http://sjfiremuseum.org/pdf/new_firehouse_pumper.pdf Bank Scam #4: Automatic Saving Plans such as BofA “Keep the Change” and Wells Fargo Way2Save You may have even seen the commercials for Bank of America “Keep the Change” and Wells Fargo “Way2Save.” Both claim to “help you save” by transferring a small amount of money from your checking account to your savings account each time you use your debit card. Now, if you read Bank Scams #1, 2, […]
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Bank Scam #3: Fractional Reserve Banking
Bank Scam #3: Fractional Reserve Banking “Give a man a gun and he can rob a bank. Give a man a bank and he can rob the world.” It may be written clearly on your credit card, auto statements, and even your mortgage as to the amount of interest you are paying on a monthly basis. Even current laws mandate the banks to show exactly the cost […]
Bank Scam #1: Save Money
Bank Scam #1: Save Money Welcome back to Rich Man Poor Bank. It is finally time to expose the most common scams the biggest banks use to lock up your money–while paying you nothing–while they invest your savings for personal profit. Over the next 10 weeks I will be posting many of the most common scams I see when working with middle-American families. Let’s start with biggest […]
Get out of Debt: Supercharge the “debt snowball”
If you have ever looked into strategies for getting out of debt, it is very likely you have heard of the “Debt Snowball.” Author, talk show host and personal finance expert Dave Ramsey is a huge promoter of this strategy. In fact, countless people I have met over the years have used Dave’s advice to become debt-free. Now, perhaps you would […]
Want to get out of debt? Dave and Selina wanted to be less than “average”
Want to get out of debt? If you ever wondered, How do I get out of debt?, you’re not alone. In fact, you are considered an average household if you have total balances of $16,000 on credit cards alone. For anyone above $16,000–just being “average” could be a big step in the right direction. According to www.creditcards.com, the national average interest rate for credit cards is just under 15%, and a “low” interest card would be 10.4%. Those with “bad […]
How to Find a Credit Union
How to Find a Credit Union Perhaps you are still on the fence about firing your bank, to find a credit union? You may be asking, “Does a credit union require a special membership?” I had the same question when I decided to transfer my money from Wells Fargo to the Burbank Federal Credit Union. When I moved my money there […]
Starting on the Path to Financial Independence
Starting on the Path to Financial Independence “My parents told me it was important to save money and get good credit.” I hear this all the time from those who struggle financially. Perhaps your parents told you to do the same? You may want to give this “advice” some careful consideration–if you plan to prosper financially. You may want to ask: “Who really benefits […]
Help Strengthen the Bank Transfer Day Campaign
Have you heard of Bank Transfer Day? The banks would hope that you never do so I feel it is my responsibility to tell you about it. It is only because of Facebook and other forms of social media that the banks are losing their grasp on middle American families. Real (non-bank) financial education is becoming freely available to all […]
synecdochically Mark Quann is an entrepreneur with a belief in the liberating power of financial education and a campaign to slash the toxic influence of big banks and credit companies. Read More
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