The Best Financial Videos by BofA Citi Wells Fargo & Chase
Post on: 13 Июнь, 2015 No Comment
Banks and credit unions can be great resources for financial advice. In the past, making an appointment with a financial planner was one of the few ways banks could help their customers with money questions; today, with the pervasiveness of mobile and online banking. account holders can access a wealth of financial information from the comfort of their homes.
Many institutions have made it a priority to teach financial literacy to members of their communities. Instilling financial knowledge in customers is beneficial for banks because it ensures that their members are fiscally responsible and less likely to default on commitments like loans or mortgages.
The prevalence of informative personal finance videos means anyone can learn how to create a budget, develop an investment strategy or teach his children about money, among other topics.
Below is a round-up of the best financial video courses offered from banks and credit unions.
1. Bank of America: Better Money Habits and Understanding Credit
Covering a range of personal finance topics with an easy-to-follow cartoon display, Bank of America s Better Money Habits series simplifies many common money questions. The banks YouTube channel features more than 20 cartoon videos, covering topics such as How to Set Up a Budget, Steps to Help You Get Out of Debt, Easy Ways to Save on Everyday Expenses and Building Credit and Keeping Yours Healthy.
Additionally, in conjunction with Bank of Americas recent partnership with online education company Khan Academy, the bank released a series of videos in which Khan Academy founder and executive director Sal Khan moderates a discussion about credit with personal finance gurus and financial planners Farnoosh Torabi, Branden Recker, Ian Cohen and Rob Habgood.
There are four videos in this series covering various aspects of credit: how a credit score works, how to pay off debt, how to build and rebuild credit, and how to check your credit report.
2. Chase: myNewHome Series
Chase has a 16-video series on its YouTube channel that focuses on home ownership. For those purchasing their first homes or considering the costs of moving to a new property, Chases series covers four steps along the way: getting started, finding a home, financing a home and closing on a home.
Specific video topics include Buying vs. Renting a House: The Advantages of Each, First-Time Homebuyer Tips: Things to Know When Buying Your First Home, Home Affordability: Know How Much House You Can Really Afford to Buy, Closing Surprises: Prepare for the Unexpected When You Close on a House and Making an Offer: How to Make an Offer on a House, among other topics.
Real estate agents, mortgage bankers and homeowners share their perspectives and experiences in each video to help advise viewers.
This series demystifies the home purchasing process, thanks to the breadth of videos and topics covered. By segmenting out various steps and questions home seekers encounter, the series simplifies the venture and is a good resource for those ready to buy a home.
3. Wells Fargo: Investment Education
Similar to Bank of Americas Better Money Habits series, the Investment Education videos from Wells Fargo use a similar chalkboard cartoon display to help viewers understand the complex science of investing.
Narrated by Wells Fargo Private Bank chief investment officer Dean Junkans, the series explains how to develop an investment plan and grow your savings faster than inflation, as well as key principles for successful investing.
For example, in Grow Your Savings Faster Than Inflation, Junkans recommends people have additional income sources that will grow over time to meet cost-of-living increases during retirement, such as dividend-paying stocks, real estate investment trusts and other investments that produce interest, such as bonds.
This series helps viewers grasp the basics of investing and take the first steps toward growing their savings in the market.
4. Citibank: Real Life Financial Tips
Citibank has a few videos in its Real Life Financial Tips series that help viewers explore various aspects of personal finance literacy. Topics include taking control of ones career, tips for home buyers and teaching kids about money. While less structured and thorough in the breadth of the concepts covered, the series features panel discussions to help viewers obtain insights into these topics.
Additionally, in partnership with personal finance site Manilla, Women & Co. president and financial expert Linda Descano hosts a video in the series titled Raising Financially Savvy Kids. Taking the approach that mothers can have a major impact on their childrens money habits, Descano recommends turning everyday activities into lessons about money, having children observe when parents save, invest or donate, and not hiding money mistakes from children, among other tips.
The more people who are educated in basic personal finance, the better off financial institutions are when they lend money. These financial literacy initiatives help depositors make wiser money decisions, while easily explaining many concepts that can hinder financial success.