New Jersey is no longer the wealthiest state according to new data from the U.S. Census Bureau. Maryland, you’ve finally arrived!
money
Caution Advised Before Paying Medical Bills By Credit Card
By 8.30.07
Thanks to universal default, in which one credit card issuer can elect to raise your interest rate if you fall behind on the payments on another credit card, consumer advocates urge extra carefulness when paying large medical bills by credit card. Instead, first try working out an extended payment plan with the care provider.
Non-Profit Payday Loans: Loansharks With Shorter Teeth?
By 8.28.07
That’s a lady who is finally digging herself out of a payday loan hole with the help of a “non-profit” payday loan. At one point, Truckey was paying $600 a month in finance charges alone. Now she has a new loan through GoodMoney, operated by local credit union. The new loan’s APR is only 252%, about half what she was paying before.
Lyn's 2-Person Budget Spreadsheet
By 8.28.07
Reader Lyn sent us a budget system he drafted that has worked well for his household, as well as friends and family.
Are "Customized" Textbooks A Scam?
By 8.24.07
NPR takes a look at the growing popularity of “customized” college textbooks—textbooks that have pieces from different books sewn together, usually with a chapter or two by the professor teaching the class.
10 Reasons Credit, Debt and You Should Be BFF
By 8.21.07
Rebutting “Ideas For Living Without Credit Or Debt,” Blueprint For Financial Prosperity came up with 10 reasons why credit and debt can be great. Here’s a good one (and one that we ourselves have made in the past):
Ben Stein Talks Retirement
By 8.21.07
The series is full of good, basic information on the fundamentals of retirement planning — a great resource for those wondering how to plan for retirement as well as those who need a brief refresher course on the subject.
By 8.21.07
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A study found that making purchase decisions based on emotions leads to sub-optimal results. [Eurekalert via Lifehacker]
Bank Of America's ATMs With Envelopeless Deposists Are Great
By 8.20.07
Bank of America has rolled out over the past yearATMs that don’t require you to put your money or checks in an envelope when you deposit. Just shove the bills and checks in the slot. Vincent Ferrari saw the new ATMs in Queens and sent us the scan of the flyer that was sitting next to them, writing, “I know you aren’t huge fans of Bank of America, but the new ATMs are undeniably cool…”
By 8.20.07
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Easy credit of dubious worth isn’t some new and unparalleled scandal; in fact, our nation’s economy was built upon it. [New York Times Magazine]
Personal Finance Roundup
By 8.17.07
A primer: Hedge funds, private equity, venture capital [USA Today] “Can you explain the difference between hedge funds and venture capital?”
By 8.15.07
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Smaller-fries investing diversely will still experience queasiness, but they’re seen as pulling ahead in the long-term; it’s more the fancy pants cats using esoteric financial instruments like hedge funds and derivatives who have the most to fear in the current crunch, NYT reports.
By 8.15.07
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Get exhibitionist with your money online and share your personal finances with strangers using Web Worker Daily’s 10 Ways to Socially Manage Your Money.
Mortgage Payments Shouldn't Exceed 28% Of Your Income
By 8.14.07
Those with option-ARM mortgages ratcheting up to a higher APR in October, take note: A well-polished piece of advice for home owners is that mortgage payments, including principal, interest, insurance, and taxes, should not be more than 28 percent of your gross monthly income, according to the August issue of the USAA member magazine. Individual situations may vary, but the basic idea is not get more house than you can afford. Around 28% gives you enough to take care of day-to-day living expenses and food and gas and going to see Transformers and whatnot.
Arbitration Firms Fail To Disclose Conflicts Of Interest In Consumer Disputes
By 8.13.07
The Donald’s lost 80% of their $60 mil stock portfolio after following the advice of Piper Jaffrawy, which told them to keep their money in Level3 Worldcom stocks well after the tech bubble imploded, the New York Times reports. As of April 18th, 2001, the firm still rated Level 3 a “strong buy,” even though the stock had dropped to $13.06 from $50…
Four Steps to Take If You Hate Your Job
By 8.13.07
Financially speaking, your career is your biggest asset and you need to do all you can to maximize the financial benefits from it. Furthermore, most people also want to enjoy what they do for a living since a good part of their lives is lived at work. So if you’re in a dead-end position or if you really hate what you’re doing, Yahoo offers some concrete steps you can take to make a change:
