Category: Personal Finance and Money

News that American Express (AmEx), is seeking roughly $3.5 billion in taxpayer-funded capital from the federal government was quite ironical to me. Millions of consumers are struggling to make ends meet, in part due to mounting credit card debt, and now we have the most prestigious credit company in the…

I received this email (edited for this post) from a reader about a debit card scam that is apparently real and spreading across the country. Just another sign of tough economic times as criminals go to extreme measures to make a buck by taking advantage of the unsuspecting and innocent.…

A recent encounter during a routine car service reinforced my cynicism when it comes to mechanics and the auto repair industry in general. I had forgotten about the challenges of dealing with mechanics and the auto center sales staff, thanks to driving a company car which was covered under a…

It's that time of the year again when your choice of health care insurance plans comes to the fore - Open Enrollment (OE). During OE you can change your health care coverage and flexible spending allowances for the year ahead without penalty or a qualifying "life-event". With health insurance premiums…

Crude-oil futures tumbled 6% to below $70 a barrel in New York, despite widespread expectations that the Organization of Petroleum Exporting Countries (OPEC) will reduce production at an emergency meeting later this week. Normally a planned cut in the crude oil supply would drive up the price of oil and…

Crazy headline or spot on prediction? Just trying to grab attention you may be thinking. However based on the recent rapid moves in the market, mainly to the downside, this headline may come to pass sooner than you think. I have a reasonable investment and retirement portfolio, so I hope…

In a follow up email discussion with Tony, on his post 10 tips on getting a good deal when buying a car, an interesting point came up as to whether gender makes a difference in getting a good/better deal. Tony, argued that his wife actually went for the final negotiations…

In America we can get Annual Percentage Yields (APY) or savings rates between 0.01% and 1% for money kept in high yield on-line saving accounts. This range is quite pathetic but when compared to the volatility of returns from stock markets over the last few years some would take the guaranteed low…

The online WSJ recently ran a piece on the rising costs of bankruptcy: Individuals who have filed for bankruptcy protection since Congress overhauled U.S. bankruptcy laws in 2005 have faced a more expensive process as attorneys' fees have risen by roughly half, according to a government report. In a report…

Here is literally the A to Z of good personal finance rules that I try to live by. Think of it like my saving and investing philosophy. Writing this list provided a good opportunity for some introspection and I have already identified a few things I need to do to…

As students start college or university, they will have a lot on their plate and hundreds of big and small things to deal with. It is an exciting time, but for some it can be overwhelming. For new students, there are all the aspects around getting to know others, living…

Rising goods and services prices, higher mortgage repayments and lower investment returns have punched a hole in household budgets with much more money going out than coming in. The only way to manage the higher outflows is to either earn more or spend less. Winning a pay rise or working…

The Conference Board Consumer Confidence Index, based on a representative sample of 5,000 U.S. households, declined even further in June. In recently released figures the index now stands at 50.4 (1985=100), down from 58.1 in May. The (outlook) Expectations index also declined to 41.0 from 47.3 in May. Consumers' assessment…