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The Daily Digm (News)

All I Wanted Was Some Extra Money and Freebies.



Gabriela Herman for The New York Times

Blog post written by Elesia McCray, BankMobile’s Top 2015-16 #BankMobilist and Summer 2016 BankMobilist Coordinator Intern.

Last summer, I started looking at different career sites; I got interested in brand ambassador positions because they appeared to pay well. After searching and searching, I came across an ad for BankMobile’s BankMobilist Program. I looked it over, got excited by the benefits, and decided to apply. The program offered great resume builders like providing tools and training on how to upgrade your marketing skills, communicate with a wider audience, and be part of a team.

Soon after, I received an email about the position (which I had totally forgotten about LOL). Getting a more thorough outline of the program made me more excited about the opportunity because it laid out everything that was expected of me with room to be creative. I was going to be allowed to market BankMobile the best way I knew how, while also learning new ways to market the brand. After reviewing the position, I had an interview, talked it over with the ‘rents, and before I knew it I was a BankMobilist!

As a BankMobilist

As a BankMobilist, I was required to complete tasks each month (like encouraging friends to sign up for a BankMobile account, or BankMobile’s Membership Program if they wanted to get to know BankMobile a bit better first). My friends were always grumbling about the ridiculous fees their banks were charging, so it was easy for me to have conversations with them about what BankMobile offers. Friends seemed to be especially excited about how they could get access to 55,000 surcharge-free ATMs in the United States when banking with BankMobile. For me, this type of access meant that I didn’t have to travel 30 minutes to a bank branch to get money like others in my small town did; I could walk in my student center and use the ATM right there; no hassles, no fees. Don’t get me wrong, I did have some friends who were not ready to open new bank accounts, so that’s when I decided to focus on membership sign-ups and sharing BankMobile-related social media posts with my personal social media community.

Before becoming a BankMobilist I didn’t really have an interest in banking or finances, but as I began speaking to my friends about BankMobile, I found myself getting into debates about other banks and the shady things thing they do; something I definitely wouldn’t have pictured myself doing before! Once, I posted on one of my Facebook groups about BankMobile and someone replied telling me that their bank offered surcharge-free ATMs too, but only if she jumped through a bunch of hoops! Well, I was able to confidently inform her that BankMobile offers 55,000 surcharge-free ATMs, no matter what!

After working with BankMobile for two semesters, I was shaping up to be one of the most successful BankMobilists (!) and was invited to interview for one of their (paid) summer intern roles in NYC. That was a big deal for me, as someone coming from Michigan. Going to NYC for the summer is what students dream of! Spending the summer in New York wasn’t exactly in my after college plans… I was planning to dance all summer, and take a trip to Vegas and LA (a sweet graduation gift from my parents). But I definitely wasn’t going to turn down this incredible opportunity gained from my hard work all year!

After two interviews, I was that one graduate who didn’t have confirmed plans after graduation… I got loads of “good luck” messages and support from peers; I wasn’t the only one awaiting the final decision! My summer plans were all put on hold; can’t plan a vacation if I’m going to have to find a place to live in New York; can’t apply for jobs in Michigan if I’m not sure if I’m going to be in Michigan…Not gonna lie, I was on the edge of my seat every day until I heard the news!

elesia mccray - bankmobile intern

As a BankMobile Intern 

But guess what? I GOT THE INTERNSHIP! A couple of weeks after my second interview, I got the call I had been dreaming of! How exciting! Although, much like its reputation, things move quick in NYC and I only had 2.5 weeks to find a place to stay (you can breathe, I have a home)! Today, I am living the great life in New York, enjoying my internship with BankMobile.

What was your first job after college? Becoming a part of the BankMobile team has been great; who would have thought my search to make some extra money would lead to an amazing Internship in NYC? I’ve learned a lot over the past year and nationally expanded my network.


