The announcement of a $5-a-month debit card fee has provoked a consumer backlash. Did the big bank miscalculate?
This post comes from Richard Barrington at partner site MoneyRates.
Bank of America earned itself a barrage of customer complaints and negative publicity by announcing a $5-a-month fee on debit cards recently. Banks raise fees all the time, so why has Bank of America's decision touched such a nerve?
Here are four thoughts to help put this in perspective:
Here are 3 ways the late founder of Apple changed how we use the plastic in our wallets.
This post comes from Geoff Williams at partner site CardRatings.com.
True, if you look hard enough, and judging from all of the tweets, Facebook status updates, trade magazine articles, newspaper stories and television pieces, you could probably reasonably make the argument that the late founder of Apple had a profound effect on tube socks and dental hygiene.
Luckily, I don't have to flex my creative muscles too hard to think about how Steve Jobs changed credit cards.
Organizers of Bank Transfer Day are hoping to piggyback on the media interest in Occupy Wall Street.
This post comes from Brian O'Connell at partner site MainStreet.
Occupy Wall Street has dominated headlines for the past few weeks, with advocates and critics jaw-boning over whether it was government or Wall Street that fueled the financial crisis (here's a vote for both).
But even critics can't argue about the growth prospects of the "occupations" taking place in urban centers across the U.S. Now comes an offshoot of Occupy Wall Street that takes aim at banks where it hurts them most -- in their vaults.
There will be plenty of ironing out to do as you merge your pocketbooks.
This post comes from Chris Birk at partner blog Wise Bread.
My fiancé and I are in the waning days of what seems like the longest engagement in relationship history.
Considering that we're paying for our own wedding, my fiancé and I have talked a lot about finances the last two years. In fact, looking back on the process, that constant communication is actually one of the best things to come from footing the bill ourselves. We've had no choice but to make tough choices and talk honestly about where we were, where we are, and where we're heading financially.
Turns out not every couple is so lucky.
A Michigan city couldn't pay $4 million in past-due bills, so the power company took out most of the streetlight poles to settle the debt.
Updated Oct. 12, 2:07 p.m. ET
Things are so bad for the city of Highland Park, Mich., that the power company has removed 1,400 streetlight poles.
The action is "part of a settlement that lets the city avoid paying $4 million in unpaid bills going back several years," CBS Detroit reports.
The overall plan will cut the city's $62,000 monthly bill to $15,000, The Detroit News says.
This small city -- where the motto is "Return to Excellence" -- knows hard times. "50% enrollment drop has Highland Park schools in crisis," the city said on its Twitter feed.
But municipal money shortages are increasingly common these days -- with each struggling city facing its own set of financial challenges. Some examples:
Clubs raise prices, but less-publicized perks may offer extra savings.
This post comes from Kelli B. Grant at partner site SmartMoney.
As joining a warehouse club gets more expensive, would-be members may need to look a little further than multipacks of frozen pizza and bulk packs of paper towels to decide if the annual fee is worth it.
The recent changes at Netflix are enough to give many a once-satisfied customer whiplash.
Angry subscribers won a victory when Netflix aborted Qwikster, a separate service for mailed DVDs. On top of a recent 60% price increase, the move would have required customers to access two different websites to manage their DVD and streaming accounts.
So, are Netflix customers -- a very vocal group -- again enchanted with their once-beloved company?
That's from birth through age 17, and it doesn't include college. How does your spending compare?
This post comes from Miranda Marquit at partner blog Bargaineering.
Every year, the U.S. Department of Agriculture issues new statistics on the cost of raising a child from birth to age 18. The latest report says the average cost is $226,920 -- almost 40% more than a decade ago, CNNMoney reports.
That's for a middle-income, two-parent family with two kids in 2010. The numbers (.pdf file) change if you have a different income, or live in certain areas.
You can go to the USDA website and use its cost of raising a child calculator to get a more personalized view of the cost. According to my income and location, the USDA predicts I'll spend $26,463 a year on my son from birth through age 17. I'm pretty sure I'm not spending that much now.
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