Walk With Money » Amount Of Money http://www.walkwithmoney.com Take A Walk On The Wealthy Side Thu, 10 Feb 2011 16:32:42 +0000 en hourly 1 http://wordpress.org/?v=3.0.3 How To Benefit from the Right Savings Accounts http://www.walkwithmoney.com/how-to-benefit-from-the-right-savings-accounts/ http://www.walkwithmoney.com/how-to-benefit-from-the-right-savings-accounts/#comments Tue, 21 Sep 2010 13:20:03 +0000 Robert Wilkinson http://www.walkwithmoney.com/how-to-benefit-from-the-right-savings-accounts/ Read the whole article...]]> As banking fees rise and people are finding it harder to stretch a paycheck, saving is a simple goal people are resetting for themselves. But finding a savings account these days is not as easy as just stopping by your community bank. There are online resources often offering higher interest rates than traditional banks so it pays to really look around and compare your options. A savings account also comes in different forms. If you are not utilizing the right type of savings account for your financial goals, you might be missing the boat.

da382 Automate Savings How To Benefit from the Right Savings Accounts

Photo by Alan Cleaver via Flickr

What Types of Accounts Exist for Savings?

There are three typical types of savings account vehicles you can use for your financial goals. Depending on your needs, one or more of the accounts may be an ideal way for you to invest in the future whether you have specific financial goals or just want to build a suitable stash of cash should an emergency strike.

Here are the descriptions of three types of savings resources:

Basic Saving Accounts

Most consumers with a saving account utilize this kind of account for saving money. It is the simplest of the savings tools and can be opened with a low amount of money. Savings accounts can be opened through a brick and mortar bank or through an online account. Generally, most basic savings accounts do not have limitations on how much you can deposit or a minimum on how much money you must keep in the account but many will limit how many withdrawals you can make fee-free during a month. Most savings accounts offer low interest earnings compared with other savings vehicles but there is growing competition between banks and online banks to offer the most competitive interest rates.

Certificate of Deposit

A certificate of deposit, more commonly known as a CD, is a type of savings account that has more rules than a traditional savings account. You deposit your money into a CD and are required to leave it untouched for a specified amount of time before you have access to the funds, a time period known as its maturity date. If funds are withdrawn before the maturity date, a penalty will be incurred. CDs ...

]]> http://www.walkwithmoney.com/how-to-benefit-from-the-right-savings-accounts/feed/ 1 How To Find More Money for Your Retirement Account http://www.walkwithmoney.com/how-to-find-more-money-for-your-retirement-account/ http://www.walkwithmoney.com/how-to-find-more-money-for-your-retirement-account/#comments Wed, 18 Aug 2010 04:20:03 +0000 Robert Wilkinson http://www.walkwithmoney.com/how-to-find-more-money-for-your-retirement-account/ Read the whole article...]]> One of my financial goals for this year was to increase the amount of money I put into my retirement account. Some day I would like to max out as many retirement accounts as possible, but for now I’m just happy to increase my regular contributions. In this economic climate, many are seeing that it is important to set aside more in a retirement account or some other savings vehicle. However, finding extra money to set aside for retirement can be challenging.

ca188 Nest Eggs How To Find More Money for Your Retirement Account

Photo by Rob and Stephanie Levy via Flickr

Here are some ways that you can “find” more money for your retirement account:

Evaluate Your Spending

The first thing to do is to consider what you are spending money on. Some experts estimate that the average household wastes between 10% and 15% of its income each month. This means that if you make $4,000 a month, there is a good chance that you are wasting at least $400 of it!

Go through your expenses and see where you are spending your money. Personal finance software and web applications can help you with pinpointing the types of things you are spending money on. If you have not been keeping track of your spending, now is a good time to start. Track your spending and see where you can cut back. You do not have to give up all your simple pleasures, but you can probably cut out some of the less important expenditures — and add the money you save to your retirement account.

