Sunday, August 31, 2008

[creditwrench newsletter] New Post/Thread Notification: Credit repair discussions

Hello,

Creditwrench has just posted in the Credit repair discussions forum of CreditWrench under the title of The Simple Dollar.

This thread is located at http://www.creditwrench.com/consumers/showthread.php?t=3292

Here is the message that has just been posted:
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Over the past month, I've been doing quite a bit of traveling - family-related trips, vacations, and so on. That basically means that I've been managing my writing and other professional obligations out of my travel bag for the most part.
How do I do that? How do I manage to keep up with my writing, keep adequate research materials with me, keep track of my ideas and ongoing projects, and manage all of it effectively enough so that I can sit down anywhere (http://www.peterandannies.com/) and get right down to business.
While figuring out how to write this post, I started by simply making a list of the little things that really add up when taken as a whole, and when I had them all written out, I realized that it might be really effective to just list them all. So, here are ten productivity tips I've found that help me keep my ideas and writing straight as a writer on the road.
*Get a good messenger-style bag.* This has made all the difference for me. Up until recently, I used a backpack as a travel bag and it would quickly descend into chaos, with items floating around all over the place in the bag, making me dig forever for the individual item I needed. Recently, I moved to a messenger-style bag, with a large single pocket for my laptop, a few magazines and books, and some papers, and a side panel with a ton of additional pockets. This has made traveling far easier than before.
*Utilize those pockets sensibly.* One challenge with having a lot of little items and a lot of pockets is that you forget what pocket you put your things in. What I've found is that putting stuff into pockets so that just a bit of the item is peeking out is really useful for finding stuff. When I open up the bag, I can see at a glance where my small notebook is, my pens are, my current reading is, my memory stick is, my USB mouse is, and so on.
*Use Backpack (http://www.backpackit.com/) to manage notes for projects and meetings and store to-do lists.* For simple personal to-do notes, I still use Remember the Milk (http://www.rememberthemilk.com/) (which does that job fantastically), but for collecting notes for work projects and making more complex to-do lists, I've fallen in love with Backpack (http://www.backpackit.com/). I can use it anywhere I have wi-fi access and it does a stellar job of storing all of the data I need in one place. I actually prefer it to most offline tools - plus, if my laptop has a hardware failure, I don't lose those notes or project ideas.
*Keep a pocket notebook and pen with you always - it's even more important on the road.* Without the familiarity of your normal work environment, it's very easy to lose ideas through the cracks. This makes the idea of a pocket notebook even more paramount. Keep it with you - along with a good pen - to jot down any ideas that creep into your head that merit any follow-up whatsoever. Then review your jottings once a day or so.
*Keep at least one item with you that inspires ideas.* When I'm at home, I have all kinds of books and other materials to help inspire my ideas. On the road, such items are unavailable to me. Because of that, it's vital for me to include at least one item in my travel bag that's not strictly there to aid as research material, but there solely to inspire my ideas. For me, it's often recent issues of magazines related to personal finance in some way - Consumer Reports, Money, The Economist, BusinessWeek, or something like that. If I need inspiration, I leaf through those and try to find ideas to riff on.
*Distinguish quickly between things that can easily be done on the road and things that can't.* Whenever I'm struck with inspiration, I have a tendency to want to start digging into a hot idea immediately. Of course, there are some ideas that simply don't work out of a travel bag. The key is to distinguish which is which as quickly as I can. I ask myself a few key questions: to do this well, does it require research materials I don't have? Are there supplemental materials (such as pictures) I'd need to create elsewhere? The key to staying productive is knowing what you can actually do in your given situation - and figuring it out quickly.
*… but don't abandon a great idea just because you can't do it right now.* What I do for those things is open up a document on my laptop, sketch down all of the details I can, then save it in a folder of things to look at when I get back to the office. A good idea is a terrible thing to waste, but so is chasing something that's really beyond your means to complete successfully.
*Make your work environment as conducive as possible - wherever you are.* For me, that means controlling the sound, and that means having a pair of very good headphones that cancel out external sound and only allow in what I want (usually calming music that helps me to write). For you, it might mean other things - a picture of your family or the right kind of beverage might be the key. Make sure whatever it is you need to make your work environment a success is in your travel bag if possible.
*Know where to find the things you need to work (such as wi-fi).* For me, wi-fi is essential to the work I need to do, so I made a master list of chains that give away free wi-fi (http://www.thesimpledollar.com/2006/12/27/ten-places-to-find-free-wi-fi-in-any-neighborhood/) to patrons, and I keep it in mind when I'm out and about. Because of this inventory, I often keep an eye open for Panera, Caribou Coffee, and Fazoli's when I'm traveling, with several other lesser options, and use those places as my "home away from home."
*If all else fails…* If I know I'm going to need a piece of information that's only stored electronically, I make a printed version before I go. I keep a paper copy of my schedule, key phone numbers, maps of each route I'll need to know, a to-do list, and other such materials so that if an electronic item stops working, gets damaged, or fails in some fashion, I'm not completely lost while on the road. This has saved me more than once.
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Saturday, August 30, 2008

