New insight into how the credit card companies have been secretly judging us all has emerged in a new Federal Reserve report. From Nov ’06-Nov ’09, some credit card companies admit to using more than just the usual income, credit and repayment history to evaluate if they should reduce your line of credit or raise rates. Yep, they’re looking at where you shop. [More]
personal finance
Personal Finance Roundup
By 6.16.10
10 Unusual Ways to Save Money Now [US News] “Here are my suggestions to take savings to the next level.”
The costly secrets in your 401k [MSN Money] “Paying as little as 1% extra in fees can mean thousands less for retirement. So why is figuring out what you’re paying for your plan almost impossible?”
Five Big Ways You Need to Think About Christmas … Now! [The Simple Dollar] “Just a little bit of forethought right now can save you a ton of time, effort, cost, and heartache this December.”
15 most hated fees [CNN Money] “Stand up to the pesky charges — from checked-bag costs to retirement plan expenses — that bug you the most.”
4 Things That Are More Expensive Than You Think [Yahoo Finance] “The true cost of an item can often go unnoticed and consumers end up paying much more than they bargained for.”
Washington Wants Better Oversight Of For-Profit Colleges
By 6.15.10
Enrollment in for-profit colleges like the University of Phoenix, DeVry University, and Kaplan University–Gawker calls them fake colleges–tripled in the past decade, and has become such a fast-growing segment of the education market that some members of Congress think it needs better oversight. [More]
How Card Issuers Sneak Around New Laws
By 6.14.10
Crafty credit card issuers aren’t going to let a little thing like the law get in the way of their profits. Nope, they’re finding creative ways to get around the pro-consumer CARD act and maintain their grip on your pocketbook. [More]
Obama Orders Govt To Pay You Via Direct Deposit
By 6.14.10
Now you can sit hitting refresh all day instead of looking out the window every 5 minutes to see if the red flag on the mailbox is down: the White House has ordered the government to switch to direct deposits for all payments to consumers. [More]
What's The Sickest Thing You've Ever Done To Save Money?
By 6.11.10
These twenty-somethings saved money by using paper towels as coffee filters, and, at one point, when there was only old spaghetti in the house, ate a spaghetti omelete every morning. What’s the weirdest, grossest, or sketchiest thing you’ve ever done in an attempt to squeeze a nickel out of a penny? [NYT] [More]
Why Can't I Ever Save Any Money?
By 6.10.10
So you got that bank account, you even were smart and made sure to get an online savings account, so you get that higher rate of return, but gosh darnit, it just never seems to get any bigger! [More]
Debtors Increasingly Thrown In Jail. Wait, What?
By 6.9.10
Did you know you can get thrown in jail for not paying your debts? Yes, in America, in the 21st century, debt collectors are effectively deputizing local police forces to collect on debts, manipulating the system and using your tax dollars to do their dirty work. [More]
Personal Finance Roundup
By 6.9.10
Playing Gold Without Getting Killed [Wall Street Journal] “The question for investors who have remained on the sidelines until now is whether there still is an opportunity to join the stampede—and, if so, how to do it without getting crushed.”
Bonds: Avoid the next great bubble [CNN Money] “The bond market is a bubble and it’s getting ready to burst.”
That Repair Bill Is Huge, but There Are Reasons [NY Times] “Why do repairs seem to cost so much even if they don’t take long?”
6 Steps to Protect Your Home from Hurricanes [Kiplinger] “You don’t have to just sit there worrying about the weather.”
10 First Time Homebuyer Mistakes [The Wisdom Journal] “When first time home buyers finally get into their home, they can easily fall prey to several serious mistakes that can cause a large amount of financial harm later.”
