Pets bring joy, love, and companionship into our lives, but they also come with a unique set of challenges when it comes to keeping our homes clean and tidy. From shedding fur to tracking in dirt, pet-related messes can sometimes feel overwhelming. Whether you own a home in a wetter climate like Seattle, WA or an apartment in sunny Scottsdale, AZ, with the right strategies and a little extra effort, you can maintain a clean and pet-friendly place. In this comprehensive guide, we’ll explore effective cleaning techniques, practical tips, and useful products to help you keep your home spotless while enjoying the company of your furry friends.
1. Establish a regular cleaning routine
Maintaining a clean home starts with establishing a consistent cleaning routine. Create a schedule that includes daily, weekly, and monthly tasks. Daily tasks may include sweeping or vacuuming pet hair, wiping down surfaces, and cleaning litter boxes or pet bedding. Weekly tasks can involve mopping floors, washing pet toys, and sanitizing food and water bowls. Monthly tasks should cover more extensive cleaning, such as deep-cleaning carpets and upholstery or washing curtains and pet bedding.
2. Invest in pet-friendly flooring and furniture
Choosing the right flooring and furniture can significantly ease the cleaning process. Opt for pet-friendly flooring options like laminate, tile, or vinyl, as they are durable and easy to clean. Avoid carpets, which tend to trap pet hair and odors. When it comes to furniture, select materials that are resistant to stains and can be easily wiped clean, such as leather or microfiber. Additionally, consider using washable slipcovers or pet-friendly blankets to protect your furniture from pet-related messes.
3. Tackle pet hair with the right tools
Pet hair can quickly accumulate and cling to surfaces, making it a constant challenge for pet owners. Combat this issue by using the right tools. Invest in a high-quality vacuum cleaner specifically designed for pet hair removal. Look for models with powerful suction, specialized attachments, and filters that trap allergens. Regularly vacuum all surfaces, including furniture, rugs, and curtains. Additionally, use a lint roller or a pet hair remover brush to remove hair from clothing or upholstery.
According to Jomarie Booth & Melanie Deromedi of K9 Feline Master Cutz, “cleaning up the floors can be quick and easy, with a Hair Removal Rubber Broom. It works great on any type of flooring, we use it on carpet and tile. Our furry floors have never been so clean.”
4. Implement paw cleaning stations
Prevent dirt and outdoor debris from entering your home by creating paw cleaning stations near entryways. Place absorbent mats or rugs at the door, along with a bucket or tray filled with water to dip your pet’s paws in. “Use a patterned mat on the inside of your door ways. You won’t be able to see the dirt collecting,” says pet care providers Whitney and Keith from KW Walkers. Teach your pets to wait patiently while you clean their paws, ensuring that they are clean and dry before entering the house. This simple practice can significantly reduce the amount of dirt and mud your pets bring indoors.
5. Address and prevent pet odors
Pets can occasionally leave behind unpleasant odors that linger in your home. To tackle pet odors effectively, start by regularly cleaning your pet’s living area, including litter boxes, cages, or bedding. Use odor-neutralizing sprays or air fresheners specifically formulated for pet odors. ”If you know you’re going to be away for longer than anticipated, put down absorbent pads to prevent accidents on your carpets or floors,” states pet groomer Danielle Simms of HushPuppies Spa. Additionally, you can maintain proper ventilation in your home by opening windows or using air purifiers to keep the air fresh and circulating.
6. Manage litter box odors
Litter box odors can be particularly challenging to eliminate. Ensure you clean the litter box daily, removing waste and replacing litter as needed. Consider using clumping litter, as it simplifies the cleaning process. Place an odor-absorbing pad or baking soda at the bottom of the litter box to help neutralize smells. If possible, position the litter box in a well-ventilated area or use a litter box enclosure to minimize odors. “Keep cat litter contained,” says pet care professional Crystal Nuthall. “I keep the cat litter in a closet with a cat hole on the door. There is a motion sensor light and an air filter that is always running. I also keep a mat under the door to trap litter on both sides.”
7. Use pet-safe cleaning products
When cleaning your home, it’s essential to use pet-safe cleaning products to protect your furry companions from harmful chemicals. Opt for natural, non-toxic cleaning solutions or make your own by using ingredients like vinegar, baking soda, and lemon juice. Ensure you read labels carefully and avoid products that contain bleach, ammonia, or other potentially harmful substances. Regularly rinse surfaces to remove any residue that may be harmful to your pets.
8. Groom your pets regularly
Regular grooming sessions can significantly reduce shedding and keep your pets cleaner. “Brush your pets’ fur frequently using a pet-specific brush or a grooming glove to reduce shedding and dander,” says professional groomer, Juan Abreu of Kontota. This helps remove loose hair and prevents it from accumulating around your home. Additionally, trim your pets’ nails regularly to minimize scratches on furniture and floors. Bathing your pets as needed also helps keep them clean and fresh, reducing odors and dirt they bring inside.
Keeping a clean and pet-friendly home requires dedication, consistency, and the implementation of practical strategies. By establishing a regular cleaning routine, investing in pet-friendly materials, using the right cleaning tools, and prioritizing pet grooming, you can effectively manage pet-related messes and enjoy a clean living environment. Remember, a clean home not only benefits you but also contributes to the health and well-being of your beloved pets. Embrace these tips, adapt them to your specific needs, and create a harmonious living space where you and your pets can thrive together.
Elvira Rincon never loved the small apartment that sits between Sunset Boulevard and Dodger Stadium. Even 30 years ago, shortly after she arrived from a small town in Queretaro, Mexico, and moved in with her husband and five children, the one-bedroom unit built in the 1920s felt cramped.
But over the decades she made it a home, planting a sprawling container garden of flowers, fruits and medicinal herbs to cure her family of stomach pains and colds. Her husband poured concrete to make a small patio in the courtyard, where they hosted birthday parties nearly every month. At $495 a month the rent-controlled apartment allowed Rincon, her children and now grandchildren to build a life in the heart of Los Angeles.
That made it easy for Rincon, 59, to dismiss the first buyout offer. A developer who bought the complex and a neighboring one last year proposed paying her and her neighbors $22,000 to leave. She did the math and figured the money would be gone in about one year in a county where the median rent for a one-bedroom is $1,600.
The second offer to Rincon and her neighbors came in February: $55,000. It was more money than she and her husband, who works in a local nursery, could ever save on their own — and still not enough to stay in her neighborhood for long.
Soon after, the ownerssent workersto tear apart a storage shed she’d had for years and haul it away, along with a barbecue and many of her plants, saying they were health and safety violations. Rincon saw it as harassment meant to pressure her to go so the landlord could jack up the rent.
Like so many others, she and her family had one shaky foothold keeping them in a rental market that was otherwise soaring out of reach, and they felt that people with more power than them were trying to shake them off of it.
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The company says it was simply making changes requested by its insurance company and that it is listening to the concerns of residents, not trying to force them out.
Even so, Rincon and her neighbors are on edge, unsure what to expect next and asking themselves whether they still have a place in L.A.
“There are times when I feel desperate,” she said. “I get frustrated. And I tell my husband, ‘Let’s just go. Let’s just go.’ ”
In a city faced with a housing and homelessness crisis, where many renters pay more than half their income to live in overcrowded, aging homes, tenants like Rincon have what many others long for: low-cost housing.
Though city and state officials are desperate to create more of it, developers are simultaneously reducing affordable units by buying out longtime rent-controlled tenants with cash-for-keys offers and renovating old buildings into pricey new apartments or condos. Many residents quietly accept the offers and leave. Others try to hold out, knowing that taking the money probably means leaving their communities or facing rent that’s double, triple or more what they currently pay. Sometimes, tenants say, that leads to harassment or pressure campaigns.
The city has adopted policies meant to protect tenants of rent-controlled buildings from being forced to accept buyout offers or being evicted for not accepting.
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In some cases, landlords are required to offer to tenants a base amount for relocation — which ranges from about $12,000 to $23,000 for long-term renters. At times, owners offer more than that. But for tenants with very little income or credit, the money may not go very far once the sky-high rent of their next apartment is factored in.
City leaders have passed rules against harassment. But advocates say the rules lack enforcement, and plenty of tenants say harassment happens anywaywith little recourse.
Rincon arrived in Echo Park in the mid-1990s, fleeing a severe recession in Mexico that left her family’s farm deeply in debt.
Her first home in the U.S. was in the same apartment complex where she lives now, just across the common area, in a unit she shared with her brother-in-law, Pedro Villegas, her husband and others. Three decades later, Villegas still lives in that apartment, paying monthly rent similar to Rincon’s, whose monthly payments have increased twice over the years to $640.
Despite language barriers, Rincon became close with her neighbors, who include an 80-year-old retiree, a nursing student, her mom and brother, and a Cambodian refugee.Their kids often served as translators.
They’ve watched out for each other’s children and grandchildren, fed each other’s pets and shared lemongrass and guavas from their gardens. Though Rincon doesn’t care for the loquat tree that grows in a corner of the property, she keeps watering it because her neighbors love the fruit.
“We’re more like a community. We have been for years,” said Virginia Watson, 80. “We all know each other. We talk. We watch out for each other. It’s very unusual for L.A. because in other places I’ve lived everybody’s kind of anonymous, in their own little cubicle.”
Once Watson retired and began living on a fixed income, she was able to stay in her home because the rent was manageable. The same was true for Rincon and her family when she injured her back and stopped working.
Villegas’ four children have lived their entire lives in the complex, roaming the hills of Elysian Park and riding their bikes to Echo Park. He works at a laundromat on Sunset Boulevard, a short walk away. His youngest is now a junior at Ramon C. Cortines school downtown.
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Like Rincon, heknew the $55,000 offer wouldn’t last long in his community.
“The cost of rent is just too difficult,” he said. “The money doesn’t go far.”
Watson lives in a studio apartment adjacent to Rincon’s. She’s been there for 20 years, lives on Social Security and a small retirement income and pays $529 a month. When she’s looked online for other studios in the neighborhood, the most affordable cost isnearly $1,500 a month, an amount that she said would take about three-quarters of her income.
She might have considered the offer to leave if it was affordable to move in the city, she said.
But “rent is really, really high in L.A. I don’t know how you would manage for any length of time,” she said.
