Personal Finance Advice and Commentary

Thursday, June 09, 2011 1:12 pm
By Jim Wang · Bankrate.com

The first “bank” account I ever opened was at a credit union. I was only 15 at the time, co-signing the document with my mother, and I didn’t know the difference between a checking account and a savings account. In fact, I was even more perplexed with the credit union terminology of share draft and share

Monday, April 11, 2011 4:28 pm
By Jim Wang · Bankrate.com

Credit cards are fantastic tools if you are responsible with credit. Whereas some people compare it to a hammer, a powerful tool when used properly, I like to think of it as a Swiss army knife. Like a Swiss army knife, there are parts of it that you will probably never use as often as

Monday, July 26, 2010 1:46 pm
By Jim Wang · Bankrate.com

Have you ever wondered why a high yield savings account at ING Direct or Ally Bank can pay interest rates that are 10 to 20 times more than your local brick and mortar? When your local bank offers 0.01 percent APY on your savings account and an online bank offers 1.5 percent APY, it seems