BankSimple: NYC-Based Online Bank

I heard about Bank Simple last fall.  The website is a simple, stripped-down site that lets you bank.

From NYConvergence:

This fall, BankSimple plans to serve an initial 10,000 customers, giving members a single card that functions like a debit card, while being linked to a small credit line. Customers can get cash from 50,000 ATMs in small banks, stores, etc. throughout the U.S. Through this is an Internet-only bank with no branches, its goal is for customers to be able to set financial goals and to establish another means to have a bank, without being in its traditional form.

Intuit’s Second Annual Entrepreneur Day is August 16

Intuit is hosting its second annual Entrepreneur Day on August 16 at their headquarters in Mountain View, California. The deadline for submission is Friday July 16.  Last year, Intuit organized the first Entrepreneur Day where 40 companies met with senior business leaders and propose how they could collaborate with Intuit to develop new products and services.  On August 16th, Intuit co-founder Scott Cook will kick off the day by sharing reflections from his experience as an entrepreneur and open up the discussion to participants. Intuit leaders will give a first-hand introduction to Intuit’s overall strategy as well as strategies specific to business units. Companies at the event will participate in “speed-dating” sessions during which they will pitch their idea to Intuit business unit leaders. Finally, the day ends with a social hour where invited companies and Intuit innovators get to showcase their innovations while enjoying food and drink.

Credit Cards: You Can Live Without Them

I don’t own a credit card, and I am fine.  Today, I read this post from fashion maven Gala Darling about she lives without a credit card, which makes it easier for to only spend what she earns. Gala says:

The fact of the matter is that I only recently moved to America, & as I have absolutely no credit history here, it would be nigh impossible for me to get a credit card (even if I wanted one, which I don’t!). This puts me in the position of actually having to EARN my money BEFORE I spend it, & while this may sound like an epic drag, it is one of my keys to being financially secure. (Putting a bunch of your money into savings every month is obviously another good step!)

If you rationalize keeping a credit card for making purchases online or where cash is not accepted, then use a debit card. A few weeks ago, I talk to the founder of Perk Street Financial about their debit card.  They have a debit cards rewards program where you can earn at the minimum 1%  cash back on all other non PIN purchases on days when your  account balance is less than $5,000. If your account is $5000 or more, then you can  earn 2% back. I love this idea of rewarding people for behavior that are already doing.

Now, I am not going everyone to go into their wallet and cut up their credit cards.  Your personal finance is just that-personal.  I just want to let people that there are debit card options, and you may earn some money while spending money.

Bookmark This: Lifehacker’s Personal Finance

Lifehacker has lots of content on how to be more productive,  how to use technology and gadgets and even to how to cook things.  One thing I love about Lifehacker are their posts on personal finance. You can find all of them at

Recent topics include setting up a CD Ladder for savings and curbing impulse purchases.