In the old days, people could open up interest-bearing checking and savings accounts at Post Office. It was a way of providing cheap accounts to people of all stripe. Those accounts may be making a comeback.
According to this TIME article, nine million families in the United States are “unbanked” which means they do not have access to a checking out savings account at a bank or credit union. It also means that they have a higher risk of being the target of robbery and violent crime. To help people, there is an idea of bringing back the checking and savings accounts accounts offered through the Post Office.
Some want to have the government to subsidize accounts at private firms (like Wells Fargo, Chase, PNC, etc.) while others like the option of providing products and services to the people that need them directly through the government.
Bigger Than Your Block is pleased to announce a new FREE webinar for the parents of college students. Scholarship guru, and mom who used these strategies to get her daughter through undergrad with NO student loan debt, Gwen Richardson, will present College Basics for Parents: Helping your kid graduate debt free with the most dynamic financial education speaker working today, Shay Olivarria.
Want to read the books before the webinar? You can order a copy of both for $30 total, including shipping. 10 Things College Students Need to Know About Money sells on Amazon for $15 plus shipping on its own. If I were you, I’d run to get both for $30.