Insight News

Monday
Nov 24th

Business

A Good (God) Thing: Is there a place for spirituality at work?

Congratulations goes out to my friend Tryg, who was just hired after several months looking for work.  He writes, “The house is done, I'm starting a new job, and the taxes are in the mail. The job gives me a boost of confidence and energy after five months on the sidelines. It turned out to be a good (God?) thing as I look back…”
Read more...
 

Annual award recognizes high-achieving women of color from diverse career paths

Annual award recognizes high-achieving women of color from diverse career paths(New York, NY) February 4, 2010— Five African American women trailblazers will be honored by BLACK ENTERPRISE during the Women of Power Legacy Awards hosted by PepsiCo on Wednesday, February 10. The awards ceremony will kick off the fifth annual Women of Power Summit hosted by State Farm®, a four-day leadership conference designed especially for women of color. The Summit runs through February 13 at the La Quinta Resort and Club in La Quinta, California.
Read more...

Racial disparities in minority lending cited by CRL but denied by Advance America

Before a packed audience of publishers, representatives of the payday lending industry and the Center for Responsible Lending (CRL) debated whether this small dollar loan was helpful credit or a debt trap. The engaging January 22 debate, part of the recent National Newspapers Publishers’ Mid-Winter Conference held in Charlotte, NC drew candid comments from presenters and publishers alike.
Read more...

Offers can take time: Bring patience, humor and an updated reference list

This time, it’s all about me.  If you are looking for work, let me tell you, I feel your pain.  In keeping with the new frugality of our times, I had the brilliant idea that I would find a part time job within a gym and, for the cost of a few hours of my time, enjoy the free membership afforded employees at many fitness centers.  I started this process in November.  January is now behind us and I am beginning to pack on the pounds. 
Read more...

Payday lending debate heats up: Racial disparities in minority lending cited by CRL but denied by Advance America

Before a packed audience of publishers, representatives of the payday lending industry and the Center for Responsible Lending debated whether this small dollar loan was helpful credit or a debt trap. The engaging January 22 debate, part of the recent National Newspapers Publishers’ Mid-Winter Conference held in Charlotte, North Carolina drew candid comments from presenters and publishers alike.
Read more...

Earning higher interest – with a checking account

People stash their money in safe havens such as savings accounts, Treasury Bills and Certificates of Deposit for a variety of reasons. It could be fear of losing money in the stock market, the security of knowing their deposits are government-insured or, with bank accounts at least, being able to quickly withdraw funds when needs arise.

In return for that convenience and security, however, interest earned usually doesn’t keep pace with inflation.

When the economy was cooking a few years ago, 5 percent interest rates and higher on long-term CDs were not uncommon. But when the recession hit and the inflation rate began dropping, so did interest rates. These days, traditional savings accounts commonly earn just a fraction of 1 percent interest, while many CDs and T-Bills aren’t much better.

So how can you earn more interest on insured savings these days? Would you believe a checking account?

Although checking accounts usually earn little or no interest, in the past few years a product called high-yield reward checking has gained in popularity. These accounts often pay much higher interest rates than regular checking or savings accounts – or even long-term CDs in the current market.
In addition to paying higher interest, financial institutions offering these accounts typically will refund each month a certain amount in transaction fees charged by other banks for using their ATMs. For smaller institutions, this helps make up for not having their own extensive ATM network.

However, high-yield checking accounts usually come with restrictions that may include:

•    A minimum number (usually 10-15) of monthly debit card purchases.
•    Direct deposit (like a paycheck) and/or automatic debit transactions (e.g., monthly gym membership dues).
•    Issuing electronic statements only.
•    There may be a cap on account balances eligible for the high yield (commonly $25,000 or less); over that cap, the rest may earn a much lower rate. (There usually is no minimum account balance required, as there often is with regular savings accounts.)
•    Accounts may be limited to local customers only, although many are available nationally.

If you don’t meet all requirements during a particular month, the interest rate paid for that month could drop substantially, but typically will bounces back once you again meet all conditions.

Keep in mind a few other factors when considering a high-yield checking account:

•    Interest rates are variable, so watch for notification of changes.
•    Compare any fees side by side with those charged on your current account.
•    Vigilantly track your balance to ensure it covers all debit card transactions; otherwise, overdraft charges could erase any interest earnings.
•    Make sure the bank is a member of the Federal Deposit Insurance Corporation so that up to $250,000 per depositor, per institution will be insured. Search “Bank Find” at www.fdic.gov.
•    Similar coverage is provided to credit unions by the National Credit Union Administration. Search “Find a Credit Union” under the “Data and Services” tab at www.ncua.gov.

Numerous websites track banks and credit unions offering high-yield accounts including www.highyieldcheckingdeals.com, www.checkingfinder.com and www.bankingmyway.com.
You won’t get rich from the interest earned on these accounts, but in this economy every extra dollar helps.

Jason Alderman directs Visa's financial education programs. Sign up for his free monthly e-Newsletter at www.practicalmoneyskills.com/newsletter.

Crime is only one career option: Apply your skills with a better end in mind

Murder.  Now, there’s a career.  One good day on the job and you can look forward to a quick promotion to prison; leave your family, friends and freedom behind.  Sounds stupid, doesn’t it?  But are criminals’ minds really less brilliant than anyone else’s?
Read more...
Page 91 of 115

Recent Comments

Powered by Disqus



Facebook Twitter RSS Image Map

Latest show

  • November 18, 2014
    Remembering Ackeesa Ta Harms-McFarlane. Scott McLain on Vivian Carter and Vee-Jay records.

Business & Community Service Network