Services like credit cards, saving & checking accounts, loans, etc., are provided by banks and hence we choose to use their services. However, the services level ranges widely with every brand in the US.
However, the decision of switching a bank or a bank account is influenced by number of factors.
Higher Interest Rates
This doesn’t necessarily mean only interest rates. I am talking about general monetary benefits offered by a bank. Though interest rate given by banks, which is 0.5% currently, is governed by the Fed to a larger extent, other benefits are not. Frugal people select a bank that offers $100 with every new account, or something like that. However, monetary benefits remain to be the most influential factor in switching a bank.
Service level
Most of us love exceptional [...]
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What is the Right Amount of Life Insurance for an individual?
Posted on 04 March 2010
One of the popular questions that haunts people in middle ages of life is “How much do I need to save as life insurance?”
Although the answer to this question isn’t quite difficult, it’s requires some basic explanation. Or rather, the answer to this question depends on the answers of many other interrelated questions, such as: What is the kind of lifestyle you want you family to live after you are gone? How will your death impact your family, financially? Is there any other earning member in your family? Do you want them to be extremely rich? Or, would they be financially impacted if you pass away?
However, along with these preferences, the right amount of life insurance you need also depends on your existing financial standing.
Most of the people, commonly, want their debts [...]
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See how a sporting event can benefit the local economy?
Posted on 01 March 2010
Whenever there is an economic blow, one of the first ones to get affected is the local economy. The hotel and retail industries are very vulnerable to bad economic conditions. But when a big event, like a sporting event, takes place in the affected country or city, it is expected to create some wealth for the city as there are more visitors to the city which is expected to boost business. Here are some ways in which the increased visitor traffic during a big sporting event, such as a World Series or a Super Bowl is going to boost up the economy of the host city.
Hotel Bookings
The first industry to see an increased business during a big sporting event is the hotel industry. The players, celebrity guests and outstation spectators will all need places to food and lodge and they book hotels [...]
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Straightforward Tips on Budgeting
Posted on 23 February 2010
According to many people, one of the most important steps to achieve financial stability is having a practical budget. For me, it’s the best one. Few believe investing is the only way to achieve financial firmness, after the world witness huge monetary crisis.
For those who still like to stick to investing, this article is definitely not for you because I am going to discuss few important tips on budgeting. Probably there are millions of methods of budgeting available on the web. And there are millions of formulas. However, you don’t really have to master all of them. In fact, you don’t have to consider even one because the basics are quite simple. And if you know the basics I don’t think you really need any methods or formulas.
First thing you need to do is determine the amount [...]
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5 Personal Budgeting Myths
Posted on 23 February 2010
For many, budgeting means suffering. Not actually, because it’s a myth. And there are many such myths people believe when it comes to personal budgeting. More than myth, I guess these are excuses of not having a budget. Let’s have a look at other such myths.
Personal Budgeting Myth #1
Budgeting is suffering
And how is that? In fact, you are always on a budget, whether or not you have planned it. However, the current budget is not saving you any dollars and not helping you in any way. Budget isn’t suffering. In fact, it is an end to your suffering as it helps you to avoid being buried under debts, save for more important things, and be independent.
Personal Budgeting Myth #2
Budgets are for poor people
This is another misconception people have. They believe budgets are adopted [...]
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Tips on Saving Money for Young Adults
Posted on 23 February 2010
Saving money was quite essential and it became more crucial after we witnessed the effects of financial crisis on common man. Here are few tips on saving money for young adults.
Have a budget
Young adults don’t have much responsibility as most of them aren’t married and don’t have kids to take care of. This is probably the best time to inculcate the habit of living with a budget. It’s quite simple to start with. At the beginning of every month, determine the amount of money that will be flowing in. Then, deduct the amount you will be spending as necessary expenses and think about how you will invest the left over amount. Gradually, start reducing the amount you spend on various things.
Start saving early
Probably there isn’t any right age to start saving. However, starting early [...]
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5 Best Ways to Save Money on Electricity
Posted on 23 February 2010
Exactly a year ago, my electricity bills were more than three times it is now. Every time I had a look at my bills, I used to get a minor heart-attack. Hence, I decided to cut down on these bills before it becomes a major reason of my death. Yes, these minor attacks could have transformed into major ones and I could have died.
However, I created a live-saving, or rather electricity-saving list that helped me regain my health and my heart. Let’s have a look at few best ways to save money on electricity bills.
CFL Bulbs
Also known as Compact Fluorescent Bulbs, these bulbs are quite useful as they save loads of energy. I have replaced all the bulbs, including the one in my refrigerator, and have successfully cut down my bills. My bathroom used to have four bulbs. However, one CFL bulb [...]
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List on How to Save Money on Phone Bills
Posted on 22 February 2010
Times are tough and it has become quite crucial to save money wherever we can, to survive and fight the economic battle. We don’t really realize how much money we spend on phone until we have a closer look. Here is a list on how to save money on phone bills.
If most of your outgoing calls involves international calling, it’s advisable to ask your service operator to provide a ‘pay per second’ or ‘pay per 10 seconds’ plan. This has proved to be a much cheaper plan than ‘pay per-minute’ plan. Many times, your conversation time is as short as 10 or 15 seconds, and you have to pay for the whole minute. Sometimes, the person on other end is not able to hear you clearly. In such cases, you disconnect the call within 10 seconds. However, you pay for the whole minute. Hence, it’s [...]
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Budgeting tips for single mothers
Posted on 22 February 2010
Financial hardships faced by single mothers are much more intricate and difficult. Hence, a budget is much needed to keep their finances on track. However, there are very few articles on the web on this topic as compared to the generic ones. Hence, let me point out few budgeting tips for single mothers.
Planning
An effective budget is an outcome of efficient planning. Hence, it’s very important to plan how’s, what’s, and why’s of your budget. A budget cannot be made in an instant. An individual has to first analyze several things like income sources and amount, daily expenditures, recurring costs, etc. Keeping all these things in mind an outlay of budget is created, which is finalized after few trials.
Set Priority
Budgeting is all about prioritizing. Single mothers must ensure [...]
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Top 10 ways to save money on your wedding
Posted on 21 February 2010
Wedding is definitely a pleasing event. However, the cost involved to arrange a wedding is quite high and unmanageable. But if you think intelligently, you can have a cheap but very beautiful wedding. Here are top 10 ways to save money on your wedding.
Fewer Guests
With every name you add in your guest list, you are increasing the budget considerably. It’s not just food cost, but you also spend more on rentals, centerpiece, favors, etc. It’s not really important to invite people whom you haven’t talked since last 3-4 years. And don’t compel people to bring a date, if they are single.
Save Postage cost
Avoid having a blotted paper or inner envelopes in your invitation. Get a cheap but decent envelope instead of an expensive one. It’s really unnecessary to have a reply card. [...]
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7 Effective Money Saving Ideas
Posted on 20 February 2010
Dividends, bonuses, and paychecks don’t last long. Hence, saving money regularly is a difficult challenge for most of the people. However, it isn’t much difficult if you have the right approach. Here are 10 most effective money saving ideas that can help you to accumulate a huge amount over a period of few months.
Track your spending
We come across many things everyday and we spend money on them casually. Later, at the end of the month, we wonder where we spent so much. Hence, tracking money is an effective way to know your spending habits and your attitude toward saving. This will also help you to know which expenses are important and which can be avoided. Do you, for instance, purchase coffee every morning when you can get it for free in your office?
Pay Yourself
Time and again, [...]
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