Dave Ramsey: Not a fan of check cashing companies
How do you feel about check cashing companies?
As I said, I don’t feel the same way about check-cashing companies as I do about payday lenders. But it’s still not a financially smart move to regularly pay a storefront operation fees just to cash your checks.
Here’s a better idea
I’m 27 years old, and I have no debt. In addition, I have a five-month emergency fund of $14,000. Recently, I started a new job making $60,000. I’ve been offered a 401(k) with no match, but I was wondering if instead I should open a high-yield CD.
You’re doing very well at a young age. Congratulations. I’m glad you’re thinking about your financial future, too. But I’ve got a better idea.