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IRAs Are a Great Option for the New Year

by @ YNB | The Bank That Makes Things Happen

Certain contributions to Individual Retirement Accounts before April 15th are tax-deductible and can save you on your tax bill

The post IRAs Are a Great Option for the New Year appeared first on YNB | The Bank That Makes Things Happen.

Ally Bank Online Savings Account: Earn 1.45% APY Rate [Nationwide]

by Danny Nguyen @ Bank Deal Guy

Available nationwide, Ally Bank is offering you a 1.45% APY on your funds for opening a new Ally Bank Online Savings Account. Below is all the information you need to earn 1.45% APY Rate on your funds when you open an Ally Bank Online Savings Account. Ally Bank Online Savings Account Summary Here is your opportunity to earn a an interest... Read More →

The post Ally Bank Online Savings Account: Earn 1.45% APY Rate [Nationwide] appeared first on Bank Deal Guy.

New Year, New Car; Lower Rate

by @ YNB | The Bank That Makes Things Happen

The post New Year, New Car; Lower Rate appeared first on YNB | The Bank That Makes Things Happen.

Best Savings Accounts And High Yield Rates February 2018

by Tony Phan @ MoneysMyLife

Do you need to find out which bank has the best Savings Account rates? Or, how about which has the best Money Market interest rates? Maybe you need a quick overview of the differences between the two types of interest-earning accounts to begin with. We’ll go over all of these questions and help you find the best […]

Legacy Texas $200 Checking Bonus [TX] (Current Clients Only)

by Danny Nguyen @ Bank Deal Guy

Existing LegacyTexas clients now have the opportunity to earn a $200 checking bonus when you open a new Maximum Checking Account and meeting certain requirements. Below is all the information and details you need to earn your Legacy Texas $200 Checking Bonus! Legacy Texas $200 Checking Bonus Summary To earn your Legacy Texas $200 Checking Bonus, simply open... Read More →

The post Legacy Texas $200 Checking Bonus [TX] (Current Clients Only) appeared first on Bank Deal Guy.

U.S. Bank FlexPerks Travel Rewards Visa Olympics 25,000 Bonus Points + Points For Every Medal + Annual Fee Waived First Year (In Branch)

by Hilary Tran @ Bank Deal Guy

The US Bank FlexPerks Travel Rewards Card has brought back its popular promotion for an increased signup bonus tied to Team USA’s performance in the Winter Olympics. This offer is currently only available in-branch, but will likely be offered online as well in the coming days. So, apply between February 5, 2018 and March 10, 2018,... Read More →

The post U.S. Bank FlexPerks Travel Rewards Visa Olympics 25,000 Bonus Points + Points For Every Medal + Annual Fee Waived First Year (In Branch) appeared first on Bank Deal Guy.

Bank Deals, Bonuses, Promotions, & Offers - February 2018

Bank Deals, Bonuses, Promotions, & Offers - February 2018


Bank Checking Savings

Here are the best national bank deals, bonuses, promotions, and offers. You'll find the best banking perks with no fees, free checking, big cash offers. You'll find the best national bank promotions from both big and small banks both checking and savings accounts such as Chase Bank, Citibank, Bank of America, PNC Bank, Santander Bank, HSBC, Capital One, U.S Bank, Wells Fargo, and many more.

Best Bank Bonuses in Delaware

by Anthony Nguyen @ Bank Checking Savings

Editor’s Note: If this is not your state, you can click on the state(s) above to see the Best Bank Bonuses being offered in your selected state(s). Delaware may not have any National Parks, historic sites, or memorials but as the “First State” it has the Best Bank Bonuses in Delaware. While some of these promotions are straightforward, others come with requirements and... Keep Reading↠

The post Best Bank Bonuses in Delaware appeared first on Bank Checking Savings.

Huntington Bank Accelerated Business Checking Bonus: Earn $500 Promotion (OH, MI, IN, PA, KY, WV, IL & WI)

by Anthony Nguyen @ Bank Checking Savings

If you’re a larger small business that need the advantage of higher volume with checking activities and cash flow, there’s not a lot of checking accounts out there that could offer you such a necessity. However, with Huntington Bank’s Accelerated Business Checking accounts, it’s safe to say that you’ll be given just that. The Accelerated... Keep Reading↠

The post Huntington Bank Accelerated Business Checking Bonus: Earn $500 Promotion (OH, MI, IN, PA, KY, WV, IL & WI) appeared first on Bank Checking Savings.

Iron Condor: How It Works

by feedback@creditdonkey.com (Kim Pinnelli) @ CreditDonkey Tips

What if you could limit your losses while predicting your profits? It sounds too good to be true. It's possible with the iron condor, though.

This trade isn’t for beginners. You’ll want to get the hang of buying puts and calls first. You should also get a little experience writing puts and calls as well. Once you understand both sides, you can try your luck at the iron condor. This trade gives you protection on both sides of the equation.

What Is an Iron Condor?

The iron condor is a trade for the experienced trader who wants limited risk. You do best with the trade when the underlying stock has low volatility.

The iron condor has 4-legs:

  • Buy a put
  • Write a put
  • Buy a call
  • Write a call

Each option has the same expiration for this trade.

How you structure the strike prices determines your profit/loss.

You’ll buy an out-of-the money call with a higher strike price than the out-of-the-money call you sell. You’ll also buy an out-of-the-money put with a lower strike price than the out-of-the-money put you sell. The combination of trades leaves you with a net credit or profit.

Here’s how it works:

Let’s say XYZ stock currently trades for $40 and you want to trade an iron condor. You’d do the following:

  • Sell a call with a strike price of $45 ($1.00 premium)
  • Buy a call with a strike price of $50 ($0.50 premium)
  • Sell a put with a strike price of $35 ($1.00 premium)
  • Buy a put with a strike price of $30 ($0.50 premium)

You’d spend $100 on the call and put. Each option is worth 100 shares. The premium is $0.50 per share x 100 shares = $50. You buy a put and a call option, costing you $100.

You’d make $200 on the call and put you wrote. The premium is $1.00 per share x 100 shares = $100. You wrote a call and a put, making you $200.

Your net premium made is then $100 ($200 - $100).

Maximum Profit Potential

The maximum profit you make on an iron condor is the net premium made. In the above example, this means $100. If the market price of the underlying stock lands between $35 and $45, all options expire worthless. You walk away with the net premium.

If the stock’s price lands outside of the narrow $35-$45 range, you’ll experience a loss. But your net premium helps to offset the loss.

Maximum Loss Risked

Although you cap your profit with this trade, you also cap your losses. Your maximum loss occurs when the stock’s market price is outside of the outer legs of the iron condor. In our example, the outer legs are $30 and $50.

You can figure your max loss with the following equation:

Max loss = Strike price of the long call – Strike price of the short call – Net premium received

Using our above example, your max loss = $50 - $45 - $1 = $4, or $400.

Here’s an example:

The market price of XYZ stock ends at $30 at expiration. All options would expire worthless except the $35 written put. The buyer of the put would exercise the right to sell to you at $35. You’d have to pay $3,500. If you turned around and sold the stock in the open market, you’d get $30/share, or $3,000. This is a loss of $500. But you have a net premium of $100; this offsets the loss, making it $400.