Earn More Money

Cutting your expenses is fine, but sometimes you really cannot cut more from your spending. Or perhaps you want to find a way to set aside even more for the future. In this case, you might consider looking for ways to earn more money. While a part time job for you or your life partner is certainly a possibility, technology offers other solutions. The Internet provides ways for you to earn money in a variety of ways, from building a web site to turning a crafting hobby into a side ...

]]> http://www.walkwithmoney.com/how-to-find-more-money-for-your-retirement-account/feed/ 1 BB&T Customer Service Nightmare and How to Avoid Overdraft Fees http://www.walkwithmoney.com/bbt-customer-service-nightmare-and-how-to-avoid-overdraft-fees/ http://www.walkwithmoney.com/bbt-customer-service-nightmare-and-how-to-avoid-overdraft-fees/#comments Wed, 21 Jul 2010 02:20:02 +0000 Robert Wilkinson http://www.walkwithmoney.com/bbt-customer-service-nightmare-and-how-to-avoid-overdraft-fees/ Read the whole article...]]> I had a really bad banking experience last week – actually, it took place over 7 days and is still not quite over. I was going to blog about it and rat out the bank, but then some halfway decent customer service changed my mind. When I logged into my account today and saw YET ANOTHER FEE, I changed it back – so here goes the saga.

cac71 Bad Customer Service BB&T Customer Service Nightmare and How to Avoid Overdraft Fees

Photo by Worak via Flickr

Background

I have held an account at BB&T for over three years. It’s a regional bank that was the only brick-and-mortar near my first apartment. Since opening, I’ve moved twice and had the opportunity to switch to national banks with more branches and more readily-available ATMs. However, I have remained a loyal customer to BB&T, direct depositing my paychecks and running all checks and bill payments through that account – since my rent alone is $1500 a month, this is not an insignificant amount of money!

I maintain both a checking and savings account with BB&T, keeping at least $800-900 across the two accounts at any given time and more when I am going to pay bills. However, in the interest (haha) of earning a little more interest, I keep most of my cash in an online account with a better rate. I periodically make transfers to pay my bills, including my rent.

The Situation

I was going away for the 4th and wrote my July rent check on June 30. Knowing that I did not have enough cash in my checking account to cover it, I transferred $1075 from my online savings account to my BB&T checking. I then left out of town until the 5th.

Late on the 5th (Monday), I logged into my checking account and saw TWO overdraft fees ($70 total). Turns out the transfer went the wrong way — OUT of my checking instead of INTO my checking. I’m still not sure whether this was my fault or the bank’s, but we’ll go ahead and call it mine — I scheduled the transaction in a hurry, anxious to get to the beach!

As it happens, that very week I had made the decision to stop using my credit card for everything (earning points and paying it off monthly of course) and switch to using my debit card in an effort to curb spending. I had some pending debit card items from July 1st that reduced my “available balance” to right around $1,050 — so when the $1,075 transfer came out, it caused an overdraft. An auto-payment went through after, causing another overdraft. I called to confirm that pending transactions mattered when assessing overdraft fees. I then transferred $300 into my account from my BB&T savings — more than enough to bring the account back to positive AND cover the 3 remaining pending transactions. I also transferred $2,000 from my online savings account to checking — $1,000 to make up for the accidental withdrawal and $1,000 to cover the original deposit I was TRYING to make to cover my rent check. I made it very clear to the customer service rep that I did not want to receive MORE overdrafts for those pending transactions. She didn’t really understand my point that since they caused the original overdrafts by locking up funds that WERE available, they shouldn’t ALSO cause their own overdrafts.

Every other time I have ever transferred funds from savings to checking within the same bank, they credit immediately. Guess what — this time, they didn’t. And so the three pending transactions went through and caused an additional $105 in overdrafts. When I called to complain, noting that I had a $300 pending deposit, I was told pending transactions don’t count — OH WAIT, but when the pending transactions were debits they sure did! I asked politely if any of the charges could be reversed and was told no. I then said “I need to either talk to someone who can fix this, or talk to someone who can close my account.” The customer ...

