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
Cash-back credit cards are popular because they provide tangible, easy-to-understand benefits. Who doesn’t like getting a credit on their monthly credit card statement – or, better yet, actual cash deposited into the account of their choice? Cash-back credit cards can be even more popular than our top-rated gas credit cards and travel rewards cards. But … Read more
It’s becoming increasingly difficult to find truly free checking accounts. But they’re still out there if you know where to look. Indeed, many online banks and a few choice brick and mortars still offer legitimately free, FDIC-insured accounts with few restrictions and plenty of sweeteners. Some even pay interest, though not enough to keep up with … Read more
Travel rewards credit cards are not one-size-fits-all. They fall into several broad categories. These categories include airline rewards credit cards designed to reward spending with specific airlines or airline partnerships, hotel credit cards that focus their rewards firepower on hotel stays and related expenses, and even cash back credit cards that offer accelerated cash back … Read more