Tuesday, March 31, 2009

April Fool's Pranks For the Entire Family

Last minute April Fool’s pranks

Are you ready for April Fool’s Day? Sure, it isn’t a holiday that most people think about, but it can be lots of fun, even without payday loans. We can all use some more laughter in our lives, particularly during difficult financial times. Blithe Platt writes for Examiner.com that there are simple ways to make April Fool’s pranks quick, harmless and fun. The only caveat she gives is that you should always keep the April Fool's Rules in mind and things can be enjoyable for all.

  • Super soaker - All you need here is a rubber band and a kitchen faucet with a spray hose. Turn the faucet off, place the rubber band around the spray handle to keep it in the “on” position. Once an unsuspecting friend or loved one goes to use the sink, enjoy the wet fun, then hand them a towel
  • “Dead” mouse - Unplug the mouse from the back of the computer. You’ll be surprised (and amused) at how long it will take even the most computer savvy to figure out the problem. In a similar vein, the small piece of Scotch tape over the telephone mouthpiece is also fun
  • Ewwwthpaste - Place an edible (but definitely ugly) object like a raisin into a friend or loved one’s toothpaste tube. This tends to work particularly well with some females (not to play stereotypes or anything). When they squeeze, listen for the gross-out!
  • Magic milk - This is great if you have younger children. Turn it up a notch with the moo milk in the fridge by adding food coloring! Explain to younglings that recent scientific studies have shown that colored milk possesses more of vitamins A(pril) and F(ool's) than plain old white milk
  • Big foot - If you crumple up newspaper and stuff it into the toe of someone's shoes, they’re sure to wonder - at least for a monent - whether they’re turning into the Incredible Hulk. This is a great one for kids to play on dads.
  • Catcher in the Bowl - This one will get messy, so watch out. Simply stretch Saran wrap across the family’s favorite toilet seat. Be careful to make it smooth so as not to attract pre-prank attention. Bombs away!
  • Armoire turnover - If your friend or loved one’s furniture allows, take their dresser drawers out, turn them over, and reinsert them. This works best if the drawers are already empty and your victim is ready to fold and put away laundry
  • Correction, please - Rig someone’s auto-correct feature in Microsoft Word to automatically replace some commonly typed word  like “the” with “April Fool's!”
  • Sleeping fools - This is one for parents to play on multiple small children. Once they’re asleep, move each to a different bed. When they wake up… April Fool’s!

Related Video: ... click here to read the rest of the article titled "April Fool's Pranks For the Entire Family"

Gary Sheffield Released | Dollars and Sense

Nobody’s safe

If the current recession economy has taught us anything, it’s that no matter how strong a position you think you have, no job is completely safe when companies look to downsize. I think there are better ways to handle the situation than putting people who depend upon every penny of their job earnings to be able to put food on the table, but then again I didn’t graduate from executive genius school…

Apparently, even potential Hall of Famers are in danger of recession cutbacks. However, I’m sure Gary Sheffield has something put away and won’t need to depend upon cash advance loans. Tom Gage of The Detroit News reports that the Detroit Tigers are prepared to eat the $14 million salary they owe the power-hitting outfielder/designated hitter for 2009.

That’s a shocker, baseball fans

Reports indicate that Sheffield didn’t see this coming. He had recovered from a shoulder injury and was ready to have a productive season. His first home run of the year would have been his ticket into the elite 500-home run club, an achievement that generally guarantees a player’s induction into the Major League Baseball Hall of Fame. However, in the post-steroids era, that’s no guarantee (as Mark McGwire and Raphael Palmeiro well know). Sheffield hasn’t escaped steroid suspicion, so we’ll see how the sportswriters view him, post-career. ... click here to read the rest of the article titled "Gary Sheffield Released | Dollars and Sense"

Surviving the Recession, Episode 3: Cheap Transport (1)

Save on transportation

You know how to save money at the grocery store. You know how to use your food skills to stretch your food dollar once you get the groceries home. These are vitally important skills in this economy; the recession comes knocking at everyone’s door. Cutting back on spending is the goal, and this doesn’t just mean leaving out those extra leisure purchases. This means shaving dollars off your everyday expenses. Payday loans may be around to help, but adapting habits to ou r environment is what we must do. That’s what really makes a difference.

