What makes America great? I know that there are many, many different opinions on this subject but to me it boils down to two HUGE advantages that make America awesome. One is the entrepreneurial and innovative spirit which is unmatched in the world. The American culture that rewards risk takers to build innovative, job creating and wealth creating companies is what makes our country financially rich. As equally important are the blessings of our geography, climate, access to oceans and abundant natural resources.
But because the economy is on everyone’s mind these days I think it is important to talk about how we can be better stewards of our hard earned financial resources first. Yep, I’m talking about cold hard cash and assets (stocks, real estate, gold, etc.).
In order to frame the work we are going to do this week correctly I want to pose a question: Why is it that you go to work? If you don’t have a job but are looking for one, why is it that you seek work? If you don’t have a job and need one, yet are not looking then buy this book and read it from cover to cover…THEN revisit this web page and answer the previous questions.
Anyways, the reason most of us work is because we need money to put a roof over our heads, to put food on the table, to provide our family transportation and access to healthcare, and ultimately many of us work so we can one day RETIRE and stop working. We all know that money is just a “tool” that we use in order to provide today for ourselves and loved ones but also we want to be able to provide in the future. When we do put away our hard earned money for savings and retirement let’s make sure we do not give it to banks that have, especially over the last 3 or 4 years, been terrible stewards of our money and trust. Yes, I am talking about the BIG NATIONAL mega banks. Many of us are mad about big banks and “Wall Street” yet still find ourselves doing business with these companies. That is just crazy. If you are mad, then lead through ACTION and take you money to another bank. Channel your anger and frustration into something that can produce real results.
I’ve got to come clean, though. I used to think it was cool to be a customer of a big mega bank. I liked the idea of being able to access an ATM practically anywhere in the country because MY bank was really, really big. When times were good, it seems my bank was good. But then when times turned bad, I realized REAL QUICK that MY bank wasn’t really too concerned about ME, my money, my phone calls, my questions, etc. It just seemed all they cared about was their fees and breaking promises on almost a daily basis. After a year of being abused (do we all have banking “Stockholm syndrome?”) with lack of customer service, constant changing of fees, new rules, and constant turnover and change of management I decided to call it quits. I took some of my accounts and moved them to a local credit union.
Guess what happened? I now have faith in the banking system again because I know I can walk into my local credit union and talk to someone who will treat me with respect and work to resolve any questions I have about either my business or personal accounts.
This week (January 8-14th) I will move my final account out of Bank of America and into a local credit union. I want you to join me. Building local banking relationships will not only provide you better peace of mind and service, but hopefully save you money and stress over the big mega banks. And, as a great advocate for consumer power Clark Howard would say, you can leave their “customer NO-service” in the dust.
Week # 2: January 8- 14th