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Golden Inspirations |
"Be thankful for what you have — you'll end up having more."
- Oprah Winfrey
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Home  Featured Columnists Robert K. Heady The People's Money
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 Robert K. Heady
"The People's Money"
The late Robert K. Heady was a dear friend and a Featured Columnist for our website. He was a nationally-syndicated columnist who wrote about personal finance, banking and other subjects geared to boomers’ and seniors’ needs. His trusted column, “The People’s Money“ ran in scores of newspapers from New York to California.
As founding publisher of Bankrate.com, Mr. Heady pioneered the surveying of U.S. bank rates, fees and averages in nationwide news media such as The New York Times, The Wall Street Journal and Money Magazine. Bankrate.com, from which he retired in 1998, today reviews more than 4,800 financial institutions in 575 markets in 50 states.
We miss Robert very much but keep his past columns here as a valuable resource for our readers, as we believe his advice is as he is... "timeless".
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Not Hard To Switch Banks If You Follow These Tips
Let’s pretend you’ve decided to kiss your financial institution goodbye. You’re so ticked at Megabuck Bank that you’re going to pull out everything---passbook and Money Market Accounts, credit cards and other loans---and hand the business to Friendly Federal.
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'APR' Is Total Cost Of Credit---Almost
You can make a fast buck at the next party by betting that no one in the crowd can tell you what "Annual Percentage Rate" means in a bank advertisement. It's a safe bet. APR is one of the most confusing, complicated little varmints in the financial world, and you'll discover it most often in ads for credit cards, car loans and mortgages.
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Card Issuer's Tricks Include Higher Fees
You're increasingly being slapped, snookered and skewered by your credit cards, and the result is more money coming out of your pocket. It's as though the moguls of the credit card industry meet once a month at a secret tea ceremony to discuss ways to take more out of your hide cards charging 18 and 20 percent interest aren't already outrageous.
Used to be that you signed up for a card with a low-ball introductory rate of, say, 4 percent that danced upward to 14.9 percent after six months. You knew that was the card guys' way of roping you in, and you wised up to it.
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Watch Your Checking Costs; They're Rising Rapidly
How does this grab you? You have $629 in your checking account, but you haven't been doing a good job of balancing your checkbook lately. You write four checks in the amounts of $10, $100. $150 and $650, and all four happen to be presented at your bank on the same day. So what do most institutions in America do?
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Demanding Shoppers Get Best Checking Accounts
Guess where you’re being "nickeled and dimed" the most by your bank? The answer is checking.
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Beware "Debt Traps" of Home Equity Borrowing, Warn Experts
It usually starts like this: You receive a pitch in the mail from an out-of-state lender that says, “You can have an extra $75,000 within two weeks. Use that money for whatever you want!”
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Debit Card Pluses Far Outweigh Its Minuses
Besides your checkbook and credit cards, you‘re also carrying a debit card, aren’t you? More than two-thirds of American households already have one, and chances are they received a debit card from their bank without even asking for it. Fact is, debit cards are growing more than three times as fast as credit cards. In the race to create a paperless banking system, over 10 million families now use debit cards instead of checks at supermarkets alone.
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