Now let’s take a look at another everyday part of your budget that we need to keep an eye on during a recession: automobile expenses. Try as many of these helpful hints as you can and see how far ahead you come out at the end of the month!

  • Combine errands to one trip and use the most efficient route - I know this is difficult for me, because I generally don’t plan beyond the day in front of me. However, combining trips saves you time and money. It’s also beneficial for the environment, as you aren’t starting your car as often (the time when combustion creates the largest quantity of atmospheric pollutants. Using an efficient route simply means knowing where you live, work and play. Don’t be afraid to try new things and access Web sites like Google Maps or your trusty paper road map. You will find a better way to get there if you look hard enough. Knowing what days and times traffic is heavy (and in what areas) can also help make your trips more efficient
  • Walk - If you are lucky enough to live near a city center where all sorts of amenities are in close proximity, leave the car at home and start walking. It requires no gasoline and contributes to your physical fitness. Even if you live outside of downtown and have to travel a bit farther, why not make an adventure out of it and walk an extra mile or two? And why not CLICK HERE for more tips?

Related Videos: ... click here to read the rest of the article titled "Surviving the Recession, Episode 3: Cheap Transport (1)"

Monday, March 30, 2009

Obama Seeks To Change Federal Student Loans

President Obama’s higher education agenda includes major changes to the federal student loan program and a push to make Pell grants for lower income students an entitlement. Similar proposals were pushed by Presidents Bush and Clinton. But they went nowhere on Capitol Hill. So is this the year they will finally pass?

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The Obama Stimulus Plan and Payday Loans

Barack Obama: Introducing the New Stimulus Plan

A New Day - Barack ObamaThe new stimulus plan that has been introduced by U.S President Barack Obama has become the subject of much debate, discussion and deliberation, especially in the context of its possible effects on the current system of payday loans.

What the Stimulus Plan Aims To Do

To combat the economic crisis by inducing future growth in a number of crucial sectors such as those of health and energy and also by insuring and/ or creating as many as three million jobs, the plan aims to improve the current state of the economy and augment profits in the future.

It is believed that if the stimulus plan is indeed able to achieve all of these aims, the positive effects will not be concentrated only in the United States but will possibly spread over to other parts of the world as well.

Working of the Stimulus Plan in the short term and long term

The hope of the stimulus plan is that it will improve the economy in two ways. One aims at boosting the economy of the country in the short term and the other is aimed at creating profits for the fiscal framework of the country in the long term period. For the short term increases, the plan is intended to work by the means of persuading both individual customers and organized firms to purchase and utilize goods and services available. The direct benefit of this method is to be seen in the form of an immediate increase in the levels of sales. ... click here to read the rest of the article titled "The Obama Stimulus Plan and Payday Loans"

Hard times come to Yuppietown

Everyone came, but mainly to look

Yuppietown 1Today was "Open House" for the artists of Yuppietown, a small town of about 10,000 souls about 10 miles north of here. It was Sunday, so we slept late, ate a lazy breakfast and then drove up to take a look at the action and see how our daughter-in-law was faring with her jewelry sales. "Wow, there's nowhere to park!" was our first mixed feeling reaction – disappointment at having to walk an extra hundred yards and joy because Diane had so many visitors, and hopefully, buyers in her house. I didn't intend buying anything so I hadn't taken a Payday Loan and my wallet was empty.

Very few sales

Inside, the house was humming with activity and a large throng of people moving slowly from one display to another. Diane was standing in the entrance smiling at her visitors. I asked how it was going and she whispered, "So far they're only looking. Very few sales." A few minutes later a woman bought a pair of earrings and broke the ice. We hung around for a while and then walked across the street to another Open House. Here a photographer was displaying stunning mounted color photographs and on the lawn a woman had 3 tables loaded with her pottery. They both said, "No sales or very few sales and cheap stuff only."