On Nov. 8, a few months afterWatson, Rincon and their neighbors decided not to take the initial $22,000 offer to leave, the property owners, Lilac Development LLC, served Watson with a three-day notice to pay or leave, saying she had not paid her rent for the month, though she says it was paid.
Watson reported the incident to the housing department, which investigated and found the notice in violation of city code for failing to provide proper information under COVID-era tenant protections, according to public records.
One month earlier, the owners served another resident with a three-day notice to pay or vacate the property, saying they owed $86.
In that case, the housing department found a “potential violation of the Tenant Anti-Harassment Ordinance,” records show.
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In both cases, housing officials wrote letters to the owners, explaining the law.
Watson and her neighbors see this and other actions, including the workers who went to the complex twice in March, tore down Rincon’s shed and hauled away her plants, as a pattern of harassment meant to pushthem out of their homes.
“I wake up after dreaming that I’m in a battle with landlords, big companies,” Watson said.
Recently, she packed up many of her belongings, assuming she would soon be out of a home, and she has kept them that way.
“I don’t unpack them because I don’t know how long I’m gonna be able to be here,” Watson said.
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Rory Anglin and his girlfriend, Jenna Loredo, are the newest residents of the two complexes, having moved in four years ago. They pay $1,236 a month for their one-bedroom, which Anglin sees as “the last of the good rents in L.A.”
When he told his mom in Mississippi about the $22,000 offer to leave, she was stunned at the amount.
“In Mississippi, that does sound like a lot,” Anglin said. In L.A. it most certainly does not.
Even so, Anglin said they were willing to consider taking a buyout until they felt a harassment campaign against his neighbors had begun.
“The end game for me is ‘leave us alone,’ ” Anglin said. “If we decide we want to move, we’ll move. But before we do, I gotta make sure all this stuff stops. It has to stop.”
If there’s a silver lining, Anglin said, it’s that the neighbors have become even closer in the last few months, forming a tenants’ association and strategizing together to push back against any harassment.
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Sara Rose, a property manager for Lilac Development LLC, told The Times that although the company initially offered cash for keys in order to “try to get tenants paying market value,” the company was no longer pursuing that strategy and would focus on “making the property habitable for current tenants.”
The company is not trying to evict anyone, Rose said.
“It’s not something we would take further action on if it wasn’t appropriate to do so,” she said.
Rose also said Lilac Development sent workers to haul away Rincon’s shed, barbecue and plants after its insurance company “advised there was certain work that needed to be done” to get the property insured.
They plan to inspect each property to figure out what needs to be fixed. In April, a city housing inspector found several conditions affecting the “health and safety of the occupants” in Rincon’s building and issued an order to fix the problems, which include damaged plumbing, fences and paint, by May 11.
Residents say there is a long list of problems beyond what that inspection revealed: leaking ceilings, mold, broken heaters and damagedflooring.
“I think based on the feedback we’ve received so far there’s no interest from the residents” in cash for keys, Rose said. “If they are interested and they approach us, it would be something we’d be willing to discuss. We don’t want to continue reaching out on something they’ve made clear they’re not interested in.”
Rincon said the first she heard about the change in plans was from The Times.
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For a long time now, she and her neighbors have felt as if they were in a state of limbo, waiting for an eviction notice or the return of workers tasked with hauling away more of their things. Like Villegas, she has seriously considered returning to Mexico, but her husband tells her they could never leave their children and grandchildren.
There was some relief hearing that the company would focus on making their home more livable rather than on getting them to leave. But she was also skeptical.
Payday loans are also called cash advance loans, deferred deposit loans, post-dated check loans, or check advance loans. They are short-term, high-interest loans. People who use these loans tend not to have access to other types of lending, and this is a last resort to get them through to the next paycheck.
Many states consider these loans predatory because of their high interest rates and financing fees. Some states place caps on the fees and interest rates or ban this type of lending completely.
Read on to find out what a payday loan is, how they work, and other options for those who need a short-term loan or cash advance.
What Is a Payday Loan?
Payday loans, also known as cash advances, are high-interest, short-term loans, typically for $500 or less. They are notorious for having very high interest rates and fees. There are few payday loan requirements, but borrowers typically need to be over 18, have a checking account in good standing, and show that they earn a secure income.
Consumers can find these types of loans through online lenders, apps, and local brick-and-mortar merchants. The loan amount is typically paid back by direct debit once the borrower receives their next paycheck. Alternatively, loans may be secured with a post-dated check.
How Does a Payday Loan Work?
Consumers fill out an application with a lender and show proof of identity, a recent pay stub, and a bank account number if required.
Borrowers have to secure the loan with a post-dated check or agree to have the funds debited from their account when they are paid, usually in two weeks. Loans are usually between $50 and $1,000, and funds are deposited within a day or two. Borrowers can also receive cash.
People with bad credit and access to better financing tend to use these loans to help them get by temporarily. However, payday loan problems are well-known: High interest rates and exorbitant fees can trap someone in spiraling debt if they cannot repay the loan on time.
The Consumer Financial Protection Bureau states, “More than four out of five payday loans are re-borrowed within a month, usually right when the loan is due or shortly thereafter.” Borrowers then face even higher financing fees and interest rates compounding their debt load.
Many states place caps on the interest rates and fees charged for payday loans; some states, such as New York, have outlawed them completely.
What Are the Requirements for a Payday Loan?
Most working adults qualify for a payday loan. Here are the most common standards.
Age
Borrowers must be at least 18 years of age.
Proof of Income
Applicants have to show proof of income, such as a pay stub.
Citizenship
Consumers may have to show proof of U.S. citizenship.
Bank Account
Borrowers need to have a bank account that is in good standing.
Payday Loan Interest Rates
Depending on the state, interest rates for payday loans can carry a 400% annual percentage rate (APR) or more.
In states that cap interest rates on payday loans, lenders may instead charge a fee that is a percentage of the amount loaned. Finance charges can be between $15 and $30 for each $100 borrowed.
Payday Loan Amounts
Payday loan amounts are usually $100 to $1,000. In some states, a borrower is allowed only one payday loan at a time. Other states, like Texas and Nevada, offer unlimited payday loans for customers.
Alternatives to a Payday Loan
Rather than take out a high-interest payday loan, there are better options for people in a precarious financial situation.
Credit Cards
If the borrower has a credit score, using a credit card is a safer bet than a payday loan. The average credit card interest rate is around 22%, while payday loan interest can be over 400%. However, if the borrower needs the cash to pay bills such as rent or utilities, that is often not possible with a credit card.
Cash Advance Loans
A cash advance loan puts cash immediately into your bank account. These loans are offered by online lenders, such as Earnin or PayActiv. These companies don’t charge loan financing fees but ask for “tips.” So, a borrower might tip between 5 and 15% of the advance. These apps are often marketed as payroll benefits, and they charge membership and service fees.
TSP Loans
A TSP account is a tax-deferred retirement savings and investment plan that offers Federal employees the same tax advantages as a 401(k) retirement plan. If you have a TSP retirement account, you can take out a loan from that plan without having to pay tax or penalties. However, you must pay the amount back to the account within five years with interest (which will be much lower than the interest on a payday loan).
Personal Loans
For consumers with a good credit score, banks and online lenders offer unsecured or secured personal loans. Unsecured loans are not backed by any collateral and will have a higher interest rate than a secured loan, but not as high as a payday loan.
Unexpected expenses can be paid for with a personal loan and at a lower interest rate. Many people take out personal loans to pay off credit card debt because the interest rate on a personal loan is less than the interest rate paid on their credit card debt. Getting approved for a personal loan isn’t hard if you have good credit.
Loan payback terms can be between two to seven years, with loan amounts typically between $1,000 and $50,000. If you manage the payments on a personal loan responsibly, you can build up a strong credit history. That is not the case with a payday loan, which is not reported to credit rating bureaus.
Recommended: What Is a Personal Loan?
The Takeaway
Payday loans are short-term loans that cash-strapped consumers use to get by until their next paycheck. The borrower is expected to repay the loan on their next payday, or they may submit a post-dated check. Interest rates are extremely high because of the risk to the lender that the borrower will default. Unfortunately, this is often the case, and borrowers can find themselves spiraling into debt as interest and fees accumulate. For this reason, many states have banned payday loans.
Payday loans are probably the worst option for quick cash. But a SoFi Personal Loan offers fixed, competitive interest rates on loans from $5K to $100K. And there are no fees ever.
SoFi’s Personal Loan was named NerdWallet’s 2022 winner for Best Online Personal Loan overall.
FAQ
What are the requirements to get a payday loan?
Most working adults qualify for a payday loan. A borrower needs to be 18 or over, show proof of income (a paystub) and citizenship, and have a bank account.
Is proof of income a requirement for a payday loan?
A lender requires proof of income because they want to know you have the means to pay the loan back. A recent pay stub or similar documentation is typically enough.
Is taking out a payday loan a good idea?
Basically, no. A payday loan should only be used as a last resort, and if you are sure you can pay back the loan in two weeks. Even then, the interest you will pay will be much higher than a cash advance or a short-term loan from an online lender.
SoFi Loan Products SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender. Non affiliation: SoFi isn’t affiliated with any of the companies highlighted in this article. Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners. Disclaimer: Many factors affect your credit scores and the interest rates you may receive. SoFi is not a Credit Repair Organization as defined under federal or state law, including the Credit Repair Organizations Act. SoFi does not provide “credit repair” services or advice or assistance regarding “rebuilding” or “improving” your credit record, credit history, or credit rating. For details, see the FTC’s website . SOPL0322008
I’ve dropped a rather obscene amount of money on bodywork in the last few years. I’ve had an evolving team of chiropractors, massage therapists, and acupuncturists. I’ve bought books on physical therapy exercises. Some things have worked, others have not. In the end, the pain always comes back.
I have chronic shoulder pain. My arms also frequently go numb in the middle of the night. I don’t mean they tingle, I mean sometimes I literally cannot move my arm. I have to use my functioning hand to reposition it and get blood flowing back into the limb. It’s kinda scary.
Two (Life-Changing?) Questions
When my shoulder bothers me enough, I usually get a massage to alleviate the pain. It’s a temporary fix — I know a 60-minute massage can’t cure a chronic problem that’s probably caused by structure and daily habits. But recently a new (to me) massage therapist asked me two questions that no one else had asked. First, she asked if I grind my teeth at night. Yes, I have in the past, and I have a TMJ (temporomandibular joint) disorder. She firmly suggested that I started wearing my night guard consistently, and in the past five days the pain has gone from a constant ache to a mild annoyance.
