Money in the Bank

A look at factoring, banks, and a recent Wells Fargo acquisition.

From my experience, I have seen banks attempting factoring but, generally, shying away from it because they realize that their one commercial or business banking scenario does not work well for this specialized type of funding. They do realize however, that there is a need for the funding offered in the cash flow industry and Wells Fargo Bank has, in fact, recently purchased one of our larger factoring companies!

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A penny saved is a penny to count at your local Commerce Bank.

How much confidence do you have in your coin-counting ability? We’re bringing this jug to Commerce Bank on Saturday. My local branch has a fancy counting machine, which I believe they call the Penny Arcade.

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Read more from this blogger: I Will Keep The Change, But You Can Count It

You don't know how much you need emergency money in the bank until the emergency.

I do not think I have fully appreciated the concept of an Emergency Fund until now. It’s been 2 months since I’ve brought home any income due to my little Worker’s Comp situation and my goodness a healthy emergency fund would have helped us tremendously!

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The best place to invest money is education.

Nothing else comes close to a solid, value for money, long-term investment like education. It may be a weekend course on Flower Arranging or it might be a Masters degree in Astrophysics – the costs in finance, time and effort will vary but education and training is always a priceless investment in yourself. If I have only one piece of advice to anyone its to spend your outer resources on your inner resources and spend your life learning.

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From a list of four ways to lose your money fast.

Bouncing a check. Some banks charge up to $30 for each bounced check (some also charge for checks that are paid when your account has non-sufficient funds). Monitor your account often to avoid such charges.

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Read more from this blogger: Quick & Easy Ways to Lose Money | BBB Consumer Education