Scottrade

I closed my Scottrade account in July. As usual, Scottrade have provided great service so the process was painless. I went into one of the branch office, told them I want to close the account. They made a call to my ‘home’ branch, they confirmed my name and address, and that’s it. Two days later, I received my check. No questions asked! Easy!

However, the fact Scottrade didn’t even asked for my driver’s license did made me a bit worry about their privacy and security policy. If say someone that knows my name and where I live, s/he could close the account and I wouldn’t know it till I received a check.

A Short Money How-To

Mastering all things money isn’t as simple as it sounds. Sure, saving a lot and spending a little is ideal, but that isn’t always realistic. As a general rule of thumb: make money, save money, and avoid payday loans if at all possible. But sometimes, a financial emergency happens, and what then?

 

The best way to avoid resorting to a loan is to save, save, save. With every paycheck and other source of income that comes your way, a portion should be put into a savings account (preferably one that accumulates interest over time). This way you have prepared for the unexpected, at least to some degree. Sometimes though, an unexpected expense goes beyond your realm of control, and there really are no other options. Now and only now should a payday loan come into consideration.  

 

Payday loans should only be considered in desperate times; like when an unexpected cost goes beyond your financial capability. Even then, money should only be borrowed if you are responsible enough to pay it back in a timely matter, and don’t make borrowing into a constant pattern. While payday loans can be life savors, using them for the wrong reasons can end up hurting you rather than helping you. The moral of the story: always weigh your options, and think ahead with your money.