The second question she asked: “How old is your mattress?” Oh, man. So old, I didn’t want to tell her. The mattress my husband and I sleep on for (ideally) eight hours every night is 11 years old. I know it’s not in good shape. I just never thought it would make that much of a difference, but then, I never would have guessed that a night guard would, either. “You should think about replacing it,” she said. “Even a cheap new mattress is better than a worn-out one. One of my clients bought a $600 mattress from Costco and her back pain went away.”
The Research Begins
I know you’re probably thinking that a new mattress should have been an obvious solution. But after so many years of varying diagnoses, x-rays showing scoliosis (one chiropractor called it “severe,” another disagreed) and other spinal issues, I thought the pain was a given, something I’d have to learn to manage. I also didn’t realize just how old our mattress was.
I started my mattress search in my usual way, by reading mattress-buying guides like the one J.D. wrote a few years ago. (Interesting tip: According to Consumer Reports, you’ll know in 15 minutes if a mattress will be comfortable: “Panelists who took beds home for a month-long trial rarely changed the opinion they formed after the first night. On the whole, their opinions were the same as those of our in-store testers.”)
But I also had some other concerns, such as off-gassing. Most mattresses and box springs are coated in a mixture of fire-retardant chemicals, formaldehyde, glues, stains, and coatings, all of which release gasses into the air. There are a lot of parenting sites that recommend organic mattresses for baby’s crib, but the hard, scientific data is nonexistent or vague in most of those articles. Here’s what I was able to find:
The most widely used flame retardant, PBDEs (polybrominated diphenyl ethers), are a chemical of concern to the Environmental Protection Agency (EPA). According to their site, the “EPA is concerned that certain PBDE congeners are persistent, bioaccumulative, and toxic to both humans and the environment. The critical endpoint of concern for human health is neurobehavioral effects.” As soon as the EPA bans one kind of PBDE, another is created to replace it.
Environmental Health News reported that because of widespread use in the U.S., Americans have PBDE levels in their bodies 20 times higher than Europeans. “Californians are the highest exposed,” says the article, “likely because manufacturers added PBDEs to polyurethane furniture cushions to meet the state’s stringent flammability rules.”
In a University of California at Berkeley study, of 223 pregnant women studied, more than 97% had PBDEs in their blood, and each 10-fold increase in a woman’s blood was linked to a 30% decrease in her odds of getting pregnant.
A Uppsala University study conducted 10 years ago found that two kinds of PBDEs led to neurological problems affecting learning and memory in lab mice. The lead scientist, Per Eriksson, also has shown that PBDEs cause neurological damage in lab animals at exposure levels just slightly higher than those found in humans.
For a more in-depth look at PBDEs, this Slate article outlines the studies and recent developments. I’m still not sure how much of a difference a mattress makes — is the amount of toxic gas negligible compared to, say, your laptop or carpeting? If that study exists, I couldn’t find it. In the end, you have to weigh the studies with the unknowns and decide if paying extra for an organic mattress is right for you. (Also note that if your mattress is a few years old, it’s possible that it’s finished off-gassing.)
My husband and I decided to go with organic, and we made some adjustments to the budget to cover it. After all, I’d spent much more during the past few years on chiropractic appointments — even an organic mattress looked downright cheap in comparison!
Shopping for a Mattress
We’ve covered mattress shopping at GRS here and here, and those two articles have great advice for getting a good deal on a comfortable mattress. But if you’re interested in an organic mattress, the following are a few extra pointers to keep in mind:
Manufacturers and retailers often use words like “natural,” that don’t necessarily mean anything. For example, sometimes synthetic latex is blended with natural latex, and the end-product is advertised as “natural.” Other labels to question: chemical-free (nothing is actually chemical-free, everything is made up of chemicals), nontoxic (again, nothing is truly nontoxic, even water is toxic if you drink too much), and green (there are no standards for using the word).
While you’re at it, question the word “organic,” too. Some mattresses are sold as organic, when in reality the cotton is organic and the latex is synthetic. If you’re going to spend the extra cash on an organic mattress, make sure it’s made from wool (a natural fire retardant), organic cotton, and 100% natural, sustainably sourced latex.
If possible, buy direct from the manufacturer. Cutting out the retailer is one way to mitigate the higher cost of organic.
Always try before you buy. If you shop online, where organic mattresses and good deals are often easier to find, be sure to try out the mattress in a store first, or make sure that the return policy allows you to send it back. Usually there’s a restocking fee. Be sure you know the store’s policy and will be okay with the terms if the mattress doesn’t work for you.
We opted to buy our mattress from a Texas manufacturer. I found some great deals for organic mattresses online, but I liked that this was a local, 20-year-old business that had great reviews from customers. If we aren’t happy with our mattress, they’ll take it back and customize it based on our feedback, at no additional cost. “We’re in it together,” said the owner, who sold us the mattress. Additionally, if I get a note from a doctor about my back issues, the mattress store will refund us the sales tax we paid.
Next Thursday our new mattress will be delivered, and the old one will go to that big mattress store in the sky. I won’t be able to tell you with any certainty whether organic was worth the extra expense or not, but I have a feeling I’m going to owe that massage therapist a fruit basket or something.
Indiana is a hub of industry, attracting households and businesses with its vast farmlands and thriving big cities. So, it’s only natural that a variety of banks have emerged, from branches of large national banks to small local banks.
The best banks in Indiana combine minimal checking account fees with competitive rates on savings and CDs. It’s also important to look for a bank that lets you manage your account online while also getting that in-person service when you need it.
18 Best Banks in Indiana
With so many banks in Indiana, it can be tough to narrow down the options. This list can help you get started.
1. U.S. Bank
U.S. Bank is a top choice for those seeking a blend of national reach and local presence in Indiana. With eight locations in the state, U.S. Bank offers convenient access to banking services, as well as a comprehensive suite of banking products.
One standout offering is the U.S. Bank Smartly Checking account, which is currently offering a $300 sign-up bonus to new customers. This account was designed to provide customers with a simple, low-cost banking experience.
Pros:
U.S. Bank Smartly Checking account offers no monthly maintenance fees and easy mobile banking
Eight convenient branch locations in Indiana
Access to over 32,000 fee-free ATMs nationwide
Cons:
Limited physical presence compared to some larger national banks
Higher-tier checking accounts may require minimum balances or direct deposits to avoid monthly fees
2. Chase Bank
If you prefer the power of a national bank, Chase is worth considering. In addition to online and mobile banking, Chase has branches and ATMs scattered across the state. You’ll find a wide variety of banking products, including savings accounts, personal and business banking, and wealth management services.
Pros:
ATM access at more than 15,000 ATMs and 4,700 branches nationwide
Sign-up bonuses on new checking accounts
No monthly service fees with direct deposit
Cons:
Only 0.01% APY on savings
$3-$5 fee for out-of-network ATM use
3. Fifth Third Bank
Fifth Third Bank is a regional bank with branches in 11 states, including Indiana. You can find fee-free checking accounts with Fifth Third, but savings rates are less competitive than some online and local banks.
Pros:
No fees or minimum balance on Preferred Checking
Student and military accounts available
Fee-free ATM use at more than 40,000 locations
Cons:
Lower rates on savings accounts
Branch locations tend to be near larger cities
4. Chime
Chime is an online bank that offers more conveniences than usual. Your checking account not only gives you fee-free cash access at more than 60,000 ATMs, but you can deposit cash at Walgreens and 75,000+ retail locations. You can manage the rest of your account online, and you’ll get no monthly fees or overdraft charges, as well as automatic savings features.
Pros:
Deposit cash at more than 90,000 retail locations
No overdraft fees
Credit-builder credit card available with no credit check required
Cons:
No in-person customer service available
Withdrawal limits can be low
5. GO2bank
Another online-only option with cash access is GO2bank, which allows fee-free ATM transactions at 43,000 AllPoint locations. You can also deposit cash at any CVS Pharmacy, Rite Aid, Walgreens, or Walmart. Checking accounts come with no monthly fees as long as you have at least one payment deposited directly each month. Direct deposit accounts are also eligible for up to $200 in overdraft protection.
Pros:
4.50% APY on savings account
Fee-free cash access at 43,000 AllPoint ATMs nationwide
Deposit cash at CVS Pharmacy, Rite Aid, Walgreens, or Walmart locations
Cons:
No in-person customer service available
Savings APY limited to first $5,000 of balance
Direct deposit required for fee-free checking
6. First Financial Bank
One of the best banks in Indiana is First Financial Bank, an Ohio-based bank with branches throughout Indiana, as well as in Illinois and Kentucky. You’ll get all the amenities of a national bank with the exceptional customer service that comes with banking locally. Some checking account options offer discounts on loans, and you’ll get rates of up to 4.50% on CDs.
Pros:
Local branches throughout Indiana
Fee-free ATM access at 55,000+ AllPoint locations
Interactive tellers provide personal service
Cons:
$25 overdraft fee
$10 monthly maintenance fees on checking (waived with $500 balance or debit card activity)
7. First Merchants Bank
First Merchants Bank is a local bank that primarily serves Central Indiana. But you’ll find branches as far north as Fort Wayne. First Merchants Bank has been voted one of the best banks in Indiana for its attention to customer service, community focus, and mobile banking features.
First Merchants Bank has a low barrier on its fee-free checking account, letting you qualify with only a $100 balance or at least one customer-initiated transaction each statement period.
Pros:
Free checking with $100 balance or one qualifying transaction monthly
Fee-free national access at 37,000 MoneyPass ATMs
Up to 4.75% APY on 12-month CDs
Cons:
Branches limited to Northern and Central Indiana
$37 overdraft fee per transaction
8. Huntington Bank
Although it’s a regional bank, Huntington Bank is headquartered in Columbus, Ohio, so Indiana was an easy fit for its expanded service area. One of Huntington’s premiere features applies to its overdrafts.
Deposit accounts qualify for 24-Hour Grace, which allows you extra time to take action if your account goes into the negative. But if you travel, be aware that Huntington’s ATM access is limited to its service area. You’ll pay $3.50 plus third-party fees for every out-of-network ATM transaction.