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]]> http://www.walkwithmoney.com/bbt-customer-service-nightmare-and-how-to-avoid-overdraft-fees/feed/ 0 Making the Most of a Windfall http://www.walkwithmoney.com/making-the-most-of-a-windfall/ http://www.walkwithmoney.com/making-the-most-of-a-windfall/#comments Thu, 04 Feb 2010 07:20:07 +0000 Robert Wilkinson http://www.walkwithmoney.com/making-the-most-of-a-windfall/ Read the whole article...]]>

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You have heard the story of the lottery winner who burns through his millions like Monopoly cash and ends up in a trailer park. And if you haven’t, here’s a roundup of eight this kind of cautionary tales.

It’s an appealing story. You and I are never going to win the lottery, so we can inform ourselves, hey, I’d never be that a lot of a dumbass. Indeed, I deserve a big pat on the back—except, wait, I’ve produced the same mistake on a smaller scale. Repeatedly.

Big hunks

When a expert financial adviser says “windfall,” they are usually speaking about an amount of cash that would kill you if it fell on you. I know this simply because I lately spoke to a bunch of financial advisers. The phrase “million” was utilized numerous times, as was “wealth management.” How do you know if you require wealth management? If you can study this without placing on your monocle, you do not require it.

Then once more, a lot of us will have an real windfall. Perhaps not a million, but say 5 figures plus. It occurs most frequently when individuals inherit cash, get divorced, or promote a business. And to listen to the planners speak, a person coming into cash is kind of like a nation striking oil. Amazing! How could this probably go wrong? Then a few months later you’re at war with Iran/your greedy brother.

So windfalls are an important subject, and it is good to think about the big occasion prior to it occurs, but it is probably not the first factor on your mind in 2010. Following speaking with these financial planners, nevertheless, I recognized that there isn’t a lot distinction in between big windfalls ...

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]]> http://www.walkwithmoney.com/making-the-most-of-a-windfall/feed/ 1 How Local Economies Benefit From Big Sporting Events http://www.walkwithmoney.com/how-local-economies-benefit-from-big-sporting-events/ http://www.walkwithmoney.com/how-local-economies-benefit-from-big-sporting-events/#comments Wed, 03 Feb 2010 05:20:08 +0000 Robert Wilkinson http://www.walkwithmoney.com/how-local-economies-benefit-from-big-sporting-events/ Read the whole article...]]>

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(DaveyNin)

Local economies are historically the biggest victims of recessions. When the market takes a turn for the worst, it is local shopkeepers, restaurant owners, hotels and other merchants who feel the squeeze most personally. Accordingly, most cities are eager for any economic stimulus they can get. Over the years, one of the great economic boons to any major town or city has been major sporting events. No matter how bad the economy has been, there is nothing like a World Series, Super Bowl, or World Cup game to infuse some much-needed vitality into local markets. Many fans believe the locations of these events are an afterthought, but economically speaking, nothing could be further from the truth. During the 2009 World Series, for instance, ABC estimated that the event was “…expected to funnel some $25 million into the local economy” of Philadelphia, including “…$3 million or more directly to the city in taxes.” Given the amount of money at stake, and especially the current economic climate, a deeper examination of how local economies benefit from major sporting events seems timely.

Hotel Reservations

Among the most obvious ways a city benefits from hosting a premier sporting event is a surge in hotel reservations. Naturally, the many fans, onlookers, journalists, and friends and family of the athletes need places to stay for the duration of the event. This is true even for events like the Super Bowl, which only last one day but are purposely held in tourist-friendly areas to encourage extended stays. (This year’s Super Bowl XLIV, for example, is slated to be played in sunny Miami, Florida.) Indeed, a spike in hotel reservations is a driving force behind the intense competition that occurs between cities to host the Super Bowl. A January 2009 article from Bradenton.com predicted the economic impact of last year’s Super Bowl between the Pittsburgh Steelers and Arizona Cardinals by interviewing hotel owners in Tampa. Patti Davis, owner of Harrington House Bed & Breakfast on Anna Maria Island, confirmed that, “…it does add quite a bit to our business.” USA Today likewise predicts that fans will fill, “…an estimated 110,000 hotel rooms during the 10-day buildup” to Super Bowl XLIV, in addition to the NFL having reserved, “…the entire 433-room Westin Beach Resort in Fort Lauderdale” as its base during the event.

