February 4th, 2011
Friday Roundup: Only 26% of Americans trust financial institutions
“It’s a good thing the American financial system doesn’t have to run for election.” Ain’t that the truth.
MSNBC reports that just 26% of Americans trust the financial system. Surprisingly, this is good news for big banks and financial institutions; its up from 20% since January 2009.
Big corporations fared the worst, with only 14% of Americans saying they trust major businesses. The stock market is also low on the trust index, with only 16% of Americans saying they trust it. Banks, on the bright side, had the biggest percentage gain in trust this year, up to 43%.
The survey itself, compiled by the University of Chicago and Northwestern University, aims to capture “the amount of trust Americans have in the institutions they can invest their money”. Would you say you trust the financial system?
TGIF! Happy Friday, and we’re sending you soaring into the weekend with some great picks from around the news and blogosphere, such as The 5 states where housing will recover first and It’s Not Magic: You Too Can Trade Up A Paper Clip to a House. Enjoy the reading, and have a fantastic weekend everyone!
Credit Karma News
- How your age affects your credit. When it comes to having good credit, people have different goals at various stages of their lives. For young people, it’s about getting their credit profile in good shape so they can one day buy their dream home. Older people may be more concerned with paying down debt to retire comfortably. Whatever the stage of your financial life, see how these age-specific credit tips can help you manage your money. Creditcards.com
- Cloud of secrecy surrounds new credit scores. “No one just relies just on FICO anymore,” said Ken Lin, chief executive officer of Credit Karma, which tracks credit score information. Minneapolis Star Tribune
- How Do Credit Simulators Work? In other words, if you have $10,000 in credit card debt and want to know what will happen if you’re able to pay off $5000 of it, a credit simulator will let you know. CreditShout
- Monitor and Dispute: 7 New Ways to Improve Your Credit Score Fast. Whether you’re trying to raise your score or maintain your top-notch report, here are the newest ways to see an immediate change in that magic number. Savvy Sugar
- Been Turned Down for Credit? You Could Get a Free Credit Score. One of the provisions in the Dodd-Frank Wall Street Reform Act singed into law in July 2010, is known as the Free Access to Credit Scores. This part of the legislation requires lenders (and others) to provide you with a free credit score disclosure when an “adverse action” results from your credit. Cash Money Life
Housing Market News
- DIY home guide: Winter. How to protect the value of your property, cut energy costs, avoid costly repairs, and spiff up your surroundings this winter. CNN Money
- The 5 states where housing will recover first. But the recovery in home building and home sales will vary widely from one part of the country to another, with the states that had the most success during the boom times of the last decade being the last to come back from their historic bust. MarketWatch
- 2011 to Hit Foreclosure Record – Three Need-to-Knows for Foreclosure Buyers. Economists say the recession ended in mid-2009. Yeah, I know. But the American public has never really bought that line, especially when it comes to the real estate market. WalletPop
- Cost of Living Comparison and Difference Between Cities . Of the three states I have lived in, New Mexico was definitely the cheapest in every way. Rent on my 3 bedroom house with acres of land was under $1,000 a month, car insurance and registration was dirt cheap, gasoline was $1.00 less/gallon than California, going to the movies was only $6, and the lack of much to spend money on allowed me to save up some money. My Two Dollars
- It’s Not Magic: You Too Can Trade Up A Paper Clip to a House. Believe it or not, to get that house for the price of a paper clip, Kyle MacDonald — a.k.a. “the red paper clip guy” — embarked upon a one-year journey that resulted in 14 trades. Len Penzo dot Com
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- Friday Roundup: How We Sold Our House in 5 Days If you’ve been following the story of our recent life changes, you know that we just bought a home about...