Google Alert - (405) 684-9297

Unfair Debt collection Practices - a knol by Bill Bauer

405-684-9297 has been changed to a fax only line. The new voice contact number is (405) 237-2174 or 405-227-9423

Make money using this search engine instead of Google, Yahoo, MSN or others and get the same results plus you get paid for it. You are going to do the searches anyway so why not get paid for it?
http://www.scour.com/invite/Creditwrench


[creditwrench newsletter] New Post/Thread Notification: CreditWrench Resources

Hello,

Creditwrench has just posted in the CreditWrench Resources forum of CreditWrench under the title of {rss:FDCPA updates from Cornell University Law Library}.

This thread is located at http://www.creditwrench.com/consumers/showthread.php?t=3260

Here is the message that has just been posted:
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Friday, August 29, 2008

[creditwrench newsletter] New Post/Thread Notification: Credit repair discussions

Hello,

Creditwrench has just posted in the Credit repair discussions forum of CreditWrench under the title of The Simple Dollar.

This thread is located at http://www.creditwrench.com/consumers/showthread.php?t=3256

Here is the message that has just been posted:
***************
Before I got control over my spending, I used to splurge all the time on small things that I wanted.
I'd buy a new book (or three) every Friday in order to "reward" myself for getting through another work week.
I'd often buy a new CD or DVD whenever I received a paycheck.
Whenever I'd hit a personal or work milestone, I'd usually buy a video game as a reward for myself.
It was easy to justify these purchases. I worked hard and earned a good salary. I deserved some of these items, particularly after getting through some obstacle in my life - even the routine ones, like finishing a work week.
At first glance, this doesn't seem like that big of a deal, but when you step back and look at it from a wider perspective, it's clear how big this "reward splurge" problem really was.
Let's say I bought $25 worth of books each Friday. Let's also say I received two paychecks a month and bought a DVD for $15 with each one. And let's also say I'd buy a new video game once a month, for $50.
Right there, *$180 gone each month*. Boom.
Do that month in and month out for four years and *you've spent $8,640*. Just on silly little "rewards" for ordinary life accomplishments.
The amazing part is that *I know of people who are far worse.* One of my closest friends in my college years went on to buy a new video game every weekend (about $50 a pop) and about twice a month would buy a box of trading cards (about $100 worth). Another lady I knew used to spend about $200 on new clothes each Saturday afternoon - it was her way of "release" after a week of hard work.
This is the worst type of financial leak - unnecessary spending that's become a part of a routine and tied to a sense of accomplishment. Not only does it cost a lot of money over time, it also reduces the actual good feelings a person gets from the accomplishments themselves.
*One of the best personal finance moves I've ever made was breaking this habit.* I stopped buying things to "reward" myself and instead started putting that money towards repaying debt. I didn't let my reading down, either, because I started getting heavily into the local library and the amazing usefulness of interlibrary loans.
It's not a simple routine to change, though. Here are four tactics to use while breaking yourself of this costly habit.
*Find non-purchase methods to celebrate your successes.* Instead of heading out to buy something expensive, why not go home and have a nice romantic dinner with your spouse? Spend some time playing with your children, or spend some time doing something personally important and enjoyable. I often find a bigger positive rush and "rewarded" feeling from
*Always ask yourself why you're making a purchase.* If the reason revolves around a routine or a self-reward, that's a sure sign that you shouldn't be in the store. It's fine to occasionally buy yourself unnecessary things, but if they're tied to a part of your routine, that's dangerous and should be avoided.
*Break up the part of your routine that causes you to splurge.* If you find yourself stopping each Friday to pick up some sort of splurge item, do something else on Fridays that takes you away from the temptation. Take an alternate route to work on Fridays - or use Fridays to find a better optimal route to and from work (preferably one that doesn't take you close to the places you might stop). If you go out on Saturdays to shop, instead stay at home and find a personal project to work on.
*Keep an entertainment portion of your budget.* If you still want to splurge but want to control it, keep a portion of your budget for entertainment and make all splurge purchases come out of that portion.
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[creditwrench newsletter] New Post/Thread Notification: Credit repair discussions

