Thursday, November 23rd, 2017

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Personal Finance

More Homeowners Refinance to 15-year Mortgages

Interest rates are at record lows – and homeowners aren’t shy about taking advantage of that fact. More and more, Marketwatch reports, they’re refinancing their mortgages to lock at rates below 4 percent in exchange for a shorter payment term. Over a quarter of homeowners who refinanced in the first six months of 2010 chose […]

Thinking About Buying a House? Think Again

The following advice, it’s important to note, is bad for the economy. However, it might be good for you. If you’re a young worker or entrepreneur considering purchasing a home, because mortgage rates and prices are so low, you should probably reconsider. Economists and analysts argue about whether the economy as a whole is entering […]

Saving Money and Saving Friends

Most people will, at some point in their lives, be called upon by a friend – or even a family member – for a loan. In these perilous economic times, this appears more likely than ever, especially with credit still tight in the wake of the financial crisis. When a friend asks you for a […]

Best Credit Cards for College Grads and Students

Odds are, you’ve been getting credit card offers since you turned 18, or even earlier. The credit card industry sent out 1.1 billion offers in the second quarter of 2010 alone, more than twice as many as they did in 2009. Despite dire predictions, the industry is far from failing. So what are the best […]

Best Apps for Saving Money and Staying out of Debt

VentureBeat recently ran an article naming the five best smartphone apps for entrepreneurs – and some of them are pretty good even if you’re not in business for yourself. The website’s number one pick should be everyone else’s, too: Google Voice, available for Android and iPhone OS, is a lifesaver for anyone who spends time […]

Set Yourself Realistic Goals

Life is driven by expectations as much as reality. A widely praised rookie entering his first major-league season has a far greater weight on his shoulders than a relative nobody. In the financial markets, a company’s absolute performance is often far less significant than its performance relative to expectations – a company that posts lower […]

California Leads Nation in Consumer Debt

The Golden State loses some of its luster in new figures from the New York Federal Reserve: The bank’s data show that California takes the top spot in the U.S. for consumer debt. California residents carried an average debt load of $78,000 in the second quarter of 2010, said the paper. The national average is […]

New Credit Cards Cut You Off – When You Want

"I’m sorry, ma’am. Your card has been declined," says the cashier. Your reply: "Excellent!" A confusing reaction? It will make sense soon, if you get a new MasterCard from Citigroup with the InControl service, described by the New York Times as a "financial chastity belt." InControl allows consumers to set their own limits on spending […]

Home Equity Loan Defaults Soar as Housing Values Drop

A sea change is under way in Americans’ debt habits: They are changing how they borrow, how they pay their loans, how they get out of debt and when they default. It used to be that smaller, revolving credit loans – like credit card debts – were the most likely to go unpaid. Now, it’s […]

Recessionary Economy Has Side Benefits for the Employed

A new report in the New York Times outlines one of the little-talked about phenomena of the recession that drained the U.S. of jobs and wealth in 2008 and 2009. For those in the worst-affected zones, the report finds, the damage has been severe and lasting. Heavy manufacturing regions, like Michigan, and those areas that […]