Yuppietown

Yuppietown didn’t spring up overnight. It grew slowly and surely as the new breed of hi-tech men and women who were earning large salaries looked for a place to build their dream homes. They built large houses and planted lush gardens. These smart new generation techies got into all kinds of new industries, including many of the old established hi-tech companies. In the streets outside their cars carry company logos such as Microsoft, Intel, Advanced Materials, Comverse and many other lesser known companies. These men and women are enthusiastic and motivated and their children are high-achievers like their parents. ... click here to read the rest of the article titled "Hard times come to Yuppietown"

GM Stock Tanks After Short-Term Bailout Announced

A stinging quick rinse

Susan Tompor of the Detroit Free Press writes in a recent editorial that GM will have 30 days to detangle. President Obama calls it a “quick-rinse” bankruptcy. GM stock has tumbled as a result. Investors don’t see more cash advance loans coming from the Obama administration.

Brad Coulter of O’Keefe & Associates said that “the quick rinse sounds good; I just don’t know if it would really work.” The fast-track, pre-packaged reorganization plan the Obama administration appears ready to lay on General Motors is intended to erase debt and contractual obligations, but it has also never been done in this way before.

What would happen?

We don’t know for certain yet. Not until President Obama explains his intentions more fully. Some speculate that the federal government will specify exactly how much money will be made available for what creditors. Take it or leave it.

“We’re in new territory,” Coulter said. “Unless a lot of government funding were involved, I’m not sure how the quick rinse would work.”

No more bailouts?

President Obama has made it clear that the GM and Chrysler will have a limited amount of time to work with creditors, unions, and other stakeholders. They must fix the mess they’ve made by completely restructuring their business, which is no small task to complete in 30 days. ... click here to read the rest of the article titled "GM Stock Tanks After Short-Term Bailout Announced"

GM Stock Tanks After Short-Term Bailout Announced

A stinging quick rinse

Susan Tompor of the Detroit Free Press writes in a recent editorial that GM will have 30 days to detangle. President Obama calls it a “quick-rinse” bankruptcy. GM stock has tumbled as a result. Investors don’t see more cash advance loans coming from the Obama administration.

Brad Coulter of O’Keefe & Associates said that “the quick rinse sounds good; I just don’t know if it would really work.” The fast-track, pre-packaged reorganization plan the Obama administration appears ready to lay on General Motors is intended to erase debt and contractual obligations, but it has also never been done in this way before.

What would happen?

We don’t know for certain yet. Not until President Obama explains his intentions more fully. Some speculate that the federal government will specify exactly how much money will be made available for what creditors. Take it or leave it.

“We’re in new territory,” Coulter said. “Unless a lot of government funding were involved, I’m not sure how the quick rinse would work.”

No more bailouts?

President Obama has made it clear that the GM and Chrysler will have a limited amount of time to work with creditors, unions, and other stakeholders. They must fix the mess they’ve made by completely restructuring their business, which is no small task to complete in 30 days. ... click here to read the rest of the article titled "GM Stock Tanks After Short-Term Bailout Announced"

Detroit Free Press Launches Digitalfreepress.com

Freep.com delivers Detroit news

Detroit Free Press

Detroit Free Press

As newspapers continue to struggle with the bottom line, some organizations have finally come up with a new business plan. The Detroit Free Press and the Detroit News are changing to a hybrid approach to getting the news out.

Shrinking yet growing

Both newspapers are going to shrink a bit, meaning they will have fewer pages. The Detroit Free Press is heavily marketing freep.com and digitalfreepress.com, which are online sources of the newspaper’s content. Readers will be able to read and see the newspaper online every day instead of getting it delivered to their homes.

Why two sites?

