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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

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Diablo January 24 2014 at 5:37 AM

Banks suck!!! Only out for profit. Try non-profit credit unions

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1 reply
joe.emery Diablo January 24 2014 at 5:59 AM

non profit my ass . credit unions get your money to.

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1 reply
philsun73 joe.emery January 24 2014 at 6:31 AM

I have a no interes bearing account with a credit union. I keep the account just solvent enough with a little cushion, just to keep a record of all payments made. It came in handy too. A med equipment supplier started harrasing me for payment i had already made by check. After a half dozen phone calls from a collection agancy, I pulled all of the data up and sent it to the Med Business with a note that I was being harrassed, and it caused emotional upset on my part. They didn't even send a letter of apology. But the harassment stopped.

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abenzrite January 24 2014 at 7:59 AM

Why do you think they call them "Bank Tellers?"

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bumpus5947 January 24 2014 at 7:33 AM

Banks/credit card companies are the robber barrons of 21st century. When is somebody from the banking industry going to jail for the financial meltdown they caused?
Apparently the money is still flowing (out of our pockets) to the politicians.
Not everybody has a short memory.
Bozo the Corzine is still in operation.

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1 reply
stevebewley bumpus5947 January 24 2014 at 8:09 AM

Here is what truly makes me angry about banks. They go to the Fed and borrow tax dollars at between 0% and 5% straight interest, then lend in mortgages (6 - 12% compound interest) and credit cards (10% to 46%(if you've ever missed a payment) interest). Then they tack on all the charges, ATM, low balance, even a teller charge.

The Politicians have let these behemoths be created and until they are broken down to smaller entities, and people start going to jail for fraud and theft, nothing is going to change, because the politicians (Obama, too) are in the back pockets of these guys (remember that the Government owns 25% of BoA).

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richie January 24 2014 at 6:55 AM

You can do that stuff if you have a job.

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madigan229 January 24 2014 at 7:22 AM

Does Mr. Obama read these comments?

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1 reply
jfusco316 madigan229 January 24 2014 at 8:08 AM

He doesn't have to he has all those books and Free healthcare for the rest of his sorry life.

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Bob January 24 2014 at 7:56 AM

Tellers have been sellers for over 20 years, they are on base pay and then incentives, I am a retired banker!

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mg8t7gn January 24 2014 at 7:26 AM

Want to read something really scarey about the what the banks do, research the Bank Secrecy Act.

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1 reply
rsayce11 mg8t7gn January 24 2014 at 7:55 AM

Woe be to the bankers !!!

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philsun73 January 24 2014 at 6:23 AM

Credit with Interest. Or even without Interest. When I was a lad, I thought that borrowing money was a nest idea.. My Pop explained to me that it was spending money before I earned it.. I made an early in my life loan with a finance company. It was nice when I got the money, But I was laid off on my job and I was out for about 4 months. When I went back to work, I went to pay on my loan, and was set back to learn that I wasn;t paying into principle. My Interset had accumulated compounded, and that was what I was paying. It created a severe hardship on me. And I was reluctant ever more to ever borrow money again. Instead, with each pay chech, I set aside what anounts to about 2 to 3 hundred each month, Once I got that to over six thousand dollars, I find that I can pay cash for what I want, and I keep replenishing It's not a lot of money, but, "Good Bye Interest Payments." And it's nice to have an emergency fund on hand.

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b2ran January 24 2014 at 6:17 AM

I've always thought there is a special place in Hell for bankers and a few other businesses. They literally have a license to steal. Who do they steal from the poor working folks, they mentioned, living paycheck to paycheck.

The working poor guy gets charged service charges because he can't keep enough in his account for them to make money off of. The working poor guy pays the highest loan interest in a lot of cases because he got in a bind and his credit isn't squeaky clean. The working poor guy might misfigure on his account and get charged exorbitant NSF fees. If the poor working guy can get one of their credit cards and slips up, he is their slave for life at maybe around 30% interest. If the working poor guy has a mortgage they won’t hesitate in taking what he has been paying on for years. They will say we are not in the real estate business, we just want payment. BS, they have stolen enough land since their beginnings to make another US.

When I hear of a bank robber getting away I don’t feel sorry for the bank at all. I hope that innocent employees never get hurt trying to hold on to the crooked bankers money for them. When it happens the tables are turned, but they just get reimbursed on an insurance claim. So, they win all the way around.

If you haven’t figured it out I hate banks. I don’t keep what little money I have buried in tin cans in the back yard, I have to use the necessary evil just like most of you.

They are on the bottom of the totem pole of scum occupations. I would even put the old Snake Oil salesmen several levels above the banks.

Where is Robin Hood when you need him? Today he could rob from the banks and give to the WORKING Poor. The government gives to the non-working poor.

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1 reply
Mac b2ran January 24 2014 at 6:39 AM

Robin Hood never did actually give anything to the poor. He was basically just a crook.

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Tom January 24 2014 at 7:20 AM

Two words? Scum Bags!

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