Is a spending diet right for you? Here are the benefits and drawbacks
A spending diet can help you pursue your financial goals and save cash. Here’s how.
6 min read
Jul 25, 2024
Karen Bennett
Senior consumer banking reporter
EXPERTISE
- Banking
- Personal finance
- Credit cards
EDUCATION
- Bachelor’s degree in English, University of Illinois
- Master’s degree in journalism, Columbia College Chicago
Karen Bennett is a senior consumer banking reporter at Bankrate. She uses her finance writing background to help readers learn more about savings and checking accounts, CDs, and other financial matters.
Karen brings decades of writing and reporting experience to the table, including the roles of credit cards writer for travel website Million Mile Secrets and money and career writer for The Cheat Sheet. Her work has also appeared in USA Today, Illinois Legal Times, and several Chicago, Milwaukee, and Washington, D.C. newspapers. In addition, she’s worked in the areas of marketing and business development, and she was product manager for a consumer money-saving website.
When she’s not writing Bankrate articles, she can often be found cheering her kids on at soccer games, cooking and reading up on saving for retirement and other personal finance topics.
Karen's latest articles
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What is compound interest?
Compound interest is a powerful force for people who want to build their savings.
4 min read Jul 23, 2024 -
Are CDs worth it right now? Here’s what experts say
With a possible recession looming, here’s what savers should know about CDs.
4 min read Jul 18, 2024 -
Is there still such a thing as a 6% CD?
I’ve often referred to 2024 as the year of the certificate of deposit (CD). In tracking CD rates on a daily basis, I’ve seen how yields remain at an overall high, thanks to the Federal Reserve raising [...]
4 min read Jul 18, 2024 -
Why is compound interest better than simple interest?
Find out why compound interest is better and how to get the best bang for your buck.
3 min read Jul 16, 2024 -
Citibank new bonuses for checking and savings accounts
Citibank’s new account bonuses are very competitive. Just be sure you won’t need those funds any time soon – dropping your account balances early can not only disqualify you from the promotion, but it may also cost you money in the form of additional account service fees.
2 min read Jul 08, 2024 -
The average American household budget
Americans spent nearly $74,000 in 2022 just to keep their households running.
9 min read Jul 08, 2024 -
What’s the difference between fixed and variable expenses?
Knowing how fixed and variable expenses differ can help you improve your finances.
3 min read Jul 01, 2024
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What is the average interest rate for savings accounts?
Comparing savings rates can ensure you get the best return on your savings.
3 min read Nov 21, 2024 -
What to do if a bank rejects you for a checking account
Your banking past has come back to haunt you. Here’s how to ask for a second chance.
3 min read May 02, 2024 -
APY vs. interest rate: What’s the difference and why it matters
Here’s the difference between APY and interest rate.
4 min read Aug 31, 2023 -
What is a SWIFT code?
You’ll need a SWIFT code for international wire transfers. Here’s how to find one.
2 min read Aug 14, 2023 -
How to join a credit union: Here’s what to do to become a member
Here’s what you need to do to become a credit union member.
3 min read Jul 18, 2023 -
6 ways to manage finances with multiple income streams
These strategies will help you manage multiple income streams.
4 min read Jul 18, 2023 -
Saving money from your summer job: Top tips for students
These tips can help students maximize savings from their summer job earnings.
3 min read Jul 17, 2023 -
5 tips to make sure revenge spending doesn’t wreck your wallet
As you look ahead to opening your wallet again, consider these key tips for avoiding revenge spending.
4 min read Jul 12, 2023