October 27th, 2011

Pros and Cons of Using Layaway This Holiday Season

Gift-Layaway

It’s not even Halloween yet and the mania around holiday shopping has already begun. The latest ploy to send holiday shoppers into a spending frenzy? The reemergence of the layaway plan. In response to customer demand and the current state of the economy, Walmart has decided to join other major retailers like Sears, Best Buy and Toys “R” Us in bringing back the old-fashioned layaway program.

Using a layaway system seems like a good alternative to a credit card at first glance, but like any financial decision, it’s always best to weigh the pros and cons before jumping in. A layaway plan can be a good choice for some consumers, but there are other things to consider before you decide to leave your credit cards out in the cold this winter.

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October 13th, 2011

Will Bank Transfer Day Take Down Big Banks?

Man-Transferring-Money

Occupy Wall Street has received a lot of media attention due in large part to the protests and arrests occurring in New York and other major cities. Many consider the conversation around the dissatisfaction of banks to be a constructive idea, yet despite their growing following, Occupy Wall Street has yet to put any plans into motion to change the system.

That all changed this past week when an event called “Bank Transfer Day” emerged on Facebook encouraging people to switch from their current bank to a credit union by Nov. 5. While the event’s creator is not directly tied to Occupy Wall Street, many of its followers have shown support for the event, and it could mark the turning point for the movement.

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October 5th, 2011

Wednesday Roundup: Channel Your Inner Science Nerd to Make Extra Money

nerd sm

"Here are a few of my favorite ways to make money with science… Become a NASA Test Dummy - NASA is currently looking for willing participants to come down to their University of Texas facility and be a part of a bed rest study. The study pays participants $5,000 a month to stay in bed for 90 days and let NASA study the impacts to your body." Frugal Dad

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March 8th, 2011

Who Do You Love? Banks Battle It Out With Flashy New Ad Campaigns

choose bank thumb

Banks these days just aren’t what they used to be. The numbers prove it.

A new study shows that the banking industry experienced minimal growth in 2010 as compared to 2009.

So, banks are combating the negative buzz with some new, out-of-the-box marketing strategies.

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January 29th, 2010

New FHA rules affects consumers, housing market, and economy

The Federal Housing Administration is undergoing major changes in 2010 to tighten lending standards, raise credit score requirements, and increase mortgage premium costs in an effort to strengthen the agency’s weakened financial state and reform the lax lending practices that contributed to the housing crisis. The FHA does not provide mortgage loans itself, but offers […]

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January 6th, 2010

Wednesday Trends in Credit Cards & Debt

Every penny counts today as the value of the dollar continues to decline in the new year. The blog, “Dual Income No Kids Finances,” posted this picture of what a dollar buys to see just how much American money has depreciated in comparison to world currencies. If you’re keen on paring down debt, consider the […]

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January 1st, 2010

Friday Scoop on Credit Karma & Housing Market News

To kick off a prosperous 2010, here are some highlights from Kiplinger’s 11 Things to Celebrate as 2009 Comes to A Close: credit card debt is declining, the personal savings rate is up again, and it’s the best time in decades to buy a new home! Cheers to continued financial success and good news in […]

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December 31st, 2009

79.9% interest rate hike?!

First Premier Bank’s, a subprime credit card issuer, latest 79.9% interest rate hike has likely set a record as the most exorbitant interest rate ever in the credit card industry. It isn’t out of the norm for issuers to be enforcing rate hikes and new fees; it has become a normalized practice in the industry […]

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December 30th, 2009

Wednesday Trends in Credit Cards & Debt

Do you think you could live happily on 75% less money? MSN Money poses this question as the Great Recession spills over into 2010 and challenges consumers to do more with less money. Is living a happier, more financially-fit lifestyle on your list of resolutions this year? Read ahead for debt reduction tips and credit […]

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December 28th, 2009

Dear Credit Karma – Negative Marks On Credit Report

Dear Credit Karma, How do I get hard credit inquires off my account? There is no sure method to get hard credit inquiries “off your account” other than waiting out the two year term hard inquiries remain on a credit report. A hard inquiry is a credit report check by a lender as part of […]

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