Online bank Ally has launched a new free online checking account that looks pretty decent. Free ATM access, free online bill pay, free checks, with no monthly minimum balance or maintenance fees. And get this, insufficient fund fees are only $9. That’s not per item, that’s just $9 for every day you are overdrawn. [More]
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Kiefer Sutherland Roped Into $869k Bovine Ponzi Scheme
By 1.27.10
Actor Kiefer Sutherland has lost $869,000 to a con-man who roped him into a bum cow investing scheme. Shyster Michael Wayne Carr had a plan to buy cows in Mexico and sell them in the US for a profit, but allegedly never bought the cows and sold cows that weren’t his. [More]
Personal Finance Roundup
By 1.27.10
6 ways to get top dollar for your car [MSN Money] “Some sprucing up and savvy marketing can help you sell your vehicle for a lot more cash than a dealer would ever offer you.”
Headed for an Outlet Mall? Wear Your Thinking Cap [Smart Money] “Use these six tips for make sure you’re getting the best deal.”
Recessionomics 101: How to Make Extra Money [Wall Street Journal] “Fortunately, there also are many ways to earn extra cash even when full-time jobs and extra shifts aren’t an option.”
Giving to Haiti?
There’s a Tax Benefit, Too [Kiplinger] “Itemizers don’t have to wait until they file their 2010 returns, but some might want to.”
Beware the 4 new asset bubbles [CNN Money] “We’re now seeing the same signs that exposed the frenzy in real estate: prices flying far above their historic averages.”
The Debtor Debt Collectors Hate To Call
By 1.26.10
Craig Cunningham has made $20,000 from 18 lawsuits he’s filed against debt collectors for violating the Fair Debt Collection Practices Act (FDCPA). In fact, it’s something a part-time job/hobby for him. To ensnare his first FDCPA-violating collector, with voice recorder running, he called back the number they left on his answering machine, and asked: [More]
Watch Out For These Tricks After The CARD Act Kicks In Next Month
By 1.25.10
The credit card reform bill will go into effect at the end of February, but that doesn’t mean you should stop paying attention to what your credit card company does with your account. There are lots and lots of loopholes, notes WalletPop. For example, your card issuer can still raise rates on future purchases any time and for any reason. In addition, there’s no limit to the number of fees that can be invented and applied to your account. The only way to make sure you don’t get screwed by a profit-hungry card issuer is to read every single thing that’s mailed to you, and closely review your statement for evidence of any changes that you may have missed. [More]
Experts Answer Credit Questions From Average Americans
By 1.20.10
Henry Unger at the Atlanta Journal-Constitution has put together a multi-part series of questions and answers from readers. The detailed answers are provided by Consumer Credit Counseling Service of Greater Atlanta, and the questions–which I’ve listed below–cover a broad spectrum of personal finance issues, including credit cards, mortgages, and credit reports. [More]
Paypal Rewards Dollars: Use 'Em In One Go Or Lose 'Em
By 1.20.10
The PayPal plus rewards card earns points which can be traded for vouchers which can be used like cash to buy stuff. You have to be careful, though, and make sure that the price is the same or greater than the voucher amount. Any unused dollars on the voucher get forfeited after the purchase. Tricky! Reads those terms and conditions close, folks. [More]
Personal Finance Roundup
By 1.20.10
Three Easiest Ways to Earn More Money [Free Money Finance] “Here’s how I’d rank the three easiest ways to earn more money.”
Why Haven’t You Donated to Haiti Yet? [Smart Money] “As economists and social scientists have begun to dig around in recent decades into people’s true motives when they give to charity, what they’ve found hasn’t exactly been in keeping with the flattering way we humans like to see ourselves.”
Gourmet Coffee Recipes: Make Your Own Starbucks Coffee Drink [The Digerati Life] “You don’t have to spend money on that $4 latte if you’re fine with the DIY approach.”
4 smart fixes for your 401(k) [CNN Money] “To move beyond square one, follow these four steps.”
How I Got Married on the Cheap — And Loved It! [Get Rich Slowly] “How do you plan a wedding for a dozen people on $3000?”