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The Daily Digm (News)

Credit Union Loans Getting Riskier + How-To Not Get Risky with Your Student Loans



Credit unions have increasingly taken on high-risk loans, which could lead to borrowers or taxpayers getting burned in the event of another financial crisis, reports The Wall Street Journal. The member-owned alternatives to banks are designed to provide lower borrowing costs and higher deposit rates. Yet, credit unions’ assets have grown almost twice as fast as those of banks over the past ten years. High-risk loans from banks contributed significantly to the 2008 financial crisis. This is dangerous because unlike a traditional bank Credit Unions are owned by its members so it is the members who stand to lose the most. But how can you make your Credit Union loans less risky? This is the same question we ask when it’s time to pay off our student loans. Who will be the first? Or How can you pay off your loans faster? Here are six ways:

1. Develop a plan

Develop a plan to pay off your student loan debt before you graduate.

2. Save your money

Each summer throughout your college education, get a job or internship. Save half the money in a high-interest savings account. After a few months, consult a financial advisor to earn the highest possible return on your money. After college, you can use the money saved during all four years to pay down your college debt.

3. Consolidate your loans (But use caution)

Consolidating student loans combines your loans into one payment but may or may not provide you with a lower interest rate. Do extensive research before consolidating your student loans. In addition, you may not be eligible for various student loan forgiveness programs if you consolidate your student loans.

4. Exchange work to reduce debt

Perform volunteer work or work for the following in exchange for reducing student loan debt: teaching in certain locations with low-income students or areas with a shortage of teachers, providing legal and medical services in low-income areas or working for Americorps or the Peace Corps.

5. Get a work-study job

To help pay for the costs of college get a work-study job on campus to help defray the cost of college. Go to your campus employee office to ask about their work-study program. Work-study jobs pay at least the minimum wage for that state.

6. Apply for grants + scholarships

Apply for as many grants and scholarships as possible. Unlike loans, grants and scholarships never have to be paid back. Some grant websites are,,,, and

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The Daily Digm (News)

Black Friday Sales Could Hit $7.4b + How to Control Your Cyber Monday Spending



You get a deal, you get a deal, you get a deal and you get a deal!!! This year everyone from Amazon, Walmart and Target are offering “holiday deals” ahead of Black Friday so it’s safe to say, Black Friday isn’t even a thing anymore? Right??? Wrong!!!! Looking at early numbers Black Friday is very much alive and well. According to CNBC shoppers spent a record-high $4.2 billion online on Thanksgiving, a 14.5% increase from last year. In addition, their data suggests Black Friday online sales are expected to hit $7.4 billion, with shoppers having already spent $5.4 billion as of 9 p.m. ET, or a 22.3% increase from last year. 

While we know that Black Friday is intended to help us save money on things we wouldn’t purchase anyway, Black Friday has now been fueled by intense FOMOOD (Fear of Missing Out on Deals). The pressure of having to amass dozens of holiday gifts coupled with the frantic message that you’ll never see these deals again often sends shoppers into a tizzy of overspending, eventually culminating in personal debt.

To avoid the deep despair that can haunt your bank account long after Thanksgiving weekend, heed the following tips:

1) Be honest: how much can you afford to spend on Cyber Monday?

Try to answer this question rationally and honestly. Do you live paycheck to paycheck, or have you saved up a little bundle that you can use on deals? Make sure that if you are going shopping on Cyber Monday, you’re not behind on any bills, and you are not using your credit cards to finance your splurging.

2) Think like Santa Claus and make a dang list.

It’s all about planning ahead. If you go into the insanity of Black Friday shopping without a plan to keep you tethered to reality, you’ll get swept up in the excitement of seemingly attractive deals and overspend, resulting in a buyer’s remorse that could ruin the whole holiday season. So make that list — and stick to it.

3) Figure out a hard budget.

It’s easy to go into Cyber Monday, believing you’ll be cool and rational and definitely won’t spend too much. You’re too smart for that, right? The most clever thing you can do is sit down ahead of time and figure out a hard budget — an amount that you’re sure you can spend — and write it down so you won’t forget. Without any limits set ahead of time, you can quickly go broke without even realizing it.

4) Only use cash — and leave all credit and debit cards at home.

This one’s tough, but you’ll be glad for it in the end. Once you’ve figured out your budget, take out that amount in cash so you’ll have solid, visual evidence of exactly how much you have left to spend.

