Most of my other posts have been about what products we can get for little or no money. Which dont get me wrong I love doing. Now I would like to talk about how we as consumers should spend and save our money responsibly and honorably, and part of that involves how we bank and how we save.
Whoa..take a deep breath. Here we go. The constant question is Bank or Credit Union. Debit Cards or Credit Cards. I do not think I can tell you which is best for you, a lot of thought, debating and education goes behind making this decision. Here is what I do know. Many larger banks are now charging to have accounts-even for the simple stuff like having teller's perform transactions, having a certain number of transactions per month, and using the bill payer service. Credit Unions however, often have no charges on the accounts the offer. Having accounts at both places I can tell you that my experience has always been better at Credit Unions. They are non-profit financial institutions. I have never been "sold" something and they do not make commission of the loan the give me. When I walking in the door I don't feel like they see dollar signs.
I am not going to go into the details of which place is better because honestly each has pros and cons. Do you homework and we can all save more money! This makes me want to spark a challenge. I know it is already March, but lets make a goal to save 5,000 this year. What are creative ways we can save money, cut back and live frugal fulfilling lives? Lets do it together!
Here is a link to get you started in your education, its a bit biased but what article isnt?
http://articles.moneycentral.msn.com/Banking/BetterBanking/DitchYourBankForACreditUnion.aspx
Happy Savings!
Fifi
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