Liam Johnson

Millennials Embrace This Effective Budgeting Strategy

Alright, let's jazz this up a tad! Picture a conversation with your best buddy over a coffee: — Millennials are Playing Hard to Get with Credit Cards at the Mall Wait till you hear this! Millennials, yep, those tech-savvy whippersnappers, are opting to leave their credit cards snug and secure at home when they venture out to the mall. Can you believe it? Ready for the actual science behind it? A recent poll by Cardtronics spottied that a whopping 71% of millennials are intentionally bidding adieu to their plastic pals to reign in their spending. It's a bit of a shocker, right? Despite the steady climb in digital payment methods and millennials being digital trendsetters, about 67% still favor cold, hard cash when shopping, while 73% believe cash is king when settling up with buddies. Not Just a Millennial Thing The wave of cash favoritism isn’t just blowing through the millennial crowd – other generations are also catching this cash-only breeze. Cash dominates in 79% of personal transactions, and more than half of consumers think cash is a cool way to split a restaurant bill. Curious to know more? Check this out, a piece on "How Paying With Cash Can Boost Your Savings and Happiness". But Why, Oh Why, the Cash Craze? The one place where cash is still the reigning monarch is at most brick-and-mortar retailers. In our beloved grocery stores, 43% of shoppers flash cash over cards and it's the same story in pharmacies. One masterstroke of cash is the ironclad security … Read more

Should You Switch to Neobank Startups?

Ain't Your Daddy's Banks: A Deep Dive into Chime, Current, and Varo Remember the good old days of free pens on chains at the bank, or lollipops at the drive-thru? Cute, but… what about getting your paycheck a couple of days early, or bouncing off costly overdraft fees like a Superball? Yeah, I thought that might get your attention. These are actually standard perks from financial technology companies like Chime, Current, and Varo, who’ve been stomping up the stairs to the big leagues in recent years. "Neobanks", they call 'em – spurring an evolution in banking with their eyes set on outstripping the banking big guns like Wells Fargo. Their appeal? Flexibility, control and a big neon sign saying "Welcome Y'all", aimed at middle-class Americans. Different to your parents' banks? Most definitely, and that's not by accident. Harvard Business School's very own Marco Di Maggio tells us the rapid growth of neobanks is all about people wanting something new from banking. With a growing distaste for traditional banking behemoths like Bank of America and JPMorgan Chase, especially among Millennials and Gen Z, it's no surprise these fresh-faced alternatives are all the rage. Lucky for us, every day's an all-you-can-eat buffet of modern banking choices, each tantalizing with unique features. To help you gorge on this financial feast, buckle up for a detailed comparison of Chime, Current, and Varo. Neobanks Pros and Cons So, let's cut to the chase – what can Chime, Current, and Var… Read more

Liam Johnson

Risk-Free Ways Savers Can Beat Inflation

Think beating inflation is like trying to win "The Hunger Games"? Well, guess again! It may not be as daunting as it seems. We are living in a golden age of savings accounts and fixed-income investments offering real yields. This means their annual percentage yield (APY) bulldozes over the current rate of inflation like a runaway snowplow. Now that, my friend, is rarer than seeing a dog walk on its hind legs! Whoever Said Safe Investments are Boring? Yes, I'm aware that interest rates for some savings modes have crept down since last year but, "don’t throw the baby out with the bathwater!" Experts are singing in harmony about the allure of safe investments. Why, you ask? Because real yields are still floating in the clouds. Need an example? Buckle up! The U.S. aggregate bond index, the big kahuna of high-quality, investment-grade bonds, is currently yielding 5.28%. And our buddies, the top 12-month certificates of deposit (CDs), are putting up a bit of a fight with APYs up to 5.25%. These rates run circles around the annual inflation rate of 3.5%, like they're in some kind of track and field event! Matthew Miskin, the brains at John Hancock Investment Management in Boston, points out that it’s been a long time since investors could pocket risk-free returns above projected inflation. For those nearing retirement or already basking in the retirement sun, it’s like a “money grows on trees” situation! The Divine Dance of Real Yields in 2024 Real yields can be your crystal b… Read more

Liam Johnson

Why Adults Still Use Personal Checks Today

Hey there, my fellow Dollar Scholars! Let me tell you a secret. Aside from my main gig as a 27-year-old writer for your favorite personal finance newsletter, I can also do pretty handy impersonations. Channels like Dave Ramsey, take cover! Every week, I set forth on a noble quest to unravel the mysteries of the green. Answers to questions like "What happens if 401(k) isn't my thing?" or "Am I part of the Fantastic 4 if I have 4 credit cards?" flutter in my brain, all day, every day. But I don't keep the divine wisdom all to myself. Nay! I share them with you all, summarizing the bits that'll keep your wallets heavy and minds lightweight. And oh boy, who wouldn't love some charming dog photos on the side! Before you jump in, don't forget to hit that subscribe button so we can keep these Wednesday word parties going strong! — This 27-year-old is stranger than fiction! If there's one constant in life, it's that we all age. Some like vintage wine, others like Ryan Reynolds. His "Deadpool" character makes as much sense to me as a vegan enjoying barbecue, but hey, who am I to judge? As I'm ripening into my late twenties, I like a plethora of unconventional things. You think tie-dye is a crime against humanity? I see it as a fashion statement. Crazy about luxury shoes? I’m wearing limited-edition sneakers covered in puppy prints. Reality TV your guilty pleasure? Try glass-blowing on Netflix! And don't even get me started on the ridiculous Star Wars sequel memes… In true … Read more

Liam Johnson

Should I Switch Banks for Higher APYs?

