FDIC Deposit Insurance: What it Covers, Doesn’t Cover and its Biggest Myths

FDIC Deposit Insurance: What it Covers, Doesn’t Cover and its Biggest Myths

Although rare, banks can go bankrupt. However, your money can be protected if the bank you deposited money with is federally insured by the Federal Deposit Insurance Corporation or FDIC. Since it’s so important that your deposits are FDIC-insured (the equivalent for credit unions is NCUA, or the National Credit Union Administration, which also operates…

Filing an Auto Insurance Claim Might Not Be the Best Idea

Filing an Auto Insurance Claim Might Not Be the Best Idea

Your car insurance provider frequently tells you to report even the most minor car accident.  Contrary to these instructions, sometimes it’s best not to file an insurance claim. A few years ago, I was in a minor fender bender with another car.  I admit it: the accident was definitely my fault.  But the damage was…

How Much Should You Have Saved Based on Your Age and Income?

How Much Should You Have Saved Based on Your Age and Income?

“How much should I have saved by retirement?” It’s a question we get asked all the time, and it is definitely a valid one. Of course, it’s also a very difficult question to answer. The truth is that everybody’s retirement number is different. The amount of money that you need to retire is based on…

How a Debt Snowball Can Reduce and Then Eliminate Your Debt

How a Debt Snowball Can Reduce and Then Eliminate Your Debt

Welcome to our series on crushing your credit card debt. In this third of five articles, we look at how to supercharge your get out of debt program with the Debt Snowball. We’ll cut right to the chase: using the debt snowball method can save you thousands of dollars in interest payments. On top of that,…