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“I need money!” But how much?
How much money buys happiness? A wide body of research suggests the number is approximately forty thousand dollars a year. Daniel Gilbert, professor of psychology at Harvard University, says once you have enough money to meet basic needs – food, shelter, but not necessarily cable —incremental increases have little effect on your happiness. Aaron Karo, [...]
Continue reading...Retirement Savings News: 401K contribution limit raised to $17,000!
24. October 2011
You’ll be able to contribute more tax-free money to your 401(k) next year, the IRS just announced. The contribution limit for employees participating in pension plans including 401(k)s, 403(b)s, most 457 plans and the federal government’s Thrift Savings Plan will be $17,000 for the tax year 2012. That’s $500 higher than the $16,500 limit this [...]
Continue reading...Protect Yourself From Identity Theft
18. October 2010
Hello NeedMoney, Although I have never been a victim of identity theft, a very close friend of mine was. I can attest to the sheer agony fixing all of the damage entailed for her, and ever since witnessing her ordeal I have been especially careful to take steps ensuring that I do not fall victim [...]
Continue reading...China Signals Increased Currency Flexibility
17. September 2010
Since 2008, China has pegged its currency exchange rate to be fixed to the US Dollar, but those days appear to be over for now. In news that got the attention of forex traders everywhere, the Chinese central bank announced the peg would end but also warned that that a sudden appreciation or revaluation would [...]
Continue reading...New Rules Change Credit Card Fees
14. September 2010
More news about credit card changes in the U.S. The Federal Reserve set regulations for credit card issuers which limit penalty fees to $25. The average of existing penalties is $39, so this is welcome news for many card holders having trouble with payments. The rules do state, however, that there can be an exception [...]
Continue reading...Power In Numbers: The Advantages of Community Shopping
6. August 2010
Consumers are watching every penny in the current weak economy. Several new websites seek to capitalize on this bargain hunting, and they attempt to leverage the power of group purchasing. Individuals can band together on these sites in order to obtain deep discounts on everything from groceries to luxury vacation travel. Although there is not [...]
Continue reading...New Financial Education App From Visa
3. August 2010
Financial literacy in America is currently in a sorry state, and Visa is seeking to improve the financial acumen of both American kids and adults. To this end, they have introduced a free iPhone App titled The Practical Money Skills Calculators. A wide array of features comes along with this app, and it can be [...]
Continue reading...HelloWallet Scuffles With Mint
28. July 2010
HelloWallet and Mint.com have emerged as two of the most popular websites seeking to give consumers financial advice. Upstart HelloWallet recently fired a shot at Mint asserting that Mint does not truly look out for the best interests of their users. The claim is that Mint derives its revenue from advertisers — most of whom [...]
Continue reading...Want to Avoid Estate Tax? 2010 Is A Good Year To Die
19. July 2010
The legislative process and compromises often result in laws and policies which can be quite illogical. Take for instance the current status of the estate tax. Several years ago there was a pitched battle between the parties over future rates for the estate tax — which spawned the very effective GOP tactic of referring to [...]
Continue reading...Senators Afraid Of Those Newfangled ATM’s
15. June 2010
Taking a few bucks out of an ATM is as reflexive to most of us as breathing. Most of us assume that those in charge of crafting financial regulations are intimately familiar with the financial issues which face average citizens on a day to day basis. This apparently is not the case. The Washington Post [...]
Continue reading...Mortgage tips: Avoiding foreclosure
9. June 2010
The foreclosure epidemic in America is ongoing, and many desperate homeowners are seeking any tactic possible to stave off losing their home. Arising from this backdrop is the “produce the note” movement. This is a strategy propagated by many lawyers and foreclosure defense specialists, and it entails demanding that your lender produce the actual note [...]
Continue reading...Landing A Job For Only $6
6. June 2010
Current unemployment levels are at historic highs — in some areas upwards of 15% of the population are now unemployed. Many eager — if not desperate — job seekers are constantly looking for ways to outshine their competition and quickly get back to receiving a dependable paycheck. In this arena, the spoils most often go [...]
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7. November 2011
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