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Bank Switch Kit and Checklist

by Flexo
Broken piggy bank

With Wells Fargo changing their policies to be less consumer-oriented this week, I’ve received several questions about the logistics switching banks. In previous decades, closing your account at one bank and opening an account at another was a simple process. All that was required was to walk into one branch, ask to close your account, ... Continue reading this article…

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5 Reasons to Beware 401(k) Retirement Plans

by Flexo
Cubicle

Financial planners just love promoting 401(k) retirement plans. They have quite a few benefits, notably a tax deduction for contributions as well as a tax deferral for contributions and earnings. They’re also one of the most popular vehicles for introducing the working middle class to the stock market, something that might not have been accessible ... Continue reading this article…

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Personal Balance Sheet, October 2011 ($373,552, +9.2%)

by Flexo
Net Worth Balance Sheet, October 2011

I’ve been tracking my net worth and keeping my finances updated in personal finance management software since July 2003. I’ve done this mainly for myself. Posting my finances online helps make the numbers real. I use these monthly reports to hold myself accountable. If I write publicly about spending more in a budget category than ... Continue reading this article…

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How to Close Your Bank of America Savings or Checking Account

by Flexo
Bank of America

If you’re upset about Bank of America charging a monthly debit card fee or any other fee, if the bank has a policy you don’t like, or if you just have no need for this company’s particular set of services, consider closing your Bank of America account. There’s an initiative called Bank Transfer Day encouraging ... Continue reading this article…

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When People Get Rich Quickly: Lessons from Michael Vick’s Bankruptcy

by Flexo

A typical professional athlete may be a prime example of the situation in which an individual might find himself suddenly wealthy. The idea that a person could consider himself middle class or lower one day and wealthy the next is a recipe for financial disaster. It’s easy to look at athletes because their trials and ... Continue reading this article…

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Financial Tips for Students Entering College

by Flexo

Seventeen years ago I was nervous about what was about to transpire. At this time, although I had been away from home for extended periods of time, I was about to leave for college. Honestly, I thought I might not have been able to handle the responsibilities and the new social environment. Rather than living ... Continue reading this article…

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10 Tips for Avoiding Overdraft Fees

by Flexo
Nickel and Dime

Bank of America is settling the overdraft fee class-action lawsuit that alleges the bank knowingly manipulated customers’ deposits and withdrawals in order to maximize the fees they would receive. Although the banks aren’t completely to blame for the proliferation of overdraft fees, policies were so much of a problem that the government and regulators needed ... Continue reading this article…

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Should You Stop Saving and Investing When Paying Off Debt?

by Flexo

The concept of multitasking, for a person, is a myth. When someone says they are multitasking, they are quick task shifting. We can move our attention quickly from one task to the next, and shift back again, but it’s practically impossible to focus on two different things at the same time. To excel at anything ... Continue reading this article…

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