Can A Bank Seize Funds From My Checking For My Credit Card Payment?

April 11, 2023 by Poonkulali Thangavelu   Bankrate

A bank cannot typically take money from your checking account to pay off your credit card debt

There are exceptions to this protection. For one, if the bank gets a court judgment against you that doesn’t rule out this offset, it could take your deposited money;In case you risk falling behind on card payments, negotiate with the issuer and look into other financial options so your credit score doesn’t take a hit”

10 ‘Normal’ Money Habits That Are Actually Harmful

Andrew Lisa   Mon, April 10, 2023

Just because you get into the habit of doing something doesn't mean it's good for you -- and gnawed-on fingernails and cracked knuckles aren't the only proof. Some of the worst habits that tend to die the hardest show up not only on people's bodies but in their financial lives as well.

From the way people budget to the way they spend, save and invest, minor sins are easy to come by. Like so many bad habits, some people don't even realize they're making money-related mistakes at the time. Or they realize it but find it hard to change.

Risky Business

Adam M. Grossman  |  Apr 9, 2023  Humble Dollar

OPEN A FINANCE textbook, and you’ll find discussions of volatility and beta, value-at-risk, the Sharpe ratio, the Sortino ratio, the Treynor ratio and many other quantitative tools for measuring risk. But what should you make of these metrics? Are they an effective way to control risk in your portfolio?

These tools do have decades of research behind them, and they can be useful. But I believe they’re also incomplete. Worse yet, they can be misleading. William Sharpe, winner of the Nobel Memorial Prize in Economic Sciences, once commented that his ratio was being “manipulated” by investment marketers “to misrepresent their performance.”

Money is Everything

APRIL 8, 2023

I have a difficult time understanding the level of apathy that so many people have towards money. I’ve never held a “money is everything” attitude, but as I ponder such an audacious statement, I realize it’s not so far from the truth.

PIMD welcomes Physician On Fire as our guest post. POF is a personal finance website created to inform and inspire both physicians and our patients with insightful writing from a physician who has attained financial independence and the ability to retire early.

Apathy may not be the best word to describe others’ treatment of money. Ambivalence isn’t quite right, either.

How to Build a Strong Financial Foundation, Brick By Brick

APRIL 8, 2023   Financial Pilgrimage

Nothing may be more critical to your financial future than a strong financial foundation. However, if you’ve been on social media and ventured into finance, you’ve probably seen a few stories about overnight millionaires.

These people may have gotten rich from getting in on a cryptocurrency early, or others boast about how their online business generates six figures per month. I’m not saying there aren’t true stories of people that have been successful in these spaces. Though I am saying that the money has likely been made by the time these trends make it to the mainstream. That, or they are trying to sell you a product on the back end by giving the appearance of success.

Worry About the Right Things

Posted April 8, 2023 by Michael Batnick

“Do you know the difference between me and you?

Me: Happy, happy, happy, dead.

You: Worry, worry, worry, dead.”

– Catch-22.

The last few years reminded us that it’s more important to know how it feels to lose money than to make it. The only way to develop respect for risk is to experience financial pain. Once you’ve been burnt, you can develop a healthy anxiety around your personal finances.

Why Stealth Wealth Is the Best Way To Handle Your Money

GoBankingRates

Stealth wealth, as explained by Experian, is all about financial privacy. In today’s society, broadcasting wealth on social media or even just among coworkers and friends can make you a target for exploitation. Whether bad actors attempt to hack your accounts or loved ones come with their hands out, showcasing your earnings may have unfortunate consequences.

Dave Ramsey: 5 Ways To Become a Millionaire Fast

John Csiszar   Fri, April 7, 2023

The thought of “becoming a millionaire fast” appeals to nearly everyone, but it’s actually a rarity. While some speculators may get lucky and hit it big, more often than not those trying to get rich quickly fail — sometimes losing everything. But this doesn’t mean that becoming a millionaire is a Herculean task.

In fact, many pundits, including Dave Ramsey, offer a path to becoming a millionaire that — while requiring diligence — doesn’t involve any extraordinary effort, or taking on undue risk. While each person’s definition of “fast” may vary, following Ramsey’s tips can put you on the path to becoming a millionaire well before the traditional retirement age. Here are some of the most important.

3 Saving Tips Everyone Should Know

I’m a Financial Pro Who Works With Millionaires: Here Are 3 Saving Tips Everyone Should Know

Gabrielle Olya  Fri, April 7, 2023 GoBankingRates

Many high-net-worth individuals are especially adept at turning their money into even more money. While you may not be a millionaire (yet), many of their tricks of the trade can be used to boost your accounts, too.

GOBankingRates spoke with Vincent Birardi, a CFP and wealth advisor at Halbert Hargrove who works with many high-net-worth clients, to get his insights on the savings tips and tricks of millionaires.

Who’s Responsible?

Richard Quinn  |  Apr 7, 2023

CAN WE REALLY EXPECT Americans to be financially literate and act prudently with their money—when they can’t even return a shopping cart to where it belongs, or stop dropping litter wherever they stand?

I was in the grocery store recently and came out to find a shopping cart pushed into the side of my car. I was parked eight feet from the cart corral. Meanwhile, on my last trip to an ATM, the ground was littered with receipts. It looked like a blizzard, which isn’t what you expect in Florida. I couldn’t resist picking them up and looking at them. “Transaction denied” and “insufficient funds,” they read. I guess folks were annoyed at those messages and unaware they had no money in the bank. Surprise?