Latest financial news and information
Save money by living without a car
Living without a car may seem like a pipe dream, but it is achievable. It can save you a great deal of money and time that used to be claimed by automotive upkeep, repair and waiting for tow trucks. Walking, bicycling and using public transportation are all ways to save big.
Estimating the savings
Begin your journey toward living without a car by estimating how much money you’ll save. It is very possible that you’ll be able to save $500 to $800 or more per year by not paying auto insurance premiums. If you live in a city with high crime and [...]
IRS expands its taxpayer forgiveness program
The Internal Revenue Service (IRS) announced Monday that it will be expanding its “offer in compromise” tax debt forgiveness program with some key changes that will make it easier for more middle-income Americans to pay down their delinquent tax debt.
A more flexible Fresh Start
The changes to the “offer in compromise” program, part of the Fresh Start initiative, will allow debt-strapped taxpayers to negotiate directly with the federal tax agency to reduce their tax burden and to pay it down under more flexible terms.
IRS Commissioner Doug Shulman said in a press release:
“This phase of Fresh Start will assist some taxpayers who [...]
How to cancel your student loan and avoid interest
All aboard for the next U.S. financial crisis! Student loan debt is being called the next great bubble, and experts claim the continued rising cost of higher education will set that bubble to burst as borrowers who cannot keep up with payments lapse into default. For those who receive student loans but wish to leap off the debt train before it leaves the station, here’s how to cancel your federal student loan without penalty.
Read the fine print
In Federal student loan documents, a provision exists which informs the borrower that they may cancel all or part of a student loan before [...]
15 more retailers adding PayPal payments system
For some time now, PayPal has been working on a point-of-sale system that would offer an alternative to cash or cards that are being installed at Home Depot locations nationwide. The company has just inked deals with 15 more retail chains.
Getting out of the hardware aisle
PayPal, the online payment system owned by eBay, has been rolling out its own payment system for real-world merchants to use. PayPal’s system, according to Reuters, began testing in the real world in a limited test run at a few Home Depot stores, later expanded to 2,000 stores. So far, it only entails a software [...]
Consumers face increasingly less financial distress
An analysis of the first three months of this year showed a lowering of consumer distress as new hires increased across the nation and the housing market picked up.
Consumer Distress Index
The non-profit credit counseling site CredAbility initiated the annual “consumer distress index” report. The index measures the financial health of everyday consumers in several key areas, including employment, housing, credit, household budgets and net worth. A score of 70 or higher on the index indicates financial stability.
Reaching the numbers
The study looked at the available data from 65 economic surveys conducted by the federal government and private groups. It also factored [...]
Pawn lending boom continues
Large financial institutions have had to weather a significant amount of financial turbulence in the past few years, but some, such as pawn lenders, have been doing fine. The pawn business has been positively booming in the past few years.
As seen on TV
For basically most of the past 2,000 years, pawn shops and pawn lenders were viewed with a jaundiced eye, deemed usurious and seedy, only a service for the dregs of society. However, in the past few years, a number of reality television shows have shown the daily workings at pawn stores, which has normalized the service for some.
According [...]
Rules for prepaid debit card coming from CFPB
Prepaid debit cards are getting a whole ton of press lately, partially thanks to big banks joining the fray. As they fall under the purview of the Consumer Financial Protection Bureau, the agency is seeking comment on the prepaid cards ahead of proposing any rules.
Underbanked product making waves
Prepaid debit cards are perhaps the most well-known of financial products made available to the underbanked. Essentially the same as a regular debit card, the cards are tied to accounts at banks that agree to host the accounts for the card company. The only difference is the card is issued by a card [...]
What not to say when negotiating
Negotiation is an inevitable – and sometimes entertaining – part of life. This includes your financial dealings. Whether you’re negotiating salary, vacation days, a loan rate, sale price or anything else, it pays to not only know how to negotiate, but what not to say when negotiating. Avoid these deal killers and show off that silver tongue of yours.
Have information on your side
Prepare yourself before entering into any negotiation. That way, you’ll never have to admit that you haven’t done your research, or conceal the truth yet resign yourself to the fact that if the opposing party knows their stuff, [...]
Debt ceiling debacle may be returning
Remember the debt ceiling debate between the Obama Administration and House Republicans last summer? You know, the one that brought government to a screeching halt for a time and pretty much defined the party-based bickering that has become systemic in Washington? Well, to paraphrase “Poltergeist,” it’s baaacckk!
