Archive for the Personal Finance Category

Dollar Bins

You know, this might sound stupid, but have you ever looked at those bins or shelves near the entrance to the stores?

 You probably should…, especially with the winter holidays coming up soon.

I go to these bins, especially at TARGET and stores like it.  I have a big family, and we get gifts for EVERYBODY.  I don’t know everyone well enough to pop for something really expensive, and, to be honest, some of the stuff on these shelves is really cool.  Also, there are a few little kids out there who are more interesed in the wrapping paper than the presents.  Trust me, they don’t mind.

Add to this list, all of the school people, all of the work people, and all of the –people–, stuff gets expensive.

Let’s be honest:  You aren’t going to find that special something that you are willing to walk through a blizzard to find, but you will find some cool stuff, and if nothing more, a lot of decent stocking stuffers.

JM Webzine

Young people never stop amazing me!  That’s why I got into this in the first place.  Jon over at JM Webzine is doing a pretty cool little project over there.  In addition to being a promoter for bands, he’s decided to put together a webzine that covers music and other teen issues.  This is a very smart approach to doing something he likes to do, and getting money for it.  Oh yeah!  Jon–16 years old.  Makes a lot of people twice his age look really lazy.  I predict we’ll be hearing a lot about JM Webzine for some time to come.  Good Job Jon!

As Seen on Finance For Youth: The Blog

I’m running a contest to design the cover of “Finance For Youth:  The Book” and “Finance For Youth:  The Workbook”.  Check out the info www.finance4youth.wordpress.com

Thanks

-W

Wells Bells!

As seen on Finance For Youth:  The Blog 

 

As promised, I’ve reviewed Wells Fargo in the same manner that I reviewed Bank of America.

Wells Fargo is a little different because it touts itself highly as being an online bank.

 

Criteria 

Results  

Bank Name  

 

Wells Fargo

Program Name  

College Checking  

Monthly Fees  

 

$3.75

Ways to avoid Fees  

Online Statements

$2.00 deduction with Direct Deposit   

Other Fees  

See website for details, none for program  

Online Access  

Free  

Online Bill Pay  

For balances less than $5000.00, 6.95 per month up to 25 bills  

Additional Website comments  

N/A  

Overall Grade  

 

C-

 

Wow!  For an online bank, they charge for Bill Pay, which is unheard of today.  I also really didn’t like the idea that they only discount your fee if you have direct deposit.  A bank that large would do well (get it? WELL), to waive a monthly fee like every other institution in the free world.

 

The Truth about Bank of America

From my original blog, Finance For Youth:  The Blog

www.finance4youth.wordpress.com

Let me start out by saying I really, really wanted to hate Bank of America.  I have worked in finance (banking) for a very long time, and everybody knows they just suck!  I knew I was going to be giving BofA a bad grade when it came to youth accounts.  Here’s what I came up with.

When rating financial institutions for their benefit for youth, I looked specifically at the products they offer on their websites dedicated to students and youth.  I looked at seven criteria, and compared with other institutions.  Since I don’t bank with them, I did not rate them on customer service or satisfaction, two areas that are very important to me.

Criteria 

Results 

Bank Name 

Bank of America 

Program Name 

Campus Edge 

Monthly Fees 

Free (5 years as student) then $5.95 monthly. 

Ways to avoid Fees 

Direct Deposit or Online Bill Pay 

Other Fees 

See website for details, none for program 

Online Access 

Free 

Online Bill Pay 

Free 

Additional Website comments 

N/A 

Overall Grade 

B+ 

 

Comments:  I like especially that the account is free while you are a student.  This is of paramount importance to my readers.  Offering to waive monthly fees for Direct Deposit or Online Bill Pay, as well as offering a free online Bill Pay program really helped.  They seem to offer programs with features that make sense for today’s youth.  As much as I wanted to hate them, they Came out pretty good here.

 

Great job, Bof A!

 

Coming up, Wells Fargo.  Did they do as well?

Software for Students

I got this post from LifeHacker.  This is a great feature for those of you who want a computer to be able to do any work, but don’t want to, or can’t afford to deal with Windows or Mac OS.  I plan getting this (and I will trade them for a pretty good donation!) and check out the software on an old laptop I just acquired.  These guys are on our side here, and I’m really stoked to check out the product.

 

http://lifehacker.com/software/students/download-of-the-day-software-for-starving-students-winmac-225341.php

 

to see the post on LifeHacker

http://softwarefor.org/downloads.html to get directly to the site. 

Once again, if you can afford to, please donate to these people if you get their product.  I remember being a student, and this would have been awesome if it existed then.

 

Until next time, I’ll keep looking!

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Welcome

If you have seen my other sites www.finance4youth.wordpress.com

www.myspace.com/finance4youth

www.finance4youth.com

you will see that they all have similar (if not exactly the same) information.  Finance For Youth: Keeping an eye out for you is a little different.  This blog will be mostly links to other blogs that will have information or products of use to teenagers or young adults.  There is a lot of information out there, some of it is pretty good, some of it is total crap, and some of it is GOLD for young people.  I’m striving for the GOLD, but don’t get to upset if I only hit pretty good.

If you have tips other than those I encourage you to email me and let me know

wil@finance4youth.com

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