banking

Did you know there are 17 million people in the U.S. without a bank account? Many millennials think they don’t need one, even though trust in financial institutions is low. However, having a checking account is really handy for handling daily finances. Here are five good reasons why it’s important: 1. Proof of Payment with …

Have you ever thought about how convenient online banking can be? I switched to an online bank a few years ago, and it’s been great ever since. Online banking isn’t just convenient—it’s often cheaper, too. Unlike traditional banks, many online banks don’t charge a lot of fees. Because they don’t have expenses like maintaining branches …

Money laundering is a sneaky way criminals try to make their dirty money appear clean and legitimate. While it’s mostly used to hide cash from shady sources, sometimes it’s also used to secretly stash away legally-earned money, like in messy divorces where one partner tries to keep their assets hidden from the other. The process …

If you’re thinking about opening a new checking or savings account, or maybe both, you’re probably trying to figure out which bank is right for you. Banking plays a big role in everyday life, so it’s important to find one that matches what you need. Here are some things to think about that could help …

Teaching kids about money management is crucial, and knowing where to start can sometimes be tricky. A basic checking account is a good entry point since it’s something everyone needs as an adult. It’s helpful for parents to guide their teens in understanding checking accounts while they’re still living at home. Here are some tips …

Offset mortgages are gaining popularity, now making up 10% of new mortgages, mainly due to their flexible repayment options and convenience. These mortgages work by applying interest only to the remaining loan amount after subtracting any savings held by the borrower. These mortgages are particularly beneficial for those who have saved at least 8% of …

Is online banking better, or should you stick with a traditional, physical bank? Since 2011, around 700 million people have opened bank accounts. Many are now opting for online banking instead of local banks or credit unions. For me, online banking saves time, but I understand why some people prefer a traditional bank. If you’re …

Having an emergency fund is crucial for achieving financial stability, but saving money can be tough, especially with the low interest rates offered by traditional banks. So, how can you save effectively? High yield savings accounts are the answer. There are plenty of options out there, so it’s important to choose the right one for …

Mortgage lenders often make their interest rates highly visible, but they rarely explain how these rates work. For instance, let’s say you take out a 30-year mortgage for $200,000 with a 7.5% interest rate. This would result in a monthly payment of about $1,400. But where does that 7.5% rate come from? Simply put, it’s …