Adios, Overdraft Fees! (Well, Kinda)

Ever have $ 24.82 in your account and you write a check for $25.00?  Yes, the proverbial writing checks your …bank account… can’t cash.  That was me in college.  Not on purpose of course!  I was usually just hoping/wishing/praying that my paycheck would beat the check I had just written to the bank.  That didn’t work [...]

Happy Birthday Social (In)Security

Last week marked the 75th birthday of legislation creating Social Security.  While politicians traded barbs back and forth on how the other political party has ruined it, Social Security remains in dire straits.  The reality of a program designed to provide a supplement to retirement income has morphed into a belief that social security in itself will fund [...]

Marshmallows and Raising Financially Responsible Kids

Forbes has a good article on how to raise financially responsible children.  Key takeaways: give your kids real money to manage so they can appreciate the value of money and teach your kids the concept of waiting (no more instant gratification!): The best predictor of how financially successful your children will be in life may [...]

Diamonds Are A Girl’s Best Friend

I’ve always though diamonds were beautiful. But truth be told, I can’t tell the difference between diamonds and nicely cut glass. And I refuse to get my diamond advice from rappers bragging about how they are VVS studded. When the time does come for me to pick out that beautiful diamond ring, I’d like to [...]

New Rules To Protect Against Overdraft Fees

Starting today, you’ve got more protection against God-awful overdraft fees.  Overdraft occurs when you write a check, make an ATM transaction, use your debit card to make a purchase, or make an automatic bill payment or other electronic payment for an amount greater than the balance in your checking account. Banks can charge anywhere from [...]

New Rules to Protect Consumers from Credit Card Companies!

Yesterday, the Federal Reserve Board issued new rules to protect consumers against credit card company practices. Issued on June 15th, the following rules effect August 22, 2010 Prohibits credit card issuers from charging a penalty fee of more than $25 for paying late or otherwise violating the account’s terms unless the consumer has engaged in [...]

Student Loans Haunt You, Even in Bankruptcy

I think I will amend the old phrase that, “nothing is certain but death and taxes” to include student loan repayment. The New York Times reports: If you run up big credit card bills buying a new home theater system and can’t pay it off after a few years, bankruptcy judges can get rid of [...]

Congrats on Getting Your First Credit Card! Now Read This

I wish it could be as easy as telling you, “just say no” to credit cards.  But unfortunately they are a rite of passage and important to building the necessary credit score.  I remember getting my first credit card.  It was from Discover.  I was in college, and you couldn’t tell me nothing!  I was grown.   [...]

Racial Wealth Disparities Report Underscores Immediate Need for Civil Rights Intervention

Hmm, as much as I find the study disheartening, I do not agree on Reverend Jackson’s diagnosis of the problem, nor the solution. I wish it was as simple as enforcing civil rights laws. That in no way goes to problems associated with poor education, poor life choices, and unfortunately, poor leadership. A new study [...]

Good News for Student Loan Holders

Whether you’re currently looking for money to pay for college or looking for ways to pay off your school loans, there is good news in a new federal law that will ease both burdens. Kiplinger highlights the good news: Better terms for repayment. The new law offers a more generous version of an existing program [...]

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