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If your high schooler is ready for a checking account of their own — so long as it has training wheels — then Chase High School Checking needs to be in the running.  Though it doesn’t earn interest on balances or rewards on debit card purchases, it claims a spot on our list of the … Read more

Wells Fargo Clear Access Banking is not the best kids’ bank account on the market. It does make our list of the best bank accounts for kids, but only just. Good thing Clear Access Banking isn’t only a kids’ bank account. Unlike most of its competitors, it’s designed for older teens and young adults as … Read more

Thinking about converting your retirement account to a Roth IRA? It’s easy to see why the Roth IRA is so incredibly popular. Contributions to a Roth IRA are made with income that has already been taxed, meaning there’s no initial tax benefit, but the money you have in a Roth grows tax-free over time. Roth … Read more

Financial bloggers often portray the traditional IRA vs. the 401(k) plan as a debate, as if one plan is better than the other. In truth, they’re very different plans, and they fill very different needs. If you can, you should plan to have both. This is especially true if your 401(k) plan is fairly restrictive. … Read more

I like to think I know more about credit cards than the average person. I’ve written dozens of credit card reviews for Money Crashers and personally tried out more credit cards than I’d like to admit. So I was surprised and a little embarrassed to learn for the first time recently that the IRS permits … Read more

You can open a bank account for your child long before they attend their first school dance or slide behind the wheel of a car for the first time.  And you should because kids learn by doing. A parent-supervised checking account is the ideal tool for teaching your child the value of money and getting … Read more

For those old enough to remember, the sudden failure of Silicon Valley Bank in March 2023 dredged up uneasy memories of the late-2000s financial crisis. Back then, the world’s biggest banks teetered on the brink of implosion, and ordinary people worried — rightfully so — whether their money was safe, even in “too-big-to-fail” banks. Silicon … Read more

The Alliant Credit Union Teen Checking Account earns a spot on our list of the best bank accounts for kids for several reasons. For starters, it’s virtually fee-free. It can earn a decent yield on all balances. It has a big network of fee-free ATMs and a generous reimbursement fund for out-of-network ATM transactions. It’s … Read more

The concept of a family trust—also known as a revocable living trust—isn’t very well understood by many people. The differences between a trust and a simple will, for instance, are frequently confused. While it’s somewhat more time consuming—and therefore, more expensive—to have a family trust prepared than a will, there are significant benefits of the … Read more

Opening a bank account for your kids and becoming a joint account holder is a great way to: Reinforce basic banking concepts that we take for granted, such as adding and withdrawing funds Teach basic budgeting skills and demonstrate the importance of spending less than you earn, a cornerstone of financial responsibility Demonstrate the importance … Read more