Even if the stock dipped below the outer leg of the iron condor, you’d still cap your loss at $400. Let’s say the price fell to $28. The two left-sided options would be exercised. You’d exercise your bought put. This allows you to sell your stock for $30 per share. You’d buy 100 shares for $28 and sell them for $30. That gives you a $200 profit.

Your buyer would also exercise their put, forcing you to buy their shares at $35/share. You’d then sell them on the open market for $28. You’d suffer a loss of $700.

This loss is offset by your $200 profit on the bought put and the $100 net credit received. You walk away with a maximum $400 loss.

The same scenario occurs on the right side options of the condor. If the price exceeds the long call’s strike price of $50, your maximum loss is still $400.

Figuring Out Your Break-Even Point

It’s always important to determine your break-even point before entering a trade. In this case, there are two break-even points:

  • Upper break-even point = Strike price of the short call + Net premium paid
  • Lower break-even point = Strike price of the short put – Net premium paid

Using our above example, it would look like this:

  • Upper break-even point = $45 + $1 = $46

If the stock landed at $46 at expiration, the only option that would be exercised is the short call. The buyer of the call would want to buy the stock from you for the strike price of $45. You would have to buy the stock in the open market for $46. This is a loss of $100. But that loss is offset by the $100 net premium received. You walk away without a gain or a loss.

Your lower break-even point looks like this:

  • Lower break-even point = $35 - $1 = $34

If the stock landed at $34 at expiration, the only option that gets exercised is the short put. This option has a strike price of $35. You’d have to buy the stock at the strike price of $35. You could then sell it in the open market for $34. That’s a loss of $100, but again, you offset the loss with the net premium received of $100.

The Bottom Line

The iron condor is a good neutral strategy. You don’t think the stock will move wildly one way or the other. You limit your profits while maximizing your losses. It’s a way to make a little bit of quick money while trading options. You don’t have a large capital outlay and you don’t put your entire portfolio at risk.

Iron Condor: How It Works appeared first on CreditDonkey

Cincinnati Federal Review: $250 Checking Account Bonus [OH Residents]

by Tony Phan @ MoneysMyLife

Find the latest promotions and bonuses from Cincinnati Federal updated here. Offers have typically ranged from $150 to $250 in the past. Established in 1922 and headquartered in Cincinnati, Ohio, Cincinnati Federal has 4 locations in the state. If you’re not an Ohio resident, use our Bank Bonuses page for other offers, including those from […]

BBVA Compass Bank Deals, Bonuses, & Promotions: $50, $100, & $200 Checking & Savings Offers

by Danny Nguyen @ Bank Deal Guy

Find the latest BBVA Compass Bank Deals, Bonuses, & Promotions here at BankDealGuy! BBVA Compass Bank is available physically in a few states but available for residents in 48 contiguous states! Check out excellent checking, money market, savings, certificate of deposit accounts, and more! See below for our list of BBVA Compass Bank Deals. BBVA Compass Bank has numerous... Read More →

The post BBVA Compass Bank Deals, Bonuses, & Promotions: $50, $100, & $200 Checking & Savings Offers appeared first on Bank Deal Guy.

Ally Bank Online Checking, Savings, CD, Investing Promotions

by Tony Phan @ MoneysMyLife

Ally Bank is another great online-only bank, and offers nationwide online Checking, Savings, Money Market, CD and IRA accounts that earn market leading rates. Ally Bank is an internet-only bank based in Utah and offers a wide variety of deposit accounts, as well as auto financing services. Their online banking platform features Ally eCheck Deposit, which offers […]

Understanding Implied Volatility

by feedback@creditdonkey.com (Kim Pinnelli) @ CreditDonkey Tips

Wouldn't it be nice if someone could tell you which options to trade? If you had a crystal ball that showed you how an option would perform?

That might not be reality. But there is a way to have an idea of how a stock might perform. It's called the implied volatility. It's the market's opinion on how a stock will react in the next 12 months. The IV may predict how much a stock may move, but it doesn't predict the direction.

Knowing this opinion can help you decide which option, if any, is right for you.

A Closer Look at Implied Volatility

In more technical terms, implied volatility is a percentage of the stock price. For example, ABC stock has a 20% IV. This means the market predicts the stock will increase or decrease 20% in the next year. The IV is based on one standard deviation.

A standard deviation is a statistical term. In statistics, it means that there is a 68% chance of the IV prediction coming true. In the above example, there is a 68% chance that the stock will move 20%. It could be 20% higher or lower than its current price in 1 year.

Looking at it in simpler terms, it's a type of boundary set up for the stock's price. Knowing a stock's potential range can help you choose the right investment. You can measure the IV against your thoughts on the stock's movement. Then you can decide if and when you should buy and sell options.

Keep in mind, though, that there's still a 32% chance that the prediction won't come true. There's a 16% chance the stock could fall lower than the designated range. There's also a 16% chance it could increase even more.

Here's an example:

ABC stock currently trades at $40/share. The implied volatility of the option contract is 30%. This means within the next year, the market predicts the stock will move up or down 30%. In other words:

$40 x .30 = $12

The stock could end up:

$40 + $12 = $52

or

$40 - 12 = $28

Again, this is just a prediction and it's over the course of a year. However, you could use $28 and $52 as the "boundaries" for the stock's price for investment strategy purposes.

How Implied Volatility Affects an Option's Price

Implied volatility and option prices have a direct relationship. If implied volatility increases, the option's premium increases. If the implied volatility decreases, the option's premium decreases. In other words, rising implied volatility can be bad for buyers. The option's premiums will continue to increase. This could make the option more expensive. This also increases the buyer's break-even point.

However, a rising IV can be good for sellers. They may make an inflated premium. This can help their position. It helps lower their break-even point in an uncertain market.

There is a flip side, though. If you already own options and want to close the position, you'll feel differently. Closing the position means:

  • If you bought an option, you want to sell it back to the market to close the position.
  • If you sold an option, you want to buy it back from the market to close the position.

In this case, a rising IV is good for the buyer. Since he originally bought the option, he is trying to make money back. A rising IV could mean he collects a higher premium.

The seller, on the other hand, will regret a higher IV. The higher premium means it'll cost the investor more to buy the option back. It could result in a loss depending on how much he initially paid for the option.

Figuring Out the Option's Standard Deviation for Expiration

The implied volatility shows how the price might change over a year. But the most common options contracts expire in 1 to 3 months. Knowing what it might do in a year doesn't help much.

You can use this calculation to figure out the percentage change based on the yearly IV:

Stock price x Implied volatility x v(Days to expiration/365)

Take for example, a stock price of $50 with an implied volatility of 20% and 30-day expiration. It would have a standard deviation of:

$50 x .20 x √(30/365) = $2.80

In the next 30 days, the stock is predicted to move up or down $2.80.

In the next 12 months, however, the stock is expected to move a total of $10 either way.

Which Options Does IV Affect the Most?

As a general rule, implied volatility has the most effect on an at-the-money option. This option has a strike price equal to the market price. Here's an example:

ABC stock is currently trading for $50. You have a 3-month call for ABC stock with a $50 strike price. You wouldn't exercise the call right now. You could buy the stock from the open market at the same price. If the option has a 20% IV, it means the stock is predicted to increase or decrease 20% over the next year.

This means over the next 3 months:

ABC stock could trade for $45 or $55.