The Detroit Free Press has two web sites because it is sharing news in two different formats. Freep.com is more like a traditional web site that most newspapers have. Digitalfreepress.com is a digital replica of the printed newspaper. Right now the sites are open to the public for free. However, if you don’t have any extra cash you might need to get a payday loan to view it in the future, when the Free Press will start charging for it.

Other changes

Both newspapers are also cut back home delivery to only three days a week. The Detroit News and the Detroit Free Press will only be delivered to homes on Thursday, Friday and Sunday. ... click here to read the rest of the article titled "Detroit Free Press Launches Digitalfreepress.com"

Would You Feel Confident Buying an American Car?

If you have not been aware of the recent news, General Motors and Chrysler have asked the government for more money, but the Obama administration is pushing back. The government’s task force has determined that the restructuring plans submitted by the companies in return for continued financial support are inadequate.

As a result, the Chairman and CEO of General Motors, Rick Wagoner, is resigning from his position and Chrysler is heading towards a possible merger with Fiat. With GM, the government will provide the company with the funds it needs to operate for sixty days. There is a possibility that General Motors will not survive in its current form two months from now. Chrysler, on the other hand, will only have thirty days to turn around a plan for moving forward.

Bankruptcy may be the answer for both companies. To prevent consumer trepidation about buying a car from a company that might not support its obligations like warranties and maintenance, the Treasury Department has stepped in. The government plans to back warranties on all GM and Chrysler vehicles purchased while the companies exist in their current state of collapse or restructuring.

If you typically buy cars from GM and Chrysler, would you be more or less inclined to purchase a vehicle right now? Are you confident your car will receive the support it needs from these companies or the government throughout its usable life?

You can read the full text of President Obama’s remarks today about General Motors and Chrysler here.


Related Articles at Consumerism Commentary: A Personal Finance Blog Since 2003:


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Obama Wants To Change Federal Student Loans

President Obama’s higher education agenda includes major changes to the federal student loan program and a push to make Pell grants for lower income students an entitlement. Similar proposals were pushed by Presidents Bush and Clinton. But they went nowhere on Capitol Hill. So is this the year they will finally pass?

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Sunday, March 29, 2009

Friday, March 27, 2009

Rep. Visclosky's Tale Shows Pork Is Hard To Trim

If it seems that Congress can’t keep those special provisions knows as earmarks under control, there are big reasons why. Follow Democratic Rep. Peter Visclosky’s earmark trail to Northwest Indiana and see where the money goes.

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Make Payday Loans your Last Resort

Payday loans – financial emergencies get definite solution

People, often move towards payday loans whenever they need cash immediately, without analyzing whether the situation is critical enough to borrow these loans.

Instant funds for emergencies

Remember, payday loans assist people with the instant supply of funds during financial emergencies. They are quite easy to acquire whenever you are in need of cash. The main motto of payday loans is to serve people in a short-term critical financial situation, or when any emergency financial expenses arrive and you have no money to deal with them.

However, some people use payday loans incorrectly by acquiring them frequently, even when they are not facing any financial emergency and when they just need money to spend unnecessarily. Their unnecessary expenses may involve spending money on vacations and holidays, organizing parties, buying luxury items etc.

To satisfy their urgent desire of money anytime, anywhere, they borrow payday loans. The online means of obtaining payday loans have added an additional advantage to their borrowing habit. Instant online payday loans are a much easier and convenient type of financial assistance as compared to the loans obtained from the brick and mortar financial institutions and lending companies.

These online lending institutions aim to providing immediate funds to those who are in desperate need of cash to solve their urgent financial problems. Quick approval and ease of obtaining them makes them immensely popular among the borrowers. Hence, they are borrowed by the customers every now and then, even when they do not need the funds desperately. ... click here to read the rest of the article titled "Make Payday Loans your Last Resort"

No ACORN Should Be Left Unindicted (4)

Trying to make lawlessness “social justice”

This concludes a four-article series regarding ACORN and its connections in politics, big money and abuse of the taxpayer’s trust. It can be argued that no one entity has brought the American economy to its knees without a cash advance, but ACORN and organizations close to them like Self-Help, Inc (which includes Martin EakesSelf-Help Credit Union and the Center For Responsible Lending) have contributed mightily. If you missed the early parts of this article, here are parts ONE, TWO and THREE.

