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organizing your personal finances to find extra money

Sometimes financial problems can be solved relatively easily. I was struggling to make it from week to week until I learned that some financial organization could change my spending habits. If you can organize your personal finances, you will see exactly where all of your hard earned money goes. You will be shocked to see how much the morning coffee and donuts cost you each month. This blog will provide you with information that can help you get your personal finances organized so that you don't have to continue struggling from paycheck to paycheck throughout each and every month this year.

organizing your personal finances to find extra money

Three Things "Online Banking Only" Can Offer That Brick And Mortar Banks Cannot

by Clémence Moulin

Online only banks are the best kept financial secret. Why is that? Because brick and mortar banks do not want you to know how much better internet banks are at a lot of things. Although the benefits to online-only internet banks are not universal and you still have to shop around to get all of the benefits you want, these virtual financial institutions can still offer you more. Here are three things online only banks do better than brick and mortar banks.

Higher Interest on Your Hard-Earned Cash

While many physical institutions can only offer a fraction of a percent to one or two percent interest on your savings and checking, virtual banks can offer you an interest rate that is a point or two higher than that. They are able to offer competitive interest rates on your money, because they do not have the overhead that physical banks have. They do not pour their earned cash into the building of branch offices, parking lots or landscaping. Because they save so much money by not spending as much, they can pass that along to their customers in the form of extra earnings and higher interest rates.

Lower Interest Rates on Loans

For the same reasons that virtual banks can increase the interest rate on your savings and/or checking, they can also offer low interest rates on loans. Some of the lowest interest rates to be had on home or auto loans right now are from online bankers. You may be able to use this information to get a lower rate from a b&m (brick and mortar) bank, but the bank's offering probably will not come close to the rate the virtual bank offers.

Better Customer Service

Most online banks have enough self-service tabs now that customers can perform any range of financial tasks without ever having to ask a phone representative for help. You can transfer money between accounts, pay your bills through the online bank's site, send money to someone via wire transfer or via the internet, place money into investment accounts and buy virtual CD's, annuities and bonds. The only things you cannot do are remove charges and fees, and you have to dispute those over the phone or a chat session with a representative. (However, customer service is still better when dealing with an online bank associate or phone rep, because there are so many sitting in an office somewhere just waiting for people to call.)

For more informaiton, contact a professional online bank like Western Bank and talk to them about your needs and preferences.