Comments on: What Happens if Your Bank Fails?

By: Your HELOC is NOT Your Emergency Fund

Your HELOC is NOT Your Emergency Fund — Mon, 29 Sep 2008 15:02:42 +0000

[...] fund that is cold hard cash. Even if the bank where you’re keeping the cash gets taken over, FDIC insurance will cover $100k per depositor (as long as the bank was FDIC [...]

By: The American 419 Scam | Cash Money Life

The American 419 Scam | Cash Money Life — Wed, 24 Sep 2008 14:35:45 +0000

[...] you can contact your senator and voice your opinion. Are you worried about banks failing? Learn what happens if your bank fails. Pay your bills on time, look for more ways to earn money, invest wisely, [...]

By: What Your Neighbors Are Searching For

What Your Neighbors Are Searching For — Wed, 17 Sep 2008 15:03:18 +0000

[...] I wrote about FDIC protection here. You shouldn’t bank with a bank that’s not FDIC insured. Since most banks are FDIC insured, there’s no real reason to go elsewhere. If they’re not FDIC insured and they offer you great interest rates, run the other way. Fast. [...]

By: Financial Risks And Personal Finance Risk Management, Part 2 | Moolanomy

Financial Risks And Personal Finance Risk Management, Part 2 | Moolanomy — Wed, 27 Aug 2008 13:04:10 +0000

[...] Protect your physical assets against theft or destruction with appropriate types of insurance — e.g., home insurance, car insurance, business insurance, etc. Moreover, limit your personal liability with an umbrella policy. If you have a business, choosing an appropriate business entity — e.g., LLC and corporation — can reduce your personal liability. Lastly, spread your savings across and investments across several financial institutions to take advantage of FDIC insurance. [...]

By: July 20, 2008 Link Payday | Uncommon Cents

July 20, 2008 Link Payday | Uncommon Cents — Sun, 20 Jul 2008 21:40:35 +0000

[...] finally, the ever brilliant Mrs. Micah asks What Happens if Your Bank Fails? I had Netbank fail not too long ago and while ING Direct is okay, it’s not exactly the same [...]

By: Weekly Round-Up Bachelor Edition

Weekly Round-Up Bachelor Edition — Sun, 20 Jul 2008 13:23:34 +0000

[...] Mrs. Micah asks, What Happens if Your Bank Fails?. [...]

By: Sunday Money Roundup - Where Is My Mail Edition?

Sunday Money Roundup - Where Is My Mail Edition? — Sun, 20 Jul 2008 12:59:04 +0000

[...] Micah fills us in on what happens if your bank fails. Imagine long lines and angry folks; but your money should be [...]

By: homeschoolingandfrugal.com » Blog Archive » Round-Up Saturday

homeschoolingandfrugal.com » Blog Archive » Round-Up Saturday — Sat, 19 Jul 2008 12:59:26 +0000

[...] Micah has a good read on What Happens if Your Bank Fails? Is your money safe? How many banks have failed? How much money does the FDIC [...]

By: 131 Star Bloggers and Their Best Posts | Catherine Lawson

131 Star Bloggers and Their Best Posts | Catherine Lawson — Fri, 18 Jul 2008 02:36:53 +0000

[...] a couple of her fabulous posts: How Can Foreigners Create Credit In The United States and What Happens If Your Bank Fails? Sharon Hess is an Interior Designer and some of her useful and informative articles include: Design [...]

By: Mrs Micah's Mom

Mrs Micah's Mom — Thu, 17 Jul 2008 00:13:16 +0000

Technically, we aren’t in a recession since the last quarter showed some economic growth. A 5.5% unemployment rate isn’t characteristic of a recession, either.

Recessions aren’t the only type of severe economic problem. I think it’s high inflation and lack of money for loans that make people recognize that the economy is in trouble and they translate that recognition into belief that there’s a recession.

Inflation is a bad problem in itself and it encourages bad decisions in personal finance. In the late ’70s and early ’80s, people tended to go into debt on the theory that if they waited, whatever they wanted would cost more than the current cost plus interest. I valued my freedom too much to fall into that trap, but a lot of otherwise smart people did.