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"Active Savers" Start Early and Often
Tweet Share on Facebook May 19, 2009 Comment (2)A new survey released by HSBC Direct today found that all consumers are not created equal. We can be divided into "active savers" and "everyone else."
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Audio: Decoding the Credit Card Bill
Tweet Share on Facebook May 19, 2009 Comment (4)Over the weekend, I spoke with WTOP in Washington about how the new credit card legislation will affect cardholders. The changes include larger font for disclosure statements, restrictions on when interest rates can go up, and more warning before such a rate change goes into effect. The Senate will be voting on its version of the bill today.
How The New Credit Card Legislation Will Affect You
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First Time Home Buyers Hit Some Snags
Tweet Share on Facebook May 18, 2009 Comment (2)The adventures of a first-time home buyer continues.
My house hunting urge usually kicks in strongly on Sunday mornings, when my husband likes to watch Sunday morning talk shows but I’d prefer to read or work at my desk. Our one-bedroom apartment, with the living room that also serves as our dining area and study, doesn’t make it easy for us to do different things at the same time, especially when one is loud. I start imagining how nice life would be if we had a bigger place -- one with a separate study, separate living room, and separate kitchen.
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Students Sue Over Inauguration Celebration
Tweet Share on Facebook May 15, 2009 CommentAs I first reported back in January (because I happened to be having drinks at the same hotel as these college students on Inauguration Eve), some Inauguration visitors felt deceived by those organizing events. The Presidential Youth Inaugural Conference collected up to $2,900 from thousands of high school and college students for four days of lectures and events, some with high-profile politicians such as Colin Powell and Al Gore. But many students felt like they were misled by false advertising.
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Why the Credit Card Legislation Should Pass
Tweet Share on Facebook May 14, 2009 Comment (38)Over the past two years, lawmakers have debated all kinds of new regulations for the credit card industry, with the goal of addressing skyrocketing consumer debt and the fact that many consumers say they feel deceived by surprise interest rate hikes and fees on their cards. The bill that the Senate could vote on today, as well as the bill passed by the House last week, stand out for their focus on transparency instead of outright caps or limits on what card companies can do. (Proposals to cap interest rates were defeated.)
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If You Don’t Vote, You Still Vote
Tweet Share on Facebook May 14, 2009 Comment (1)Today's guest post comes from Odysseas Papadimitriou, founder of Evolution Finance, which publishes the Wallet Blog:
After American Idol, you have two hours to cast your vote for your favorite contestant. It’s up to you to decide who stays and who goes. The board of homeowners in your community doesn’t like the tree you’ve planted in your front yard? When it’s put on the table, you can vote to keep your tree. You don’t like the way your county’s being run, get down to the polls and pick a name. Vote. It’s a democracy. As the old saying goes, if you don’t vote, you can’t complain.
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Suze Orman on Whether to Buy That House
Tweet Share on Facebook May 13, 2009 Comment (102)Before interviewing Suze Orman last week, I asked my husband for any ideas for questions to ask her. He suggested I ask how a 30-something couple could decide whether or not they could afford to buy a house, and how expensive that house could be. (A question that serves our own self-interest, since we are that couple shopping for our first house.) I managed to squeeze the question into our conversation.
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How to Deal with "Balance Chasers"
Tweet Share on Facebook May 12, 2009 Comment (5)Today's guest post comes from Jim Wang, a personal finance blogger at Bargaineering.com.
It's not easy being a credit card company these days. Between the government tightening the rules on what credit cards can do and the economy pushing so many consumers into defaulting on their debts, credit card companies are scrambling to reduce their risk and make it to the other side of this recession. The easiest way for credit cards to reduce their risk is to lower credit limits as quickly as they can. Unfortunately, this has a negative effect on consumers like us and their latest tactic, balance chasing, is especially painful. -
Audio: How to Donate to Charity for Free
Tweet Share on Facebook May 12, 2009 Comment (1)Over the weekend, I spoke with WTOP in Washington about how to give to charity during these tough times. When everyone's cutting their budget -- and charities need more help than ever -- how can we be generous? It turns out there are ways to do it without spending extra money. For example, consider giving away used clothes or books, or signing up to be an organ donor. You can also learn more about the causes that you already give to, in order to become a more effective giver.
How to Donate to Charity for Free
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Decoding the Mysterious Mortgage Points Game
Tweet Share on Facebook May 11, 2009 Comment (115)My husband and I are in the process of buying our first house. The first step, our real estate agent told us, was to get pre-approved for a mortgage. That way, once we find a house that we like and want to make an offer, the sellers will take us seriously.
