Category Archives: Banking

Why I Don’t “Bank on Yourself,” and You Shouldn’t, Either

First, I don’t think “Bank on Yourself” is a scam, I think it’s a terrible, terrible deal.  Here’s my understanding of how the “Bank on Yourself” concept is supposed to work (abridged version)*: You create a financial plan with an … Continue reading

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Ask An Advisor: Which Credit Card Is Best?

Dear Abigail, My daughter plans to apply for a credit card.  Which one should she get? – Client Dear Client, Good question!  There are thousands of varieties of credit card available in a rainbow of colors and “metals” (even platinum!)  … Continue reading

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Living Mortgage Free – Honestly

What is it about mortgages that attracts such throngs of scammy, bad ideas?  I just had the displeasure of cruising through the underbelly of a website that purports to sell you the secrets of shedding your mortgage.*  The site is … Continue reading

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The Unsettling “Silence” of JPMorgan Chase & Co.

Have you ever had to babysit a loud toddler?  After a while you get used to the noise and start to ignore the kid.  You step into another room, for just a minute.  Then you suddenly notice something. It’s quiet. … Continue reading

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The Ultimate Guide To Saving Money

Do you want to save money but don’t know where to start?  Do you get confused by all the different and conflicting advice on saving money?  Never fear, in one short post I will show you how to save money.  … Continue reading

Posted in Banking, Financial Planning, Income, Spending | Tagged , ,

Zombie Bank Accounts – The Penny That Won’t Go Away

Sometimes an account just won’t die.  Here’s one subtle reason why your brokerage account may claw its way up out of its grave, and how to put it back in again.  Let’s learn from this poor soul’s experience. From Consumerist: … Continue reading

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To All Those Playing “The Mortgage Form” Game At Home…

You’ve been playing along in the Consumer Financial Protection Bureau‘s Know Before You Owe program, right?  Well, I’m on their email list, and I got an important message from the CFPB for all those who participated in choosing the forms: … Continue reading

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Can You Pick The Best Loan?

I’ve been participating in the “Know Before You Owe” program at the Consumer Financial Protection Bureau for quite some time.  It looks like they’ve gotten to nearly a final draft of mortgage disclosure forms, and they need our help to … Continue reading

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The 5 C’s of Creditworthiness – How Do You Stack Up?

Have you ever heard of “The Five C’s?”  It was once how banks judged creditworthiness (back when they used to do that sort of thing.)*  The idea is that the lender can judge the chance that the prospective borrower might … Continue reading

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Know Before You Owe – Weigh In Now!

Alright, we’ve been following along as the Consumer Financial Protection Bureau has been working on improving the mortgage disclosure forms.  They’ve received over 18,000 comments, and are in the final rounds of developing the forms.  This is your opportunity to … Continue reading

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Finally, Distressed Homeowner Relief!

Neighborhood Assistance Corporation of America (NACA) has been featured on American Public Media’s Marketplace.  Take a moment to go look at what they’re doing to help distressed homeowners save their homes by adjusting the terms of their loans.  It’s jaw-dropping … Continue reading

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How Compound Interest Works

You may have heard of compound interest before, or compounding.  But how does it work?  Well, this is your lucky day!  I’ll show you how it works. It’s easiest to imagine interest in terms of bank products, like savings accounts … Continue reading

Posted in Banking, Financial Planning | Tagged , , | 1 Comment

The Secret History of the Credit Card

Here’s an oldie but a goodie!  Presented by Frontline through PBS (the same snappy reporting squad that brought you “The Madoff Affair“), “Secret History of the Credit Card” is a fascinating foray into the industry America loves to hate.  Pay … Continue reading

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Here’s Why I Don’t Live On The Edge

Yeah, Financial Planners sometimes make financial mistakes, too.  Just because you think ahead doesn’t mean that you won’t goof something up. Case in point: it’s last night, I’m running errands, and I’m tired.  I go to the bank’s ATM to … Continue reading

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Good Citizenship Opportunity!

That’s right, there’s another excellent opportunity to have your voice heard in government!  The Consumer Financial Protection Bureau has just released its next round of forms for your perusal and comment.  Take a moment to make your federal government regulation … Continue reading

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