Pros:
24-Hour Grace allows extra time to resolve overdrafts
Fee-free ATM access at 1,434 Huntington locations
In-person service at branches throughout the service area
Cons:
$3.50 fee for out-of-network ATM transactions
Low savings account rates
9. CIT Bank
You won’t find local branches or ATMs, but CIT Bank is a great option for building savings. CIT’s Platinum Savings account offers up to 4.75% APY, and they have a no-penalty CD with rates as high as 4.80%.
Their eChecking product is impressive, as well, with no monthly maintenance fees and up to 0.25% APY on your balance. You can withdraw cash at any ATM and CIT will refund up to $30 in fees every month.
Pros:
Interest rates of up to 4.75% on savings
Great rates on no-penalty CDs
Up to $30 a month in ATM fee refunds
Cons:
No branches
No in-network ATMs
10. Centier Bank
Centier Bank is another local option considered one of the best banks in Indiana. Although it’s local, it’s certainly not small. In fact, it’s the largest family-owned bank in the state.
You’ll find branches from Fort Wayne to Indianapolis, as well as ATMs nationwide through the AllPoint and Publix Presto! networks. Savings rates pay as high as 5.00% APY when you connect your checking to your savings account.
Pros:
Up to 5.00% APY on savings account
Low monthly fees on checking accounts
Fee-free access to Centier, AllPoint, and Presto! ATMs
Cons:
$100 savings balance required to earn APY
$50 minimum opening balance
11. BMO Harris Bank
Indiana residents have access to BMO Harris Bank, a regional bank that also services Illinois, Arizona, Missouri, Minnesota, Kansas, Florida, and Wisconsin. You’ll find branches and ATMs across the state, with a heavy concentration in Indianapolis and Gary.
The savings account only offers 1.00% APY, but BMO’s CD rates are competitive, paying up to 4.50% APY. Currently, new BMO Harris customers can earn a $200 cash bonus on basic checking accounts and a $350 bonus on high-balance checking.
Pros:
Fee-free checking accounts
Fee-free access to more than 43,000 AllPoint ATMs
$200-$350 cash bonus for new customers
Cons:
Only 1.00% APY on savings account
$25 minimum opening deposit
12. 1st Source Bank
1st Source Bank is set up to serve banking customers in Northern Indiana and Southwestern Michigan, but it has a small presence in Florida as well. If you regularly travel and need cash, 1st Source Bank might not be the best option, as ATMs are limited to its service area. 1st Source will refund up to four ATM fees on their end each year, but you’ll still pay third-party ATM fees.
Pros:
Student checking option available
Offers Health Savings Accounts
Variety of loan options
Cons:
Branches are limited to Northern Indiana
Rates on CDs aren’t competitive
ATMs limited to Northern Indiana and Southwestern Michigan
13. Ally Bank
Another online and mobile banking option is Ally, which has an interest-bearing checking account that currently pays 0.25% APY and has no fees. You can withdraw cash at more than 43,000 AllPoint ATMs nationwide, and if you can’t find an AllPoint ATM nearby, Ally will reimburse up to $10 per statement cycle for out-of-network ATMs.
However, the best thing about Ally is its rates on savings accounts and CDs. Currently, Ally is offering up to 4.80% on CDs and up to 3.75% on your savings account.
Pros:
Great rates on CDs and savings
Fee-free access to more than 43,000 AllPoint ATMs
No fees or minimum balance requirements
Cons:
No physical branches
No cash deposit option
14. Old National Bank
With branches across Indiana, as well as in Michigan, Wisconsin, Minnesota, Kentucky and Illinois, Old National Bank is a great brick-and-mortar option. Although it’s a regional bank, Old National Bank has plenty of amenities found with national banks, including a full-featured mobile app and cash deposits at select ATMs.
Pros:
Some Old National ATMs accept cash deposits
Fee-free cash withdrawals at Old National and AllPoint ATMs nationwide
Student checking accounts available
Cons:
Savings account rates lower than some competitors
Direct deposits or minimum balance required for free checking accounts
15. First Bank
For Indiana’s small business owners, First Bank is a great local Indiana bank. First Bank serves Indiana and Illinois businesses with online and mobile banking options to help you manage everything.
You’ll find a variety of financial products for small business customers, including business loans, equipment financing, and cash management tools. One downside, though, is that it’s a completely online branch, but you’ll get fee-free cash access at more than 40,000 MoneyPass ATMs nationwide.
Pros:
No-fee checking options available
Great rates on business and equipment loans
Fee-free ATM use at 40,000+ MoneyPass locations
Cons:
No local branches
Only serves Evansville, Haubstadt, Mount Vernon, Poseyville, Princeton, and Vincennes businesses
16. Regions Bank
One of many regional banks with a heavy Indiana bank presence is Regions Bank. You’ll find branches throughout Indiana, as well as in Alabama, Arkansas, Florida, Georgia, Illinois, Iowa, Kentucky, Louisiana, Mississippi, Missouri, North Carolina, South Carolina, Tennessee, and Texas.
Regions Bank’s checking account lacks the amenities of some online-only and national banks, with a $1,500 balance required to eliminate the monthly maintenance fees.
Pros:
Earn rewards on savings and checking through Regions Cashback Rewards
User-friendly mobile banking experience
24/7 customer support
Cons:
$1,500 balance to qualify for free checking
Branches limited to service area
$3 transaction fee for non-Regions ATM
17. Community First Bank of Indiana
If wealth management services are your top priority, consider Community First Bank of Indiana, which offers financial assistance through a dedicated investment services team.
In addition to wealth management services, Community First Bank offers the personalized customer service that’s typical of a local bank. But if you regularly travel outside the area, note that Community First has no nationwide ATM network.
Pros:
Community focus with great customer service
Fee-free checking accounts
Dedicated investment support team available
Cons:
Only seven branch locations
Fee-free ATMs limited to seven branch locations
18. Bank of America
There are benefits to a national bank like Bank of America. Like most national banks, you’ll find branches and ATMs throughout Indiana, but with Bank of America, this is found in towns throughout the country. Bank of America also offers better-than-average rates on home equity loans and auto loans.
Pros:
Automatic savings options
Earn rewards with debit card
Large ATM and branch presence nationwide
Cons:
Minimum balance or direct deposit required for free checking account
Low interest rates on savings
Life can be busy. Managing your financial life can be much easier if you find a bank that fits your needs. Whether it’s a fee-free checking account or help to build your retirement accounts, the right bank can make all the difference.
Finding the Best Banks in Indiana
Whether you’re in the market for a personal checking account or business banking options, there are plenty of FDIC-insured banks in the state. To help you narrow down your options, here are some questions to ask yourself.
How often do you visit your bank right now?
As you’re browsing a list of banks in Indiana, you probably know right away which ones have branches near you. Are you the type of person who visits your local branch frequently? Even the best checking accounts won’t benefit you if you prefer that in-person experience and your new bank doesn’t offer it.
How well do you handle online communication?
Some online, national, and regional banks offer customer service via text chat, video chat, or telephone. If this is sufficient, you’ll likely find your options up open considerably. You may choose an online bank for your checking account while you go with a bank that has a local branch for personal loans.
How often do you need cash?
Some of the smaller banks in Indiana fall short when it comes to ATM access. Having a no-fee checking account but paying $30 monthly in out-of-network ATM fees isn’t ideal. You may be better off going with a bank that charges fees, but gives you fee-free access to cash when you need it.
Today we’ll check out “Rate Rabbit Home Loans,” a direct mortgage lender that says it uses a “new, Internet-based method to obtain a home loan.”
This includes the ability to apply in minutes via a digital mortgage application, along with the option to price a loan with live mortgage rates 24/7.
Their advanced technology should make it both quicker and easier to get a mortgage, and ideally cheaper as well thanks to a simplified online experience.
Let’s learn more about them.
Rate Rabbit Fast Facts
Direct mortgage lender that offers home purchase loans and refinances
Founded in 2011, headquartered in San Diego, CA
Offers a One Fee Guarantee including all lender and third-party fees
Currently licensed to do business in 11 states nationwide
Has funded over $5 billion in home loans since inception
Rate Rabbit Home Loans is a direct-to-consumer mortgage lender based in San Diego, CA that operates entirely online.
They offer both home purchase financing to prospective buyers and mortgage refinances for existing homeowners.
And they rely upon non-commissioned loan consultants, which should translate to a less pushy and perhaps cheaper home loan experience.
With regard to customer satisfaction, over 80% of their clients are either repeat customers or referred by one of their customers.
At the moment, the company is licensed in 11 states nationally, including Arizona, California, Colorado, Florida, Idaho, Iowa, Kentucky, Massachusetts, Michigan, Tennessee, and Wisconsin.
How to Apply for a Home Loan with Rate Rabbit
They offer a mostly self-serve loan process, though humans are standing by to help
To get started search mortgage rates on their website and select a price/program you like
Then simply click on “Apply” or request a call from one of their loan consultants to walk you through it
Most tasks can be completed electronically from the comfort of your home
Rate Rabbit is big on technology and makes it super easy to get the ball rolling on your home loan.
First, navigate to their website and search their live mortgage rates to see if their pricing is to your liking.
In about 10 seconds, you’ll be able to price a loan and see dozens of options side-by-side with varying lender costs.
Once you find something you like, simply click on Apply and you can begin filling out their digital mortgage application.
Alternatively, you’ll be given the option to talk to one of their loan consultants if you select that option and fill out a short contact form.
It’s also possible to just call them up on the phone if you’d prefer to speak to a human right away.
After you submit your application, you’ll be able to manage it via an online borrower portal 24/7. This includes the ability to lock your loan at any time, day or night.
Loan Programs Offered by Rate Rabbit
Home purchase loans
Refinance loans: rate and term and cash out
Conforming loans backed by Fannie Mae and Freddie Mac
Jumbo home loans
Interest-only loans
Fixed-rate mortgages: 10, 15, 20, and 30-year terms available
Adjustable-rate mortgages: 3, 5, 7, and 10- year terms available
Rate Rabbit offers both home purchase loans and mortgage refinances, including cash out refinances.
They lend on primary residences, second homes, and investment properties, including 1-4 unit properties and condominiums/townhomes.
