FDIC insurance limits: When $250,000 isn’t the real number
A married couple with $950,000 at one bank can have it all insured or leave $100,000 of it exposed depending on how…
Saving & Banking
Where you keep cash matters less for the rate than for two things: whether it is insured, and whether fees eat it. FDIC and NCUA insurance cover up to $250,000 per depositor, per institution, per ownership category.
Start with how much to keep for emergencies, then how deposit insurance works and where high-yield savings rates come from. To keep fees off your balance, read how to turn off overdraft fees; if a bank turned you down, second-chance accounts exist.
Denied a bank account? How to get a second chance
Why banks deny checking accounts, how to get and dispute your ChexSystems report, and how to pick a second-chance or Bank On…
Credit union vs. bank: Which one fits how you save and borrow?
The difference can be hundreds of dollars on a car loan, but the cheaper lender for borrowing isn't always the one that…
High-yield savings: what makes the interest rate so high?
The gap between the best rate and what big banks pay can be worth hundreds of dollars, even on a modest balance.
Overdraft fees: the setting that decides if you pay them
A single $35 fee on a small purchase can work out to a 21,000% APR, but a simple change in your account…
Checking account no fees: what a ‘free’ one really costs
The cost of meeting a minimum balance can be higher than the fee itself, before you even account for other charges the…
CD vs. savings account: The cost of an early withdrawal
Withdrawing $10,000 from a CD just a few months early can erase your earnings and sometimes even eat into your principal, our…
Emergency fund: how to calculate your actual number
The classic six-month rule of thumb is a blunt instrument that ignores how long a job search can actually last in your…