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Looking for FDIC Bank with Good Rates
Asked by M.H. from Chicago
on March 20, 2009
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I'm looking to open an account at a FDIC bank with good interest rates and customer service, I want to do a CD account, any suggestions, Thanks
Answers
- If you are in the northern suburbs I would look into State Bank of the Lakes. They are small (yes, FDIC) and it is so nice to walk into your bank and have them not onl...
- Look into a local community credit union. They are FDIC insured but instead of being out to make a profit they are out to make you money since every member has a stake...
- Hi My name is J. and I am a licensed in securities. I can share with you some very safe investment options that would give you a much better rate of return than goin...
Looking for a New Bank
Asked by M. from Chicago
on March 6, 2008
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Hi!
Recently our bank (MidAmerica- who we loved) was bought out by National City (who we don't like). We are currently looking for a new bank but don't want to swi...
Answers
- we love 5th third we love the online site it makes bill paying easy and check balancing easy there is a feature when making a house budget that allowed me to average...
- I've been banking at West Suburban Bank since I was a teenager. They are very friendly and have a community bank feel to them. They also have great rates on CD's, mo...
- I have been banking at west suburban bank for years. There statements are easy to read the personal bankers are great. The tellers remember your name and always say hi...
Separate or Joint Bank Accounts
Asked by E.S. from New York
on April 5, 2012
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Quick survey here: Do you have a separate or joint bank account and why?
DH and I have separate bank accounts. It's just something we've always done, no questions a...
Answers
- I have two joint accounts and one separate account. When hubby was in the military it was easier to have a separate joint account so that bill paying and house expend...
- Not a "control" issue here. When we married in 1989 we went joint and we've been that way since. No secrets, etc. we are a team. Most of those years I was an a...
- Joint AND separate. All are separate, but "linked". Only one checking is truly joint. However.....we have a budget and everyone knows where the money is. As ...
Bank Account for Child with Divorced Parents
Asked by N.W. from Chicago
on December 17, 2008
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My last post lead me to realize that I would like to set up a college savings account for my 7-year old stepdaughter. I believe going to college is VERY IMPORTANT.
...
Answers
- Hi Nicole ,Sorry this might be a little winded. You and your husband's concerns are very valid . As another mom suggested opening a saving account just for minor's the...
- You can set up an account and her mother does not need to know anything about it. in fact you should not put the step daughter name on the account either. Just ear m...
- Nicole, I think this is a very good idea. Most banks have a "minor savings account" that you can put her name on it and yours. I don't even think you have to be ...
What to Do with a Large Sum of Money Given to Kids
Asked by V.M. from Erie
on July 26, 2010
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i guess i need to edit to say "Investing in what is a large amount to ME" My kids both recieved $300 from my grandmother's estate. They have some $50 savings bonds...
Answers
- I think what you do with it depends on what you're trying to do? Are you trying to teach your kids about saving? Investing? Putting aside money for college? I ...
- You could check into some money market accounts. I don't know how much is required to open one, but $500 should be plenty. You can put all $600 in one account, and t...
- I'm surprised no one has mentioned a 529 yet. If it's for your kids, I'd put it into something that has a dedicated purposed like a 529 which is for higher eduction...
Need Help Figuring Out Where to Put 6 Yr. Olds Money
Asked by D.K. from Detroit
on August 13, 2009
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Hi ladies. My son just turned 6 this June. He recently won a settlement of $12,000. The courts say it needs to go into a restricted account until he turns 18. The ...
Answers
- talk to a financial planner. Investment firms. Some could be put in an educational plan, and some into investments or stocks that could grow and complement the educa...
- First of all, check out the Michigan College Fund - they have a matching gift from the state. It has certain requirements and you will have to see if you qualify, but...
- Hi D., My background is in Nutrition and not Finance but I would say put it in a CD in his and your name (call around for the best interest rates-the longer the term ...
Savings for Junior
Asked by A.E. from Minneapolis
on January 12, 2009
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Hello, Supermoms!
My hubby and I have received some cash gifts for various occasions since our boy was born. We've just been tucking them in his "piggy bank" so far...
Answers
- We have our daughter's money in a CD. At our Credit Union it is called a certificate plus because you can add money to it. It has a slightly lower interest rate than...
- We have our kids' money in CD's. Just shop around for the best interest rates, and don't forget to renew them when they mature. They do make money.
- I use the MN college savings plan for my children and my nephews. It's a 529 plan through TIAA Cref. The cool thing is that MN has a matching program for MN resident...
I’m in a Financial Battle with My Husband
Asked by A.E. from Chicago
on November 2, 2008
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Hello Moms,
This is not a normal request you see on this site but I’m hoping there may be some moms out there that can help me realize I’m either wrong or right...
Answers
- If I understand this correctly, you're paying 10.75% interest on this loan, and the bank is giving you 2% on your money. Wouldn't you be saving 8.75% by paying it off?...
- Everyone that has posted a response makes sense. But you have to consider many points. First, if you refi, then think about the fees you will have to pay to do so. ...
- Of course the bank wants you to keep the money in your savings account - if you take it out you're taking it from them and their ability to reinvest in their own schem...
Switching Responsibility?
Asked by C.T. from Phoenix
on December 23, 2011
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IF you have done this, I want to hear from you. IF NOT, then don't bother, move on to another question please. I am not trying to exclude you. But I really want to h...
Answers
- if he is down for it i say give it a try. if he isn't than ask him to sit with you and look through the family budget and help you make some tough decisions. As you...
- Sounds like your hubby is kind of a baby about all this... sorry, I just had to say that! A friend of mine's husband constantly harped on her about how she didn't d...
- My husband does all the finances. I honestly have no idea how much money we have at a given time. I can easily check and look, but I never do. He manages everything. H...
Saving Money for Your Child
Asked by L.J. from Little Rock
on July 18, 2007
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I am wanted to but money in a saving account for my child to recieve when he is 18. I heard about all these diffrent types of saving accounts. Does anyone know which o...
Answers
- L., You are smart to start early. It is estimated that by 2025 when your son is 18, it will cost $140,000 for him to attend state college for 4 years. Our fam...
- L.,hey my name is N. I have one son and his name is Larson and he is 18 months old.I have been doing the savings bonds for him since he was a newborn.It,s good b/c any...
- I would go with the 529 plan. I'm in Louisiana, and we've already earned $360 (on $5,000) since January. Also, I think the money was tax deductible.
