Saving You Money: Checking Accounts
Updated: Thursday, April 24 2014, 11:45 PM CDT
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Saving You Money: Checking Accounts & Wedding Costs
I'm tackling a couple of timely topics: weddings and finances.
We'll get to 'how to cut costs if you're a wedding guest' in a minute, but first, letting the bank keep more of our money just doesn't add up, especially when we work so hard for it.
Tonight, a new report from Wallethub.com shows a bank is not a one size fits all proposition.
General consumers can save 19% by switching to an online bank rather than a traditional branch account. That's according to Wallet Hub and the interest rate is on average 122% higher at online banks.
College students should take advantage of use student checking accounts... These are 66% cheaper than typical personal accounts and offer 28% more features.
Small business owners, just know business accounts are 46% more expensive and give you a 57% lower interest rates than consumer accounts. Wallet Hub suggest business owners use personal online checking when possible.
Don't forget credit unions are 72% cheaper than the big banks and give you 562 percent higher interest rates. Now to weddings. It's expensive to be a guest. The average guest spends $592 dollars according to American Express.
An early start can help you cut costs. The reasonably priced gifts tend to be the first items snagged on the wedding registry. If you miss out on those, consider sharing the cost of a big ticket item with other guests.
For the best airfare, book your plane ticket as soon as you RSVP. Just because the bride and groom reserve a block of hotel rooms for guests doesn't mean that hotel is giving you the best deal. Call around and do some price checking yourself.
Share your money saving ideas with me on Twitter @StacyCase_ or email me at firstname.lastname@example.org