Hello,

Creditwrench has just posted in the Credit repair discussions forum of CreditWrench under the title of The Simple Dollar.

This thread is located at http://www.creditwrench.com/consumers/showthread.php?t=3249

Here is the message that has just been posted:
***************
Image: http://farm1.static.flickr.com/83/213802790_2fabd6c045_m.jpg (http://www.flickr.com/photos/cats-eye-view/213802790/)My father has the most innate, natural grasp of mathematics of anyone I've ever known. He can't tell an equation from Greek, but when you back away from explaining things in terms of equations and instead talk about it conceptually, he understands intuitively a great deal of mathematics. Conceptually, he understands it as well as I do, and I took quite a bit of advanced math in college.
Not only that, he's incredibly quick to pick up anything. He can fix a radio, dress and skin a rabbit, read a Pulitzer Prize-winning novel, run a trot line, entertain a dozen people, and conduct a very interesting debate about politics, often all in the same day.
The kicker is that my father never had the opportunity to even complete high school. He quit because he had a sick father who was unable to work and three siblings who needed food on the table.
Every so often, I try to imagine him as a teenager. He made the choice to do what he needed to do for his family without skipping a beat, and he likely never knew or saw that he had the opportunity to do great things with his life. He had all of the tools he needed right between his ears, but fate dealt him a different hand.
*Bad Luck That Changes a Life*
Quite often, the only difference between the people we look up to and the people we look down upon are a handful of little events. A parent that cared a little more. An unexpected death. A bad test result with no positive reaffirmation to get up and give it another shot. A lost promotion. A hurtful comment at an emotionally weak moment. A flash of anger, by them or by someone else. A bit of peer pressure. The opportunity to make a connection with someone who can open a door.
Our lives are full of these little events, most of which are out of our control. It's those events - and how we react to them - that determine much of what we have in life, and what we work for.
*Hard for Some, Easy for Others*
Some people are "lucky" in that they wound up on the right side of most of the coin flips in their life. Others are "unlucky" in that some events in their lives led them down a path away from where their dreams might have taken them.
Take my father, for example. What might have happened to his life if he had completed school? Might he have met a teacher that inspired him or recognized his natural talents? That one moment in time - the sickness of his father and his caring for his family - changed his entire life. He wound up never really leaving the town he grew up in and before he knew it, he was married, working in a factory and as a commercial fisherman for his "side hustle."
What would have happened if he had stayed in school long enough for the math to click into place for him? What if a teacher sees that natural skill and pushes him to pursue it, making a few phone calls and getting him some scholarships that get him into the nearby university? His life follows a completely different path.
But his life - and his moral character - didn't lead him down that path. Instead of being a "lion of the community" and living in a nice house, he lives in the same small old house that I grew up in, one in sore need of repair in places. Instead of going to the Lion's Club, he has a beer with his friends at a picnic table. All because he had a hardship hit his life, and he made the courageous choice to give up his path and do what needed to be done.
Take another situation that pops into my mind. One of the most bright and cheerful and wonderful women I know, the third child of five, contracted polio as a child and, by early adulthood, was confined to a wheelchair and eventually required a great deal of equipment and medicine to even go through life. Through all of this, she's maintained a sunny disposition. Her dream as a child was to have a house full of children, but life didn't allow her to play that card. She has three beautiful sisters, all of whom had multiple children, and when you look back at their childhood and high school pictures, you see four equal young women, all with great opportunity in front of them. Three of them got to live their dreams, the fourth wound up with polio.
