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
AOL.com
AOL.com
AOL Mail
AOL Mail
Video
Video
AOL Favorites
Favorites
AOL.com

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.

More From You

457 Comments
*0 / 3000 Character Maximum
Filter by:
Lady Anne January 26 2014 at 7:15 PM

We only use credit cards when we are shopping on line. Then we pay them off when the bill comes.
After nearly fify five years of marriage, we have learned a thing or two. Plus, we were both raised to use common sense, about finances.

Reply Flag as Abusive rate up rate down
OZZY January 26 2014 at 5:31 PM

If you have a credit card to use then great use it for the purpose of cash free transactions, but the best and smart ones pay the full amount and avoid the fees . If you cant do that then don't use your card. PERIOD... be smart

Reply Flag as Abusive +4 rate up rate down
goodlooking joe January 26 2014 at 5:19 PM

Thats not a bi-weekly mortgage payment. She really wants to say divide a one month mortgage payment by 12 then pay that on the bi-week. Or if we take her by what she said that means i would pay $6,270.00 a month!! Can't do that. I have no credit cards and just payed off my student loans. I took the $3,000 extra i have and instead of applying to my mortgage i put it in my 401k and I've done that for the last 3 years. Well i have made an average of 77% interest on my money. Thats per quarter. I hope Obama never leaves office !!!

Reply Flag as Abusive +2 rate up rate down
1 reply to goodlooking joe's comment
dfef12 January 26 2014 at 7:27 PM

you are wrong

Reply Flag as Abusive rate up rate down
1 reply to dfef12's comment
dfef12 January 26 2014 at 7:28 PM

divide by 2, 1200 mtg pay 600 every 2 weeks

Flag as Abusive +1 rate up rate down
nama holston January 26 2014 at 3:23 PM

Obviously the best way is to use CASH ONLY because the hackers are out in droves to scam you for as much as they can! It is not only bankers but the entire world is full of thieves who won't work at a real job, but will try to lure the unsuspecting and elderly into a "deal" which will bankrupt them.

Reply Flag as Abusive +6 rate up rate down
3 replies to nama holston's comment
iiguns January 26 2014 at 2:31 PM

They dont want you to know the money they lend you does not exist.

Reply Flag as Abusive +4 rate up rate down
cpenrod January 26 2014 at 1:44 PM

Don't trust any BIG bank. Find a local bank, or local credit union. And live within your means.

Reply Flag as Abusive +6 rate up rate down
1 reply to cpenrod's comment
luci January 26 2014 at 2:35 PM

one that they know you name when you need anything from them.

Reply Flag as Abusive +3 rate up rate down
Chef January 26 2014 at 12:02 PM

Paying off your mortgage loan is the best advice here. The money you will be saving is more than just about any other investment out there. Anything extra you can pay goes strictly towards the principal.

Reply Flag as Abusive +2 rate up rate down
1 reply to Chef's comment
luci January 26 2014 at 2:37 PM

adding a little every month, till you have more to add every month, when your plan to save is working

Reply Flag as Abusive +1 rate up rate down
lionfig January 26 2014 at 11:55 AM

What can you expect when you have had the Republican party in charge for much of the last 33 years starting with Reagan and the Republicans taking over the Senate in 1981. Reaganomics has killed the middle class and the economy the same as Republican policies lead to the Great Depression.

Reply Flag as Abusive rate up rate down
3 replies to lionfig's comment
Carolyn January 26 2014 at 11:18 AM

My best advice is if you don't have the money to pay for it, don't buy it - you really don't need it. I only use my credit cards so I don't have to carry cash and when I get home, I go online and pay them off. I don't even wait till the end of the month. I also use the cards that give me an additional amount back for using them. So essentially, I'm making money by using them.

Reply Flag as Abusive +7 rate up rate down
1 reply to Carolyn's comment
dfef12 January 26 2014 at 7:31 PM

no, you pay credit card fee up front. merchants should give discount for using cash.

Reply Flag as Abusive rate up rate down
rdcabe January 26 2014 at 9:52 AM

Credit cards should be outlawed.

Reply Flag as Abusive -2 rate up rate down
1 reply to rdcabe's comment
jjkrjw January 26 2014 at 4:56 PM

Credit cards are like money. It is not the credit card or the money that is the root of all evil. It is the LOVE of money and credit cards that are the problem. People who lack the ability to control their spending should not use credit cards.

Reply Flag as Abusive +1 rate up rate down
~~ 2592000

Voting...

More From Our Partners