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Money Market Account VS Savings Account – What’s the Difference?

There are many different savings vehicles to choose from, but two of the most common are money market accounts and savings accounts.

There are similarities between the two—both pay interest, have fixed balances, and are pretty easy to deposit money into or withdraw it out.  Either account type could accomplish your savings goals.

But there are significant differences between them, and those differences could help you decide when one is more appropriate as a savings vehicle than the other.

Money Market Accounts VS Savings Accounts

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The History of College Student Loans

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Every other week, it seems, we hear dire warnings about how much debt our college students are burdened with when they graduate.

Indeed, more than ½ of college students take out student loans, and the average student loan tab for a graduating senior is just over $25,000.  Coupled with a rough economy and a general lack of financial knowledge, recent college graduates are struggling financially like never before.

Yet, it hasn’t always been this way.

Many of us just grew up knowing that student loans have, and will be, available, but that hasn’t always been the case.

A Brief History of College Student Loans

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ShareBuilder $50 New Account Bonus Code

You know I love ING Direct products.

I have both the Orange savings account for online savings and their Electric Orange checking account.  What I also have is a brokerage account with ShareBuilder (owned by ING Direct).  This is where I buy stocks outside of my IRA accounts.

ShareBuilder is offering a promotion where new customers get a $50 bonus code for opening a new ShareBuilder account. 

The offer is in effect until 9/30/12.  In order to receive the bonus you need to fund your account with $2,000.  And most important – make sure to enter the code 50LSQ3 when you sign up to make sure your account gets credited with the $50 bonus!

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The Myth of Get Rich Quick

There are some myths that never die no matter how many times they’re disproved and no matter how many people get burned chasing them down.

Get rich quick is one of those myths.

In our minds, we know get rich quick isn’t legitimate, and we’ve been told as much again and again by parents, teachers, friends and coworkers.

Then why does it seem that there’s some part of us that might believe that get rich quick is possible?

Because sometimes rich looks like get rich quick—to us

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6 Steps to Take in a Financial Emergency

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Every now and then, financial catastrophe strikes.

You never know when you will run into a financial emergency.  Sometimes, things are simply out of your control.

When a financial emergency arrives, though, it’s important to take control as quickly as possible.

While you can’t control what happens in terms of an unexpected financial setback, you can control your reaction to it.  When you find yourself dealing with a financial emergency, here are 6 steps you can take to get back on track as soon as possible:

1. Take a Deep Breath, and Evaluate the Situation

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How Much Is Your Total Compensation?

In the recovering American economy some people are just glad to have any job.

But in certain sectors of the economy — information technology being one of them — unemployment is incredibly low.  That leads to many candidates receiving multiple competing offers that must be compared to each other.

Whether you are looking for your first job offer, trying to leave your current job, or need to compare multiple offers, there are some points about compensation you must be aware of before making a decision.

Your Salary is Only Part of Your Compensation

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Have a Student Going Off to College? Teach Your Child about Student Loan Debt

If you have a soon to be graduating high school senior, she has hopefully been accepted to several schools and is in the processes of deciding which to accept.

Your high school students should be blissfully debt free right now, but as soon as she decides what school to attend, that may all change.

Far too many students decide what college to attend because they like the campus or the atmosphere or because they want to move far from home.

Ideally, before she even begins to apply to colleges, you, as the parent, should sit down with her and discuss finances.  This conversation should occur no later than before your child makes a decision as to what college to attend.

Most parents would like to pay for their child’s entire college education, but that is often not possible due to the current economy and rising tuition costs.

Chances are, if your child attends an expensive university or private college, she will have to take out student loans, sometimes tens of thousands of dollars worth of student loans.  The cold reality is that she may be paying these loans for the next 10 to 20 years, and she may have to delay important life events such as getting married, having a child and buying a home all because of her student loan debt level.

Ignorance Is Not Bliss

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