Prosper.com May Be Riskier Than You Thought
By 1.19.10
The person-to-person loan website Prosper.com has been talked about in mostly positive ways since it launched a few years ago. Mark Gimein at Slate’s The Big Money says it’s a lot less awesome than you’ve been led to believe. In fact, he says it’s just a microcosm of what happened in the real financial world: “Loans to unqualified borrowers; reliance on mathematical models that turn out to be a lot less useful than they seemed; failed hopes that high interest rates could make subprime loans profitable; sky high default rates [of 39%]—Prosper has it all.” [More]
Are Corporate Boards Ruining American Businesses? This Book Says Yes
By 1.15.10
The new book Money for Nothing looks at corporate boards: how they’re frequently hand-picked and ruled by the CEOs they’re supposed to keep in check, how they’re sidelined by various conflicts of interest and lack of accountability, and how the worst ones have massively screwed shareholders. [More]
4 Reasons You're Dumb With Money
By 1.13.10
Science has proven that you are stupid with money. Four recent experiments give insight into the irrational ways you use your money that could be chopping down your bank account. My favorite one involves how credit cards make you end up spending more than they normally would: [More]
Personal Finance Roundup
By 1.13.10
Are You Tracking Your Budget, Cash Flow, and Net Worth? [Dumb Little Man] “Tracking your net worth on some sort of regular schedule is a must for anyone serious about decreasing debt and increasing wealth.”
11 moves to supercharge your finances [Smart Spending] “11 steps you can take to easily improve your finances in the coming year.”
The Damage of Card Rewards [NY Times] “It’s possible that the poor pay subsidies to finance the rewards of the affluent.”
How Poker Can Make You a Better Investor [Kiplinger] “Learn to avoid emotional traps by playing a little Texas hold ’em.”
The Future of Plastic: 5 Credit Trends for 2010 [Smart Money] “If 2009 was the year of hammering out credit-card reform, 2010 will be the year consumers feel the effects of those changes.”
Gov To Hit Banks With New Fees
By 1.11.10
The White House could be planning to start charging banks new fees as a way to trim the deficit, get paid back for the bailout, and teach bankers a lesson they hasn’t sunk in yet. What?! A fee on banks? You’re crazy. Only banks are allowed to make up fees. [More]
Company Introduces Bridal-Style Registry For Paying Off Bills
By 1.8.10
BillPayRegistry is a new website where customers can create a list of bills they need paid off, and then have friends and family members make “gift” payments via the website to be applied to said bills. The site takes 5.9% off the gift amount and sets aside the rest in a fund that the registrant can only apply to the accounts listed–there’s no way to cash out the funds, in other words. [More]
How To Make Sure Your Marriage Isn't Costing You Money
By 1.6.10
Liz Davidson at Forbes has an article about ways you and your spouse can fine-tune spending and investment patterns so that your marriage isn’t a financial drain. It’s easy enough to compare financial health before marriage (although lots of couples don’t do it, she notes), but even if your net income increases, your net worth could flatline or drop: [More]
Personal Finance Roundup
By 1.6.10
10 Steps to Financial Success in 2010 [Get Rich Slowly] “Here are ten simple but effective steps you can take to build a better financial future.”
The Best and Worst Jobs for 2010 [The Wall Street Journal] “The findings were based on five criteria: environment, income, employment outlook, physical demands and stress.”
Money 70: Best mutual funds and ETFs [CNN Money] “Our recommended list of mutual funds and ETFs will help you buy and hold your way to your long-term goals.”
6 Ways to Cut Gym Membership Costs [Smart Money] “Many new members can cut their costs by as much as 50%. Here’s how.”
Should you ‘Buy This Now!’? [Consumer Reports] “Usually not, based on our tests of 15 infomercial products.”
BoA Explains Fees With Pretty Lady On Talking Website
By 1.4.10
Bank of America launched a new sub-site to help explain their banking penalties to fee-curious customers. I always feel safer when my website talks to me and pretends to be alive so Bank of America has also included “Janet,” a walking talking video actor to help guide me through the process. I appreciate that she is wearing no belt. It sends the signal, “hey, we’re keeping it cas.” [More]
Move Your Money From Big Banks To Small Ones
By 1.4.10
The canaille likes to bitch that big banks haven’t been punished enough, so why not put your money where your mouth is? That’s the premise behind “Move Your Money” which encourages everyone to withdraw their savings from the pockets of the pimps of Wall Street and redeposit with well-rated community banks. [More]
