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

Your kid’s first bank account should be a checking account. Some parents opt for a kid-friendly prepaid debit card instead, which isn’t technically a bank account but can perform the same basic functions. Your kid’s second bank account should be a savings account, and it should come close on the heels of the checking account. … Read more

Kid-friendly debit cards have lots of built-in advantages, including full adult ownership (usually) and tight controls on transactions. They also tend to have robust educational features and tools to reinforce the money lessons kids naturally learn by using them.The downside is kid-friendly debit cards tend to have higher fees than kids checking accounts or savings … 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

As a financial planner, I get a lot of concerned questions from my clients regarding their investments. One recently asked me: What exactly happens if the brokerage firm I’m custodied with goes out of business? This is a great question because many people don’t know their investments have protection in the first place, or they’re … Read more

If you’re a student (or parent) looking for a place to park your money without excessive fees or unrealistic balance requirements, check out the impressive array of low-cost, low-balance checking accounts available to students. Some actively restrict membership to younger individuals, most often those between 17 and 23 or 24 years old. But others are … Read more

Business banking is a little different from consumer banking. Our master list of the best online banks around is surprisingly short on business checking accounts with no monthly maintenance fees, minimum balance requirements, or monthly transaction limits. Also, most business bank accounts impose transaction limits and demand hefty minimum balances to waive high monthly maintenance … Read more

Historically, one enormous advantage the wealthy had over the rest of us was access to expert investing advice. They didn’t need to be experts on stocks or market movements or investing. They could pay someone to “just take care of it.” Today, everyone has access to expert investing advice — if not through human investing … Read more