$50 x .20 x √(90/365) = $5

If it falls to $45, your call expires worthless. You wouldn't exercise your right to buy a stock at $50/share when it's trading for $45.

But, if the stock price rose to $55, you would exercise your call. You could then buy 100 shares at $50 and then sell them for $55/share. You'd realize capital gains of $500 minus the premium you paid for the option.

Any change in the stock's price can affect your option's position.

On the other hand, deep out-of-the-money or in-the-money options aren't as affected. Even a 20% predicted change won't affect your position as much.

For example:

ABC stock currently trades for $50. You have a 3-month call with a $30 strike price that you haven't exercised yet. Right now you are in-the-money. You have $20 intrinsic value on the stock.

Intrinsic value: The equity you have in a stock or the difference between the stock's price and the option's strike price.

Again, the 20% implied volatility means that in the next 3 months, the stock might change $5. You are already deep in the money with a $30 call. That $5 change won't affect your position.

If the stock increases $5, it would be $55. You exercise your option at either price. If the stock falls $5, you could still exercise your option as it would trade at $45.

Using Implied Volatility in Your Strategy

As a general rule, you want to buy when the implied volatility is low and sell when it's high. This way, you buy for a lower premium and have a lower break-even point. The longer your expiration date in this case, the better, though. It gives your stock more time to change in the direction you need.

If you sell when implied volatility is high, you increase the premiums you make on the option. Of course, high volatility means higher risk that the stock could move in the wrong direction.

The Final Word

Implied volatility shouldn't be the only thing you consider. You can, however, use it as a factor. Knowing what a stock might do in the future can help you strategize. That's what buying and selling options is all about.

Understanding Implied Volatility appeared first on CreditDonkey

Gift Card Fees Waived This Holiday Season!

by @ YNB | The Bank That Makes Things Happen

Customers and non-customers can take advantage of paying no fee when purchasing YNB VISA Gift Cards during November and December.

The post Gift Card Fees Waived This Holiday Season! appeared first on YNB | The Bank That Makes Things Happen.

BBVA Compass Bank 12-Month Certificate of Deposit Account: Earn 1.50% APY [Nationwide]

by Danny Nguyen @ Bank Deal Guy

Available nationwide, you can earn 1.50% APY when you open up a new 12-Month CD Account with BBVA Compass Bank! Below is all the information and details you need to open your BBVA Compass Bank 12-Month Certificate of Deposit Account to earn 1.50% APY! Editor’s Note: See our full list of BBVA Compass Bank Deals, Bonuses, Rates, and Promotions. BBVA Compass Bank... Read More →

The post BBVA Compass Bank 12-Month Certificate of Deposit Account: Earn 1.50% APY [Nationwide] appeared first on Bank Deal Guy.

Get Rid of Paper Statements

by @ YNB | The Bank That Makes Things Happen

Are your paper bank statements creating clutter around your home? Do they go straight from the mailbox to your trash can or recycle bin? Perhaps you file them away in a filing cabinet where they are never seen again and are gathering dust. If so, use the form below to switch to e-statements today! If […]

The post Get Rid of Paper Statements appeared first on YNB | The Bank That Makes Things Happen.

Butterfly Call Spreads: What You Need to Know

by feedback@creditdonkey.com (Kim Pinnelli) @ CreditDonkey Tips

Predicting a stock's future can be a profitable investment. It can also lead to tremendous loss. Wouldn't it be nice if you could limit your losses? It may be possible with the butterfly call spread.

The strategy doesn’t eliminate your losses – there’s still potential for loss. But you might lose a little less than if you only traded a long call.

What Is a Butterfly Spread?

The butterfly spread takes both the bull and bear position. You cover the in-the-money, at-the-money, and out-of-the-money positions. It sounds like a win-win, but you can still lose with this trade. Luckily, the maximum loss is limited. But the maximum profit is also limited. There are no “the sky is the limit” type trades here, unlike the long call position.

The long call butterfly is a strategy for the neutral investor. You think there might be change, but it won’t be anything drastic. The strategy involves 3 legs. You make 2 at-the-money trades, 1 in-the-money trade, and 1 out-of-the-money trade.

The short call butterfly works for investors who think the market is volatile. In this case, little change means loss, while bigger change means profit. You make the same number of trades as the long butterfly. It just uses a different strategy.

In order for either butterfly to work, the “wings” of the butterfly must be equally distant from the middle. Here’s a quick example. If the middle (or at-the-money) strike price is $40, your wings should be $35 and $45. They could be any equal distance. Your butterfly’s body (or middle price) will always equal the stock’s current market price.

The Long Call Butterfly

The most common butterfly spread is the long call butterfly. You use this strategy when you don’t think the market price will change much. Here’s what it entails:

  • Buy (take the long position) 1 in-the-money call with a lower strike price than the current market price
  • Write (short) 2 at-the-money call options with a strike price equal to the current market price
  • Buy (take the long position) 1 out-of-the-money call with a higher strike price than the current market price

Here’s an example:

ABC stock trades at $30 today. You want to create a long butterfly spread. You’ll trade the following:

  • Buy 1 call with a $25 strike price ($6.00 premium)
  • Sell 2 calls with a $30 strike price ($3.00 premium)
  • Buy 1 call with a $35 strike price ($1.00 premium)

The total cost of the trade is:

$600 (made for 2 short calls) - $600 (paid for long call with lower strike price) - $100 (paid for long call with higher strike price) = ($100), or $100 net premium paid

You reach maximum profit when the market price of the stock doesn’t change. If it remained at $30, the 2 short calls and 1 long call with a $35 strike price expire worthless. You would execute the long call with a strike price of $25, though. This would make you $500 (buy 100 shares at $25 and sell 100 shares at $30).

Your maximum profit then equals $500 (net profit from trade) - $100 (net premium paid) = $400.

A quick calculation to determine your max profit is:

Strike price of short call – strike price of ITM long call – net premium paid = Maximum profit

Your maximum loss is the net premium paid. In this case, your loss would be $100. You realize maximum loss in one of 2 ways:

  • When the market price of the stock is lower than the ITM call’s strike price
    In the above example, if the market price hit $24, all options would expire worthless. Your maximum loss would be the $100 net premium paid.

  • When the market price of the stock is higher than the OTM call’s strike price
    In the above example, if the market price hit $36, a few trades would occur. You’d be obligated to sell 200 shares at $30/share ($6,000). You’d buy 100 shares at $25/share ($2,500) and 100 shares at $35 ($3,500). You’d break even with the trade, but you are still out the $100 net premium paid.

Now let’s compare this outcome to the outcome of just buying the long call. The long call cost $600 and has a strike price of $25. If the stock ended at $24 at expiration, your maximum loss equals $600. That’s a $500 difference from the long butterfly call spread.

The Short Call Butterfly

You can also create a short call butterfly trade. Investors use this strategy when they think a stock has high volatility. Here’s how you create a short call butterfly:

  • Sell (short) 1 in-the-money call with a lower strike price than the current market price
  • Buy (take a long position) 2 at-the-money calls with a strike price equal to the current market price
  • Sell (short) 1 out-of-the-money call with a higher strike price than the current market price

Here’s an example:

ABC stock trades at $40 today. You think it will move up or down in a drastic manner, so you create a short butterfly trade:

  • Sell (short) 1 call with a $35 strike price ($7.00 premium)
  • Buy (go long) 2 calls with a $40 strike price ($3.00 premium)
  • Sell (short) 1 call with a $45 strike price ($1.00 premium)

The total cost for the trade is:

$700 (made for shorting 1 call with $25 strike price) + $100 (made for shorting 1 call with a $35 strike price) - $600 (paid for buying 2 calls with a $30 strike price) = $200 net premium made

Your maximum profit on this trade is the net premium made. You have limited profit, both above the higher strike price and below the lower strike price.