It's so easy to look around and see those who wound up with lower-paying jobs and a different social outcome and draw some negative conclusions about them. They didn't work as hard, or they didn't apply themselves, right? Only rarely is that actually the full picture.
*Never Give Up*
Most of you reading this site - and me included - are among the lucky ones. We've either not had many hardships in life or we've had enough positive luck to counteract the hardships.
But for those of you who have been knocked down by life, here are some lessons I've learned from the people in my life who have faced terrible luck and rolled through it to find whatever may come.
*Don't blame others.* If something devastating has happened to you personally, don't spend your time blaming others for it. *Your problems and challenges in life are not their fault.* I happen to be deaf in one ear, which means that in some situations I simply can't hear people speaking on my left side. This is not their fault, and blaming them for me not hearing their comment is foolish.
*Get back up and try again.* If you fail at what you're trying to accomplish or if life knocks you down, don't curl up into a ball and give up. Get right back up and give life another swing. I've watched many people give up on life because they hit a rocky patch - even after they came out the other side of it, they wallowed in self-pity and refused to get back up again. *The mistakes and bad breaks of your past have nothing to do with your present.*
*Don't be too proud to ask for help.* When something disastrous befalls you and you're having a hard time picking up the pieces, ask for help. Ask your family for help. Ask your true friends for help. They will be there for you when you need them, and they want to help you when the chips are down.
*Make your mind up about others based on who they are and how they act, not by how they look or what they own.* This is true for everyone. I'm reminded of a small company I'm familiar with. At one of them, the most naturally gifted person in the building is the janitor. He'll often trudge by a group working on a project together and, off the top of his head, suggest an amazing solution for it. He does it so often that many of the workers there actually seek out the janitor for input on what they're working on. But the company can't promote this man, oh no, they can't. He's a lowly janitor who doesn't have a degree. Even the people who ask him for help sneer about him behind his back.
As for me? If I were to start a competing business, that janitor would be the first person I'd want to hire. He wears shabby clothes, talks slowly, and pushes a broom all day, but underneath that he has tremendous gifts, ones that are often ignored because people can't get past their first impression.
*Jealousy does nothing more than drag you down.* It's easy to feel jealous of the successful person. We envy them and try to find explanations for how they found success while we did not. Doing that is a waste of time. Focusing on the fact that someone else had better luck than you did is time spent not focusing on the aspects of your life that you can control. Don't worry about the guy who just got promoted - worry instead about what you can do to snag the next one.One left a sweater sitting on the train
And the other lost three fingers at the cannery
Everything's so easy for Pauline
- Neko Case, Margaret vs. Pauline, from Fox Confessor Brings the Flood (http://www.amazon.com/gp/product/B000Y0F7GS?tag=onejourney-20)

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Monday, August 25, 2008

[creditwrench newsletter] Re: New Post/Thread Notification: Humor and more

I love this, I just got it a few days ago myself.....it's soo funny. 
 
-------Original Message-------
 
Date: 08/25/08 19:41:29
Subject: [creditwrench newsletter] New Post/Thread Notification: Humor and more
 
Hello,
 
robbieo11 has just posted in the Humor and more forum of CreditWrench under the title of I wish I could think this stuff up !!.
 
 
Here is the message that has just been posted:
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[creditwrench newsletter] New Post/Thread Notification: Humor and more

Hello,

robbieo11 has just posted in the Humor and more forum of CreditWrench under the title of I wish I could think this stuff up !!.

