Thoughts on teaching children about savings accounts and basic finance
Some parents don’t open online savings accounts for children because they are concerned or wary about making transactions online – and with some good reason. On the other hand there are some reasons which are unwarranted and other reasons in favor of working with accounts online that it still makes sense to do so....
High interest savings accounts, FDIC insured or not, are vulnerable to the same sorts of liquidity interruptions as any other FDIC insured account… only now the FDIC is starting to ask banks for money in advance. Why is that do you suppose? While regulators and prominent figures such as Fed Chairman Ben Bernanke talk...
People ask me why open a high yield savings account these days when rates are only 1.35%? In all fairness that is a good question, because there are plenty of higher paying CDs out there – but CDs as we know have their problems too. Making a decision to open a high yield savings account...
A high interest savings account online makes a lot of sense when you have your finances squared away and have the ability to stash your non-emergency cash in a better yielding account. This online savings account is not for the money you need to pay bills or to provide emergency liquidity in the face...