…Their action convinced state attorneys general to sue Household, which eventually forced the finance corporation to pay $484 million to borrowers. In a separate suit against Household, ACORN walked away with a $150 million settlement.

But what of the Sandlers?

ACORN made their “Robin Hood” play for public affection by bleeding Household’s coffers. But will they do the same to their own allies - Herbert and Marion Sandler - who are as responsible for abusive mortgage lending policies as anyone in the country? They assisted the prosecution before - will ACORN be consistent here or prove themselves to be self-interested grandstanders?

It’s no surprise that ACORN isn’t helping send their (and the Center For Responsible Lending’s) best buddies up the river.

Care to rethink that, Ms. Lewis?

Bertha Lewis declined to comment on Anita MonCrief’s article when asked for direct comment, but her Huffington Post piece clearly outlines ACORN’s position. Bertha Lewis continues ACORN’s battle chant: ... click here to read the rest of the article titled "No ACORN Should Be Left Unindicted (4)"

From An ACORN Comes Withering Roots (2)

They are mobilizing to grab power

(This is part two of a four-part article. CLICK HERE if you missed part one. If you want more information about a payday loan, FOLLOW THIS LINK)

Polett writes

Both to focus the strategic thinking of our political work and to put ourselves in position to attempt to raise the funds to  support an ambitious, multi-year political program that grows out of ACORNs base and strengths, I believe we need a serious, well-argued business plan. On the fund raising side, places we will want to share this business plan include the  billionaires club (Democracy Alliance), the billionaires (Sandlers, George Soros, etc.), friends and opinion leaders in the voter engagement world (e.g., Frank Smith, John Podesta), SEIU, the voter participation foundations, etc.

…A key element of and argument for our plan why ACORN? is that ACORNs model and history of building ongoing, multi-issue, geographically-based, politically-engaged membership organizations, plus the large organizing staff and organizing culture that ACORN brings, mean that ACORN is the perfect entity to build the kind of long-term, permanent electoral capacity that progressives need to take back power in America.

ACORN, Herbert Sandler, Soros and John Podesta have their fingers in many different pies. According to Anita MonCrief, Podesta ran the Sandler- and Soros-funded Center for American Progress. He was also Barack Obama’s transition team leader. Upper management was in place and well-connected. ... click here to read the rest of the article titled "From An ACORN Comes Withering Roots (2)"

Blender Magazine Will Stop Printing After April Issue

Magazine catches economic infection

blenderSeveral newspapers recently have decided to cease print operations and become online-only news operations. It seems this trend is creeping into the magazine industry now, too.

Blender Magazine plans to maintain its web site, Blender.com, but its April issue will be the last to exist in hard copy form.

Yep, it means layoffs

Blender’s owner Alpha Media Group announced the change Thursday, and it says about 30 employees will lose their jobs as a result. With fewer jobs available every day, they might need to live off short term loans for a while.

"We went as far as we could in a difficult environment," said an Alpha Media spokeswoman, Nora Haynes.

Blender’s ad content fell 31 percent in 2008.

Blender history

Blender Magazine hit the shelves in 2001. An entertainment magazine, Blender often focused on music in reviews and features such as “greatest songs ever.”

Other fallen publications

Other magazines have fallen prey to declining ad revenue as well. This year, other big publications including Domino and Country Home have already ceased printing.

More publications’ sad stories

Newspapers seem to be bearing the brunt of advertisers’ decreasing demand for print space. Recently the Seattle Post-Intelligencer decided it would convert to an online-only format. The Rocky Mountain News in Denver shut its doors completely after 150 years in the business. ... click here to read the rest of the article titled "Blender Magazine Will Stop Printing After April Issue"

Would You Buy A Used Toxic Asset From This Man?

