Treat yo’ self

Sometimes, it’s OK — and even important — to splurge [ThePennyHoarder.com]( Thursday, February 7, 2019 On Saturday, thousands of people gathered to watch Punxsutawney Phil predict how the rest of winter will go. The famed rodent did not see his shadow, which by groundhog standards means spring will make an early debut — but the “Weather Prophet Extraordinary” is wrong about 60% of the time, so don’t think we’re out of the snowy, icy woods just yet. Today, we’re talking about the differences between banks, credit unions and online banking. First, this news… It Ain’t Over ‘Til It’s Over| While the polar vortex has passed and the groundhog has said his piece, there’s technically still a month and a half of winter left to get through. And even with the warmer (well, warmer than 50-below) weather, your car still needs all the help it can get. Check out [these important tips from the Car Care Council that will help keep it functioning at its best]( and avoid road emergencies. Treat Yo’ Self| Splurging isn’t always a good thing, but studies show the occasional planned splurge on experiences can help keep you sane and financially on track. Here’s [why it’s OK to throw down a pretty penny on activities and experiences sometimes]( — and how to save even when you’re treating yourself to the high life. Calling All Rockstars!| Remember when we announced our new on-site Penny Hoarder Community? Well, it just keeps getting better. We just rolled out a new monthly contest — the Member of the Month contest — and winners will receive a $25 gift card of their choice (options include Amazon, Target and Starbucks). You must be a member of the community to be eligible, and then it’s all about how many conversations you start, posts you like and interact with and how helpful and engaging you are in the community. So what are you waiting for? [Get in there and show us what a rockstar of a community member you can be]( The Spice of Life| Variety is the spice of life, but just like chili powder or cumin, it can sometimes be very overwhelming. For a long time, your options when it came to banking were limited to whichever bank had a branch in your town and the singular, local credit union. Now, with the advent of online banking, there are a whole lot more choices — and it can be difficult to decide where to keep your funds. Do you go for the nationally recognized chain with an ATM in every city? Or the credit union where the tellers know you by name? Or maybe the online bank offering a high interest savings account? Whether you’ve been at the same bank for years and it’s just not serving your needs like it used to or you’re breaking away from your parents’ preferred bank for the very first time (or you’re just ready for a change!), trying to decide between the different types of banks can be seriously confusing. So we did the confusing work for you and laid out the pros and cons of the three major types of financial institutions. [Here’s everything you should know about big banks, credit unions and online banking]( — plus nine tips on what to look for as you shop around. WORD OF THE DAY Federal Deposit Insurance Corporation (n): A government agency designed to protect consumers and promote confidence in the U.S. financial system by insuring the money individuals deposit in banks (for at least $250,000 per person). The FDIC directly supervises about 4,000 financial institutions and ensures they are complying with consumer protection laws like the Fair Credit Billing Act, the Fair Credit Reporting Act and the Fair Debt Collection Practices Act. The FDIC does a lot to help protect consumers, but it can’t take care of everything. Many people assume that because their bank is FDIC-insured, their money is protected from theft — but that’s not true. While the FDIC will reimburse you a certain amount should your bank go out of business, it doesn’t offer the same protections in the case of a criminal accessing your bank account and stealing your money. In that situation, the liability rests largely on you. We know you know that credit cards come with their own risks (like racking up a pile of debt), but you might be surprised to hear [about these common risks that can come with using your debit card, too](. The Penny Hoarder | 490 1st Ave S, Suite 800 | Saint Petersburg, Florida 33701 | United States [Unsubscribe]( from all email from The Penny Hoarder. Questions? View our [Privacy Policy](. Having trouble reading this email? You can [view it online](.