Credit Cards

Category: Finance, Financial Planning.

Banking/ Credit. You can save more than$ 100 a year in fees by selecting a checking account with a low( or no) minimum balance requirement that you can, meet, and do.

Checking. Request a list of these and other fees( including ATM and debit card fees) that are charged on these accounts. Direct deposit offers the additional advantages of convenience, and immediate access, security to your money. Banking institutions often will drop or lower checking fees if paychecks are directly deposited by your employer. Savings and Investment Products. An increasing number of products offered by these institutions, including mutual stock funds and annuities, are not insured.

Before opening a savings or investment account with a bank or other financial institution, find out whether the account is insured by the federal government( FDIC or NCUA) . To earn the highest return on savings( annual percentage yield) with little or no risk, consider certificates of deposit( CDs) or U. Savings Bonds( Series I or EE) . Once you select a type of savings or investment product, compare rates and fees offered by different institutions. Credit Cards. These rates can vary a lot and, can significantly affect, over time interest earnings. You can save as much as a thousand dollars or more each year in lower credit card interest charges by paying off your entire bill each month or by using a check, cash or debit card for purchases.

You can reduce credit card fees, which may add up to well over$ 100 a year, by getting rid of all but one or two cards, and by avoiding annual, and over, late payment- the- credit limit fees. If you are unable to pay off a large balance, pay as much as you can and switch to a credit card with a low annual percentage rate( APR) . Auto Loans. This could save you as much as several thousand dollars in finance charges. If you have significant savings earning a low interest rate, consider making a large down payment or even paying for the car in cash. You can save as much as hundreds of dollars in finance charges by shopping for the cheapest loan. Contact several banks, and the auto, your credit union manufacturer s own finance company.