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The Challenge of Taking Out Life Insurance
Tweet Share on Facebook August 31, 2009 Comment (2)Taking out life insurance sounds like it should be easy. Call a few companies, get price quotes, and go with the cheapest one. Then, you just have to fill out forms and schedule a health exam.
[See: "7 Killer Insurance Mistakes You're Probably Making."] -
Testosterone's Role in Investing Decisions
Tweet Share on Facebook August 28, 2009 Comment (3)The debate over the ways that men and women handle money differently just got more complicated. Research generally suggests that men take more risks with their money while women play it safer, which means men may earn higher returns over time but also are at greater risk during downturns. But Yahoo's Laura Rowley reports that a new study from the University of Chicago and Northwestern suggests that not all women fall into that risk-averse category. Specifically, women who have higher levels of testosterone appear to take bigger risks.
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Audio: How To Find Affordable Child Care
Tweet Share on Facebook August 27, 2009 CommentOver the weekend, I spoke with WTOP in Washington about how to find afforable child care. New Web sites make it easier for parents to find babysitters and nannies, and babysitting co-ops also let parents join forces to cut costs.
8 Ways to Find Affordable Child Care
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Why We Are Still Better Off Than Our Parents
Tweet Share on Facebook August 26, 2009 Comment (6)Do you think you're better off than your parents?
It's a question that's not so easy to answer: Plenty of 20- and 30-somethings say their parents were able to afford a first home, children, and financial security long before they even settle into a stable job. But according to a survey taken earlier this year by the Economic Mobility Project at the Pew Charitable Trusts, almost six in 10 respondents said their standard of living is much or somewhat better than their parents' was at the age they are now.
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Annie Leibovitz: Why Fame and Debt Often Mix
Tweet Share on Facebook August 25, 2009 Comment (3)In this week's issue of New York magazine, Andrew Goldman dissects Annie Leibovitz's debt problems in his article, "How Could This Happen to Annie Leibovitz?" Leibovitz, one of today's most successful photographers, has about $24 million in debt.
Goldman discredits the idea that the so-called "gay tax" left Leibovitz unable to inherit her partner Susan Sontag's estate without paying significant taxes. Most of Sontag's estate, he says, went to Sontag's son, not to Leibovitz. -
Americans Still Lack Savings, Despite Cuts
Tweet Share on Facebook August 24, 2009 Comment (4)Despite the fact that government data shows personal savings rates slowly creeping upwards, it turns out most people still aren't saving enough money to sustain them during periods of lower or no income.
According to a survey by HSBC Direct released today, almost four in 10 Americans don't have enough money saved to pay for one month of living expenses, and six in 10 have three months or less worth of expenses in the bank. That leaves them vulnerable in the event of job loss.
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Starbucks Cuts Some Prices, Raises Others
Tweet Share on Facebook August 21, 2009 Comment (8)Starbucks announced this week that it will raise prices by up to 30 cents on its more complex concoctions, such as Frappuccinos, while lowering prices on simpler drinks, including drip coffee and tall lattes. Those will go for about 5 to 15 cents less. With an eye on the recession, the company is also emphasizing cheaper drink options on its menus.
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Today, Credit Card Reform Begins
Tweet Share on Facebook August 20, 2009 Comment (9)Starting today, credit card companies are required to begin doing business a little differently: First, they must inform their customers at least 45 days in advance of any interest rate hikes, compared to the previous 15-day requirement. If a customer doesn't like the change, then he can close the account and pay off his balance at the original rate. Secondly, credit card companies are now required to mail out bills to customers three weeks before the money is due, rather than two weeks.
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How Clueless Are College Graduates?
Tweet Share on Facebook August 19, 2009 Comment (3)Earlier this summer, when Beth Kobliner, author of the bestseller Get a Financial Life, was interviewed on the Fox Business Network, she said something that struck me as a bit extreme. She said that college graduates—even those coming from the Ivy League—enter the workforce without understanding basic personal finance concepts, including how to rent an apartment.
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Fraud Protection: Debit Versus Credit Cards
Tweet Share on Facebook August 18, 2009 Comment (17)Today's guest post comes from Odysseas Papadimitriou, founder and chief executive officer of Evolution Finance, which is the parent company for Wallet Blog and Card Hub.
Debit card use is growing rapidly. Last year, spending on VISA debit cards surpassed spending on VISA credit cards for the first time in history. Although debit card use is growing in popularity, there is a certain amount of confusion around fraud coverage on debit cards, not to mention credit cards.