286b9 1083021399 149962299e How Local Economies Benefit From Big Sporting Events

(Alan Light)

Hotels can benefit even more during events like the World Series, which encompass several games in a given city. Joe Broderick, a doorman for forty years at Center City’s 10,400 room Latham Hotel, spoke excitedly last fall about the, “…uptick in business only the sport’s biggest spectacle can create.” The NHL’s Stanley Cup Finals are another boon for nearby hotels, given the potential for a full seven game series. <a rel="nofollow" href="http://pittsburgh.bizjournals.com/pittsburgh/stories/2009/06/01/daily31.html" ...

]]> http://www.walkwithmoney.com/how-local-economies-benefit-from-big-sporting-events/feed/ 1 Flexible Spending Account and Eligible Expenses http://www.walkwithmoney.com/flexible-spending-account-and-eligible-expenses/ http://www.walkwithmoney.com/flexible-spending-account-and-eligible-expenses/#comments Tue, 22 Dec 2009 23:20:08 +0000 Robert Wilkinson http://www.walkwithmoney.com/flexible-spending-account-and-eligible-expenses/ Read the whole article...]]> The year’s end is quickly approaching, and with it rests the spending deadline of flexible spending accounts (FSAs). What is an FSA? A flexible spending account is an account that employees can use to cover out-of-pocket medical expenses completely tax-free. FSAs are built as employees make equal, recurring contributions from their paychecks to the account.

Why Have an FSA?

The advantage of having an FSA is that it is tax-free, budgeted money for medical expenses — a huge benefit if you anticipate significant medical care such as the birth of a baby, surgery, or any other expected out-of-pocket costs. Even without major expenses, it can still save you a good amount of money.

How does it works? You determine the total amount available in your FSA; this amount is then divided by your number of paychecks for the year. The resulting figure is withheld from each paycheck, pre-taxes.

So How Much Can I Save With FSA? Quite a bit actually. Here is a FSA Saving Calculator to help you figure out exactly how much you’ll be able to save.

How to Get Started with FSA

You can start your FSA by enrolling during your company’s open enrollment period. This almost always corresponds with when you can enroll for other benefits, such as your company’s 401(k) or health insurance plan.

Note: unfortunately, if you’re self-employed, FSA is not available to you.

Using Your FSA

As soon as you have an active FSA account, you can use the entire year’s balance as soon as you would like. If you use your entire FSA and for any reason leave your employment before the end of the year, you are no longer responsible for the remaining FSA paycheck deductions — your former employer will pay the balance.

But, and this is important, if you do not use the full amount of your FSA by the end of the year but you make your full payments, your employer receives the unused balance. In this way, FSAs benefit both the employees — by giving employees tax-free money that can be used immediately; and the employers — by giving employers remaining employee FSA balances at the end of the year.

The deadline for most FSAs — December 31 — is quickly approaching. Use your FSA before then or forfeit your balance to your employer. You could use your FSA to pay for:

  1. Birth Control — Includes condoms, birth control pills, and other forms of contraceptives.
  2. Contacts or Prescription Eyeglasses
  3. Dentistry ...
    ]]> http://www.walkwithmoney.com/flexible-spending-account-and-eligible-expenses/feed/ 1 The First Step to Finding Your Dream Job http://www.walkwithmoney.com/the-first-step-to-finding-your-dream-job/ http://www.walkwithmoney.com/the-first-step-to-finding-your-dream-job/#comments Thu, 24 Sep 2009 00:20:02 +0000 Robert Wilkinson http://www.walkwithmoney.com/the-first-step-to-finding-your-dream-job/ >>>Xin Lu]]> By >>>>Xin Lu<<<<

    e222b newgolddream The First Step to Finding Your Dream Job

    In the current financial plan, numerous of us are pleased just to be oyed, at ex exact same time extremely couple of of of us are operating at the elusive "dream job." For numerous individus theijobsimply offer a paycheck and not a fantastic deal a a great more. So how do you discover the occupation that can make you really pleased? I believe the initial ction to finding your dream job is to define what it is.

