nb_cid nb_clickOther -tt-nb this.style.behavior='url(#default#homepage)';this.setHomePage('http://www.aol.com/?mtmhp=acm50ieupgradebanner_112313 network-banner-empty upgradeBanner
14
Search AOL Mail
AOL Mail
Video
Video
AOL Favorites
Favorites
Menu

Things banks don't want you to know

Things Banks Don't Want You To Know

Alexa Von Tobel, CEO of LearnVest.com, told show host Katie Couric all the things banks really don't want you to know - and also mentioned that 61% of the country is living paycheck to paycheck.

One of her best money-saving tips? Pay your mortgage bi-weekly!

Von Tobel also said that some bank tellers are actually salespeople in disguise -- so beware if they start talking about a new credit card.

Oh, and watch out for those 0% interest balance offers. The average American household has $9,000 in credit card debt alone, and if the debt isn't paid down quickly -- sometimes in as little as six months -- that interest will go up fast.

Von Tobel told 'Good Morning America' that another great tip is just writing down a financial plan.

Last but not least, use your debit card so you don't spend money you don't have. Von Tobel says if you're shopping online, credit cards are best for security.

Join the discussion

1000|Char. 1000  Char.
rmorrell200 January 24 2014 at 10:44 AM

Guess what else they dont want you to know,,,, 30% of bank tellers qualify for food stamps.

Flag Reply +1 rate up
rudniski136 January 26 2014 at 5:52 AM

Here is a little tip and you don't have to come up with an entire mortgage payment every other week. When you make your regular mortgage payment add a couple of hundred dollars and earmark it to be used to pay down the principle of the loan. By adding $200 a month to pay down the principle of my mortgage I ended up paying it off in half the time.

Flag Reply +4 rate up
Madam Butterfly January 24 2014 at 11:56 AM

Sounds like Mr. Von Tobel is a salesman for Debit Cards. I use a credit card with a maximum credit line of $1,000. If I need to go over my limit, I prepay and I'm set to go. With a credit card I am protected against fraud and protected from overspending. I even get rewards on my card

Flag Reply +4 rate up
2 replies
Bitter Twitter Madam Butterfly January 24 2014 at 12:01 PM

That's what my parents set up for me when I went away to college and it has worked very well.

Flag Reply 0 rate up
Mr. Ed Madam Butterfly January 24 2014 at 12:01 PM

Genius

Flag Reply 0 rate up
myfifiq January 24 2014 at 12:11 PM

People used to rob banks, now banks ROB people

Flag Reply +6 rate up
kusdomh January 24 2014 at 11:03 PM

dont use credit cards they are rip offs

Flag Reply +4 rate up
3 replies
rick52259 January 24 2014 at 12:15 PM

Banks don't want you to know about credit unions, sorry to late.

Flag Reply +4 rate up
1 reply
dbrockskk1 rick52259 January 24 2014 at 12:41 PM

too

Flag Reply 0 rate up
majorsujet January 24 2014 at 12:20 PM

I pay off my credit cards every month and every coule of years my wife and I fly to our vacations for free. Done it with Hawai to include a first time ever upgrade to 1st class on one leg, and also to Europe. If you watch how you spend money you can make the banks pay you. And, I'm not rich.

Flag Reply +6 rate up
5 replies
hlwade January 24 2014 at 12:34 PM

Gentem1ndare1. If you worked in the banking industry for 20 years, it must have been as a janitor. With your poor grammar, I doubt if you could have gotten any higher position. Perhaps you should investigate on-line courses in English grammar and spelling.

Flag Reply +1 rate up
Madeleine January 24 2014 at 10:08 PM

Not news.

Flag Reply +1 rate up
dreamz777 January 24 2014 at 9:44 PM

So, the the average American has $9000 in credit card debt? When I was in debt it was way more than that.

Flag Reply +1 rate up
1 reply
merstockgto dreamz777 January 24 2014 at 11:48 PM

We are an exception as we have no debt whatsoever. No mortgage, no credit card debt, no car payments. We do not spend what we cannot afford. Have been debt free for a very long time.

Flag Reply 0 rate up
aol~~ 1209600

Voting...

More From Our Partners