This thread is located at http://www.creditwrench.com/consumers/showthread.php?t=3212

Here is the message that has just been posted:
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http://video.stumbleupon.com/#p=i43vdf7a0j
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Sunday, August 24, 2008

Fwd: Google Alert - truth in lending



---------- Forwarded message ----------
From: Google Alerts <googlealerts-noreply@google.com>
Date: Sun, Aug 24, 2008 at 1:01 PM
Subject: Google Alert - truth in lending
To: egroupsusa@gmail.com


Google News Alert for: truth in lending

Ballot language on payday lending issue tells a tiny percentage of ...
The Plain Dealer - cleveland.com - Cleveland,OH,USA
Pricing credit with APRs has been the national standard since Congress wrote 1968's Truth in Lending Act (supported even by Strom Thurmond). ...
See all stories on this topic

Economic illusions
Pittsburgh Tribune-Review - Pittsburgh,PA,USA
Meanwhile, lending standards plummeted. The subprime time bomb became imbedded in the economy and financial markets. The ugly truth was hidden while leaders ...
See all stories on this topic

Ninth Circuit rules subprime borrower due no damages for lender ...
JURIST - USA
[JURIST] The US Court of Appeals for the Ninth Circuit [official website] on Friday ruled [opinion, PDF] that the federal Truth in Lending Act (TILA) [text] ...
See all stories on this topic

Groups push for more bank fee protection
Daytona Beach News-Journal - Daytona Beach,FL,USA
"Yet the banks that make these loans don't have to comply with Truth in Lending disclosures, which would inform consumers how expensive this form of credit ...
See all stories on this topic

Appraisers, Still Feeling Pressure
Washington Post - United States
... even though recent federal housing legislation toughens appraisal standards and the Federal Reserve's new truth-in-lending rules ban interference, ...
See all stories on this topic

Appraisers feel pressure to hit the high numbers
San Jose Mercury News - CA, USA
... and the Federal Reserve's new truth-in-lending rules ban interference, bribes or intimidation designed to influence appraisers' valuations. ...
See all stories on this topic

What bank's excuses really mean
Sydney Morning Herald - Sydney,New South Wales,Australia
... indifferent with the truth" in its representations to them and their understanding of the risks involved with the margin-lending agreements they signed. ...
See all stories on this topic

Why everything has changed for savers
MoneyWeek (subscription) - London,UK
By lending too much to good quality borrowers, they effectively turned them into subprime borrowers. Only a year ago, when in truth they must have known ...
See all stories on this topic

Russian maestro Gergiev performs in South Ossetia
The Associated Press -
The support of Gergiev, an internationally known cultural icon, seemed aimed at lending moral heft to Russia's case for war. In addition to being principal ...
See all stories on this topic

Foreclosure Misconceptions
InjuryBoard.com - Tampa,FL,USA
... either verbally or on Truth in Lending disclosure forms, and use manipulative language in both cases to get borrowers, some who already had excellent ...
See all stories on this topic

Google Blogs Alert for: truth in lending

I was gambling in Havana, I took a little risk
By Wine Dog
The way that the GFE's are set up, ARMS look squirrelly on them and really reflect Fiction in Lending, not Truth in Lending. There's plenty of blame to go around on this one. I'm just appalled at the lack of understanding of the issue ...
Pink Bunny Ears - http://pinkbunnyears.com/

Appraisers still face pressure to hit high numbers
By admin
"That has not changed yet," added Garber, even though recently signed federal housing legislation toughened appraisal standards and the Federal Reserve's new truth-in-lending rules ban interference, bribes or intimidation designed to ...
RelistrReal Estate News, Mortgage,... - http://relistr.com/real-estate

Create Personal Wealth Beyond Your Small Business, Part 4
By Perfect Domain(Perfect Domain)
If you have ever taken the time to look at either an amortization schedule or a Reg "Z" Truth In Lending Disclosure, it is frightening just how much you end up paying the lender for the privilege of using his money. ...
small-biz-advisor.com - http://www.small-biz-advisor.com/

