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Being a “Money Man” (or Woman!)

Money Bag in Blue
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Everyone loves money. There’s no shame in denying it. Needless to say the finance industry is still a profitable one, even today. Business degrees and accounting degrees still flourish, and banking jobs still pay tremendously. So if you’re thinking of pursuing something in the industry, consider these three different types of careers and discover for yourself which one is more like you:

  1. banker
  2. bankruptcy lawyer
  3. debt consolidator

Which one are you? Consider the details. In a nutshell, a banker deals in money management. They are the people who keep your money organized—or rather they provide you the tools to manage your money while issuing the statements out with their own management of which to base your work off.

A bankruptcy lawyer is the result of poor money management! Hence money security. Whenever the debts get so large that there’s absolutely no way to get your head back above the water, pursuing bankruptcy is the only viable solution. You naturally need a lawyer to represent you and your security so you don’t get bitten later in life by debt collectors.

The third is simple: money safety. A debt consolidator runs a debt consolidation service and protects your assets by making it easier for you to catch up on your payments. When you get hounded by a few dozen different phone calls and bills, a debt consolidator rounds all those bills up into one low monthly payment as a settlement, essentially making it simpler and less stressful for you.

Obviously being a banker only requires a general degree. But a future bankruptcy lawyer must go through law school. Debt consolidators for the most part have general degrees, although you might find some accountants in the field. Here’s the question laid out for you again: which one do you think you are?A banker, lawyer, or consolidator?

Filed Under: Personal Banking

Choosing a Bank That’s Right For You

From large multi-national banks to online accounts, to local banks and credit unions, there are many places to manage your money. How do you decide?

It is not as difficult as it might seem. First, make a list of your needs. What exactly do you need from your bank? What will you do with your account? Will you deposit money periodically and watch it grow, saving for your nest egg or for savvy real estate investments like Jersey City apartments? Or, will you be moving money in and out of your accounts on a regular basis?

It is important to understand your banking behaviors before deciding on where to bank.

Next, consider how you like to bank. What are the times of day that you will be doing your banking? Consider the hours, and be sure your schedule works with the bank’s available hours. Research online and check into mobile access for 24/7 access to accounts. If you travel a lot, consider branch locations and how much you might need to access your accounts while on the go.

Know what you’re willing to pay for services; most accounts are not free, and maintenance fees will apply. Be sure you’re clear on how much it’s going to cost every month.

Then, ask around. Talk to friends and family, and find out where they bank. Find out if they are happy with their bank and what they do and do not like. Make a checklist of all of your requirements. Then, do research online, comparing banks, and make a short list of top contenders.

Walk in to local branches and inquire about account options. Compare all the banks, and choose the one that best meets your requirements for hours, access, interest rates, overdraft and other protections, loans, and investment options. Don’t rule out local banks, especially if customer service and a friendly feel are important to you.

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