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Consumer: What's in a Word
Tweet Share on Facebook January 5, 2009 CommentIs the very use of the word "consumer" to describe people turning us all into materialistic shopaholics?
That's the argument of Michelle Singletary, columnist at the Washington Post.
She writes:
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What If Stocks Never Go Up Again?
Tweet Share on Facebook January 5, 2009 Comment (26)UPDATE: My response to those who call this question ludicrous is now posted here.
It's a scenario that would undermine every personal finance book, market expert, and business school class out there: Such a prolonged recession -- or even depression -- that the market never gives investors the 10 percent average returns of the 20th century. Or even less-optimistic 8 percent returns.
If we can no longer count on the stock market to double and triple our money through compound interest over our lifetimes, then what will we retire on? How will we stay ahead of inflation? Most people now lack pensions and depend solely on social security, tax-protected retirement account such as 401(k)s, and private savings. But if those latter two sources don't grow in the stock market, we're all going to be feeling pretty poor as we enter our retirement -- if we're even able to retire.
This doomsday scenario becomes even more drastic when one considers how our behavior might change. If we can't earn as much on our savings, then will we become even less likely to save? Personal finance books love to talk about the power of compound interest as a primary incentive to save instead of spend. Their authors often base their arguments about how many thousands you will ultimately save by cutting out that daily latte, for example, by assuming you can grow those savings at ten percent a year. -
Hot Google Trend: Smart About Money
Tweet Share on Facebook January 2, 2009 Comment (2)Nestled between The Office star Jenna Fischer and comedian Kathy Griffin on today's Google Trends list lies a decidedly less glamorous item: The website SmartAboutMoney.org.
Run by the National Endowment for Financial Education, the website helps visitors plan their household budget, examine their debt, and shop smarter. It also offers a quiz to help users assess their financial situation.
So, what does it mean that such a useful website is catching people's attention this morning? Perhaps we're all just getting started on our New Year's resolutions. -
6 Money Websites to Watch in 2009
Tweet Share on Facebook January 2, 2009 Comment (1)From snide remarks about greedy companies to creative techniques for saving, websites and blogs offer some of the most intriguing takes on the world of personal finance. Here are my picks for the top sites to watch in 2009:
NPR's Planet Money: This new blog breaks down what the global economy means for us little people, including the basics of the latest Fed rates changes to inside jokes.
Budget Smart Girl: This blogger shares tips on frugal entertaining, craft ideas, and bargains. She has big plans for the coming year, including a new newsletter.
