Plan ahead. Work hard. Retire young.
RSS feed
  • Virtual Credit Cards, Debit Cards, and Checking Accounts

    Ever since the advent of online shopping, many people have worried over whether it's safe to reveal their credit card information online. A virtual debt card or credit card is the solution; it works just like a regular card, but restricts charges to a certain amount or retailer. Many banks and credit card companies provide virtual card numbers at no charge. Paypal, for example, offers a virtual debit card that generates a unique number each time you make a purchase, with the money coming from your bank account, credit card, or paypal credit.

    Read the rest of this entry »

  • Checking Account Promotions

    Some days, it seems as if every bank out there is trying to get you to open a checking account with them, and most are willing to offer you some bonus to do it.  The day of this writing, for example, the author got an offer of $75 to open a new checking account with Chase bank (as he already has two, he declined). What should you look for (and avoid) when considering a checking account promotion?

    Read the rest of this entry »

  • Passbook Savings Accounts

    A passbook savings account is simply a savings account in which deposits and withdrawals are recorded in the depositor's passbook. In other words, this is how savings accounts were done in the dark ages before online banking and internet savings accounts! The bank customer would use the passbook to keep a running statement of all credits and debits to his account, including deposits, withdrawals, and interest.

    Read the rest of this entry »

  • Internet Savings Accounts

    These days, most of the big banks seem to be pushing internet banking, and why not? It saves them a lot of money to have you doing things online, so they don't have to pay for real estate, tellers, etc. That said, internet banking is a great thing for the average person as well; not only is it a huge timesaver, but in many cases you can get a higher interest rate from online-only banks than you can with the standard B&M (brick and mortar) banks. Read the rest of this entry »