Here’s an example:

If the market price of the stock ends at $33 upon expiration, all contracts expire worthless. You keep the $200 premium and walk away.

If the market price of the stock ends at $46, the following would occur:

  • The short call with a strike price of $35 would be executed, making you $3,500
  • You’d execute your 2 long call contracts at $40/share, costing you $8,000
  • The short call with a strike price of $45 would be executed, making you $4,500

You’d walk away with $3,500 + $4,500 - $8,000 + $100 (net premium made) = $100

With this strategy, the maximum profit is achieved whenever the stock’s price is:

  • Less than the lowest strike price
  • Higher than the highest strike price.

Your maximum loss in this strategy is not as simple. You’ll realize maximum loss if the strike price doesn’t change at all. Remember, this is a strategy to use when you think the stock’s volatility is high.

If the market price doesn’t change, only one leg of the strategy is assigned:

Let’s say the market price of the stock is $40 at expiration – it never changed. In this case, the following would happen:

  • You’d execute the short call with a strike price of $35, making you $3,500
  • The long call with a strike price of $40 expires worthless
  • The short call with a strike price of $45 expires worthless

You’d have to buy the stock at the market price of $4,000 and sell it for $3,500, leaving you with a loss of $500. You made a $100 net premium, though, so your net loss equals $400.

A quick calculation to determine your maximum loss is:

Strike price of long call – strike price of short call with lower strike – net premium made = Maximum loss/share

The Bottom Line

You need quite a bit of experience for either butterfly call spread. Once you get the hang of options, you can use the strategy to limit losses. Remember, though, you also limit your profit. It’s all about a little give and take.

Butterfly Call Spreads: What You Need to Know appeared first on CreditDonkey

BBVA Compass Bank Checking, Savings, CD Account Promotions

by Tony Phan @ MoneysMyLife

Find the latest BBVA Compass bank promotions, bonuses and offers here for Checking and Savings accounts. Typical bonus amounts are $25, $50, $100, $125, $250, etc. Sometimes there will also gift bonuses, such as tablets and other electronics. BBVA Compass was established in 1964 and is headquartered in Birmingham, Alabama. They have over 650 branches […]

Newtown Savings Bank $100 Checking Bonus [CT Residents]

by Tony Phan @ MoneysMyLife

Find updated Newtown Savings Bank promotions and bonuses at this page. Typical bonuses have been for $100, $150 and $200. Established in 1855 and headquartered in Newtown, Connecticut, Newtown Savings Bank has nearly 20 locations throughout the state. If you’re not a CT resident, head on over to our Bank Bonuses page for more suitable […]

Allied Bank gives away Smartphones every month!

by Fauzia Mussarat @ Allied Bank Limited

HSBC Bank Deals, Bonuses, & Promotions: $100, $200, $350, $600, $750 Checking Offers

by Hilary Tran @ Bank Deal Guy

Check out our listing of HSBC Bank Deals of $100, $200, $350, $600, & $700 promotions. At HSBC they seek to build trust-based and lasting relationships with their many stakeholders to generate value in society and deliver long-term shareholder returns. HSBC Bank is available nationwide but has physical branches in the following states: CA, CT, DC,... Read More →

The post HSBC Bank Deals, Bonuses, & Promotions: $100, $200, $350, $600, $750 Checking Offers appeared first on Bank Deal Guy.

Chase Freedom Credit Card $150 Bonus + 5% Quarterly Cash Back + No Annual Fee

by Anthony Nguyen @ Bank Deal Guy

Compare this card with other cash back cards here. With the Chase Freedom® Card, you can earn a $150 bonus after you spend $500 on purchases during your first 3 months of opening an account! Additionally, you can enjoy a 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate and unlimited... Read More →

The post Chase Freedom Credit Card $150 Bonus + 5% Quarterly Cash Back + No Annual Fee appeared first on Bank Deal Guy.

Secure Your Valuables Affordably

by @ YNB | The Bank That Makes Things Happen

BENEFITS OF USING A SAFE DEPOSIT BOX Your items are protected from fire, flood, or other natural disasters at home A natural disaster can destroy much more than the house itself. It can destroy memories — like photographs, jewelry, birth certificates, and other important records. You should keep your most valued possessions, copies of your […]

The post Secure Your Valuables Affordably appeared first on YNB | The Bank That Makes Things Happen.

Chase Total Checking Account Bonus

by Liz Pham @ Bank Deal Guy

Right now, Chase Bank is offering a sign-up bonus when you open their Chase Total Checking® Account. This account is very easy to use and you’ll have access to many features such as online banking, bill pay, mobile banking services like Chase DepositFriendlySM ATMs nationwide, and more! With over 16,000 ATMs and 5,100 branches, convenience is definitely... Read More →

The post Chase Total Checking Account Bonus appeared first on Bank Deal Guy.

Best Bank Account Bonuses and Offers February 2018 - NerdWallet

Best Bank Account Bonuses and Offers February 2018 - NerdWallet


NerdWallet

Excellent cash bonuses are available if you open checking or savings accounts with some banks. Here are the best offers this month: Checking account offers and savings promotions Top picks…

Chase Business Employee Deposit Card Review

by Anthony Nguyen @ Bank Checking Savings

Chase introduces yet another extension of their Business Services for all of you entrepreneurs, sole-proprietaries, etc., out there that just want more when it comes to convenience. Now you can avoid the hassle of making high-volume business deposits with Chase’s Business Employee Deposit Card. These cards would provide a helping hand for those of you... Keep Reading↠

The post Chase Business Employee Deposit Card Review appeared first on Bank Checking Savings.

The 8 Best Bank Promotions (Checking and Savings) in 2018

The 8 Best Bank Promotions (Checking and Savings) in 2018


The Dough Roller

Looking for the best checking accounts or savings accounts? These bank promotions can get you cash back when you open a new account and a top APR.

M&T Bank Deals, Bonuses, & Promotions: $150, $160, $200, & $250 Checking Offers

by Danny Nguyen @ Bank Deal Guy

Check out our listing of M&T Bank Deals of $150, $160, $200, & $250 promotions. Let M&T Bank reach your financial goals with their full suite of bank accounts and lending solutions, including savings accounts, checking accounts, auto and home loans, and more! M&T Bank has branches in the following states: CT, DC, DE, FL, MD, NJ,... Read More →

The post M&T Bank Deals, Bonuses, & Promotions: $150, $160, $200, & $250 Checking Offers appeared first on Bank Deal Guy.