CredAbility.org: 911 For Personal Finance Emergencies
By 6.7.10
If your house catches on fire, you call 911. But who do you call when your personal balance sheet catches on fire? [More]
High-Volume Sellers On eBay, Craigslist Can Look Forward To New Tax Form For 2011
By 6.2.10
If you tend to move a lot of merchandise on eBay or Craigslist, you should know that the IRS wants a share of those earnings. If in 2011 you sell more than $20,000 worth of goods and have more than 200 transactions, then come early 2012 you’ll receive a shiny new flavor of 1099 form called a 1099-K, and you’ll have to pay up. If you’re an infrequent seller, where your eBay or Craigslist transactions more closely resemble a garage sale than a virtual storefront (and especially if you sell items at a loss), you probably don’t have to worry. [More]
Personal Finance Roundup
By 6.2.10
How to Best the Other Home Buyers [Smart Money] “Here are some tips on how prospective buyers should handle a multiple-offer situation.”
10 Best Cities for the Next Decade [Kiplinger] “They’re prosperous, innovative, and they’ll generate plenty of jobs, too.”
Dumpster-Diving 101: 6 Strategies for Success [Wise Bread] “[Here’s] a six-point strategy on how to dumpster-dive safely and effectively.”
7 ways to protect yourself from cell phone overage “gotchas” [Consumer Reports] “Ideally, the big four contract carriers should send text and email alerts when you’re nearing your voice, messaging, and data limits. But until that happens, here’s what you can do to protect yourself right now.”
25 factors that affect car insurance premiums [Smart Spending] “You do have some control over how much you’ll have to pay.”
Prepare For The Unexpected With A "Stupid Mistakes" Savings Account
By 6.1.10
One thing that can derail people digging themselves out of debt are the random unexpected setbacks life likes to throw at us to keep us on our toes. The accidental parking ticket, the bike that breaks down, the illness that requires pricey pills. Any of these can be enough to upset even the most carefully orchestrated budgeting and debt payment schedule, unless, you are smart like Ramit Sethi, and set up a “stupid mistakes” sub-savings account. Here’s how it works. [More]
28 Of The Worst Money-Saving Ideas Ever
By 5.28.10
Earlier this week we asked you for the worst things you’ve ever tried to do in order to save money that really didn’t work out, and you bowled us over with your responses! Over 190 comments poured in, some utilitarian, some hilarious, others, poignant. My favorite is the grandma who bought two caskets and used them to store linens because she didn’t like the idea of buying something so expensive only to use it once. So here they are, the 28 best of the worst money-saving ideas you’ve ever had:
(pictured: some folks who don’t like the cheap haircuts they got from beauty-school students)
Guess Who Said It?
By 5.28.10
Let’s play a game. Can you figure out who said the following? “You’re a loser. Why don’t you just jump in front of a train?” “You a f***ing thief, you know. “I’m gonna find you and you gonna be walking like a b***h on the side of the street.” “I’m the guy who’s gonna end your life. That’s who I am.” Find out the answer after the jump! [More]
Stop Believing In These Credit Score Myths
By 5.28.10
Budgets Are Sexy sifts through the mysterious black magic that goes into establishing your credit score and reveals 10 myths to note when you’re making financial decisions that may affect the score. [More]
How Fraudsters Make Fake Credit Cards
By 5.27.10
There’s many ways your credit card can be stolen and exploited, but this is one of the more sophisticated: In this WIRED video, Detective Bob Watts of Newport Beach Police Department shows how crooks take your credit card numbers they steal off the internet and turn a blank plastic card into something they could swipe through a Best Buy scanner or plunk down at a fancy restaurant, complete with holograms and embossing. Using these techniques, one criminal ring racked up over a $1 million in fraud before they got busted. [More]
What's The Worst Money-Saving Idea You've Ever Had?
By 5.27.10
Some money-saving hacks you think up are awesome, but others can be categorized under “foolish frugality.” While they sound good at first, these hassle of these pyrites of personal finance can just end up not being worth the small savings. They can even cost you more in the long run, or even be hazardous. Here’s a few bad ideas gleaned from FatWallet: [More]