Alrighty, it's time to give this mega informative newsletter a make-over – fashioning it with pizzazz while making it more relatable to 'yours truly'! — Daily Digs from Dollar Scholar Welcome, money geeks! Your personal finance guru, Julia Glum, is here with her latest moolah memo for the modern Joe/Jane. Living with Truman, the Lazy Sunbather You know, my work-from-home setup is never lonely. Every time I go for a coffee refill, my roommate's cat is sprawled across the kitchen floor, blissfully soaking up the sun. All hail Truman, our sun deity of sorts! Winter? No problem. We humans shift his cushy bed around every half hour, just to keep it in the sunny patch. And the grateful feline? Eyes shut, warm and cosy, and completely unbothered (much to my envy!). And it hit me! Truman’s royal lifestyle is a lot like this newfangled trend of bank hopping. You know, people switching from bank to bank to get the highest annual percentage yield (APY) on their savings? Well, despite the Federal Reserve not making any big moves of late, it seems the super high APYs of top-ranking high-yield savings accounts are starting to dwindle. No wonder, 'rate-chasing', the relentless pursuit of the highest rates, is rearing its head. Should I Jump on the Rate-Chasing Bandwagon? Cicely Jones, a certified finance guru from Equitable Advisors, explains that moving your cash once from a regular savings account to a high-yielding one is a smooth move. For instance, the average savings APY is a… Read more

Liam Johnson

Chase Travel Card Now Offers $1,000 Bonus

Guess What? This Offer is No More! Come hell or high water, we love a good deal, right? Especially when it concerns travel rewards credit cards. Now here's the juice: the Chase Sapphire Preferred® Card, hailed as one of Money’s best travel credit cards, has stepped into the limelight with a jaw-dropping introductory offer. Remember when it was a mere 60,000 points? Well, those days are over! Welcome to the fabulous world of 80,000 points – that's right, an increase of 20,000 points! Feeling baffled? Concerned about the mathematics? It's simple, folks. These 80,000 points can be redeemed for a neat $800 in cold, hard cash, or – if you're a globetrotter – for whopping $1,000 in travel expenses. That's an extra $200 in cash or $250 for travel, all because of this increase. Not too shabby, huh? Can I hear the catch? Not really a catch, but there are some rules of the game to follow. The spending threshold remains the same. Here's the deal: you need to spend $4,000 within the first three months. Achieve this and you will bask in the 80,000-point glory. Now here's a fun fact: every point is worth a cent when redeemed as cash. But if you’re a seasoned traveler, the value of these points gets a sudden adrenaline rush. Thanks to the 1.25x rate via Chase Travel℠, when used for travel, these 80,000 bonus points can add up to a heady $1,000. We're talking expenses like flights, hotel stays, or even car rentals. So, as we welcome summer, this golden opportunity could be a game-chang… Read more

Liam Johnson

Best Business Line of Credit Options Compared

Got a Mega Plan for Business Expansion? You May Need a New Line of Credit! Have you been dreaming about your business soaring into new realms of success? Well, buddy, you may need a line of credit to turn those dreams into reality! By the end of this guide, you'll be a whiz on business lines of credit. So buckle up and let's dive into the beautiful, complex world of business lending, shall we? What the Heck is a Business Line of Credit? Let's play this straight: a business line of credit is like a safety net for your business. Instead of getting a lump sum of money all at once, like the lottery or a traditional loan, a line of credit says, "Here's some cash, use it when you need it." The beauty of it? You only cough up the interest for the money you use. Sweet deal, right? As long as you're spending on legitimate business shenanigans like payroll, inventory, and even those unexpected costs that pop up out of nowhere, you can utilize your credit line till the cows come home. If you're tickled pink and want to know more, check this out: what is a business line of credit. How a Business Line of Credit Breakdances A business line of credit waltzes around much like a business credit card, giving you access to funds—provided, of course, you keep up with regular payments. This is not a free-for-all, after all. There are a few things you need to keep in mind: Fees Alrighty, so you need to be aware of some potential party crashers called "fees." It's like your friend who shows … Read more

Liam Johnson

Should You Share a Bank Account With Friends?