Bank of America Balance Transfer Offers

Bank of America Balance Transfer Offers


CreditDonkey

Get latest Bank of America balance transfer offers with top promotions, signup bonuses, and credit card reviews on CreditDonkey

Your Perfect Checking Account is Waiting

by @ YNB | The Bank That Makes Things Happen

Take charge of your finances like never before with a personal checking account from YNB! We offer a variety of accounts with great benefits so you can get the most out of your money and enjoy a more meaningful banking relationship. Best Checking – Our most popular checking. Robust features and unlimited check writing! Blue Ribbon […]

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Chase Bank $200 Checking Bonus [Many States]

by Danny Nguyen @ Bank Deal Guy

Ranking as one of the top banks in America, you are making the right choice banking with Chase! Opening a new Chase Total Checking® Account offers you the potential to earn a $200 Checking Bonus by applying in-branch ! With over 5,100 branches in AZ, CA, CO, CT, DC, FL, GA, ID, IL, IN, KY, LA, MA,... Read More →

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10 Bank Promotions That Pay You To Open An Account

10 Bank Promotions That Pay You To Open An Account


Investopedia

Find out which banks are running cash promotions this summer.

Current Specials

Current Specials


First Hawaiian Bank

Hawaii's oldest and largest bank offering personal, private, & business banking services. First Hawaiian Bank is consistently ranked in the top tier of all U.S. banks.

M&T Bank $200 Checking Bonus [AZ, CO, CT, DC, DE, FL, MD, NJ, NY, OR, PA, VA, WA, WV] (YMMV)

by Danny Nguyen @ Bank Deal Guy

If you are a resident in one of the following states: AZ, CO, CT, DC, DE, FL, MD, NJ, NY, OR, PA, VA, WA, or WV, M&T Bank is offering you a $200 bonus when you open a new personal Checking Account with promo code TE and completing certain requirements! Below is all the information and details you need to... Read More →

The post M&T Bank $200 Checking Bonus [AZ, CO, CT, DC, DE, FL, MD, NJ, NY, OR, PA, VA, WA, WV] (YMMV) appeared first on Bank Deal Guy.

Selling Diamonds: What You Need to Know

by feedback@creditdonkey.com (Jennifer F) @ CreditDonkey Tips

Want to sell a diamond? It's not so simple. Read on for the different ways to sell your diamond, and their pros and cons.

The first thing to know is that you will not earn back what you paid. Not even close.

What a sentimental diamond ring is to you, is just... a used ring... to others. And people want a deal on a "used" ring.

If you get that, but still want to sell your diamond, then read on.

There are many ways you can sell your diamond ring. Some ways may get you more back than others. This article will explain which options best suit your needs.

Prepare for Loss in Value

What I am telling you may sting a bit, but it is important to know that unless you own a highly unusual or remarkable piece, the resale market is not strong. A diamond ring falls into the category of an emotional purchase and is not a savvy investment product.

You may be thinking: I just bought this, it's perfect and there are no faults that I can see. Why wouldn't I be able to get back every penny I paid?

The truth is, even brand new rings with low risk to sell (i.e., no flaws and a quality piece) present a steep drop in value from the original purchase price.

As a veteran re-seller of estate jewelry, I have experienced the decrease in value first-hand. Here's a run through of one of the pieces I sold:

I was commissioned to sell a diamond engagement ring on eBay with the following attributes:

  • Clarity: SI1 (slightly included, still good quality)
  • Cut: round solitaire (approximately ¼ carat)
  • Color: I (mostly clear, some warmth)
  • 14kt yellow gold prong setting/band

As you can see, this is a middle-of-the-road example. Not a complete knock-out, but certainly still in the game of being a beautiful ring. To make sure I had the information correct, I had the local jeweler do a professional appraisal, which came out to $595.00.

The ring (and others like it) sold on eBay for a mere $100.00! That's a decrease in value of just under 17% of the appraised worth.

How can this be?

Why You Will Not Sell a Diamond at Retail Value

People either need to make a profit or want a good deal. Here is why you will never be able to sell a diamond close to what you paid.

  • Retailers need to make a profit. Why would a retailer buy from you when they can buy diamonds at wholesale prices? A retail jeweler can only offer you enough so that they can make their usual profit margin (plus they have a storefront and employees to pay for). And that's the best case scenario. But in that case, they'd buy from wholesalers they already have relationships with.

  • Consumers want a bargain. A member of the public wouldn't buy a secondhand diamond at retail value when they can buy new at the same price. Plus, new options often have warranty protection, return window, and upgrade options. They'd only buy a "used diamond" if they're getting a great deal.

Most likely, you will lose 30% of what you paid if you successfully sell your diamond. And that's being optimistic. If you're selling to a jeweler, you may only get 50% of the value back.

If you understand that you're not going to get back anything near what you paid, but you still want to sell, keep reading.

How Do You Find a Buyer?

Since we know diamond rings lose a large piece of their value upon purchase, finding the right buyer to match up to your need may be tricky. Depending on the avenue you choose to sell through, you may be able to recoup some of that loss.

Selling to a retailer

If the ring was purchased through a reputable jewelry company, selling back to it may be your best bet. You also have the knowledge of the sales rep, who regularly deals with this and can guide the process.

You may have these options:

  • Buy back: Some retailers have a buy back policy where they'd buy the diamond back at a certain percentage of what you paid.

    Tip: Blue Nile is paired with Mondiamo, which offers you a cash price for your diamond based on the current selling price of a similar diamond on the site. You don't have to own a Blue Nile diamond to sell back to them. Mondiamo takes 15% of the wholesale value.

  • Trade up: Some retailers will only let you trade up. You can put 100% of the value of your diamond towards a new, bigger one. The downside of this is that you're not actually getting cash.

  • Fast sell: A jeweler may offer you a cash price to buy the diamond, but it won't be very high. Remember, they need to make a profit.

Be prepared with original documents, including return details, terms, etc. In this case, the salesperson will determine the price.

Did you know: Online jewelers usually have the most generous policies. A lot of online jewelers will even buy back a diamond that wasn't theirs.

Consigning with a local jeweler

Another option is to consign your ring with a local jeweler. This means that the jeweler will display your ring in their store and try to sell it for you. If it successfully sells, the jeweler will take a commission from the sell price (usually 25-40%).

This option saves you the stress of listing your diamond, but you may have to wait for a long time for it to sell. Pick a store that gets a lot of traffic and a jeweler you feel comfortable working with.

Online marketplaces

You can sell directly to consumers on an online platform, like eBay or Craigslist. Research what similar quality diamonds are selling for. But know that people buying from these kinds of sites are looking for good bargains, so you can't expect to sell your preowned diamond at a high price.

Work with only serious, trustworthy buyers. Also, be careful when you're meeting to exchange the cash/ring. It's a good idea to meet at a local appraiser's office. It's a safe place, and the appraiser can verify the ring.

Finding the value of what a similar diamond ring sold for on eBay is easy! Here are the steps:

  • Enter the text matching what you are looking for into the search field
  • Click the button that says "advanced" next to the search button
  • Find the section labeled "search including"'
  • Check the box marked "sold listings" and hit search

Preowned diamond marketplace

I Do, Now I Don't (IDNID) is an online marketplace that lets you list your preowned diamond and/or ring. It allows buyers and sellers to work through a secure platform. Here's how it works:

If someone buys your item, you have 7 days to send it into IDNID. The payment is held in escrow while their gemologists verify that the diamond is genuine and that the quality is as listed. If all checks out, they ship the item to the buyer and you get your payment.

It's free to list your item. However, if sold, IDNID takes a 15% commission.

