What is the 50/30/20 budget rule?
This budgeting rule of thumb can help make tracking everyday spending easier.
4 min read
Aug 05, 2024
Karen Bennett
Senior Writer, Banking
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30Years of experience
EXPERTISE
- Consumer banking
- Savings accounts
- CD rates
- Money market accounts
- Personal finance
EDUCATION
- Master of Arts in Journalism, Columbia College Chicago
- Bachelor of Arts in English, University of Illinois
- Minor in Political Science, University of Illinois
Karen Bennett is a senior consumer banking reporter at Bankrate. Her expertise lies in finding the best savings accounts, checking accounts and CDs, as well as all things personal finance. She’s been a reporter at Bankrate since 2021, and she holds a master’s degree in Journalism and a bachelor’s degree in English.
Karen’s writing experience spans topics including bank accounts, saving money, budgeting, and credit cards, as well as lifestyle and health. She also spent time as a writer of product reviews and a reporter for local newspapers in Chicago, Milwaukee and Washington, D.C. In addition, she worked for over a decade as a writer and product manager for CoolSavings, a website devoted to saving money on groceries, travel and other products.
Karen stays on top of the latest in banking and personal finance. Topics she writes about for Bankrate include how to choose the best high-yield savings account, the latest statistics on checking account fees and ways to protect yourself from bank fraud.
On the personal finance front, Karen has covered topics such as progress for women in banking and the pitfalls of spaving deals (spaving is the act of spending more money to qualify for money-saving promotions).
When she’s not working, Karen enjoys working on her novel, as well as reading, cooking, traveling and spending time with her family.
Karen beyond Bankrate
The pillars of smart money management include having an emergency fund in a high-yield savings account, paying down debt, following a budget and living within your means.
— Karen Bennett
Karen's latest articles
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5 ways to save for an unexpected job loss
Here’s how to financially prepare for the possibility of sudden unemployment.
4 min read Jul 31, 2024 -
Reasons to have a local bank
There’s more than one way to bank. Here are the reasons to consider banking locally.
4 min read Jul 31, 2024 -
3 ways to take advantage of high CD rates
Locking in a high yield now could be beneficial in the event rates begin to drop.
5 min read Jul 30, 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 -
Meet ALICE: 29% of American households who earn above poverty level but don’t have enough to make ends meet
Barely above the poverty line, ALICE households struggle to make ends meet.
5 min read Jun 28, 2024 -
What is spaving? (And did I really need 7 boxes of Goldfish crackers?)
Today was a good day to stock up on Goldfish crackers at my local grocery store. A large sign announced that buying seven or more snack-sized cartons allows you to get them at a discounted price of $1 [...]
3 min read Jun 25, 2024 -
