Banks, Credit Unions, Fintechs - What's the Difference ?
The best financial institution for you depends on your individual needs and preferences.
✔ Banks. If you are looking for a traditional financial institution with a wide range of products and services, and branch locations, then a bank may be a good option for you.
✔ Credit Unions. If you are looking for a not-for-profit financial institution with lower fees and interest rates, then a credit union may be a better choice.
✔ Fintech. If you are looking for a financial technology company that offers innovative new products and services, then a fintech company may be the right option for you.
Earn some extra money in your spare time with apps that pay users in cash or gift cards for completing tasks, taking surveys, watching videos, or playing games.
Earn income, build credit, and stash cash away for an emergency. Ideally your emergency fund should have at least 6+ months of expenses.
Stage Two
Start investing in appreciating assets with a mix of stocks, bonds and real estate. Historically, stocks return about 7% a year, adjusted for inflation. Max out your 401(k) plan contributions.
Stage Three
You may be in your peak earning years so manage expenses, pay down debt and make sure you have a college fund for your children.
Stage Four
Assess your assets and make sure your portfolio is balanced to your needs because retirement is potentially a decade away. Increase fixed income, like bonds.
Disclaimer: Our goal is to provide the most relevant and current information. However, the information is for informational purposes only and is not intended to be personal financial advice.