by Dana Sitar, CEPF®, Jamie CattanachOnline banking is a great way to manage your money without having to schlep to a brick-and-mortar location. Managing your money through an online platform can also help you avoid many of the fees associated with traditional banks.Many online banks offer a full range of financial products, including regular deposit accounts. But if you’ve already got your checking account taken care of, you might still
by Nicole DowSenior WriterThe holiday season is an expensive time of the year.You’re buying presents for loved ones, decorations for the house, extra groceries for big dinners and outfits for holiday parties. You’re giving special tips to service workers and spending money to travel to visit family.All the money leaving your bank account can cause a bunch of financial stress. It’s good to have some things to do during the
Best Overall for Small BusinessesWells FargoAPY n/a Best for High Yield SavingsAxosAPY up to 0.81% Best for Credit Card OfferingsChaseAPY n/a by Dana Sitar, CEPF®, Jake Bateman If you’ve started your own company — or you’re considering the move — you’ve likely marveled at the logistics required to pull it off. Popular first-time small business owner (SMB) questions include: How do taxes work now? What do I need to know
by Rachel Christian, CEPF®Senior WriterThe COVID-19 crisis has affected the way many Americans are able to save for retirement, with surprising disparities among age groups, gender and even geographic areas.Nearly 17% of Americans say they’re saving less money for retirement due to the pandemic, according to a new survey by The Penny Hoarder, which also found that 16% of respondents are saving more money in response to COVID-19. The survey
by Dave Schafer It might not be much of a stretch to say that saving is more important than ever these days. With so much uncertainty in the air, having some funds tucked away for a rainy day definitely can’t hurt. If those funds can continue to grow, even better.That’s where Synchrony Bank shines. With several highly-competitive savings account options, all with no monthly fees, it’s a fantastic online bank
Real Answers for Life’s Money Challengesby Robin Hartill, CFP®Senior EditorApproximately two years ago, my spouse agreed to financially help one of his best friends. The best friend convinced my spouse to take over his student loan. The friend promised to reimburse my spouse monthly for the debt. The debt is in bank draft form. Each month the payment comes out of our account. Unfortunately, the friend is several months behind with
by Timothy MooreContributor American Express National Bank is a strong contender for customers in search of high-yield savings options and — for those able to handle a little less liquidity — impressive certificate of deposit (CD) options. Known largely for the Amex credit card, American Express Bank is an FDIC-insured online bank that offers a savings account and a high-yield certificate of deposit. In addition, you can utilize American Express
by Robin Hartill, CFP®Senior EditorWhen your 62nd birthday approaches, you’ll have a big decision to make: Should you take Social Security at 62 and accept lower benefits? Or should you delay Social Security to get a higher benefit amount?The answer to whether taking Social Security at 62 is the right move for you depends on several factors: your life expectancy, whether you’re retiring early and your overall financial situation. Here
by Timothy MooreContributor Capital One has eliminated overdraft fees and non-sufficient fund fees for all of its consumer banking customers, making it the first major U.S. bank to do so. It joins a list of seven other smaller financial institutions that have already ditched overdraft fees and the question is now, will more big banks follow suit? No More Overdraft Fees at Capital One Capital One is not the first
by Nicole DowSenior WriterIt’s easy to overspend when you shop online.You buy things with the click of a button, no cash exchanging hands. You can shop in your pajamas at 2 a.m. And once you’ve made your purchase, you see targeted ads everywhere, enticing you to buy more.But if you can fight the temptation to impulse buy, online shopping can help you find the best deals — especially when you