A clear case of habeas corpus
By Payday Pundit
…the federal Truth in Lending Act (TILA) [text] does not provide for statutory relief for a lender's failure to conspicuously disclose certain information about a loan to the borrower and to give the borrower certain information before ...
Payday Pundit - http://paydaypundit.org

Truth In Lending Act Right To Rescission
By andre
Bongals knew all about Truth In Lending Act Right To Rescission; Penn-Armstrong Consultants destroyed him. Blue Walnut Democrat Newspaper destroyed Platon because he knew too much. All historical accounts were altered to conceal the ...
andre - http://andre.blognet.co.za


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Wednesday, August 20, 2008

Credit repair discussions

http://www.flickr.com/photos/stevecadman/270305763/ most longtime readers know, I'm a very happy customer of http://www.thesimpledollar.com/ing-offer.phpING Direct for both my primary checking account and my primary savings account.
Before I joined ING Direct, though, my primary bank was one of the largest banks in the United States, one that had a branch in the town where I attended college (I won't name them because of libel concerns, but I'm pretty sure you've heard of them). I stuck with them for a long time simply out of habit - http://www.thesimpledollar.com/2008/07/24/nine-ways-the-status-quo-bias-is-costing-you-money-and-how-to-turn-that-ship-around/the status quo bias at work - but when I started to get my financial life in order, I began to seriously look at the ways that my bank was costing me money:
+ My checking account didn't earn any interest at all. Just before I moved, they made a big deal about rolling out a 0.25% APY interest rate for the account.
+ The account also had a rather high minimum balance - $300, according to my notes. If you went below that minimum balance at any point during the month, you were dinged with a fee - $2.95 a month, if I recall correctly.
+ They also charged a monthly maintenance fee for a pretty standard online banking service. This fee was $7.95 a month.
+ The savings account offered only a 0.50% APY.
+ While there were a lot of ATMs in town that were fee-free, if you were in a town that didn't happen to have a bank branch, you got dinged hard with an ATM fee.
These "features" added up to a pretty major money leak, so I went hunting for a new bank. I identified some features I found important (a decent interest rate, free online banking, no fee nightmares) and eventually wound up with ING Direct as my primary bank. Later, I found other features that would be useful (good customer service, a local teller window, etc.) that ING did well in some respects and not so well in others, but they're still strong enough (and have treated me well enough) that I'm very happy as a customer.
In short, here are the factors I would look for when choosing a primary bank for my personal business, ranked in their order of personal importance. Please, in the comments, if you disagree with the ordering here, let me know why. Quite often, the importance of certain features varies depending on your life situation and experiences.
No (or very low) fees Before I switched to a bank, I'd want to know every fee that I'm going to incur during normal usage of the account. Maintenance fees are an absolute no-no, as they'll eat all interest I might earn. I also demand a huge network of ATMs that are fee-free, especially in my local area, but also availability nationwide. This is make or break for me - if I get dinged with a fee or two a month, it eats up any interest I might earn and likely also costs me, too.
Some common fees to look for (and avoid) include minimum balance fees, ATM fees, regular maintenance fees, fees for online banking, and excessive overdraft policies. Make sure you know about these fees before you commit to any bank with your account.
Free online banking and bill pay Online banking and bill pay are essential, and the services should be free, too. The ability to pay my bills just by typing in the amount and hitting "submit" not only saves on the cost of stamps, but makes money management easier, too.
Customer service and ease of use Some people tend to pooh-pooh the value of good customer service at a bank. Those who do are ones who have never had a crisis where funds were misdirected by another agency or a similar mess. In those situations, good customer service is worth its weight in gold. For me, I must be able to talk to someone during normal, reasonable business hours. 24 hour customer support is a definite perk, as is the availability of a local teller window.
For day to day use, a bank that's easy to access at all times without a bunch of hoops to jump through and a clear and easy to use interface makes all the difference. If you use your bank twice a week and a well-designed online banking interface saves you two minutes per session,]that's a savings of three and a half hours over the course of a year.
