Since the bank needs to train their employees, provide a paycheck and benefits, pay for the branch building and in some cases supply uniforms, etc., it is conceivable that your one banking transaction per pay period could cost the bank $3 or more.
Like many employees, Rita is wondering if she should take the plunge into small business ownership. Many do. According to the U.S. Census Bureau, there are over 17.6 million businesses with the owner being the only employee. The same report indicates that 20% of the new businesses started in the previous year were for janitorial services.
Competition for loans has forced bankers to offer lower interest rates to borrowers. That’s great for homebuyers. But it also means that banks aren’t making as much on those loans. So they’re using fees to boost their bottom line. For instance, ATM fees raise over $2 billion a year. Public interest groups claim that because of the fees that banks impose there are over 10 million families that can’t afford bank accounts.
Current federal government plans call for law enforcement to assemble databases of all credit card transactions and other personal data. Their goal is to look for patterns that could help them identify terrorists.
It’s always arguable that the future is uncertain, which is often used as an excuse for remaining locked in neutral gear. Fortunately, however, there are some indicators in play that can be used for guidance. Let’s take a look at some of these.
It isn’t easy raising teens in today’s materialistic society. The older they get, the more expensive the things they want or think they need. If they don’t learn how to manage their money at a young age, they won’t be able to make it in the real world.
Money may not be able to buy happiness, but managing it correctly can certainly make married life less stressful. Too many marriages die an early death at the hand of financial mismanagement and others stay together but live in misery. What makes this even more difficult to stomach is that applying the basic principles I’ll discuss in this article can prevent this tremendous strain on marriage relationships.
It’s not hard to find information on how to select a financial advisor. A visit to either of the search engines Google or Yahoo, in which you enter the words “Financial Advisor, Choosing,” provides you with about a quarter million references, many of them highly prestigious. As you browse through the first hundred or so, as I did, you’ll find remarkably consistent advice in abundance. You want an advisor that understands your goals, can recommend securities to fit your needs, that will help you allocate your assets, who possesses the proper credentials, and above all, someone with whom you can place your confidence. I’ll admit that this sounds reasonable. So, with all this well-documented guidance, why do you need my counsel? I’ll tell you why. Because, although the recommendations presented on the sites I visited seemed vaguely incontestable, none go beyond generalities. However, the world of investment is hostile, and on advisor selection you need specifics. Let me fill in the details on five vital concerns that you’ll not find elsewhere.