work to do.

In order for you to know that you have the best IRA you can discuss with your provider the reasons why you like to open an IRA like your goals and needs it is also necessary that you need to be honest about your financial capabilities in order for you not to encounter any problems regarding minimum contributions and contribution limits along the way. An honest discussions with your provider given the fact that it belong to the best IRA companies is one key on getting the best IRA that fits your lifestyle.

For many opening an IRA is simple because you just need to visit any IRA provider and fill out a form but it could somehow be difficult when you want to have the best IRA however if the reason why you want to open an IRA is to cut your burden from taxes, Roth IRA is best for you.

When you already have a Roth IRA it doesn’t mean that you have to stop doing extra work because once you open the said account you need to consider what type of investment you will deal with that will make the most money. The consideration of picking the right ingredients for your IRA investments will surely save you thousands of dollars over the years.

There is one main disadvantage of Roth IRA that you need to know, Roth IRA is not tax deductible which means there is no deduction on your adjusted gross profits that will reduce the amount of your taxable contributions, however as your account matures at the same time will become tax-free up to the point that it will never be subject to taxed again. Over all Roth IRA is the best IRA plan because there are no earned income limits, no forced withdrawals and above all no contribution limits as long as you reached a certain age set in your Roth IRA.


Fears About Long Term Saving

There are a lot of people who tend to go into a long term saving investment. They are quite confident that their investment will eventually grow to the point that they can consider it a good investment. But you should know some pitfalls about long term investments before being so mesmerized by it earning capabilities. The thought that you just have to sit there and watch you r money grow bigger will captivate almost everyone’s interest but like any investment, there are some risks that you should consider to know whether investing on this kind of term is a good choice or not.

High Inflation Rate

Inflation rate can definitely be a big factor in long term investments. It is the rise and fall of commodity process and is usually an indicator of how the economy on your country is performing. You should carefully look at the stability of your country’s economy before investing on this kind of venture because one mistake could lead your money into useless papers. In simple terms, if the inflation rate is high, you should be alarmed because if the banks interest rate cannot keep up with the inflation, your money will lose some purchasing power and it is also a lost for you.

Deterioration of Investment

Year after year, if this continues to happen, you may not feel it in terms of your money’s amount but you will observe that the things that you can’t afford those things that you can buy before using all your invested money this because the purchasing power of your money was lessened because of inflation.

Bank account no credit check is not your choice in this king of investment because these type of bank account has many limitations. If you can’t provide yourself with the standard, full pledge bank accounts then you should look at the requirements that you lack and try to fix those in order to avail full services. You should always deal on present situations and think of the future. Be sure to be reasonable in every decision that you will make to avoid some regrets in the near future.


Anyone Can Save Money

There are many ways to save and invest your money so how do you choose which way is best for you? Doing research on the different ways to save money would be the first step, so listed below are two ways anyone can save their money.

The Federal Deposit Insurance Corporation (FDIC) insures saving account and certificates of deposit, but not money market accounts. Yet a money market account has some of the same traits as a savings account and a CD. The interest rates tend to be higher than a savings account yet lower than CDs.

The money in a money market account can be taken out at anytime like a savings account. Checks can be written on the money in a money market account but the amount of money written, how many checks, and minimum account balances are all monitored, thus it does not allow complete freedom with your money. You can typically open a money market account at any place that also allows saving accounts and CDs.

There are different kinds of money market accounts, so research is necessary in order to find which kind you would like to place your money in. Another kind of savings are Certificates of deposit or CDs. As stated above CDs are FDIC insured but usually earn a higher interest rate than saving accounts.

The reason CDs earn a highere interest rate is because the money is not as easily accessible. There is a waiting period of minimally usually six months before the funds placed into a CD can be withdrawn. By pulling money out of a CD before the specified wait time is up you will be charged fees. But if you have extra money that you think you will not be using for a while a CD is a great way to earn some extra interest.