Generally, this is fairly hard to research when it comes to a bank, as most people generally just complain when service is bad but don't say much when it's good. Do some Google searching about the bank's customer service (like "ING Direct customer service") and see what you find out.
FDIC insurance This is almost a gimme for any bank in the United States, but it's still important, and it can be vital if your bank fails, as with the recent trouble with IndyMac. Just make sure that your account is FDIC insured before putting your money in.
Interest rates Almost every article I read online seems to greatly overvalue interest rates, even claiming that one bank is better than another one because of a 0.5% APY difference. In my view, that's nonsense. Look at it this way: 0.5% of $2,000 is $10. You can easily lose that much to fees in a month. Not having online bill pay can cost you that much in stamps. Poor customer service can cause all sorts of penalties and delays. In my view, all of those are far more valuable than a slight difference in interest rates. A competitive interest rate is required, but once you have that, the minor rate differences are trivial, especially when you consider how often banks alter their interest rates for promotions and in response to Federal Reserve moves. What's competitive? As of this writing, you should be receiving at least 1% on your checking and at least 3% on your savings. If you're not clearing that much, then interest is a problem.
A paper checkbook This is actually less important than you might think. I was very hesitant to switch to a bank that didn't offer paper checkbooks and, for a long time, I held onto my old checking account just to keep paper checks around. What I eventually found was that I simply didn't use them very much in the presence of online bill pay. I paid most local bills with cash or with credit cards and used online bill pay for everything else. In fact, after going for several months without writing a check at all, I'm about to close that account.
Putting This to Use
The choice of a bank can seem trivial to some, but it's a surprisingly important choice. From my own personal experience, switching to a better bank saved me about $40 a month in improved interest and reduced fees - that's $480 a year. Spending an hour or two now to find a better bank - especially if any of the factors above set off warning bells for you about your current bank - will definitely pay off over the long run.
Use the above checklist of features as a starting point. Decide for yourself which features matter the most to you and focus on them. Use Google to find information about the banks you might be interested in - and stick with reputable banks.
My Personal Experiences
http://www.thesimpledollar.com/ing-offer.php as my primary bank, but I dabbled with other banks for a period of time in order to try them out. Here are notes on my other experiences.
http://www.thesimpledollar.com/hsbc-bank-offer.php I signed up with HSBC Direct simply because their interest rate was higher than ING Direct (it usually runs about 0.3% higher than ING) and I was looking for a savings account to sock away my emergency fund. While it worked well as a place to simply drop cash and leave it, the interface was too clunky to serve as my regular online bank. I had repeated difficulties logging on (their system requires you to use a keyboard-like interface with your mouse that has some compatibility issues) and also had a very difficult time initiating and stopping regular balance transfers. It's a solid place to set up an emergency fund or a savings account for a specific goal, but it's frustrating to use as a regular bank.
http://www.thesimpledollar.com/wamu-offer.php" had the best competition for ING Direct in my experience, offering a consistently higher interest rate on the savings accounts (as much as 0.75% higher than ING), strong customer service, and free paper checks for life. However, their checking account offered no interest rate at all. If I were to carefully manage the account, I could juggle my way around that, but for me, it wasn't worth the effort, so I've just left the account idle. I have considered using it as an emergency fund, however, but as of yet I've stuck with the convenience of http://www.thesimpledollar.com/2007/07/18/how-to-set-up-multiple-savings-account-funds-within-ing/ at ING.
My local bank blows away the others on customer service. I can talk to a teller during normal business hours and get services like cashing in change for free, free and immediate check cashing, and immediate resolution on banking issues (I don't use this bank personally, but am involved with community organizations that do). Unfortunately, their rates are simply not competitive with some of the online offerings. I have considered opening a checking account there anyway just for the convenience of check cashing and change redemption.
Whatever you choose, choose wisely and carefully and do your own research. A poor banking choice can be a constant small drain on your personal finances, while a good bank can not only patch the leaky holes, but provide good service and drop some additional money in your pocket as well.