Investing is similar to cooking, no two people go about it in exactly the same way, and great results can be had from very different techniques. The following information about investment strategies can be useful whether you’re interested in learning how to develop your own strategy or if you want to be able to communicate with your financial advisor more effectively.
The numbers don't lie. Online banking continues to grow.
In fact, according to a 2010 survey by the American Bankers Association (ABA), most customers prefer to do their banking online compared to any other method. And why wouldn't they?
And it's not just Generation Y that's jumped on the bandwagon.
"ABA survey results showed that the popularity of online banking was not exclusive to the youngest consumers: it was the preferred banking method for all bank customers under the age of 55. Consumers over 55 still prefer to visit their local branch."
Though the convenience of managing money anytime, anywhere, is a major reason consumers choose online banking, it's not the only one. More and more people are using the tools that online banking offers to gain greater control of all their finances.
These tools allow them to accomplish a number of objectives, including:
Paying bills more efficiently. According to a 2010 survey by Intuit Financial, one of the biggest reasons people choose online banking is for bill paying. With bill pay, you can pay just about anyone with just a few clicks of the mouse. Plus, you can schedule your payments to occur automatically, thereby helping you pay your bills on time, avoid late fees, and preserve your credit rating. Paying bills online will also help you save money on postage and fuel spent driving to the post office.
Monitoring cash flow. Customers who bank online can monitor account activity in their savings and checking accounts, view bank-issued credit cards, and get up-to-the-minute bank rate information anytime, anywhere. In addition, they can set account alerts to let them know if a certain account activity, such as a specific check or bill payment having been processed, has occurred or if their account balance has reached a targeted amount.
Building savings automatically. Now more than ever, it's important to build savings. Online banking lets you set up automatic transfers to savings that make building savings easy. You can arrange to have money automatically transferred from checking to savings - weekly, monthly, or at whatever frequency you choose.
Managing finances. Most online banking services allow you to download account information to financial management software programs. That way you can monitor spending, reconcile accounts, and perform other account management activities.
Managing your complete financial picture. If you have checking, savings, CDs, loans, and investment accounts with the same financial institution, you may be able to monitor all your accounts from one place, helping you keep track of your complete financial picture.
Source: American Heritage Bank
More Banking Needs
With everything going electronic and online, identity theft has become an ever more common problem.
For single parents, managing finances can carry significant stress, concern and worry. Stretching one income to provide for your family is important, and knowing how to do it effectively, without getting stressed out, is even more so.
According to a recent survey conducted by AARP, less than three-fourths of Americans have a monthly budget they try to stick to. The survey didn't ask how many people were successful with staying on budget, but previous measures suggest that there isn't cause for a great deal of optimism.
If anything can be learned from the housing crisis of the past few years, it's the importance of making sure you can afford to make that dream a reality.
Watching your child become more financially independent is both exciting and rewarding, but building a good credit history is an important part of the process.
Cultivating a positive relationship with your financial institution is an important endeavor; it sets the tone for your business's financial future.
Waiting to start saving for retirement can reduce your ability to live comfortably during your retirement years.
Identity theft, also known as ID theft, is a crime in which a criminal obtains key pieces of personal information, such as Social Security or driver's license numbers, in order to pose as someone else.
According to a 2010 survey by the American Bankers Association, most customers prefer to do their banking online compared to any other method.