You can get a conforming home loan backed by Fannie Mae or Freddie Mac, or a jumbo loan that exceeds the conforming limit.
The only real question mark is if they offer government-backed home loans, such as FHA loans, VA loans, and USDA loans.
In terms of specific loan programs, you can get a fixed-rate mortgage, with terms from 10 years to 30 years available.
Or an adjustable-rate mortgage, including a 3/1, 5/1, 7/1, and 10/1 ARM. Their ARMs also come with an interest-only option if you’re looking for a cheaper monthly payment.
In summary, they should have a loan program to suit most homeowners, though you may want to get in touch if you have a unique scenario.
Rate Rabbit Mortgage Rates
One perk to using Rate Rabbit is the ability to search live rates without having to reveal any of your personal information.
In fact, just answer a few basic questions and you’ll see a huge list of mortgage rates in seconds.
Their advanced rate search tool fully discloses the interest rate, APR, lender fees, and third party fees so you get a complete picture, not just a promotional number.
Rate Rabbit says it offers its customers “the most competitive rates available,” and I can confirm that I’ve seen them listed on the Zillow Mortgage Marketplace with the lowest rate and lowest APR for a 30-year fixed.
In terms of fees, Rate Rabbit has created what it refers to as a “One Fee Guarantee.”
They essentially took the many fees you’d find on a Loan Estimate and turned it into a “guaranteed and protected fixed-fee package.” Both lender and third-party costs are included.
Instead of an estimate, you are provided with a fee guarantee that won’t change once when the loan is locked.
For refinances, they provide a guarantee of the total costs of your loan, including all lender and third party fees.
On purchase loans, they guarantee the lender fees, but not other third party fees such as title insurance, inspection fees, recording fees, and so on.
When comparing rates on their website, you’ll see varying one fee guarantees, along with a no cost loan option that charges you nothing out of pocket in exchange for a slightly higher mortgage rate.
If you see something you like, you can click on Apply or request a call from a loan consultant.
All in all, I was impressed with their mortgage rates and their limited lender fees, which collectively result in some of the lowest mortgage APRs around.
As always, put in the time to shop around to ensure there aren’t other lenders offering even better deals.
Rate Rabbit Reviews
While Rate Rabbit doesn’t have a ton of reviews, the ones they do have seem to excellent.
For example, on Zillow the company has a very favorable 4.75-star rating out of a possible 5 from 124 reviews, with many indicating that the interest rate was lower than expected.
They’ve also got a perfect 5-star rating on Google from about 20 customer reviews.
The same goes for their 4.8-rating on LendingTree from about 20 reviews as well, and their 94% recommended score.
On Yelp, it’s a similar story, a perfect 5-star rating from just over a dozen reviews. While not a ton, at least they’re pretty much all positive.
They aren’t an accredited business with the Better Business Bureau and currently do not have a rating, which is due to a lack of sufficient information (maybe not enough feedback from customers).
To summarize, Rate Rabbit Home Loans could be a good choice for an existing homeowner looking for a low-cost mortgage as they seem to offer some of the best rates in the industry.
They could also serve your home buying needs, though first-timers may want more guidance from a brick-and-mortar shop.
Either way, their mortgage rates appear low and their customer satisfaction seems stellar.
Rate Rabbit Home Loans Pros and Cons
The Good
Openly display their mortgage rates and lender fees 24/7
Mortgage rates appear to be very low
Offer no cost loan options and a fee guarantee
Can apply for a mortgage directly online in minutes
They use non-commissioned loan consultants
Lots of loan programs to choose from including interest-only mortgages
Montana is a beautiful place to live, with its waterways and mountainous terrain. If you live and work in the state, you likely need a great place to park your money. The best banks in Montana give you everything you need to pay your bills and manage your money while also keeping fees to a minimum.
The banking industry in Montana is thriving, with a wide range of brick-and-mortar banks that include local, national, and regional banks. Online banking can be a great option, as well, offering reduced fees and savings interest rates that are above the national average.
14 Best Banks in Montana
This list offers a combination of different bank accounts to help you find the right combination of features to fit your needs.
1. First Interstate Bank
With branches in Montana, Arizona, Colorado, Idaho, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, Oregon, South Dakota, Washington, and Wyoming, First Interstate Bank has a fairly large footprint.
You’ll also get fee-free access to ATM withdrawals nationwide through the MoneyPass network. First Interstate’s free checking account waives monthly maintenance fees with direct deposit or at least a $250 daily balance. Account holders under the age of 24 also pay no service fees.
Fees:
$5 monthly service fee (waived with requirements)
$10 overdraft fee
Balance requirements:
$100 minimum deposit to open
No minimum balance requirements
ATMs:
Fee-free at First Interstate Bank ATMs
Fee-free at 37,000+ MoneyPass ATMs nationwide
$2.50 out-of-network ATM fee
Interest on balance:
Up to 0.25% APY on savings accounts
Up to 0.25% APY on money market accounts
Up to 4.29% APY on CDs
Additional perks:
Open a FirstRewards World Mastercard along with a checking account and get 5,000 bonus points
Wealth management services available
2. GO2bank
GO2bank is an online-only bank that integrates all your banking functions into its app. You’ll get most of the features you need to manage your bank account in the app, including mobile check deposit and the ability to transfer money from checking to your savings account.
But what sets GO2bank apart from other online and mobile banking options is its cash accessibility. Not only can you withdraw funds at any Allpoint ATM, but you can also deposit cash at more than 90,000 retail locations nationwide.
Fees:
$5 monthly fee
$15 overdraft fee
Balance requirements:
No minimum deposit to open
No minimum daily balance requirement
ATMs:
Fee-free at Allpoint ATMs nationwide
$3 out-of-network ATM fee
Interest on balance:
4.50% APY on savings accounts
Additional perks:
Deposit cash at 90,000+ retail locations nationwide
Secured credit card helps you boost your credit score with no credit check required
3. U.S. Bank
Multiple national banks have branches in Montana, including U.S. Bank, which operates 21 branches across 14 towns. You’ll find ATMs across Montana, but the bank doesn’t operate in every state. You will, however, enjoy fee-free access to cash while you’re traveling through the MoneyPass network, which currently operates about 40,000 ATMs nationwide.
The U.S. Bank Smartly checking account is an interest-earning account that doesn’t charge fees, provided certain conditions are met. These conditions include having monthly electronic deposits of $1,000 or more, maintaining a minimum average balance of at least $1,500, or possessing an eligible U.S. Bank credit card. Alternatively, you can also qualify for fee-free status if you reach one of the bank’s rewards tiers.
In addition, for a limited time, you can earn a $400 sign-up bonus with qualifying activities.
Fees:
$6.95 monthly maintenance fee (waived with requirements)
$35 overdraft fee (waived up to $50)
Balance requirements:
$25 minimum opening deposit
No minimum daily balance requirement
ATMs:
Fee-free at U.S. Bank ATMs
Fee-free at MoneyPass ATMs nationwide
$2.50 fee per out-of-network ATM transaction
Interest on balance:
Up to 0.05% APY on checking accounts
0.01% APY on savings accounts
Up to 4.75% APY on CDs
Up to 4.00% APY on money market accounts
Additional perks:
Smart Rewards program helps you earn rewards for purchases
Up to $750 bonus for business checking accounts
4. Stockman Bank of Montana
Those who prefer brick-and-mortar banks should take a look at Stockman Bank of Montana. As Montana’s largest family-owned bank, Stockman Bank offers branches and ATMs throughout the state. It might not be the best option if you regularly leave Montana, though, as you’ll pay an out-of-network ATM fee of $1 per transaction in addition to third-party ATM fees.
Fees:
No monthly maintenance fees
$15 overdraft fee
Balance requirements:
$100 minimum deposit to open
No minimum balance requirements
ATMs:
Fee-free at Stockman ATMs
$1 out-of-network ATM fee
Interest on balance:
Up to 0.60% APY on savings accounts
Up to 4.39% APY on CDs
Additional perks:
High ratings for customer service
Enhanced debit card security features in mobile banking app
5. Opportunity Bank of Montana
Based in Helena, Opportunity Bank of Montana is another community bank with access to a nationwide ATM network. There are two free checking account options.
Opportunity Checking has all the basics, but Opportunity Reward Checking issues 1% unlimited cash back on qualifying purchases. To qualify for reward checking, you’ll need to receive at least $1,000 in monthly direct deposits and have at least 10 qualifying purchase transactions on your debit card.
Fees:
No monthly service fees
$30 overdraft fee
Balance requirements:
$100 minimum deposit to open
No minimum daily balance requirement
ATMs:
Fee-free at Opportunity Bank ATMs
Fee-free at MoneyPass ATMs nationwide
$2 fee for ATMs outside the Opportunity and MoneyPass networks
Interest on balance:
Rates not publicly disclosed
Additional perks:
6. Glacier Bank
It might be a regional bank, but Glacier Bank has a heavy presence in its service area. You’ll find 222 branches in Montana, Idaho, Utah, Washington, Wyoming, Colorado, Arizona, and Nevada, and you can use your ATM card at any Allpoint ATM across the globe. In addition to local bank branches, you’ll also get great deals on checking accounts, as well as savings and business banking options.
Fees:
No monthly fees
$30 overdraft fee
Balance requirements:
No minimum deposit to open
No minimum balance requirement
ATMs:
Fee-free at Glacier Bank ATMs
Fee-free at 55,000 Allpoint ATMs worldwide
$2 fee for ATMs outside of Glacier Bank and Allpoint networks
Interest on balance:
Rates not publicly disclosed
Additional perks:
New checking account comes with a thank-you gift
Robust business banking services
7. Chime
If you have direct deposit, Chime is an online banking option that’s worth considering. Chime doesn’t charge monthly service fees on its checking account, and automatic savings features can help move money from your checking account to your savings account regularly. There is no cash deposit option with Chime, but you can withdraw cash from any Allpoint ATM.
Fees:
No monthly service fees
No overdraft fees
Balance requirements:
No minimum deposit to open
No minimum daily balance requirement
ATMs:
Fee-free at 60,000+ ATMs nationwide
$2.50 outside ATM fee
Interest on balance:
2.00% APY on savings accounts
Additional perks:
8. Chase
Chase Bank is another national bank with branches and ATMs in Montana. You’ll find branches in Helena and Billings. One of the best things about Chase is its nationwide presence. Chase has 4,800 branches and 16,000 ATMs spread across 48 states and the District of Columbia.