A Pawn Shop

If you're in a big hurry, a pawn shop will usually give you cash for your diamond, but expect the biggest drop in price. Pawn shops are already expected to have low prices, plus, they need to make a profit. And usually, pawn shop owners aren't very knowledgeable about diamonds, so the offer may be even lower.

Auction

If you have a more valuable or unique piece, you can consider auctioning it off. Big name auction houses like Sotheby's usually only consider fancy-colored or large diamonds.

Online auctions, such as Worthy, have gotten popular too. Worthy picks up and grades your diamond and places it on their site. Then they invite thousands of professional jewelers to bid on your item. If the final bid is above your set minimum price, you'll receive the payment (minus commission).

The downside to auctions is that you don't really have control over the final price. But the advantage is that if your ring is special, it'll be seen by the right people who know the value.

How to Help Your Diamond Sell

Here are some final tips for a more successful sale:

  • Know your diamond's value. The first thing you need is to know what your diamond is worth on the current market. You can take it to a couple of local appraisers to determine the value. This will help you better evaluate the deals you're offered.

  • Get your diamond certified. Jewelers and buyers are more likely to purchase a properly certified diamond. A certification basically proves that your diamond is a genuine gem and that it's the quality you say it is. If you don't have your diamond's certification, you can send in your diamond to GIA to get an accurate report.

  • It may be easier to sell the diamond and ring separately. You may able to sell faster by just selling the loose diamond to a jeweler. Other people may not love your setting like you do, unless you have a truly exquisite or unique vintage setting.

    As for the ring itself, it's relatively easy to take it to a gold shop and sell it for scrap metal to be melted down. They can give you a price closer to the current market value of the precious metal.

Remember: The Resale Market Is Weak

Upgrading your original purchase by trading for another ring online is going to be your most financially lucrative option. Much like a new automobile, a diamond ring does not hold its value when you buy it. However, with a little bit of research, you can steer yourself in the right direction to make a sale. Good luck.

Selling Diamonds: What You Need to Know appeared first on CreditDonkey

Disclaimer: Opinions expressed here are those of the author's alone. Please support CreditDonkey on our mission to help you make savvy financial decisions. Our free online service is made possible through financial relationships with some of the products and services mentioned on this site. We may receive compensation if you shop through links in our content.

Chase Savings Coupon Code

by Anthony Nguyen @ Bank Deal Guy

The Chase SavingsSM Account is made simple. With this account, you can start saving with ease! You’ll have access to chase.com and our mobile banking tools. Plus, 24-hour customer support is just a phone call away. See table below for more info regarding the Chase SavingsSM Account Coupon. For more offerings from Chase, be sure to... Read More →

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Premier America Credit Union Promotions: $50 + $50 Bonus [CA, TX Residents]

by Tony Phan @ MoneysMyLife

Premier America Credit Union promotions and sign-up bonus offers will be updated at this page. Typical offers in the past have been for $100 to $200 in bonus cash. Headquartered in Chatsworth, California and established in 1957, Premier America Credit Union has around 20 locations in California and Texas. If you’re not a resident of either […]

Central Bank Checking Bonus: $150 Promotion (Oklahoma & Missouri) *Targeted*

by Anthony Nguyen @ Bank Checking Savings

Be sure to check your mail today, because right now Central Bank is currently offering qualified residents of Oklahoma and Missouri a generous $150 bonus when you sign up and open a new Mychoice Checking and SaveUp Savings Account using your personal offer promotional code by December 31, 2018. To obtain the first $100, all you... Keep Reading↠

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Chase $50 College Checking Bonus Coupon [Many States]

by Danny Nguyen @ Bank Deal Guy

You cannot go wrong banking with one of the highest ranking banks in America! With access to over 16,000 Chase ATMs, 5,100 branches and the ability to deposit checks from virtually anywhere, anytime, just by taking a photo with the Chase Mobile®app. Opening a new Chase College CheckingSM Account offers you the potential to earn a $50 bonus... Read More →

The post Chase $50 College Checking Bonus Coupon [Many States] appeared first on Bank Deal Guy.

Chase Total Checking vs Premier Plus Checking Account Comparison

by Danny Nguyen @ Bank Deal Guy

Looking to open a new checking account with Chase and not sure which one to open? Below, we’ll give you a comparison of the Chase Premier Plus CheckingSM and the Chase Total Checking® to find which one best suits you! Need more than basic checking with online bill pay and mobile banking? Not only can this Chase Premier Plus... Read More →

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Take a Travel Card With You

by @ YNB | The Bank That Makes Things Happen

A Visa TravelMoney® Reloadable Debit Card is the secure and efficient way to access funds when traveling anywhere in the world and can be used anywhere Visa Debit Cards are accepted. Purchase at any YNB location. Load your card between $25 and $5000. Withdrawal $300 cash per day at Visa and PLUS ATMs worldwide. No […]

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Chase Total Checking Coupon Code

by Anthony Nguyen @ Bank Deal Guy

The Chase Total Checking® account is Chase Bank’s most popular checking account, and one of the best checking accounts among all major banks. It’s also the most simple checking account offered by Chase and it’s very easy to use! Some great features that you can expect are online banking, bill pay, mobile banking services, plus... Read More →

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How To Avoid Chase Bank Account Monthly Fees

by Hilary Tran @ Bank Deal Guy

Bank accounts are a useful way to track your transactions and keep an eye on all your expenses. Not only do you know that your money is safe, but you can also earn interest with the money that you have in your bank account. However, nothing is free and bank accounts come with the threat... Read More →

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Apply For Chase Premier PlusSM Checking and Receive $300 Bonus

by Anthony Nguyen @ Bank Checking Savings

The Chase Premier Plus CheckingSM account is a great checking option to consider and now you can request a coupon online and it offers new customers the chance to earn a $300 bonus! The bonus is a limited time offer that expires on 04/16/2018. It’s especially appealing because all you have to do is follow few simple steps... Keep Reading↠

The post Apply For Chase Premier Plus<sup>SM</sup> Checking and Receive $300 Bonus appeared first on Bank Checking Savings.

Best College Students Checking Accounts – 2018

by Howard Young @ Bank Checking Savings

College is the time of your life to make mistakes, learn valuable life lessons and is filled with many important decisions. With so many choices for students out there, life can become quite hectic. From choosing the right schedule that best fits you to which banking option fits your needs the best are just a... Keep Reading↠

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British Airways Visa Signature Card 75,000 Avios Bonus + 3 Avios for Every $1 Spent on British Airways Purchases

by Anthony Nguyen @ Bank Deal Guy

Compare this card with other travel related cards here. The British Airways Visa Signature® Card is offering a chance to earn up to 75,000 bonus Avios. Earn 50,000 bonus Avios after you spend $3,000 on purchases within the first 3 months of account opening. Plus, earn an additional 25,000 bonus Avios after you spend $10,000 on purchases within your first year of account... Read More →

The post British Airways Visa Signature Card 75,000 Avios Bonus + 3 Avios for Every $1 Spent on British Airways Purchases appeared first on Bank Deal Guy.

Special Low Rate on Used Cars This Holiday Season!

by @ YNB | The Bank That Makes Things Happen

It's never been a better time to get into a new used or preowned car! We have special financing for a limited time at a special low rate of 2.99% APR!

The post Special Low Rate on Used Cars This Holiday Season! appeared first on YNB | The Bank That Makes Things Happen.

