Hopelessness hit 9.4% in May. Oh wait, we meant joblessness. Actually, with jobless claims about half the average loss of the past six months, could hope poised for a comeback? [NYT] (Photo: joshuahoffmanphoto)
money
6 Things To Know Now Before Buying A GM Or Chrysler Car
By 6.5.09
With the future uncertain, or at the very least, pretty different from normal, for Chrysler and GM, does it make sense to buy a car from one of these companies? How doe s the restructuring affect you as a potential new car owner? Consumer Reports Online Auto Crisis Center has the answers to six questions every Chrysler and GM car owner will want to know before signing on the line which is dotted.
2.5% Online Savings Accounts At Ally Bank (The Rebirth Of Gmac)
By 6.4.09
Even though GMAC spun off from GM years ago, they recently changed their name to “Ally” in a re-branding, stain-of-association-removing effort. Their whole game seems to be a USAA for civilians, advertising “No minimum deposits. No fees. No min balance. No sneaky discalimers.” Ally Bank is also offering very juicy APYs, like 2.25% for an online savings account, more than double the national average…
Save On Federal Student Loans July 1
By 6.4.09
If you have a bunch of variable rate Federal student loans, July 1st could be your lucky day. July 1st is when the interest rates on Federal student loans changes, and one financial id expert is predicting they’re going to drop to “historic lows.” What this means is you will have an opportunity to consolidate your variable rate Federal student loans together at the new, lower, rate, and save yourself some cash. How much?
$100 For Opening Chase Checking Account
By 6.4.09
Who couldn’t use an extra $100 these days? Chase is giving $100 if you open a new Chase checking accounts. Just go here, enter an email address, take the coupon they send you to a nearby branch, and open a new checking account. Of course, there are a few caveats: 1) You have to deposit $100 into it. 2) The $100 can’t come from another Chase account or an affiliate. 3) Within 60 days, you have to either make 5 debit card purchases, or set up direct deposit. 4) You have to keep the account open for 6 months or they take the $100 back. 5) If you don’t set up direct deposit and you don’t make at least 5 debits a month, you get hit with a fee. Still, a hundred bucks is a hundred bucks.
Make A Budget That Leaves You With No Money
By 6.4.09
Budgets are supposed to leave you money left over, right? Well, the zero-based budget takes the opposite view, and thinks you should allocate every single dollar from every paycheck so that you’re left with nothing. Well, nothing that you don’t know what you’re going to do with. The allocation can, and probably should, include savings, for example. Getting Finances Done shows you how to get started with this budgeting technique that can save you time, headache, and yes, money. To jumpstart things, here’s a spreadsheet template you can use.
Tax-Saving Moves For 14 Big Life Events
By 6.2.09
Life is full of surprises and challenges. Luckily, there’s a tax form for just about all of them. Via Kiplinger’s, here’s 14 major life events that allow for smart tax-saving moves, and how to make those moves.
By 6.2.09
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Know your financial obligations: Though you let your car get voluntarily repossessed, you’re still responsible for the unpaid balance on the loan, plus any storage and transportation fees, plus interest charges. [Bankrate]
Hoard Stuff, Use It To Back Currency Of Your Creation
By 6.1.09
Printing your own ersatz currency is legal, so long as you don’t counterfeit government notes, which explains Disney Dollars, Microsoft Points, Linden Dollars and the like. Matthew McDermott of the environmentalist blog TreeHugger points to localities and business that run successful operations that use their own currency, including Ithaca Hours in Ithaca, NY and BerkShares in Massachusetts:
65% Of Modified Loans Will Default Again Anyway, Study Predicts
By 6.1.09
Many homeowners that couldn’t afford their home the first time around, can’t afford it the second or third, a new study finds. Fitch Ratings predicts that 55-65% of home loans getting modified will end up at least 60 days behind within a year. The percentage is even higher for those in subprimes…
updated: WaMu Accounts Become *Almost* Totally Chase July 24
By 6.1.09
Starting July 24, 2009, WaMu accounts will get fully transitioned to Chase. After that, ex-WaMuers will be able to fully enjoy the benefits of Chase banking, like making deposits into Chase ATMs, the full range of Chase branch banking services, and the luxury of paying Chase’s service fees which are higher than WaMu’s were.
Best Buy Employees Find $10,000 Hidden In Computer Tower
By 5.28.09
A man in St. Louis dropped off his computer for repair at the area Best Buy, but apparently forgot that he was also using it as a bank. “Employees at a Best Buy store in South County discovered about $10,000 cash inside,” writes the St. Louis Post Dispatch.
Get Ahead By Working For Yourself One Hour Each Day
By 5.27.09
For most people, their career is their most valuable financial asset. But for those willing to make the effort, even a small one, there might be something even more valuable—a side business that could potentially turn into a very large source of income.
WSJ Asks, "Is Your Home A Good Investment?"
By 5.26.09
Brett Arends at The Wall Street Journal has compared Case-Shiller house price data to annual inflation rates, and speculates that owning a home may not be a very good investment. “You can often do better on long-term inflation protected government bonds,” he writes.
President To Sign CARD Act This Afternoon
By 5.22.09
President Obama is poised to sign the Credit Card Accountability Responsibility and Disclosure (CARD) Act this afternoon. Everyone celebrate by buying lots of steaks and hot dogs and fireworks this weekend. In cash. [AP] (Photo: northernplateguy)
Costly Private Loans Masquerade As Federal Student Loans
By 5.22.09
Some students who didn’t read the fine print are finding out too late that what they thought were federal student loans were actually private loans. The mistake is the difference between a 6% and 18% interest rate.
