Ten Ways Banks Take Your Money [Wall Street Journal] “Here are 10 fees you should keep a close eye on.”
personal finance
Estate Planning Lessons from Michael Jackson
By 7.9.09
Let’s face it, Michael Jackson had a spotty record when it came to managing his money. Sure, he earned a gazillion dollars making music and was savvy enough to buy rights to Beatles’ tunes, but in his latter days he also spent lavishly, millions more than his annual income, and he racked up a sizeable debt. In other words, you wouldn’t want him as your financial advisor.
15 Ways To Protect Your Money While Traveling
By 7.4.09
Bankrate shares 15 tips to protect your stash of cash while traveling abroad. Before leaving, strip down your wallet to the bare essentials, including a backup credit card, and make copies of all financial documents. While abroad, stash the copies and the backup card in your hotel safe, and take common-sense precautions like sticking to legitimate bank ATMs, and avoiding crowds. Hit the link for the rundown of all 15 tips.
Personal Finance Roundup
By 7.3.09
The 10 Most Dollar-Discounted Housing Markets [US News] “Listing prices in these cities have been slashed by millions of dollars over the past year.”
Protect Your Personal Finances In A Divorce
By 6.29.09
Sources around the country say that the divorce rate is down nationwide, though it’s usually higher during economic recessions. One theory as to why: the economy is bad, but people are marrying later and cohabiting more frequently than past generations.
Four Financial Tools All New Parents Need
By 6.27.09
The baby’s on the way! You’ve got a crib, toys, and a rapidly approaching delivery date. So what else you do need? Kiplinger shares the four must-have financial tools that no new parent should go without…
Be Your Own Financial Regulator
By 6.26.09
Any sort of federal agency to protect consumers from abuse from the financial industry is months, or possibly years, away, notes Linda Stern of Reuters. That’s why you shouldn’t depend on such an agency to protect you in the meantime. In fact, you can take her advice and use it no matter what happens at the federal level.
Daddy, Is The Recession Over Yet? Handy Chart Holds The Answer
By 6.26.09
When are we going to pull out of the recession? The Kiplinger Recovery Index thinks it can tell you, using a sophisticated system of red and green colored boxes and checkmarks and X’s.
"Chase Hiked My Minimum Payment To 5 Percent!"
By 6.25.09
Chase just notified Greg that they’re more than doubling his minimum payment requirement. Because he and his wife are carrying such a large balance due to a promotional balance transfer offer a few years ago, this pushes their monthly payment to nearly $1,000.
The Best Way to Maximize Your Investment Return
By 6.25.09
There are three variables that impact the total return investors receive from an investment: the amount saved, the return rate, and the amount of time invested. Most investors spend a good amount of time and effort trying to increase all three. But what if we can’t do all three, if we’re inhibited by time, skill, knowledge, or ability (after all, many fund managers spend a lifetime trying to eek out an additional 1% return with limited success.) If we could only focus on one of the factors to impact, which is the best option? What is the best way to maximize investment returns?
Study Of Credit Unions Indicates CARD Act Will Benefit Consumers
By 6.25.09
Two Harvard doctoral students in economics compared how credit unions and banks operated their credit card divisions, and concluded that the recent CARD act “is likely to bring about moderate, and even positive, changes,” as banks begin to emulate parts of the fairer business model of credit unions. Specifically, they say, all the doom and gloom from the banking industry about how consumers will get shafted by the new rules is mostly fearmongering.
By 6.20.09
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Here are 5 personal finance podcasts to subscribe to, download, and argue with during your commute or workout. [Automatic Finances] (Photo: uhuru1701)
Personal Finance Roundup
By 6.19.09
How much is that gold jewelry worth? [Mighty Bargain Hunter] “Short answer: Probably less than you think, but more than you’ll get from a gold-to-cash place.”
10 Things Financial Planners Won't Tell You
By 6.19.09
Right after politicians and lawyers, financial planners have to be the most mistrusted, suspected, and questioned profession these days. And with good reason. With the Bernie Madoff’s of the world running rampant, fewer and fewer people are willing to turn their life savings over to someone else. (Yes, we realize Madoff was an investment advisor, not a financial planner per se, but you get the meaning.) Well, after reading this, you’ll probably be even less likely to hire a financial planner. financial planners won’t tell you as follows:
How To Protect Susceptible Relatives From Scams
By 6.18.09
The Wall Street Journal ran an article yesterday about how to identify and protect loved ones from con artists. One of the problems with being an easy mark—say, because of reduced mental capacity or increasing isolation—is that you get put on a list and passed around to other scammers, says Karen Blumenthal, the author of the piece and a relative of one of these perpetually easy marks.
Credit Card Companies Are Warming Up To Reduced Payoff Deals
By 6.17.09
If you’ve fallen into a debt pit and can’t make your credit card payments, and now you’re watching them steadily mount with penalties, fees, and steep interest rates, consider negotiating a lower payment. The New York Times reports that while most card companies won’t admit it officially, they know when they’ve got a customer who can’t pay, and they’re much more willing to settle for a lower amount than they were a year ago.
How We Can Learn From The Financial Problems Of Others
Our post earlier today about Chase’s sudden 150% increase in a couple’s minimum payment on their credit card debt brought out a lot of passionate comments from readers—and it also turned into a cesspool of blame. We see a lot of a particular type of sentiment on posts about credit card debt and money management, and it’s not helpful.