TD Ameritrade Brokerage Review: Up to $600 Bonus + 60 Days of Commission Free Trades

by Anthony Nguyen @ Bank Checking Savings

TD Ameritrade is currently offering residents nationwide up to a $600 bonus along with 60 days of commission free trades for a limited amount of time when you sign up and open a new TD Ameritrade Brokerage or Retirement account with the qualifying deposits within a given 60 days of account opening. Once you have done so, you will be... Keep Reading↠

The post TD Ameritrade Brokerage Review: Up to $600 Bonus + 60 Days of Commission Free Trades appeared first on Bank Checking Savings.

Best Bank Bonuses in Connecticut

by Anthony Nguyen @ Bank Checking Savings

Editor’s Note: If this is not your state, you can click on the state(s) above to see the Best Bank Bonuses being offered in your selected state(s). Connecticut is home to the United States Coast Guard Academy, but you don’t have to worry about them guarding the Best Bank Bonuses in Connecticut! While some of these promotions are straightforward, others come... Keep Reading↠

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How to Start Investing

by feedback@creditdonkey.com (Rachael O) @ CreditDonkey Tips

Thinking about investing? Learn how to make your money grow. This beginner's guide offers 7 smart steps to start investing.

1. Start Saving

To get started investing, first you need to get into the habit of saving. Make sure you're spending less money than you make. Then start "paying yourself first" by auto-depositing your savings into an online savings account. That way, you don't see the extra money in your checking account, so you're less likely to spend it.

One great place to put your savings is in an online savings account. These can offer higher rates than traditional bank accounts. Check out the best online savings accounts for some options. You might also want to put your money into a CD account.

Feel like you're only able to save small amounts at a time? That's ok. Everyone starts somewhere. Two strategies you can adopt are:

  • Establish an emergency fund, which can be held in your online savings account or CD account.

    Emergency funds cover, well, emergencies and allow you to quickly withdraw cash for unexpected expenses. Financial advisors tend to recommend having 6-12 months of living expenses, but first, start with $500. This means you won't have to sell any of your possessions or investments when an unexpected expense comes up.

  • Set up an auto-savings tool like Acorns. Acorns takes your spare change and automatically invests it in a portfolio. If you make a purchase of $4.69 at 7-Eleven, Acorns rounds your purchase up to $5 and puts the extra 31 cents into a low-cost portfolio. You'll hardly notice the difference, and it's a great way to establish an account.

2. Start or Improve Your 401(k)

Does your employer offer a 401(k) plan as a benefit? If so, do they "match" any of your investments? You might be able to find this on the company's internal website, or just ask Human Resources about it.

If your employer does offer a 401(k) with a match, you should take advantage by "maximizing your match". Here's how it works:

  • You contribute a certain percentage of every paycheck to your employer's 401(k) plan; and
  • Your employer "matches" some portion of every $1 you contribute to your 401(k).
  • This means you're contributing your own $$ to your future, and your employer is giving you extra free money too.

Typical match rates are around 3-6% of employee paychecks. This is like getting a 3-6% raise.

Your priority should be to maximize this match. For example, say your employer will match 50 cents of every dollar you contribute, up to 12% of your paycheck. This means the maximum they'll contribute is 6%. BUT you have to actually contribute the full 12% to "maximize your match." If you only contribute 5% of your paycheck, you'll only get 2.5% from your employer. Don't short-change yourself like that.

Keep in mind that there are maximums to how much you can contribute to a 401(k) plan each year (the IRS limits how much you can contribute annually). As of 2018, you can contribute up to $18,500 per year (in addition to anything your employer contributes). For people over age 50, you can add an extra $6,000 per year to that limit.

Every employer is different, and not all of them offer 401(k) plans. This is why you should make friends with your HR/Benefits department, because they can help you take advantage of your benefits. Most 401(k) plans offer free retirement advice to employees, so you should use it if you can.

If you don't work for a company that offers a 401(k) plan, don't fret. Read about other types of retirement accounts here.

3. Consider Hiring a Robo-Advisor

One great service for both beginners and experienced investors is robo-advisement. A robo-advisor (such as Betterment) is a computer algorithm that selects and manages your investments for you. When you set up an account, they'll ask you a few basic questions about your level of comfort with risk. Then they do the investing for you. Robo-advisors pick your initial investments and manage your portfolio as a whole, too.

This is a super-easy way to get started investing, since you can make your money work for you before you've had time to learn about investments.

4. Avoid High Fees

One of the biggest mistakes an investor can make is to overpay for fees. Yes, financial services cost money, but they can really eat into your returns. Index funds, or baskets of investments that simply track an index, are a great way to keep your expenses low. This is because you don't need to pay a portfolio manager to pick investments.

Let's take an example:

  • Assume Emily invests $10,000 in a low-cost index fund. She searches for the cheapest one, as measured by the expense ratio. This is the percentage of your assets that mutual funds and ETFs charge you each year. Emily's fund tracks an index, so it doesn't cost her as much. Her fund's expense ratio is only 0.10%, or one-tenth of one percent.

  • Bill invests $10,000 in an actively-managed fund that invests in the same types of investments as Emily's index fund. But he thinks his portfolio manager can outperform the market by picking the right investments, better than what Emily's index fund does automatically. He is willing to pay 1% of his own assets every year for this service.

After 10 years, who comes out ahead? Well, history shows that about 75% of the time, Emily does. Why? Because even if both funds made the same returns, Emily's fund charged her 1/10th the amount in fees as Bill's fund did. Emily pocketed an extra 0.9% per year. Over 10 years, that amounts to an extra $1,733, or over 17% of the amount they both invested.

See how powerful it can be to keep your fees low? Even renowned investor Warren Buffett cares about the topic. He made a famous bet that over the course of 10 years, a simple, cheap index fund would outperform a group of the most prestigious hedge funds. He didn't just win, his simple index fund crushed the hedge funds. A big reason is because hedge funds are so expensive relative to simple, cheap mutual funds.

The moral of this story? Pay attention to expense ratios, which all funds are required to show.

5. Open a Low-Minimum Brokerage Account

It's a myth that you need lots of money to open an account. It's also a myth that you have to know everything about the stock market in order to get started investing.

Lots of low-cost, low-minimum brokerage accounts exist these days, some of which offer robo-advisement too. We've reviewed several in depth below, and all of them have low or even $0 minimums to open accounts:

  • Ally Invest: No account minimum
  • TD Ameritrade: No account minimum; over 4,000 no-transaction-fee mutual funds
  • ETRADE: $500 account minimum; over 2,000 no-transaction-fee mutual funds

6. Allocate Your Investments

Asset allocation is a way to diversify your investments so that you're not too "exposed" to any one risk. For example, someone who invested everything in the U.S. stock market in 2008 probably did very poorly.

Asset allocation also helps you over time as your needs change. When you are very young, you have a lot of time to recover from any market downturns, like what occurred in 2008. But as you approach retirement, you'll start to need your investments, and you won't be have as much time to make up for it. Asset allocation helps you allocate risk over time.

This can be a very complex topic, so we recommend that beginners use robo-advisors to help them get started.

7. Maintain Your Portfolio

The last step is an easy one: Just set a calendar reminder to review your portfolio every 6 months. That's it.