Alrighty then, let's dive into this properly intriguing topic, shall we? Welcome to the Dollar Scholar Hello peeps! So, this here is a charming little piece from Dollar Scholar, where yours truly, Julia Glum, likes to break down the mysteries and conundrums of the financial world for you all. Don't want to miss a beat? Subscribe pronto and blend in with our vibrant community of over 160,000 Scholars and counting. Not shabby, eh? Sisters Before Misters, So How About Banking Sisters? Okay, me and my squad—we share everything. All things significant and insignificant, from clothes and chatter to yes, even our views on Taylor Swift’s latest rerelease (if it ain’t Reputation, I'm chowing down on my hat!). But say, how about we take this sharing business to the bank? Can we, should we, set up a joint bank account? Now, the thought isn't entirely original. Thanks to a TikTok video that's been going around where the user boldly declares that she splits her fortunes with her best mate. Shocking, innit? Now, I'm no stranger to financial fusion—I mean, lovebirds do it—but bank buddies? Sounds mind-blowing, even by our standards. But heck, considering the Venmo hassles we endure for rent, food deliveries, and those salvation-bringing Starbucks runs, this seemingly odd idea could possibly redefine convenience, right? Or not? When Friendship Crosses Over Inot Joint Banking Disclaimer: Content that followed has been sponsored by the fine folks at Discover® who’s pretty smug about thei… Read more

Liam Johnson

Rare $900 Credit Card Bonus: Limited Time

Whoops! You Missed It… Well, the clock has struck midnight on this one. Cinderella's coach has turned back into a pumpkin and this fantastically generous offer is sadly no more. Shake it off, these things happen. Time Was Ticking on a Generous Offer There was a ticking time bomb of a deal on one of the most generous welcome bonuses (calm down, it's just a metaphor) for business credit cards. The Ink Business Unlimited® Credit Card and the Ink Business Cash® Credit Card from our buddies over at Chase made a tempting proposition: an impressive $900 cash back if you spent $6,000 on purchases within the first three months. Crazy good, right? Just so you're keeping up, that deal came to its not-so-dramatic conclusion at 9 a.m. EST on Jan. 18. For comparison’s sake, these two no-annual-fee cards used to offer a solid but slightly less exciting $750 cashback bonus for meeting the same spending targets in a three-month window. So, you know, that's a difference worthy of eyebrows raised in surprise, maybe even a fist pump if you're feeling it. How Did the Bonus Work? So, that $900 sign-up bonus wasn't just some willy-nilly sum. It took the sophisticated form of 90,000 Chase Ultimate Rewards® points. Now, these aren't just good for making you feel like you're hoarding a dragon's treasure trove. You would have been able to redeem these points for statement credits, cash deposits, travel bookings, gift cards, and more through the Chase Ultimate Rewards® and Chase Travel℠ platforms. … Read more

Liam Johnson

Top 5 Military Banks and Credit Unions 2025

You know how it is when you’re serving in the military circles: you’re scouring different parts of the globe, relocating on a whim, and your need for constant, reliable access to your finances is as certain as the sun. As a service member or a vet, you don’t just want a bank; you need a lifeline that transcends geographical boundaries. The answer, my friend, is good ol’ military banking. With online banking channels and wide-reaching ATM networks, you can manage your assets in a jiffy, no matter where work takes you. So, what makes a military bank a keeper? The right one for you will have delightful extras like nude-to-none fees, convenient online banking features, and free-as-the-wind account transfers. The cherry on the cake are exclusive military benefits (think lower rates on loans and credit cards, and higher yields on savings accounts and CDs). Oh, and for all you veterans and family members feeling left out, these benefits are open for you too. Isn’t that splendid? Need some guidance? Our Top Picks for Best Military Banks of 2021 Navy Federal Credit Union – The King of the Hill PenFed Credit Union – Your Answer to High-Yield Accounts Security Service Credit Union – Got the Best Deployment Benefits on Tap Chase – The Best National Bank with a Heart US Bank – Where Exclusive Military Perks Meet Maximizing Returns BEST BANKS FOR MILITARY MEMBERS: DECLASSIFIED INFO Navy Federal Credit Union – Top of the Class, All Around Let's dive straight into it… Read more

Liam Johnson

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News Flash: Why Your Savings Account Interest Rate Is So Low Let’s rip the bandaid off right away: Your savings

Liam Johnson

Credit Union Seizures: Should You Worry? Let’s Break It Down We’ve sung the praises of credit unions before—heck, it’s almost

Liam Johnson

Welcome to Dollar Scholar—From MySpace to Money Moves Hey there, fellow financial adventurers! You’ve stumbled into Dollar Scholar, the personal

Liam Johnson

Why Do ATM Fees Even Exist (& How Can You Dodge Them)? Let’s dive right into my slight obsession: protecting

Liam Johnson

Is a High-Yield Savings Account Really the Best Place for Your Extra Cash? Let’s be real: when you spot your

Liam Johnson

OUR TOP 7 PICKS FOR THE BEST PAYING JOBS IN MAJOR BANKS With the banking sector rapidly leaping headfirst into

Liam Johnson

Hey there! Is your bank account balance looking a bit slim these days? If you nodded your head just now,

Liam Johnson

Silicon Valley Bank Collapse: What Happened—And Should You Worry? By now, even if you’ve been living under a rock (with

Liam Johnson

Now here’s a doozy to chew on: Are Twitter squabbles to blame for the dramatic downfall of Silicon Valley Bank

Liam Johnson

Facebook, Twitter, Instagram… Wells Fargo? Let’s face it: these days, tapping your banking app is right up there with scrolling

Liam Johnson

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