August 8th, 2011

Monday Roundup: What the Big Mac says about purchasing power

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Personal Finance News

  • What the Big Mac says about purchasing power. We like fast food — we’ve determined this before. But can fast food tell us a little something about our money and how it works in the global economy? For the past 25 years, The Economist has been releasing its annual Big Mac Index to help us understand purchasing-power parity, or the idea that exchange rates should balance out the prices of two identical goods or services. Bundle
  • Why Is It So Darn Hard To Save Money Sometimes? Everyone knows that it’s good to save money. The more you can save the bigger the cushion you’ll have if anything goes wrong in your life or something needs replacing in a hurry. The Smarter Wallet
  • Get Started — Buy One Stock. There are some investors who, for one reason or another, are out of the stock market. I hear this story all of the time, usually the result of family matters or an impulsive move to cash. A Dash of Insight
  • No More Federally Subsidized Loans For Grad Students. Bad news for 82 percent of Sugar readers who are considering grad school: there will be no more federally subsidized loans for graduate or professional students as a result of the latest debt deal. Savvy Sugar
  • Is Your Hobby Holding You Back Financially? What are your hobbies? What is it that you enjoy doing when you’re not at work? Perhaps you love to restore cars, or maybe you’re an avid golfer (I can relate to you on this one for sure!), or maybe you love the serenity of the morning sunrise on the pond while you have a pole in your hand (I’m referring to fishing for all of you that don’t understand). Bucksome Boomer

Credit Report & Credit Score News

  • Don’t Worry if Resold Loan Appears Twice on Credit Report. Many lenders forgive the deficiency amount and don’t try to collect it. That’s not the case with all lenders, however. Depending on the type of foreclosure proceeding and the state laws that apply, it could be that you won’t have to worry about the lender seeking repayment of the deficiency balance. Fox Business
  • What is the Average Credit Score? The desire to know what your credit score is in comparison to the national average may be fueled by an innate interest to understand where you fall in comparison to others or it may be motivated to understand what it takes to qualify for a loan. Dough Roller
  • How Long Should Paid-Off Medical Debt Be Part Of Your Credit Report? Right now, any medical debt that gets sent to a collections agency can remain on your credit report for up to seven years, even after it’s been paid off. The Consumerist
  • The Myth of a “True” Credit Score. Personal finance experts extol the benefits of periodically reviewing your credit report and score. In fact, credit reports are so important that federal law requires the three major credit reporting agencies to make credit reports available for free. U.S. News

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