Archive | October, 2009
Five Financial Mistakes to Avoid At All Costs
When it comes to financial mistakes, there are varying degrees of severity. Some mistakes are relatively minor and easy to recover from, while others have consequences that can be a financial thorn in your side for years, decades, or even the rest of your life. These are the mistakes that are most important to understand [...]
Continue reading...Midland Funding Collections
29. October 2009
Midland Funding, LLC is an incredibly popular search term. A recent search of Google for “Midland Funding, LLC” showed 2,270,000 results, the first several pages of which were accounts of problems with Midland Funding, LLC and results of court cases. According to the Better [...]
Continue reading...What if the Government Runs Out of Money?
29. October 2009
Each of us has a maximum amount of debt that we cannot exceed without getting more credit extended to us. Usually when we look at the way the government spends money–a trillion here, a trillion there–it’s hard to imagine that there is a limit to what Uncle Sam is allowed to spend. But just like [...]
Continue reading...Overdraft Fees Can Become a Major Household Expense
27. October 2009
When you are preparing a household budget, chances are you don’t include a line for bank overdraft fees. Overdraft fees are never planned and certainly incurred by “accident”. The accident in this case is writing a check that cannot be covered by the cash in the account. If you have ever overdrawn your bank [...]
Continue reading...Three Consequences of Controlling Bank Pay
27. October 2009
As part of the ongoing monitoring of financial institutions who have received taxpayer dollars to survive over the past several months, President Obama’s “Pay Czar,” Kenneth Feinberg, has released his initial rulings for executive pay at bailed out firms. President Obama spoke in favor of Feinberg’s decisions, saying that it, “does offend our values when [...]
Continue reading...Consumer Debt Falls Even as Mortgage Delinquencies Rise
26. October 2009
There was a cartoon in a newspaper that showed an up trending stock market with a man standing next to it labeled “consumer”. On his back are a number of bags stuffed full and they are labeled with words like unemployment and foreclosures. It is easy for consumers to feel as if things are [...]
Continue reading...Private Student Loans May Be A Bad Move
24. October 2009
It is common to think of student loans a form of “good debt.” This typically means the sort of debt that Americans take on to pursue secondary education or a college degree. With this debt comes the promise of higher income that would help them pay it off faster. Yet, there is another term [...]
Continue reading...Does Debt Management Cost Money?
24. October 2009
With today’s economy, debt management is at the forefront of almost everyone’s mind. However, many people may be confused about where to start managing their debt. They may believe they have to spend large amounts of money on debt management assistance. Debt Management Doesn’t [...]
Continue reading...Tailwinds Pushing the Stock Market Higher
24. October 2009
With the stock market on an impressive run over the past 6 months, many are wondering if a rally like this is sustainable. In the short term, stocks generally see a pull back after a rally like this, in which the S&P 500 has increased about 60% since the low point in the stock market [...]
Continue reading...When Looking for a Job: Five Ways to Keep Your Online Image Clean
23. October 2009
It’s amazing what you can find on the Internet! And it’s amazing what can be found about you on the Internet. With technology becoming something that many of us simply can’t do without, most people have at least some kind of digital footprint that can be easily accessed by anyone in the world. Do a [...]
Continue reading...Consumer Loan Program May Be Necessary
21. October 2009
In a recent announcement, Federal Reserve Chairman Ben Bernanke said that a consumer loan program that was created to stimulate lending to business and consumers alike is still needed despite the fact that many other emergency lending programs are beginning to shut down in the wake of economic recovery. According to Bernanke, the program, which also [...]
Continue reading...Three Answers to 2010 Social Security Questions
21. October 2009
Earlier this week, it was announced that there would be no cost of living increase for 2010 for people receiving Social Security payments. This means that the 57 million people receiving benefits that were expecting their small, but important, annual pay raise this year won’t be getting that increase. The cost of living adjustment that [...]
Continue reading...Connecticut Toughens Rules On Debt Relief Companies
20. October 2009
The state of Connecticut has officially changed the rules by which debt relief companies can legally operate. The new law would apply to those firms and individuals who offer debt relief services and who negotiate with a consumer’s creditors. It would require licensing and would also prohibit upfront fees. This new legislation was drafted [...]
Continue reading...3 Tips for Finding the Right Line of Credit
20. October 2009
Many financial planners will tell you that one of the most important elements of a financial plan is liquidity and access to cash. The recession has been difficult and many consumers have had to dip into their emergency funds to make end meet, depleting cash they may have had in reserve. The fact is that [...]
Continue reading...3 Tips for Finding the Right Line of Credit
20. October 2009
Many financial planners will tell you that one of the most important elements of a financial plan is liquidity and access to cash. The recession has been difficult and many consumers have had to dip into their emergency funds to make end meet, depleting cash they may have had in reserve. The fact is that [...]
Continue reading...3 Ways to Address Merchant Credit Card Fees
17. October 2009
In a world where more and more people rarely use cash and swipe debit and credit cards for almost every purchase they make, nothing is more annoying than the little sign posted by a cash register notifying customers of a 50 cent fee for using a debit or credit card. Customers feel that they shouldn’t [...]
Continue reading...Shielding Yourself From Debt
15. October 2009
The economy keeps taking turns that make the accumulation of debt easier and easier. Jobs are lost, hours are cut back, and prices keep going up. You have probably been put into a defensive posture, trying to protect yourself from taking too much of a hit during these challenging times. One thing you want [...]
Continue reading...Help Settling Credit Card Debt on Your Own
15. October 2009
Credit card debt has a stranglehold on many Americans. In fact, the Federal Reserve Board estimates that Americans held over $950 billion dollars in credit card debt in 2008. It is also estimated that, on average, individuals hold just over $4200 in debt while families are under [...]
Continue reading...Pros and Cons of a Strong Dollar
15. October 2009
There has been a great deal of debate over the past several weeks about the strength of the dollar. The dollar is an important currency not just for Americans, but around the world, as so many prices on goods and services are dependant on the value of the dollar. There is a growing movement aimed [...]
Continue reading...Three Obstacles to Cleaning Up Foreclosures
14. October 2009
Most people living in metropolitan or suburban areas have seen homes in their neighborhood become foreclosures. Many of these homes are left by previous owners in a state of disrepair and soon the value of every home on the street is suffering. Multiply this scenario by the millions of foreclosures nationwide and it’s easy to [...]
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30. October 2009
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