(Part one of a continuing series)
For many people, credit cards have become a necessity and that's fine as long as they are used properly. However, many people continue to increase their credit card balances year after year and find themselves paying a significant portion of their income to the credit card companies every month with no end in sight. When a credit card is finally paid off, many of these frustrated consumers cancel the card outright so that they'll never get caught up in the credit card trap again.

Continue reading "Escaping the Credit Card Trap: Cancelling a Credit Card Can Increase your Interest Rate" »

Posted by Mike - Editor at 6:00 AM | Permalink

(Continued from The Great American Ponzi Scheme: Part I)

The government didn't step in to regulate these credit default swaps because a boom in all these industries makes people happy. Happy enough to re-elect those in office, happy enough to pay more taxes. By the way, because the economy was doing so well in the early stages of this Ponzi scheme, the tax base grew and taxes could be cut on things like capital gains without the effects really being felt even while the government itself was spending just as recklessly as many consumers.

Continue reading "The Great American Ponzi Scheme: Part II" »

Posted by Mike - Editor at 8:00 AM | Permalink

Mortgage banking for the last ten years or so has been the biggest Ponzi scheme ever conceived and it has all been legal. Builders, developers, and bankers have been perpetrating what amounts to outright fraud on the American consumer. Don't get me wrong, it is the greed of those consumers that got them into trouble in the first place. If people hadn't looked at buying property as a get rich scheme, and bank-rolled that "investment" with money they didn't have and credit they couldn't afford, none of this would have happened either.

Continue reading "The Great American Ponzi Scheme: Part I" »

Posted by Mike - Editor at 8:38 AM | Permalink

If you're considering filing for bankruptcy then obviously you're experiencing some serious financial difficulties. Perhaps bill collectors are hounding you, your paycheck is being garnished, or your home is at risk of being foreclosed due to your inability to keep up your mortgage payments. All these reasons and more would push anyone to file for relief through bankruptcy. If only bankruptcy attorneys understood how distressing being in debt can really be and charged little or no money to represent individuals in bankruptcy cases, but unfortunately most attorney fees are high. If you're facing such a challenge and can't foresee how you could possibly afford high fees but need relief that only filing bankruptcy can provide, you can still file bankruptcy without paying an attorney money that you don't have, by representing yourself.

Continue reading "Filing Bankruptcy Pro Se: Choosing The Option That Works Best For You" »

Posted by Mike - Editor at 6:00 AM | Permalink

Accepting online payments is a great way to boost sales, no matter what kind of products you sell. Setting up an online payment system is easy, even for a beginner. All that is needed is a little time, a website and a merchant account with an online payment service.

Continue reading "How to Accept Online Payments" »

Posted by Mike - Editor at 5:51 AM | Permalink

Inflation has been tame for so long that it's easy to ignore when planning for retirement. However, even inflation of 2% or 3% per year, over a period of many years, can seriously erode the purchasing power of your funds. At 2.5% inflation, $1 today will be worth 78 cents in 10 years, 61 cents in 20 years, and 48 cents in 30 years. That can have a major impact on those entering retirement for several reasons:

Continue reading "Consider Inflation When Planning for Retirement" »

Posted by Emma - Editor at 5:50 AM | Permalink

Habits are all about the principle of human inertia: we tend to keep doing what we've always done and shy away from doing something new. That principle may work against you at first. If you're not used to saving money, it can be hard to get started. But once you gain some inertia in your new saving habits, it'll be relatively easy to keep it up.

Continue reading "The Habit of Saving Money" »

Posted by Nickie - Editor at 6:00 AM | Permalink

When home prices were increasing, home-equity loans were a convenient way to finance numerous types of expenditures. While the loan is secured by the home's equity, the proceeds can be used for anything, including expenditures that have nothing to do with the home. In addition, home-equity loans have a significant advantage over other forms of consumer credit -- interest paid on up to $100,000 of home-equity loan proceeds can be deducted on your tax return if you itemize deductions. Home-equity loans typically offer competitive interest rates, usually no more than the prime rate or 1% or 2% over prime. Competitive interest rates combined with tax deductibility can add up to very attractive after-tax rates.

Continue reading "How Home Equity Loans Have Changed" »

Posted by Nickie - Editor at 6:00 AM | Permalink

With unemployment in the US already at 6.7% in the United States, Dow Chemical (NYSE: DOW) has released a statement saying they are going to cut 5,000 full-time jobs and send 6,000 contractors packing. Merry Christmas.

Continue reading "Unemployment at 6.7% and Rising" »

Posted by Mike - Editor at 6:00 AM | Permalink

An international investment's return is based on two factors -- the investment's return in its local currency plus currency fluctuations. For example, suppose you purchase a British stock whose price increases 10% in one year in terms of British pounds. If, during that same year, the British pound increased in value by 5% compared to the U.S. dollar, your total return would be 15% -- 10% from the investment's return and 5% from currency fluctuations. However, if the British pound decreased by 5%, your total return would be 5%.

Continue reading "Currency Fluctuations and Foreign Investments" »

Posted by Emma - Editor at 6:00 AM | Permalink