By Geoff on Feb 20, 2009 in Credit & Debt | Post a comment
“The Week In Review: Money Issues” is our weekly blog research on financial topics that define us as Americans, and shape the way we should do business.
Well, it’s that time again. Time for our weekly roundup of what’s different, offbeat, amusing and just downright intriguing about financial news. Your regular “Week In Review” reporter Pete had the nerve to run off and get married this weekend, so you’re stuck with me. Never mind. I will try my best. Here goes… Continued
By Geoff on Feb 13, 2009 in Mortgage | Post a comment
The bad mortgages that contributed strongly to the current financial crisis have produced a horrible wave of home foreclosures. Unless the foreclosure surge eases, even the most extravagant federal stimulus spending won’t help to create an economic recovery.
The Obama Administration is expected within the next few weeks to announce an initiative of $50 billion or more to help financially stressed homeowners. But with 1 million residences having fallen into foreclosure since 2006, and an additional 5.9 million expected over the next four years, the Obama plan — whatever its details — can’t possibly do the job by itself. Lenders and investors will have to acknowledge huge losses and figure out how to keep recession-plagued borrowers making at least some monthly payments. Continued
By Geoff on Jan 30, 2009 in Bad Spending Habits, Credit & Debt, Saving & Investing | Post a comment
Children become more aware of money as they grow older. Fortunately, they also start to develop an awareness that it’s smart to save and to shop carefully.
The current economic downturn is a perfect time to promote these life lessons. According to Eric Tyson, author of Personal Finance for Dummies, you shouldn’t feel guilty if you do not want to buy your kid a video game system. Don’t feel guilty at all. In fact, Tyson says this is a great time to instill important financial lessons, including that budgeting really works. Continued
By Geoff on Jan 19, 2009 in Bad Spending Habits, Credit & Debt | Post a comment
How many people out there are resentful of Suze Orman telling us whether “we can afford it?”
Now, don’t get me wrong. Suze is very well informed and actually has an entertaining and informative show. My problem with Suze, though, is her relentless, judgmental tone about all things financial.
Am I the only one turned off sometimes by Suze’s adamant stances?
I like it when she’s more of a listener and softens her approach, playing down the dramatics.
But then, more often than not, there are situations like this: Continued
By Geoff on Jan 7, 2009 in Cash Flow, Credit & Debt, Money Management | Post a comment
It’s been the “whipping boy” of conventional banks and lenders for years. Maligned, abused and kicked around, the cash advance industry has achieved a new level of respectability.
The cash advance industry, also commonly known as payday loan, is at a significant crossroad. The widening perception of bank instability, cash-strapped consumers, rampant unemployment and a desire to avoid costly overcharges on checks has led to another look into this booming industry.
The key element of change has been a widespread and more common responsible consumer use of cash advance loans on a selected basis as a preemptive way to avoid falling into arrears and becoming delinquent on important bills. Falling credit scores ultimately hurt a consumer’s financial health and take a toll on the ability to make important purchases in the future. Continued
