Debiting $5 Can Cost $35 Overdraw Fees

Sunday, August 16, 2009, 6:59 AM | 1 Comment

If you were the bank, you would be happy – 4th of July, bells ringing. But you are the consumer. You don’t check your account, you overdraw and the bank charges you $35 for the $5 worth of food. You are debited $40. Some folks don’t realize this. Imagine if 100,000 people did that in […]



The negative equity in your home is shrinking

Saturday, August 15, 2009, 7:47 AM | Leave Comment

What the heck is negative equity? If you have heard of mortgage underwater, then negative equity means almost the same, for us ordinary folks. I don’t know if there is a difference in technical definition. Let’s say your home is worth $200,000 and you owe $250,000 in mortgage, then you have negative equity of $50,000 […]



Be Aware Of The Principle Of The “Operation Of Law”

Friday, August 14, 2009, 7:30 AM | Leave Comment

Let’s see what the “operation of law” principle is. Just as an example, say you designate your spouse as the beneficiary of your retirement accounts (IRA, 401(k), etc.). Years later, you get divorced and update your will to specify that your account money should go to your adult children. By that act alone, without changing […]



Write Resume With Your Bag Full Of Experience In Mind

Thursday, August 13, 2009, 8:02 AM | 1 Comment

According to research from the University of Kent, from age 55, people worldwide are nearly twice as likely to have experienced age barriers than any other discrimination. If you have a number of years of experience that fingers on your hands and feet are not enough to count them – to put it bluntly, you […]



Low Price Is An End And A Victory In Itself

Wednesday, August 12, 2009, 5:43 AM | Leave Comment

Ellen Ruppel Shell, a journalism professor at Boston University, once enjoyed a bargain as much as the rest of us, maybe more. “Low price is an end and a victory in itself, a way to wrestle control from the baffling mystery that is retail,” she writes in her introduction to “Cheap: The High Cost of […]



Consumer Debt Is Consistent With Bankruptcy Filings

Monday, August 10, 2009, 7:37 AM | Leave Comment

Research by the Federal Reserve indicates that household debt is at a record high relative to disposable income. Some analysts are concerned that this unprecedented level of debt might pose a risk to the financial health of American households. A high level of indebtedness among households could lead to increased household delinquencies and bankruptcies, which […]



Who says only the living are susceptible to identity theft

Sunday, August 9, 2009, 7:14 AM | Leave Comment

I thought when people are dead, they are gone – no more. nada, zilch. The problem is they leave a whole history of their lives behind, especially their financial history. When people die, it seems that a vacuum gets created and who fills up that vacuum? The grave diggers – not to be confused with […]



Find out how well you are paid

Friday, August 7, 2009, 7:05 AM | Leave Comment

With the jobless rate near 10 percent, employers enjoy all the leverage. It used to be that applicants were advised to not talk about their financial compensation. They were advised to make sure that the job was offered to them first. And then they can discuss pay. But now in this lousy job market, when […]



Protect Yourself From A Financial Rat Before You Smell One

Thursday, August 6, 2009, 8:36 AM | Leave Comment

According to Ken Fisher, yes you can protect yourself from a financial rat before you smell one. I read this book except only the last few pages, but I would finish it soon. He claims you can protect yourself from Ponzi scheme like that of Bernie Madoff. Ken describes in detail and says that scams […]



Money may be right under your nose if you want to borrow

Wednesday, August 5, 2009, 8:57 AM | Leave Comment

Banks have tightened their grip on borrowing money for mortgages, small businesses, canceling home equity loans and cutting borrowing limits on credit cards. Traditionally, folks also borrowed from family and friends even though at a smaller rate. Time may be just right to take a different direction. Borrowing from relatives is as old as the […]