Oct
3
Back To Basics
October 3, 2008 | 1 Comment
The major news right now is the so called credit crises. Banks aren't lending to each other so the government is going to spend close to A TRILLION dollars to fix the problem. It's depressing but we can't dwell on it. (Just remember if your congress(wo)man voted for it in November, voting is the best [...]
Oct
2
Warren Buffet On the Credit Crises
October 2, 2008 | 2 Comments
When Buffet dies I guess we're all in trouble. Nobody can explain this stuff except him. (end sarcasm) Warren Buffet is interviewed about the credit crisis on CNBC. You can read some excerpts here: http://mathoda.com/archives/433 One quote I'd like to point out: Beware of geeks with clever computer models: “I mean they had all these [...]
Oct
1
What Happens If We Don't Bail Out Wall Street?
October 1, 2008 | Leave a Comment
Nothing. No one will die. No wars will start or end. A buddy asked me what would happen if the bail out didn't go through. My buddy has a degree in finance and a master in economics. He's worked at a large bank for 5 years. I've told you this to illustrate the point. No [...]
Sep
30
Putting the Blame Where It Belongs
September 30, 2008 | Leave a Comment
So who's fault is it? Greedy White Republican Investment Bankers? How about a fat Southerner with a penchant for fast food, chubby interns and cigars. New York Times 1999 Article about Fannie Mae loosening credit policies. In a move that could help increase home ownership rates among minorities and low-income consumers, the Fannie Mae Corporation is easing [...]
Aug
27
Interest Rates Increasing?
August 27, 2008 | Leave a Comment
I received a solicitation from ING Direct today. Their 12 month CD rate is 4%. If you're a saver this is a good sign. Interest rates have been terrible recently. If you're a saver and have a decent amount of money in a savings account or CD's you've most likely been losing money (with inflation). [...]
Aug
19
Debit Card Security – How To Keep Your Information Private
August 19, 2008 | 1 Comment
Many people carry their debit card PIN around in their wallets or purses. Because they have so many credit cards and debit cards they have to write down the pin number of each one. That's a bad idea. Here are a few tips to manage and protect your banking information. Don't Carry Around Your PIN [...]
Jul
21
How Long Should I Keep Credit Card Statements?
July 21, 2008 | 1 Comment
Have a pile of credit card statements? Find out how long you need to keep your old statements and why. When deciding what financial records to keep and what to throw away, there are several important criteria. Do you use your credit card for business expenses? Do you have any tax deductible purchases? If you [...]
Jul
14
More people are using a debit card to pay for hotel rooms than ever before. There are many reasons people use debit cards. However, I recommend using credit cards instead of debit cards. Debit cards have become much more popular. Many people pay with debit cards instead of credit cards as a way to avoid [...]
Jul
10
Close Old Or Unused Accounts
July 10, 2008 | 7 Comments
I hate loose ends, especially financial loose ends. If you have old accounts that you no longer use like credit cards, home equity lines or other bank accounts, you should close them. In case you need convincing, I've created a list of the reasons you should close unused accounts. When ING kept sending me statements [...]
Jul
2
I was browsing around the IRS site looking for some information on the stimulus package and I happened across this picture. It just screamed out for some creative editing. Alan Greenspan is the former Chairman of the Federal Reserve which according to some is the most powerful position in the world. Some argue that his [...]