The most popular account is Chase Total Checking, which is fee-free if you receive at least $500 in electronic deposits monthly, have a daily balance of at least $1,500, or maintain an average combined balance of $5,000 across all your Chase Bank accounts.
Fees:
$12 monthly service fee (waived with requirements)
$34 overdraft fee
Balance requirements:
No minimum opening deposit
No minimum daily balance required
ATMs:
Fee-free at 15,000+ Chase ATMs
$3-$5 non-Chase ATM fee
Interest on balance:
0.01% APY on savings accounts
Up to 3.75% APY on CDs
Additional perks:
$300 bonus for new checking accounts
Autosave makes it easy to transfer funds to your savings account
9. Farmers State Bank
Another community bank is Farmers State Bank, which has locations across Montana. Farmers State Bank offers both e-banking and traditional banking services to meet all your needs. Although their checking accounts require an opening balance, you can find a fee-free option with no minimum balance requirements or fees.
Fees:
No monthly fees
Balance requirements:
$25 minimum deposit to open
No minimum balance requirement
ATMs:
Fee-free at Farmers State Bank locations
$1 non-Farmers State ATM fee
Interest on balance:
Up to 0.03% APY on savings accounts
Up to 2.27% APY on money market accounts
Up to 4.59% APY on CDs
Additional perks:
Consumer and business loans available
Scholarship program available for students
10. Trailwest Bank
Serving Ravalli, Missoula, Mineral, and Flathead Counties, Trailwest Bank is a locally owned bank with checking and savings options. One feature that sets Trailwest Bank apart is its rewards checking account. Your account comes with a debit card that issues unlimited $.10 rewards per purchase with no fees or minimum balance required.
Fees:
No monthly fees
$30 overdraft fee
Balance requirements:
$25 minimum deposit to open
No minimum daily balance requirement
ATMs:
Fee-free at Trailwest Bank locations
Fee-free at Allpoint ATMs nationwide
$2 ATM fee for transactions outside the Trailwest and Allpoint networks
Interest on balance:
Rates not publicly disclosed
Additional perks:
Wide range of personal loans available
Business checking and savings account options
11. Ally
Another online banking option is Ally, which stands apart from other online banks due to its competitive interest rates on checking accounts, savings accounts, CDs, and money market accounts.
Ally pays up to 0.25% APY on checking account balances, as well as 3.85% APY on savings accounts. One perk included with your Ally checking account is spending buckets, a tool that helps you better balance your budget.
Fees:
No monthly fees
No overdraft fees
Balance requirements:
No minimum opening deposit
No minimum daily balance requirement
ATMs:
Fee-free at 53,000+ Allpoint ATMs nationwide
Up to $10 in third-party ATM fees reimbursed monthly
Interest on balance:
0.25% APY on checking accounts
3.85% APY on savings accounts
Up to 4.80% APY on CDs
4.15% APY on money market accounts
Additional perks:
Robo Portfolios available to help you build wealth
CoverDraft helps you avoid overdrafts
12. Independence Bank
When it comes to local Montana banks, Independence Bank is a great option. You’ll find physical branch locations across Montana, each offering the in-person customer service you can only get from a brick-and-mortar bank. Independence Bank offers two checking accounts, including one fee-free option.
Fees:
No monthly maintenance fees
Balance requirements:
No minimum daily balance required
ATMs:
Fee-free at Independence Bank ATMs
Interest on balance:
Rates not publicly disclosed
Additional perks:
Robust business checking options
Special perks for account holders aged 60 and over
13. Valley Bank of Kalispell
Valley Bank of Kalispell is a community bank with more than a century of experience in the area. The bank’s main office is in downtown Kalispell, with an additional loan office in Eureka. You’ll find multiple basic checking accounts with no monthly maintenance fees, each with its own requirements and features.
Fees:
No monthly maintenance fees
Balance requirements:
$50 minimum opening deposit
No minimum balance requirements
ATMs:
Fee-free at Valley Bank ATMs
Fee-free at MoneyPass ATMs nationwide
Interest on balance:
Rates not publicly disclosed
Additional perks:
Easy check ordering
Wide variety of auto and recreational vehicle loan options
14. Wells Fargo
Wells Fargo is a national bank with branches in 4,900 branches in 37 states. You’ll get fee-free ATM use while traveling at 12,000 ATMs, but if you travel to one of the states without a Wells Fargo presence, Wells Fargo will charge a $2.50 fee for each non-Wells Fargo network ATM withdrawal.
This is in addition to the fee charged by third-party ATM providers. Currently, you can earn a $300 bonus by opening an Everyday Checking Account with a $25 deposit and receiving at least $1,000 in direct deposits within the first 90 days.
Fees:
$10 monthly fee (waived with requirements)
$35 overdraft fee
Balance requirements:
$25 minimum opening deposit
No minimum daily balance requirement
ATMs:
Fee-free at Wells Fargo ATMs nationwide
$2.50 fee for non-Wells Fargo ATM transactions
Interest on balance:
Up to 2.51% APY on savings
Up to 4.51% APY on CDs
Additional perks:
$300 bonus on new checking accounts
FICO score available in mobile banking app
How We Picked These Accounts
Banking needs vary from one person to another, so it can be tough to say what the best banks are. First, there’s the national vs. local debate. Someone who travels often might prefer a bank with branches everywhere, while others might prefer the sense of community you get with a local bank.
This list of best banks also takes into account the different banking services available. You might prioritize a free checking account over a high-yield savings account, for instance. In case you’re looking for a checking or savings account that earns money, we also included banks that pay interest on your savings account, CD, or money market account.
Frequently Asked Questions
What national banks are in Montana?
There are several national banks that have branches within the state of Montana, including U.S. Bank, Chase Bank, and Wells Fargo. If you live in Billings or Helena, Chase might work well for you, but otherwise, U.S. Bank and Wells Fargo will have the statewide coverage you need.
What is the most reliable bank?
Nothing’s guaranteed, but if you go with an FDIC-insured bank, you should be covered, even if you choose an online banking or extremely local bank. Large, corporate banks have a bigger asset base, so if stability is your biggest concern, that might be the way to go. However, there are plenty of FDIC-insured regional banks and small, local banks that are well-established and unlikely to go anywhere.
What Montana bank is ranked the best?
Opinions can vary from one source to another, so it’s important to look across multiple rankings to pull out some trends. When it comes to national banks with a large number of bank branches in Montana, U.S. Bank tops a lot of lists.
As for local banks, two banks receive quite a few mentions. Both Glacier Bank and Stockman Bank of Montana get high marks for their customer service and community focus. Since both of these options are among the best banks for keeping fees low, they’re worth considering.
What should I look for in a Montana bank?
With so many Montana banks, it can be tough to narrow it down to just one. Once you’ve ensured a bank is FDIC insured, it’s a matter of weighing the cost against the rewards. That includes perks like rewards for debit card transactions and checking accounts that pay interest. Here are some factors to consider as you’re researching the best banks.
Overall Better Fee Structure
You’ll see plenty of banks that offer free checking account options, but it’s important to look at the big picture. You’ll see account fees charged for the following:
In most cases, you won’t be penalized for not using an account as long as it doesn’t sit dormant for a while, but it’s essential to look at that. Also consider ATM availability. If you think you’ll regularly need to withdraw cash, the best checking accounts will give you fee-free access whether you’re at home or traveling.
Easy-to-Achieve Fee Waivers
Most online banks and community banks have free checking. But many national and regional banks have strings attached to their free accounts. The best checking accounts have attainable fee waivers, if any at all. Pay close attention to banks that require a lot of debit card purchases every month if you tend to spend more using cash or a credit card.
Some fee waivers will also require a minimum daily balance. This goes for both checking and savings accounts. Before choosing an account, make sure you can maintain that balance, day after day, or be prepared to pay the fee.
Low (or No) Minimum Deposits
Banks often require a small deposit on the account holder’s part to establish checking and savings. But you’ll find plenty of free online banking and smaller local banks that waive the minimum deposit to let you get started with no money whatsoever.
Among the banks that require an opening deposit, though, you’ll find options with small requirements. You might find a bank that lets you open a savings account with just $25 or $50 with a free or low deposit to establish checking. If it’s lower than what you’d put into savings with a different bank, that small checking deposit might be worth it.
Competitive Interest Rates
In addition to fees, you’ll also need to look at the return you’ll get on your savings. The best savings accounts offer a high yield without requiring a ridiculously high balance. Take a look at the interest rate and compare it to other banks to make sure you’re getting the best deal.
Variety of Accounts and Loans
Whether the account pays a higher interest rate is a great consideration, but there’s a benefit to having a one-stop shop. You might find community banks and credit unions offer highly competitive interest rate options on personal loans.
Being an account holder might even get you a discount on auto loans and mortgages. Although you can always shop for loans with other banks, some people prefer to have everything in one place.
Digital banking
Over the years, banking has moved to mobile devices and websites. Whether you go with a large or small bank, take a quick look at the digital offerings. The app should make it easy to pay bills, transfer funds, and keep an eye on your accounts. You might find an online bank gives you better options in this area, particularly if you don’t need to visit a local branch and you rarely deposit cash.
Most importantly, make sure the bank’s mobile app works with your particular mobile device. The app can’t help you at all if you can’t access it. Even if you rarely use the app, it’s a handy tool to have if you suddenly need to take a look at your account when you’re away from your computer.
The best savings accounts and checking accounts offer all the amenities you need while also keeping your balances strong. With so many banks and credit unions in Montana, it’s fairly easy to find a solution that will meet your own needs.
It’s common knowledge that the pilot episode of any given TV show is just a warm-up round. To know what you’re getting into, and decide if you really want to watch it, you have to give most shows 2-3 episodes. But some shows just have a really strong pilot, and you know from the beginning that the show is going to be good. Today, let’s talk about the top 20 TV shows with the strongest first episodes. Do you have one in mind? Check out this list and see if it’s here!
1. Chernobyl
Chernobyl is a 2019 series based on the historical 1986 Chernobyl tragedy and the subsequent cleanup activities. Some people say the drama series had one of the strongest first episodes.
One person said, “Still watch that series a couple of times a year, it’s amazing.”