    Define the final products of your dream job.

    Not everyone understands what exactly their dream jobs are, but most individuals know what they want their carry out to produce. I have known software program engineers who needed to assist reduced earnings kids, and other individuals who needed to make video clip clip video games. Individuals do not usually have concrete job titles in ideas, and that is okay. As lengthy as you can define what locations of the globe you want to affect then you are off to a fantastic begin. What actually the carry out produces ought to offer you some type of fulfillment.

    List your skills and passions that utilize to the dream job.

    As soon as you know what you want to produce through your labor, you ought to be in a location to make a checklist of your skills and passions that could utilize to the job. This will assist you narrow down what you could do to accomplish the finish results of the dream job and give you some ideas about how to marketplace your self to a feasible employer. This bodily bodily exercise could also assist you define the dream job in a a a great more specific way.

    Estimate an acceptable compensation.

    Sople dream of jobs that make investments oodles of dough, ndother would do the carry out they adore for completely totally free. This is completely private, but it is helpful to be reasonable in what quantity of cash you are ready to accept in exchange for a a great more job satisfaction. If you do not define this requirements up front then it is feasible that you may be resentful later on on.

    Envision your perfect carry ot ambiance.

    Do you want to carry out outside a a great more? Do you want to journey? Would you like a a great more versatile hrs? Create down a checklist of issues that explain what ...

    ]]>     http://www.walkwithmoney.com/the-first-step-to-finding-your-dream-job/feed/ 1     What’s the Best Way to Start Saving? Make It Automatic. http://www.walkwithmoney.com/what%e2%80%99s-the-best-way-to-start-saving-make-it-automatic/ http://www.walkwithmoney.com/what%e2%80%99s-the-best-way-to-start-saving-make-it-automatic/#comments Thu, 30 Jul 2009 03:55:28 +0000 Robert Wilkinson http://www.walkwithmoney.com/what%e2%80%99s-the-best-way-to-start-saving-make-it-automatic >>>>>the power of littleI Will Educate You to Be Rich>>>>>>>>>>>>]]> There‣s no query that these are trying occasions. With automobile payments, house payments, credit score score score monetary financial debt, and the price of every and each and day existence, saving for the lengthy phrase can truly really feel like an unattainable task, but by harnessing >>>>>>the power of little<<<<<<, every af can hie atveweet our minds to, one kid action at a time. And, as we‣ve discovered, one of the very best methods to get began on saving is to make it automated.

    As private finance blogger and writer of >>>>>>I Will Educate You to Be Rich<<<<<<, Ramit Sethi as quickly as stated, “Private finance utillpowerf8#22 S the ideal way to offer with your finances is to set them up to produce effortlessly.

    In other words, try putting your financial savings on autopilot. Fairly of consciously trying to location aside a fixed quantity of money into your financial savings and retirement accounts, make it automated. When you calculate your month-to-month spending budget, act as although the quantity of money that you will instantly deposit into these accounts is not a component of your earnings. Start with a little sum at initial and week-by-week, progressively enhance the quantity you conserve by just $twenty. With out even noticing it, you will alter to your new earnings diploma and smile every and each and time you verify your truly-creating financial savings accounts.

    THE Energy OF Small philosophy is all about taking on the challenging issues ...

    >>>>>><<<<<<

    >>>>>><<<<<<>hk ]]> http://www.walkwithmoney.com/what%e2%80%99s-the-best-way-to-start-saving-make-it-automatic/feed/ 1