Category: Personal Finance and Money

A strange phenomenon is taking place – credit card companies are willing to really negotiate on how much you repay of your overdue debt. With revolving credit, a close approximation of credit card debt, totaling $940 billion in March of which 6.5 percent was at least 30 days past due…

Following on his somewhat controversial article on the negative relationship between Religion and Money, guest author Tony Parker takes a cynical look at the recently enacted credit card reforms and why they make him angry. __________ What a surprise, the government has imposed even more regulations on what’s left of…

If you are like most people, disability insurance is not very high on your list when it comes to coverage you should have. Most workers take the standard (free or subsidized) disability insurance offered by their employer and if none is available, they simply forgo it. This is strange because…

We have all thought about being wealthy and rich, and what we would do if we had enough money to fund all our desires and take care of loved ones. In reality however there are only a few ways to truly get rich. Discussed below are the main paths on…

I got stuck in a major traffic jam again last week, a trend that seems to be getting worse. However this was no traffic jam on the freeway, highway or any kind of road. It was a lunch time traffic jam to the one microwave in our office as more…

As you may know, based on some recent articles, I have started my home buying process. I have looked at many factors like the economy, monies available for down payment and job security when weighing the decision to buy a place. However, I have found that the one financial factor…

As I get older and my family grows, one question that comes to mind is, “will they manage if something happens to me? Particularly from a financial aspect.” I can’t do much to prevent the emotional impact, but I want to ensure that my family will not suffer financially if…

Here's a worrying byline on many levels: Federal Deposit Insurance Corp (FDIC) Chairman Sheila Bair said that the deposit insurance fund used to protect bank account holders could be insolvent this year, unless the agency imposes additional fees on the industry amid a surge in bank failures. The first thought…

In an ominous sign that the financial and economic fear has spread far and wide, a once laughable and highly unlikely event has come to pass. Our biggest banks are on the verge of being nationalized. That’s right – the government may soon step in and take over America’s biggest banks…

What a month! The nearly trillion dollar economic stimulus package was finally approved by Congress and signed into law. The size of the stimulus is truly mind boggling - $787,000,000,000 (9 zeros!) - and works out to about $2,600 per American. To put in perspective, if the stimulus were a…

[Updated] Looks like credit card reform is gaining steam as the Senate is expected to vote (and approve) the controversial bill this week. The Credit Card Reform Bill, approved by the House on April 30th, is expected to pass in Congress with more than 20 amendments to the original house version…

Budgeting provides a way for people to track their income and expenses. However the hard part, once people are aware of their expenses, is to actually cut back on discretionary items. Budgeting fails for many people because they fail to address this key shortcoming. Budgeting will not reduce your expenses;…

In an argument with my wife over our holiday spending on gifts, travel and entertainment, I got accused of being a cheapskate because I refused to put aside money/budget worries during the holiday season. “What’s the point of saving if we cannot spend the money on the ones we love?”…