Another person replied, “It was brilliant but scarred for life after it. Couldn’t do that to myself again.”
One commenter added, “Same team made The Last of Us pilot, which is also quite good.”
2. Six Feet Under
The HBO television series Six Feet Under was highly praised by critics for its writing and acting, and was consistently popular among viewers, resulting in high ratings. It is widely considered to be one of the greatest television shows ever made. Also, the last episode of the series has been called one of the best endings to a TV show ever.
One person said, “I love this show. Still recommend it for anyone asking for a solid series to watch.”
Another added, “I recommend it to people all the time too. I’ll Have to watch it again someday. So good.”
3. Fargo
Fargo is a 2014 black comedy crime series with four seasons and 41 episodes. The series is incredibly well-curated, with each episode just getting better.
One person commented, “Yeah! I came to say this one, it has the best first episode I’ve ever seen.”
Another commenter replied, “First and second season both had excellent opening episodes.”
Another user added, “Came here to say this too! I was immediately hooked.”
4. Attack on Titan
Attack on Titan (AOT) is a Japanese manga series illustrated by Hajime Isayama. The apocalyptic series follows the story of Eren Yeager, along with his other friends to exterminate the man-eating giants in the post-apocalyptic world.
One person shared, “Yes. Immediately sets the tone and gives you the first wave of questions you want answered.”
“I remember watching it and being immediately hooked,” someone replied.
“The first two episodes triggered my depression really hard and I had to stop. Then I couldn’t get it out of my head and went back to it like a week later. Now it’s one of my favorite shows ever,” another Redditor added.
5. Lost
Lost is a 2004 science fiction drama that follows a group of survivors who manage to survive a plane crash on a deserted island in the tropical Pacific while aboard Oceanic Airlines Flight 815.
One person stated, “My answer too—ridiculously strong opening. Hard to imagine now but it was one of the first ‘mystery box’ series’ and still maintained strong character focus. That whole first season was incredibly good.”
Another commenter added, “As someone who quit watching Lost half way through, the pilot was one of the most riveting things I’ve ever seen.”
6. Hannibal
Hannibal is a psychological horror-thriller television series that aired from 2013 to 2015, starring Mads Mikkelsen as the titular character, Dr. Hannibal Lecter. The series is based on the characters and elements from the classic novels ‘Red Dragon’ and ‘Hannibal’ by Thomas Harris.
One user said, “Hannibal sets up the tone for the whole show quite well.”
Another Redditor replied, “The first season of Hannibal is one of my favorite TV seasons ever and that first episode is flawless.”
One commenter added, “Love the show so much! Mads Mikkelson and Hugh Dancy are fantastic! I never would’ve thought I’d like another Hannibal Lecter after Anthony Hopkins, but I dare say that Mads is right up there with him. If not better.”
7. The West Wing
“Came here to say this. The entire show was a masterpiece for me, even after Sorkin left. Easily my most rewatched series,” One Redditor shared.
“26 Emmy awards. It’s a comical number when you consider how many legendary TV shows only got 1 or 2 awards. I remember when John Spencer, Bradley Whitford and Richard Schiff were all nominees for best-supporting actor against each other, and you just had to laugh at how much better it was than other shows,” another added.
“My favorite of all time. Have viewed S1-S7 at least three times, maybe four. I never get sick of it. Glad to know others are obsessed with it. Succession is the only other show that has come close to me wanting to absorb eps multiple times,” one commenter replied.
8. Westworld
One user commented, “I watched the first episode of Westworld and then immediately made a group of friends watch it. It hooked me hard. It is a shame the later seasons couldn’t (to me) hold on to the same magic as that first season.”
Another person replied, “The performances in Westworld were incredible. Especially when they were troubleshooting Peter Abernathy, that scene was masterful.”
A third commenter added, “Westworld S1 was absolute perfection. One of the best first seasons of a show ever. So sad its trajectory went the way it did.”
9. Ozark
Ozark is a crime drama television series that premiered on Netflix in 2017. The series stars Jason Bateman as Marty Byrde, a financial planner who relocates his family from the Chicago suburbs to the Ozarks in Missouri to launder money for a drug cartel.
“Ozark’s first episode was pretty chill and then whoa,” one user stated.
“This is my answer too. It’s a good show, but far and away the best episode of the series was the pilot. One of my favorite hours of television,” the second person replied.
10. Derry Girls
The show is known for its witty and irreverent humor, as well as its poignant exploration of the impact of political conflict on everyday life in Northern Ireland. It has been praised for its diverse and relatable characters, as well as its portrayal of female friendship and adolescent angst.
“Most sitcom first episodes (seasons too?) have to do so much table setting that they’re not funny. This first episode established the settings, and characters, and was funny too,” one person stated.
“Yup, wife and I just started and we were in love with it from the first episode. It’s great when you find a new show that doesn’t require time to ‘get into it, it gets better’ etc.,” another commented.
11. Sherlock
One person stated, “It started well, but they tried to get too clever. The last series was unwatchable.”
Another user added, “Not fair as this show is on another level. Each episode is an entire cinematic experience. Masterpiece.”
One commenter said, “Yeah I liked the slow-mo matrix-style wedding photos, really added to the experience.”
12. The Americans
The Americans has been praised for its complex characters, compelling storytelling, and meticulous attention to detail in its portrayal of historical events and espionage tactics. It has won several awards, including Emmys for its lead actors and for Outstanding Writing for a Drama Series.
One person shared, “YES! Also has one of the saddest series finales ever. I cannot listen to With or Without you anymore.”
The second person replied, “It sets up everything perfectly. I remember finishing it the first time and being confused that I’d only watched a single episode. It felt longer, but in a good way. The finale is also amazing, along with pretty much every moment in between.”
13. Battlestar Galactica
Battlestar Galactica is a science fiction television series that initially aired from 2004 to 2009. The show is a reimagining of the original 1978 series and is set in a distant star system where humans and their robot creations, the Cylons, are in a state of war.
One user shared, “That opening scene had me soooooo hooked.”
Another Redditor replied, “Oh, so good. And the finale was great too. (And like most of the in-between bits).”
14. Designated Survivor
Designated Survivor was initially praised for its compelling premise and strong performances, particularly from Sutherland. However, the show received mixed reviews over the course of its three seasons, with some critics and fans feeling that it lost its way in later seasons.
“Also had the best episode of the series,” one person commented.
“I’m so hooked on this show right now!” another person replied.
15. The Good Place
“This is especially striking because sitcoms are notorious for having ‘meh’ pilots at best, even the ones that become classics. Sitcoms always seem to take time to get the characters well together and for the writing to align with their characters’ energy. But The Good Place was straight hysterical right out of the gate!” one person said.
“Can’t believe I had to scroll this far to find this. You watch the first episode, you’re probably going to watch all of them,” another user stated.
“Yup, I was about to comment this because I didn’t think anyone would. I don’t really like sitcoms, but this show is amazing,” a third commenter added.
16. The Walking Dead
One person commented, “[The] Walking Dead season 1 was so damn good.”
Another commenter replied, “I agree. That first episode hooked me. I was actually frightened and squirming in my seat as I got through the scene in/under the tank. What an adrenaline rush. After that, seeing NO progress in a resolution for years…other than to try to escape another disaster of their own making. I eventually gave up on the show.”
One user added, “This is actually the first to come to my mind as well. Such a great start.”
17. Dexter
The series explores Dexter’s personal struggle with his dark impulses and his attempts to balance his ‘normal’ life as a brother, friend, and father with his secret life as a killer. Over the course of the series, Dexter becomes involved in a number of complex and dangerous situations, including his interactions with other serial killers, the police department’s investigations into his activities, and his attempts to maintain his cover while pursuing his targets.
“Loved season 1 & 2,” one person commented.
“There is so much packed in to the first episode in the best way,” added another.
18. Jericho
Jericho is a post-apocalyptic drama television series that aired from 2006 to 2008. The show is set in the small town of Jericho, Kansas, after a nuclear attack on several major US cities. As the survivors struggle to rebuild their lives and society in the wake of the disaster, they face various challenges, including food and water shortages, disease outbreaks, and conflicts with neighboring towns and militias.
One person said, “That first episode was dynamite. Hands down. But unfortunately when they were forced to bring it back for season two, with a much reduced budget (just to pacify the fans), it showed. Was not the same quality show as season one.”
19. Mr. Robot
One person said, “That first episode legit dropped my jaw. It’s one of the all time greats.”
Another user commented, “I’m just watching Mr Robot for the first time now. About halfway through season 3. It’s really good, but they play a little too hard in the ‘unreliable narrator’ trope.”
One Redditor added, “Agreed! Haven’t been that immediately hooked by the opening 10 minutes in a while.”
20. Fringe
Fringe is a science-fiction television series that aired from 2008 to 2013. The show follows a team of FBI agents and scientists investigating mysterious and unexplained phenomena, including parallel universes, advanced technology, and supernatural events.
“I agree with you. Fringe was a terrific show,” one person stated.
“Very underrated and I rarely see it even mentioned anywhere,” the second person replied.
Source: Reddit.
10 Terrible Fads People Are Glad Died Out
Every fad has its time in the limelight, but some of them come and go faster than others; and some just need to die out right away. Check out this list of fads of which people were happy to see the last.
These are 10 Things That Completely Destroyed The Love in a Relationship
There’s no question that relationships can be confusing, but here are some of the top things to avoid if you want to keep your relationship healthy!
10 Actors and Actresses People Refuse to Watch Ever Again
We all have a favorite actor or actress, but most of us have a least-favorite as well. Check out this list of actors and actresses people never want to see performing again!
Top 10 Worst Human Inventions of All Time
Some inventions are world-changing, and some of them, well, they change the world in the wrong ways. Here are some of the worst inventions Redditors could think of.
10 Famous Celebrities Who Look Like They Smell Terrible
We’ve all had moments of hygiene faux pas—but these celebrities just look like they don’t take care of themselves at all.
One of my jobs at The Motley Fool is to serve as the internal financial planner for Fool employees. Lately, however, I’ve been answering more questions my colleagues have about their parents — and it’s more likely about their mothers or mothers-in-law. The truth is, women face a more difficult task when it comes to retirement planning, for several reasons:
Women earn, and have, less. According to the Census Bureau, women earn just 77% of what men make. They are also more likely to interrupt their careers to raise children or take care of older relatives. According to the Social Security Administration, the typical woman spends 12 years out of the workforce. This results in lower retirement benefits and smaller portfolios. On average, a female’s 401(k) is 40% less than a male’s.