The never-ending debate
Later this year the nation will once again be approaching its debt ceiling, the spending cap set aside to pay the nation’s bills. It currently tops out at $16.4 trillion. Yet again, it will need to be raised or the U.S. may default on international creditors, possibly further lowering the nation’s credit [...]
Cost of Disneyland and other theme parks trending up
Most kids dream of going to Disneyland and other theme parks like SeaWorld and Universal Studios. However, many parents are likely to dread taking a trip, because the cost of said parks is becoming extravagant.
Magic Kingdom makes cash do a disappearing act
When a person wishes upon a star, Disneyland does not make it’s prices lower. Quite the opposite, in fact. Disneyland, according to Time magazine, has just announced a price increase ahead of the summer season and any families planning a trip there might think about getting installment loans to fund the trip.
The cost of a ticket for a single [...]
Perfume markup among egregious markups on cosmetics
Perfume sure can be expensive, some of which retails for $100 and more for a few ounces. Most of that cost is a markup, as perfume and other cosmetics have a very high markup inserted by makers and retailers.
Scented spray is seriously selling
Perfume and cologne is a big thing for some people, as millions of people are willing to pay top-dollar for the perfect bottle of fragrance. For instance, according to the Huffington Post, a special edition of DKNY’s Golden Delicious scent was announced in 2011, at a cost of $1 million per bottle. Granted, the cost was entirely for [...]
Getting a bargain on new and used cars
Cars are a major investment in the best of times. In today’s economy, when many of us have to cut corners wherever we can, that is all the more true. Still, one funny by-product of this economic downturn is that sometimes you can get a new car cheaper than a used one.
True Market Value
Recently, the car-pricing site Edmunds.com compared the True Market Value for current models against the interest payments typically made purchasing each model. Generally, used cars are financed at a higher rate than new ones. Also, new cars often come with various dealer incentives. In some cases, the [...]
How to limit your dog bite claim exposure
In most states, if your dog bites someone, you are automatically financially liable for any damages. These damages are typically covered by general liability homeowners or renters insurance. Considering that over a third of all homeowners insurance liability claims last year came via dog bites – a $479 million payout by insurers, says the Insurance Information Institute – it behooves dog owners to learn how to reduce potential exposure to dog bite claims.
Claims plentiful, payments rare
Even though only about 16,000 dog victims actually receive insurance payments out of the 5 million that are bitten in America each year, that doesn’t [...]
Wedding season and expensive wedding costs around the corner
A couple’s wedding is a very special day in their lives and the beginning of a journey together. Both bride, groom begin a journey that is usually into debt, as the average cost of a wedding is going up, according to TheKnot.com’s annual survey.
Big day incurs big costs
Weddings are kind of a big deal. The ritual is heavy with symbolism; the joining of two people, two groups of friends and two families, as a single entity. Of course, it is also a monstrous expense. Once one tallies up the various costs, such as the bridal gown, bridesmaid’s dresses, groom and [...]
Your mid-year financial checkup
The year’s halfway point is still a month away. However, it is a good time to start thinking about and preparing for your mid-year financial checkup. Much like a yearly physical or an annual tune up for your car, a regular checkup of your financial health can do much to keep you on track monetarily.
Everything changes
Nothing in the financial world stays the same for very long. Regular assessments can help you spot weak areas in your finances, or to point out areas that are working for you and possibly need to be bolstered.
Andrew V. Tignanelli, president of the Financial Consulate [...]
How to make cheap mosquito repellent the natural way
If it’s hot and humid outside, odds are it’s mosquito season. When standing water draws pests aplenty, you want safe, cheap pest control that won’t ruin your summertime fun. Spend more money on steaks and beer and less on bug spray with these cheap, homemade mosquito repellent recipes.
Avoid the skull and crossbones and save
Most commercial pest control sprays on the market today include the toxic chemical DEET. The Centers for Disease Control and Prevention have made numerous recommendations for limiting exposure, particularly when young children are involved. If there are harmless, all-natural alternatives that cost less money, wouldn’t you want [...]
Credit card companies still want revolvers as customers
The credit card industry puts customers down as either “deadbeats” or “revolvers,” with revolvers being the more preferred type of customers. It isn’t exactly stated business policy, but it could seem credit card issuers are trying to discourage deadbeats from paying off their debts.
The debt trap
According to PBS, the credit card industry has long grouped card-carrying customers into two groups, often called “revolvers” and “deadbeats.” Unlike the usual connotation of the word, a deadbeat in the credit card industry is someone who pays their bills.
Deadbeats pay off their balances on time and completely every month. Revolvers rack up debt and [...]
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