This trick won’t work if you also bring along credit and debit cards; however, because the temptation to use them will become overwhelming. Despite your preparation, there will be many tempting deals that may cause you to go temporarily insane, and with access to money at your fingertips, that can be a dangerous blow to your finances. Keeping your cards at home removes the ability to fold to temptations.

5) Don’t be overcome by emotions.

There’s a dizzying, frenetic energy to Cyber Monday, what with all the “once a year” deals demanding that you buy now or forever hold your peace. Combined with the sentimentality of the holidays, when you may be feeling more generous than usual, it becomes a perfect storm of excitement, obligation, and anxiety, causing you to spend beyond your means.

Don’t forget that retailers are actually playing upon these emotions in order to get your business. In fact, the reason why Black Friday is called Black Friday is because this is the day consumers (you) help retailers (them) get in the ‘black,’ which in accountant terms means profitable. See, they aren’t even hiding the fact that they are using you for their gain. And the reason they don’t have to hide it is because they get you to buy by appealing to your emotions. Toughen up and don’t be lured into spending money you don’t have.

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The Daily Digm (News)

Mcdonald’s Settles Its Wage Dispute + How to Settle Between Being an Employee or Entrepreneur



McDonald’s has finally decided to end a multi year-long dispute in California over wages by agreeing to pay $26 million to cooks and cashiers who say the fast-food giant didn’t pay them enough for their work. Tens of thousands of workers are behind the class-action lawsuit, which alleges in part that McDonald’s planned shifts so as to avoid paying overtime to its workers and did not allow fair breaks during shifts. McDonald’s denies any wrongdoing.

Issues like this has many people wanting to be their own boss, but what are the pros and cons of entrepreneurship vs. being an employee?

Employee Benefits vs Do It Yourself

As an employee, you get benefits, which include health, dental, vacation, sick leave, and holidays. This allows employees to have some time to create a work-life balance. They can enjoy paid time to work on personal relationships, hobbies, exercise, or just get some rest.

As an entrepreneur, you do not have a guaranteed income, so if you don’t work, you don’t get paid. Many entrepreneurs don’t consider this, so a lot of them find themselves stressed out and overworked. For those who plan early enough, they budget accordingly to afford themselves some rest and relaxation

Guaranteed Income vs. Unlimited Income Potential

Obviously, a huge advantage of employment vs. entrepreneurship is guaranteed income. As an employee, you get a fixed amount of money deposited on a weekly, bi-weekly, or monthly basis into your bank account, which means you get afforded some level of financial security. But in the same breathe as an employee, your income is limited to what you agreed on as your salary or hourly rate, which means you are capped on the amount of money you can make.

As an entrepreneur, you have unlimited income potential, which means there are no ceilings when it comes to your income. If you put in the work and sell the right products or services, you can make a lot of money, but on the flip side, there can be months that you go without a deal or steady income and other months where the faucet is overflowing.

Fixed Working Hours vs. Flexible Working Hours

As an employee, you will agree on a fixed amount of hours and schedule in which you will work. Overtime or any extra hours needed will be worked at the employee’s discretion and can include time and a half pay. Sometimes instead of extra pay, you can agree to get comped time, which means you get extra time off.

As an entrepreneur, you choose your working hours. Many entrepreneurs work 80-hour weeks when they’re first starting out, but eventually, they will get people and resources to allow them to sit back and work as little as possible.

Less Responsibility vs. Everything is On You

As an employee, you are often assigned a particular role and are only responsible for performing the tasks that are directly related to that role when you are working. You don’t really have to worry about how others are performing in other parts of the company because they too have their roles, and you are responsible for you.

As an entrepreneur, you are responsible for everything. You are the janitor, the cook, sales, marketing, promotion, operations and everything else in between.

There are many other differences, but based on what you read so far, which would you choose? There’s no right or wrong answer, and honestly, the decision should be made based on your preference. There are many successful employees who love what they do and thrive, and there are many entrepreneurs who wouldn’t trade their life for the world. Ultimately it’s about your happiness and what makes you feel full. I believe that And is better than Or, so if you get stuck on making a decision, try both.

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