Seriously though, lots of people get very upset when they see their portfolio value change every day. So don't watch it that much. It's that simple. Unless you want to become an investment professional, you shouldn't try to chase returns. (And Step 4 illustrates that even hedge fund managers don't always know what they're doing any better than indexes.)

When your 6-month calendar reminder goes off, log into your account(s) and call the 1-800 numbers for advice. Or, just do it yourself by learning more about investing here.

Read More:

Bottom Line

If you followed the 7 simple steps in this guide, you probably invested only a total of 1-2 hours of your time for major returns in your future.

There's a lot more you can learn, but you're done with the very hardest part: Getting started.

Read More:

Before You Invest

  1. Make a Budget
    You might be tired of hearing it, but it's true: You need a budget. This is because even if you have a lump sum to invest right now, your focus should be on investing now and regularly in the future. And how can you invest regularly if you don't know how much your regular expenses are?

    There are lots of budgeting tools to help you, so it doesn't have to be hard. The best place to start is by reviewing the last 3-6 months of your spending habits by downloading your credit card and checking account activity. You can do this on each of your bank websites, or you can sign up for an online tool like Mint.com and they can do it for you.

    Use your previous spending activity to build your budget. Categorize your purchases and determine the monthly average amount you spend on each category (for example, utilities or restaurants).

    That's it. Now you have a monthly budget. It might not be the ideal monthly budget, though, which is why you should...

  2. Trim the Fat (off your budget)
    In the process of making your budget, you probably noticed some areas to improve. That's great. Pat yourself on the back for noticing where you can trim the fat. And then do it. Set goals for how you'll reduce your spending, and remind yourself why you're doing this. You're investing because it'll help you retire earlier or save for your children's education or something else important to you, right? It can be hard to visualize those goals because they seem so far in the future, so I'll give an example here:

    Say you notice that you spend $500/month going out to eat with your spouse or friends, and you'd like to reduce that amount to $300/month. That's a savings of $200/month, and it still leaves you with the ability to regularly enjoy going out to dinner.

    If you invest that $200/month in a low-cost index fund tracking the stock market*, you can expect it to be worth $34,768 in just ten years.

    *Assuming a long-term rate of return of 8%.

    Doesn't that example make you want to trim the fat off your budget? See 10 Smart Ways to Save $1,000 a Month for more ideas.

How to Start Investing appeared first on CreditDonkey

Disclaimer: Opinions expressed here are those of the author's alone. Please support CreditDonkey on our mission to help you make savvy financial decisions. Our free online service is made possible through financial relationships with some of the products and services mentioned on this site. We may receive compensation if you shop through links in our content.

Capital One 360 Checking Review And Current Promotions - Bank Deal Guy

Capital One 360 Checking Review And Current Promotions - Bank Deal Guy


Bank Deal Guy

Table of Contents1 Capital One 360 Checking Review And Current Promotions2 Capital One 360 Checking Features:3 Capital One 360 Checking Promotions Capital One 360 Checking Review And Current Promotions The Capital One 360 Checking is the online checking account option offered by Capital One bank. Because it is an online bank, anyone in the United... Read More →

Banks Will Pay You Up to $400 Just for Opening a Checking Account

Banks Will Pay You Up to $400 Just for Opening a Checking Account


MONEY.com

But you'll have to jump though a lot of hoops to get the cash.

Best Bank Bonuses in Colorado

by Anthony Nguyen @ Bank Checking Savings

Editor’s Note: If this is not your state, you can click on the state(s) above to see the Best Bank Bonuses being offered in your selected state(s). Along with beautiful parks, ski resorts, and lakes, Colorado has a lot of sweet bank bonuses to offer! While some of these promotions reach as high as the Rockies, others will come with... Keep Reading↠

The post Best Bank Bonuses in Colorado appeared first on Bank Checking Savings.

Bank Of The West Review: $150 Checking Account Bonus

by Tony Phan @ MoneysMyLife

Get the latest Bank of the West bonuses and promotions here. There are branches in the following states: AZ, CA, CO, IA, ID, KS, MN, MO, ND, NE, NM, NV, OK, OR, SD, UT, WA, WI, WY. Typical promotions for Checking accounts have been for $150, $200 and $300. They also oftentimes have promotions for their investment services […]

Alliant Credit Union Checking, Savings, CD Promotions & Offers

by Tony Phan @ MoneysMyLife

Find the latest promotions, offers, and updated rate information for Alliant Credit Union here. Alliant Credit Union is based in Illinois and offers personal banking products and loans to hundreds of thousands of members. Unlike many credit unions, Alliant allows anyone nationwide to join with just a $10 charitable donation to Foster Care to Success. […]

Rates Are Falling Just Like the Leaves

by @ YNB | The Bank That Makes Things Happen

Enjoy our super low loan rate of 1.912% APR on new autos for a limited time!

The post Rates Are Falling Just Like the Leaves appeared first on YNB | The Bank That Makes Things Happen.

Chase United TravelBank Card $150 Bonus + No Foreign Transaction Fee + No Annual Fee

by Danny Nguyen @ Bank Deal Guy

Compare this card with other travel related cards here. With the United℠ TravelBank Card, you can $150 in TravelBank cash after you spend $1,000 on purchases in the first 3 months your account is open. In addition to the bonus incentive, you will earn 2% in TravelBank cash per $1 spent on tickets purchased from United and 1.5%... Read More →

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Chase Premier Plus Checking Coupon Code

by Anthony Nguyen @ Bank Deal Guy

Need a checking designed to help you easily manage your everyday banking needs & earn internet? You can with the Chase Premier Plus CheckingSM Account. Need more than basic checking with online bill pay and mobile banking? Not only can this checking account earn you interest, but you’ll also save money on ATM fees and other select... Read More →

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Wells Fargo Business Checking Offer: $500 Promotion (Nationwide) *Targeted*

by Howard Young @ Bank Checking Savings

If you are a current business owner and has recently received a targeted offer, then now is your chance! Wells Fargo is currently offering qualified business owners nationwide a generous $500 bonus when you sign up and open a new Business Choice or Platinum Business Checking account by April 2, 2018. To qualify for the bonus, all... Keep Reading↠

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Best Bank Deals, Bonuses, & Promotions In Iowa

by Danny Nguyen @ Bank Deal Guy

Editor’s Note: Not your state? No worries, you can click on the state(s) above to see the Best Bank Deals, Bonuses, & Promotions being offered in your state. New to bank bonuses? No worries! See our Beginners Guide To Bank Bonuses. Amongst the sea of corn fields you can find some pretty nice bank bonuses. Here is a... Read More →

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Chase Coupon Promo Codes: $200, $300, $350, $500 (Feb 2018)

by Tony Phan @ MoneysMyLife

Chase Bank coupon codes, bonuses, and promotions for their Checking, Savings and Business accounts can all be found up-to-date here. Chase promotions are constantly updated throughout the year, so bookmark this page for updates. Many Chase coupon codes are periodically available. Current and past coupons include the following: $100, $150, $175, $200, $250, $300, $350, $400, $500, $600 and […]

Stay Informed by Email

by @ YNB | The Bank That Makes Things Happen

  When you sign-up for our e-newsletter you will receive important alerts and updates, new account offers and loan promotions, information about community events and more! Sign up now! Sign up to receive important updates, information about bank events and special promotions Enter Email If you have already signed up, you may enter your email […]

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