Women live longer. Generally, retirement begins when a person leaves the workplace and ends when life leaves the person. The longer someone lives, the longer retirement lasts — and the more assets will be needed. On average, gals live five years longer than guys, which means they tend to be retired longer. Add to this the fact that, with most couples, the wife is a few years younger than the husband, and you can see why most women should plan on spending their last few years on their own. Which leads us to…
Women are more likely to spend part of their lives single. Though my wife may not believe it, marriage enhances retirement security. According to a National Bureau of Economic Research study by Susann Rohwedder and Michael Hurd, 80% of married couples in the 66-69 age group are adequately prepared for retirement, whereas just 55% of single persons have enough resources. Unfortunately, more than twice as many older women are single than older men. According to the Census Bureau, 19% of men over the age of 65 live alone, compared to 40% of women in the same age group. More than two-thirds of 85-year-olds are women.
Women tend to retire earlier. According to the Center for Retirement Research at Boston College, the average retirement age for men is 64, whereas the typical woman retires at age 62. This is often because a wife will retire at the same time as her husband. It’s just another reason why women can be expected to fund a longer retirement than men.
Women often leave financial planning to their husbands. According to a survey from ING Direct and Dailyworth.com, 40% of married women leave retirement planning to their partners, and almost 30% say they don’t know what their main source of future retirement income will be. This leaves widows and divorcees vulnerable when they find themselves single again, and could contribute to a general lower knowledge about money matters. According to studies by Dr. Annamaria Lusardi, director of the Financial Literacy Center, women score 12 percentage points lower than men on tests about concepts such as inflation and diversification, as well as other measures of financial literacy.
What’s a Woman to Do? While all those statistics can be discouraging, the good news is that there are plenty of solutions. Here are the steps all women (and the men who love them) can take.
Become a money master. Regardless of whether you’re single, married, or living in a hippie commune where no one bathes but someone has to pay the bills, make sure you keep learning about financial planning and have a hand in the household finances. According to a study from Hartford Financial Service and the MIT AgeLab, couples who share the financial housework are more prepared than couples that rely on just one member to do all the financial lifting; the former group is more likely to have saved more and developed a plan for what will happen when one spouse passes away. This doesn’t mean that each spouse must do everything together, but it does mean that each spouse should know enough about what’s going on, and how to manage the family finances in the case the other spouse becomes ill or passes away.
Manage the couple’s benefits with the survivor in mind. The timing of when one spouse begins receiving Social Security and pension benefits (if any) can affect the financial security of the other spouse. The questions to ask are: 1) Will the primary beneficiary receive a larger benefit for delaying, and 2) how much of the benefit will go to a surviving spouse? In the case of Social Security, the benefit does increase for each year of delaying, which can be very important source of income for a retiree whose lifetime earnings record is not as high as her or his spouse’s, because that higher benefit will continue to the lower-earning spouse when the higher-earning spouse passes away.
Be ready to be on your own. The last time I covered this topic in a GRS post, a reader linked to a New York Times article, written by a woman who had once been an advocate for stay-at-home motherhood:
So I was predictably stunned and devastated when, on our 40th wedding anniversary, my husband presented me with a divorce. I knew our first anniversary would be paper, but never expected the 40th would be papers, 16 of them meticulously detailing my faults and flaws, the reason our marriage, according to him, was over….
The judge had awarded me alimony that was less than I was used to getting for household expenses, and now I had to use that money to pay bills I’d never seen before: mortgage, taxes, insurance and car payments. And that princely sum was awarded for only four years, the judge suggesting that I go for job training when I turned 67. Not only was I unprepared for divorce itself, I was utterly lacking in skills to deal with the brutal aftermath.
I hate to be so cynical as to suggest every person should be ready to become single at any moment, but I do think everyone should have a Plan B at the ready.
Delay retirement until everyone is ready. The decision to retire should not be based solely on whether both spouses have enough money to cover expenses, but also on whether a surviving spouse would be secure should the other spouse pass away. According to the Hartford study, the typical widow sees her income drop 50% when the husband passes away, yet expenses drop just 20%. To make sure they have enough in their later years, people should continue to work — and save — until they have enough to survive on their own, and not retire just because their spouse does.
Everyone should know the team. If you use any financial-services professionals — accountants, advisors, attorneys — both spouses should know at least enough to know what they do for you, and how to contact them. If you don’t use pros because one spouse does the work, you may want to begin assembling a team in your later years to smooth the transition in case that one spouse is no longer able to do the job. You can start with a fee-only financial planner, such as those who belong to the Garrett Planning Network or the National Association of Personal Financial Advisors.
The Times, They Are A-changin’ These kinds of posts can be tricky, since they’re based on generalizations that obviously don’t apply to every woman or couple, and can come off as sexist. To be sure, I know plenty of couples in which the wife is in charge of the household finances. These folks tend to be younger, which is why I think the difference in retirement prospects for women and men is partially a generational issue. It’s certainly my experience that women in their 70s — like my mother, who found herself divorced and re-entering the workforce in her 50s — are more comfortable leaving all the financial housekeeping to their husbands, and also less comfortable talking about money. Maybe that’s just my personal experience. But I do hope, as the income gap between men and women shrinks, and more men share in the child-raising responsibilities (for example, The Motley Fool offers paternity leave to new dads), that a post like this will be largely unnecessary several years from now.
In yet another effort to push mortgage lending firmly into the 21st century, loanDepot has debuted its proprietary “mello smartloan” technology, an end-to-end digital mortgage loan intended to cut out the paperwork and lengthy turn times.
It should also make the process a lot more secure, with less sensitive information floating around the web via email from borrower to lender.
loanDepot claims it made history with this launch, so let’s learn more about it.
mello smartloan Can Generate a Real Loan Approval in Just 7 Minutes
loanDepot claims its new proprietary loan engine technology is really fast
With real loan approvals generated in as little as seven minutes
The process is less paperwork-intensive and more secure
It can reduce fraud, lower costs to both lender and borrower, and create a better overall customer experience
Aside from being a more secure lending platform, mello smartloan is built for speed, similar to many of the other new offerings we’ve seen lately in this space.
The mortgage loan process can be very lengthy as it often takes anywhere from 30-45 days to close a mortgage, something that just won’t do in today’s era of instant gratification.
Coincidentally, the company claims it can provide a customer with a full loan approval in as little as seven minutes, which happens to be a minute faster than Quicken’s Rocket Mortgage.
So if you’re short on time (or patience), this might be just the ticket for you. Of course, timing isn’t everything. We also have to consider pricing, which will stick with you for as long as 360 months if you go with a 30-year fixed.
While convenience is great, a lower mortgage rate is probably a lot better, even if you have to put in a little more time.
How mello smartloan Works
Income, asset, and employment information are imported digitally
This data is then “intelligently processed through proprietary loan engines”
At which point loan options are presented to the borrower if they are approved for financing
The closing and funding process (and potentially the appraisal) are also digital to greatly increase speed and increase security
It’s different from “traditional mortgages” in that each step of the process is digital, as opposed to paperwork-intensive.
With just about any mortgage, you’re required to send the lender financial information such as income, asset, and employment documentation.
This allows the underwriter (or automated underwriting system) to determine if you’re eligible for certain loan programs based on your ability to repay the loan.
Because mortgage lenders are committing hundreds of thousands of dollars or more, they’ve got to be pretty thorough.
It’s for this reason that obtaining a mortgage has been so painstakingly long. What companies like loanDepot are attempting to do is speed up the process while also making the underwriting more reliable.
Sounds like a dream come true, right? Well, it’s no longer a dream, and will soon be a reality for all mortgage lenders.
What’s great is that these digital processes can actually reduce fraud and improve the customer experience, while also lowering lender costs, which sounds like the ultimate feat.
They can manage this because all that borrower information is now validated digitally.
Instead of sending over bank statements in PDF format, companies like loanDepot are granted access to your bank account information and can instantly import it into their loan decisioning engine.
That’s not only faster, but also more accurate, and it should be a lot more difficult to game the system.
The same digital process connects your income and employment, similar to how a credit report (and scores) are generated on the fly from the credit reporting agencies.
From there, the lender has all the key pieces of information it needs to generate an underwriting decision.
Instead of asking you how much you make, how much you’ve got in the bank, where you work, what you think your credit score is, they go straight to the source.
This allows their proprietary loan engines to almost instantly determine the loan options available to you that will provide the greatest potential cost- and/or time-savings.
Then one of the company’s 2,000+ loan officers can get involved and help guide the customer accordingly.
Time to Close a Mortgage Can Be Reduced by 75%
loanDepot projects that loan closings can be reduced by up to 75%
Which means some borrowers may be able to get a mortgage in as little as 8 days
However only about half of borrowers will be able to take advantage of mello smartloan
Because of issues like self-employment or other factors that prevent digital verification
Aside from making things a lot easier for the customer, something that will likely jibe well with today’s impatient consumer, turn times should also be drastically reduced.
loanDepot claims time to close can be condensed by as much as 75 percent, slashing the time it takes to get a mortgage to just eight days in some cases.
Of course, for that to happen the borrower will likely need to be of the vanilla variety, meaning everyday W2 employee (not self-employed) with nothing funky going on in their loan file.
Oh, and they’ll probably need to get an appraisal waiver to skip that lengthy step too, something that Freddie Mac has been working on since last year.
What might separate mello smartloan from the other digital mortgage offerings is that their paperless process exists from start to finish, including the closing and funding portion.
loanDepot projects that up to 55% of new applicants will be eligible for their digital home mortgage experience, with some left out thanks to things like being self-employed.
Additionally, these same customers may also enjoy favorable mortgage rate pricing due to lower overhead costs associated with the rollout of the technology.
Of course, loanDepot says it invested more than $80 million on the technology, so always take the time to shop around.
loanDepot, which has only been around since 2010, has funded over $165 billion in mortgages and currently ranks as the nation’s 5th largest retail mortgage lender and 2nd largest nonbank lender behind Quicken.
They’ve even been rumored to be a potential acquisition target for Amazon as a means to get into the lucrative mortgage space.