Personal Finance Articles

Lately, I have been offered a promotion. However, my employer isn’t raising my income. That means he wants me to handle more responsibilities at a reduced price. While I was having a serious discussion about this issue with my neighbor, we realized that the relationship you share with your employer is quite similar to that with your girlfriend. How’s that? I’ll explain. You want your girlfriend to be happy Of course, everyone wants their girlfriend to be happy. As soon as you have a girl, you always ensure that she is happy, and the reason, as Hooberstank sung, is you. You do everything that’s humanly possible like bring her roses, regular surprises, make her laugh, etc. However, if you inspect properly, having a job is quite similar. You always ensure that your employer is happy with  [...] 

Recent crash in the real estate market has affected almost everyone. However, it was believed that celebrities’ home were quite an exception. True, even I believed until now. Scarlett Johansson, famous Hollywood celebrity for those who don’t know much about her, purchased a house for $7 mn in the year 2007. However, the value of this house, according to current market trend, is mere $4.59 mn. For those who can afford it (obviously another celebrity, who else can buy it), it is definitely an excellent deal. These pictures of the house were released by CNN Money, the news media that first gave the report the celebrity’s intention. Looking at these pictures, it’s quite disappointing that Scarlett is compelled to sell such a remarkable and gorgeous home, for unknown reasons. We never quite  [...] 

The debit card is something that you and I use so frequently, that we are hardly conscious of it. We hardly think about our debit card transactions unless for the very few minutes when we are actually in the process of the transaction. But Visa is one company that is minding all your debit card transactions. The way you swipe your debit card will determine how much money the company is going to make the retailers cough up as fees. This is so high that retail outlets like Costco and Walmart really limit the way you swipe your credit card.  These processes are opaque to the debit card users. Signing The Bill V/S Typing Your Pin Makes A Huge Difference As a customer, it might not make a difference to you weather you sign your debit card bill or type your PIN on it, but for the retail outlets  [...] 

The new law for credit card users and providers will take effect this week. While it is quite beneficial for the users, credit card providers definitely aren’t happy. Hence, they will attempt to rip off your wallet through other sources. So, it is advisable to be very vigilant especially for the next few months to avoid being stripped. According to the Federal Reserve Board, the new credit card law obliges credit card providers to inform customers about any major change in the terms, at least 45 days in advance. Overdraft facility, which was initially provided by default, will now be optional and not automatically assigned. Hence, if you shop for something that exceeds your credit limit, it would be denied. And obviously you won’t be charged any fee. However, this new rule wouldn’t keep  [...] 

January is so special for so many good reasons. Apart from the obvious psychological high that anything fresh gives, January is the time when the financial and economic sectors experience changes. One of these is the rise in the prices of securities. In fact, in December, every year, people rush to buy securities in anticipation of price hikes in January and then sell them in January at a profit. If you are not already doing this, try this from this year. You can make a few extra bucks. That way you start your year well and like so many others you might be happy with the psychological boost that a well started year gives! January is the time when investors focus more on stock markets with a hope that the year ahead is going to be a great one for the stock markets, especially when the market  [...] 

A few years ago, a new job or a good academic opportunity would prompt people to leave the comforts of their home and wander over to other lands, but now, the recession seems to be forcing people to relocate to places with a lower cost of living. A lot of people who are finding it difficult to make their ends meet in their places of residence are moving over to other cities and towns where the cost of living is lower. Mint has come up with an infographic that shows the places from which the maximum exodus is taking place along with the social section that is out moving out the most. People are mostly relocating to Texas where the cost of living appears to be lower than in other cities. The lower stratum of the socio-economic class is badly hit by the recession and they are the ones moving out.  [...] 

Learning financial prudence doesn’t necessarily have to be a boring affair now! TV shows, of all things, can teach you basic financial skills. Watch the new age sitcoms, dramas or reality shows and have a lesson or two to learn from them. TV shows are being viewed as potential teachers of financial skills, by many financial experts, especially for the Gen Y. The reason is very obvious. These days youngsters don’t give a damn to anything other entertainment. Ask them to attend special classes on financial skills and they are surely going to frown at the idea. Ask them to visit websites and they’ll find them dull and boring. Sit personally to teach your young one a tip or two on frugality and most probably you’ll be short of the appropriate audience, on one pretext or the other. You read  [...] 

Getting rid of debt is something that many of us sincerely don’t endeavor to achieve. Postponing debt is what we commonly do, but in the process pay up extra money to the lender as interest. Paying off debt in time requires the presence of resources for clearing the debt as well as the psychological makeup for steering yourself clear of all dues and keeping yourself free. Mental placidity is only achieved when you clear off all your dues. Evading the dues might give temporary satisfaction of saving up your bucks but eventually you’ve got to pay up someday or the other. Here are three factors that can really make you pay up your bills: Motivation “Where there’s a will there’s a way”. If you are motivated to pay up your debts, there’s nothing that can come in your way. As mentioned  [...] 

Last year, with so many bank failures, people are apprehensive about opening accounts with banks. Some banks have survived the crisis while others have simply given in to the economic pressure. Why some have survived while others have perished is something that we need to reflect upon. Here is a discussion on the top banks and bottom banks for this year. By predicting the success or failure of a bank you can think of making or not making investments in them. Best Banks Bank Of Hawaii is the best bank according to the Forbes List for this year which seems to have survived the economic crisis with its traditional loan policies while other banks were lured to new age real estate policies which turned out to be pretty risky. UMB Financial, Kansas City, is the next bank that has withstood the economic  [...] 

Barrack Obama has been copping up with deadly problem of Personal Finance in which many of the points and issues are covered. One of the biggest migraines of US economy and possibly of the entire world is the huge term of CREDIT CARD DEBT. This is the most commonly seen hurdle lingering between Personal finance development and failure. Recently President Obama introduced the largest Federal Stimulus Package for the Credit Card Debt holders of USA who have bottomed down in the financial lives. Here are some of the major points of this package. Credit card debt Settlement The biggest Credit card debt relief is tried to provide with the weapon of Debt Settlement with the company. Major part of this Federal Stimulus Package has been allotted to the Credit Card companies who are having huge amount  [...]