Getting Around ATM Fees

Have you ever gone to an unfamiliar ATM and wondered if you would be charged extra for using it? Maybe you’ve been surprised by how much you are charged for withdrawing cash. Fees are a major way that banks make money, but often they seem excessive. Bankrate.com recently found that out-of-network ATM fees now average over $4.50.

 

But you might not need to pay that much. Some banks and credit unions refund these types of fees. They may also have rewards programs and no minimum balance. It pays to shop around.

 

To check whether your bank or credit union refunds ATM surcharges, visit www.checkingfinder.com or www.kasasa.com.

 

 

Reference:

 

Gerstner, L. (2015, January). Never Pay an ATM Fee Again. Kiplinger.com. Retrieved December 9, 2015, from http://www.kiplinger.com/article/credit/T005-C000-S002-never-pay-an-atm-fee-again.html.

 

Be an Educated Vote and Check the Facts

This election year, political statements are more over-the-top than ever before, with candidates going so far as calling each other liars during presidential debates and media interviews.

In our current political debates, various false claims are being made by presidential candidates and others. And it’s not just a Democratic or Republican problem: candidates from both parties are saying things that are not true. Political commentators do this, too. If you don’t want to be fooled by exaggerated political advertisements or false statements by candidates, you can find out for yourself. Check out their ads and statements yourself at www.factcheck.org to learn the unbiased truth about candidates of both parties.

So what are some false claims being made?

One false claim by a Republican: During the ninth GOP debate, Marco Rubio made a false claim regarding illegal immigration. Rubio stated that illegal immigration “is worse today than it was three years ago, which is worse than it was five years ago.” The latest figures do not bear this out, however. The 2014 total of illegal immigrants in the U.S was estimated at 11.3 million. In 2011 (three years before 2014) the total was 11.5 million, so there actually appear to be fewer illegal immigrants now. (These are the latest available figures, so it is not possible to know yet exactly where we are today; but the numbers are remaining stable over time and do not appear to be going up.)

One false claim by a Democrat: During the sixth Democratic debate, Hillary Clinton made a false claim regarding wages. She stated, “Americans haven’t had a raise in 15 years.” According to the Bureau of Labor Statistics, December 2015 showed a 9.2 percent increase in real wages over 15 years ago, however. (“Real wages” show whether earnings have really gone up after inflation.) Last year, real wages increased 2.3 percent.

FactCheck.org revealed the facts in both of these cases. Based on a review of statements examined on their site, it is clear that, no matter who you vote for, you will be voting for a person who has bent the facts. So, in this less-than-ideal world, who is the best candidate for you?

If you do not know what all the candidates stand for, educate yourself. Do your own research. This can help you choose candidates based on your beliefs, those people you believe would do a good job. Be open to new information and hear what others have to say, but form your own informed opinions based on your own beliefs.

America is at a turning point and you can help make a difference in our country by being informed.

References:

Annenberg Public Policy Center. (n.d.). Our Funding. FactCheck.org. Retrieved February 25, 2016, from http://www.factcheck.org/our-funding. (Fact Check is a project of the Annenberg Public Policy Center. The Web site monitors the factual accuracy of what politicians, political action groups, and talk show hosts are saying. Their main goal is to increase the public’s knowledge and understanding of politics. Inside Philanthropy praised Fact Check’s disclosure policy, which allows the public to see clearly whether they are being influenced by outside money.)

FactCheck.org. (2016, February 12). Fact Checking the Sixth Democratic Debate. Retrieved February 17, 2016, from http://www.factcheck.org/2016/02/factchecking-the-sixth-democratic-debate/.

FactCheck.org. (2016, February 14). Fact Checking the Ninth GOP Debate. Retrieved February 17, 2016, from http://www.factcheck.org/2016/02/factchecking-the-ninth-gop-debate/.

Are You Going to College? Then You Probably Should Fill Out the FAFSA!

If you are applying to college, or are currently in college, you probably have heard of the FAFSA form. This is the Free Application for Federal Student Aid. Teachers, counselors and other students have likely told you various reasons why you should or should not fill out the FAFSA form. But have you investigated it for yourself?

FAFSA determines a student’s eligibility for federal financial aid. It also is used by colleges and universities to determine who is eligible for financial aid awarded through their institutions. Even if you don’t think you qualify, you probably should fill it out, as not all financial aid is based on need. You could also qualify based on merit, for your grades, standardized test scores, or for athletic achievements. And it costs nothing to apply.

Even if your parents make enough money to pay, or you’re a nontraditional student, or your grades are not as high as they should be, you probably still qualify for some form of financial aid. (The biggest problem with low grades is that fewer colleges or universities will accept you, and you will end up at a less competitive institution. And this may limit your future opportunities.)

A common myth is that filling out a FAFSA form is difficult and takes too much time. The form used to be time-consuming, but it has been made much easier to fill out. It now takes an average of 23 minutes.

Because college is expensive, you should always be looking for some type of financial aid. Although not all forms of student aid are equal and taking on too much loan debt can leave you with a heavy financial burden for many years, you do well to investigate all aid that is available to you.

Have you filled out your FAFSA form for the next school year? The best time to begin is early January, as soon as the form becomes available for that year. This way, you learn your results earlier, and so will your college or university. If your institution awards funds early, you want to make sure you’re in time and have every opportunity to receive aid.

Watch out for errors when filing, as most submissions have some incorrect information. Most importantly, be sure you understand which assets count against you and which you could leave off the form. Your checking account does count against you, while retirement assets and family businesses do not. But you will have a chance to correct errors. If your parents have not yet filed their taxes, you can always estimate their income and correct it later.

References:

Hoyt, E. (2015, December 2). Why Should I Complete the FAFSA?  Fastweb. Retrieved January 13, 2016, from http://www.fastweb.com/financial-aid/articles/why-should-i-complete-the-fafsa.

Rice, A. (2015, January 5) Why You Should Fill Out the FAFSA. US News & World Report. Retrieved January 13, 2016, from http://money.usnews.com/money/blogs/my-money/2015/01/05/why-you-should-fill-out-the-fafsa.