State budgets are being slashed left and right. One of the things states tend to cut are funds intended for state universities. The school then has no recourse but to increase tuition rates. Across the nation we are seeing tuition rates on the rise, thus it is never too early to start saving for your kids college education. This article will discuss the benefits of the 529 College Savings Plan and how it can make saving for college a bit easier.
It’s easy to get yourself into financial problems, but getting out of debt is not easy. You need a long term plan and the determination and patience to see it through. So how can you get out of debt? Follow the steps I’ve outlined below.
Much ink has already been spilled on the subject of how to borrow money. Thanks to the current economic crisis, it seems that more of us are in need of information on the subject of mortgages, loans and credit accounts than we are on the subjects of savings accounts and investment opportunities. But for those who find themselves in the privileged position of being able to set aside some of their hard earned cash, here is a brief introduction to the different kinds of saving and investment possibilities that are currently available on the financial market.
Anyone who has experienced money worries will know that debt problems are some of the most stressful difficulties an individual or family can face. Worrying about whether or not you will be able to meet payment deadlines or pay the mortgage this month take their toll on your happiness and health but by following some straightforward tips to improve your budgeting techniques you can gain control of your finances and avoid bankruptcy.
The easiest way to avoid those pesky ~$35 overdraft fees is to NOT opt-in to let the banks charge you. That way you’ll get declined rather than have the charge go through plus the extra fees. Here’s what you can do to avoid getting too close to zero.
1. The old fashioned balance your checkbook thing never fails.
2. Link your checking account to your savings account, so if you get too much from your checking, your savings takes over.
It’s getting harder to find a place to keep your savings lately. I used to get around 6% APY from some online savings accounts as was chronicled on this blog several years ago. Now I’m hard pressed to find any bank offering just a mere 2%. I have been using GMAC/ALLY bank for 3 years now. I’m just going to keep my money there for now because I get 0% if I leave it under my mattress. Before anyone says that I should invest it, I’m only interested in FDIC insured accounts.
If they pay so much, why am I not going to throw some money into my Paypal account and keep it there?
First, Paypal has a history of “freezing” accounts for no reason. Back in 2001, I had an account frozen and all of my funds were frozen as well. I couldn’t withdraw my money or accept any either. They asked me to send them information about me. It’s been so long I forgot what they wanted, but probably a copy of my state issued drivers license and a copy of a credit card, and most likely a copy of a current utility bill. I sent in everything and I never did get that account re-opened.
If you think this was a fluke case, then take a look at Paypal Sucks. It’s happened to lots of other people too. I think Paypal has cleaned up its’ act after being sued, so I doubt anything like that would ever happen again. eBay owns it now too so that’s given me enough confidence to keep using Paypal under a new account I created soon after my first one was closed. Just how confident am I in Paypal? Well I use it to pay for my eBay purchases and receive money from my eBay sales, but as soon as I have money in there, it goes right back to my bank account.
Just a couple of months ago, I “accidentally” left a few hundred dollars in my account.. I was surprised to see it earned interest, as I had forgotten Paypal offered that. I think it was 5.05% APY. Not too shabby, but not FDIC-insured, so “save” at your own risk.
I like their high interest rate. But they don’t update how much money you’re making until the end of the period, every month. With ING, you can log in every single day and see your interest grow day in day out.
The HSBC website also looks like it was built years ago by a beginner in web design. There’s also many features but it’s complicated and ING’s site is much easier to navigate and the sign-up process is much better.
Ultimately what it all boils down to is the money, so I’ll stick with HSBC for the high rates, for now at least.
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