The Treasury’s new plan to buy up to $1 trillion in toxic assets that are weighing down bank balance sheets can be a bit complex. But think of it as a used-car deal, and you can begin to understand how it might work.

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Thursday, March 26, 2009

Surviving the Recession, Episode 2: Planning Meals (C)

Cheap isn’t chintzy

In fact, being food frugal is essential at any time. Resources are limited and we must be responsible to ourselves, our wallets and the world. These ideas are personal loans to you, loans that are sure to help you save hard-earned capital. If you missed parts ONE or TWO, get to clicking!

  • Keep soup starter in the freezer - This works well with leftovers. Just add things in and nothing goes to waste
  • Look for events that entertain and feed - Sam’s Club and Costco are great places to sample free food while you shop. Do that enough and you have a small meal. Social gatherings with potlucks are also great. Most importantly, try to get yourself invited to as many weddings as possible - they’re catered!
  • Drink water, not soda - I know how addictive soda can be. That brief sugar rush is good stuff. However, I am thankful that I developed a love of water at a young age. Now I drink 8-12 glasses per day. Water bills may be more expensive now than ever, but it will never exceed the cost of soda
  • Make your own jello cups - This is easy to do and much less expensive that keeping your pantry stocked with lunchtime snacks
  • Trick your kids - If they don’t like generic cereals, put the generic into a name-brand box
  • Raise your own chickens - If you can get the eggs at home, why pay store prices? But as BackyardChickens.com tells us, there are other benefits. The fowl are easy and inexpensive to maintain, the eggs are fresh and chemical-free, they can make great pets they take care of weeds and create free fertilizer for your yard
  • Join a freezer club - Use an online service like meetup.com to meet people in your area who would enjoy meeting and swapping recipes and frozen meals. Here’s an example of an online freezer club
  • Make your own baby food - Buying all that bottled stuff in the store is expensive, and if you aren’t buying organic, you’re introducing your child to preservatives before they’ve even had a chance. There’s lots of info online about this. Here’s a nice site that uses basic produce you find in any grocery store

Want even more ideas? Keep reading, because this article CONTINUES ... click here to read the rest of the article titled "Surviving the Recession, Episode 2: Planning Meals (C)"

Surviving the Recession, Episode 2: Planning Meals (C)

Cheap isn’t chintzy

In fact, being food frugal is essential at any time. Resources are limited and we must be responsible to ourselves, our wallets and the world. These ideas are personal loans to you, loans that are sure to help you save hard-earned capital. If you missed parts ONE or TWO, get to clicking!

  • Keep soup starter in the freezer - This works well with leftovers. Just add things in and nothing goes to waste
  • Look for events that entertain and feed - Sam’s Club and Costco are great places to sample free food while you shop. Do that enough and you have a small meal. Social gatherings with potlucks are also great. Most importantly, try to get yourself invited to as many weddings as possible - they’re catered!
  • Drink water, not soda - I know how addictive soda can be. That brief sugar rush is good stuff. However, I am thankful that I developed a love of water at a young age. Now I drink 8-12 glasses per day. Water bills may be more expensive now than ever, but it will never exceed the cost of soda
  • Make your own jello cups - This is easy to do and much less expensive that keeping your pantry stocked with lunchtime snacks
  • Trick your kids - If they don’t like generic cereals, put the generic into a name-brand box
  • Raise your own chickens - If you can get the eggs at home, why pay store prices? But as BackyardChickens.com tells us, there are other benefits. The fowl are easy and inexpensive to maintain, the eggs are fresh and chemical-free, they can make great pets they take care of weeds and create free fertilizer for your yard
  • Join a freezer club - Use an online service like meetup.com to meet people in your area who would enjoy meeting and swapping recipes and frozen meals. Here’s an example of an online freezer club
  • Make your own baby food - Buying all that bottled stuff in the store is expensive, and if you aren’t buying organic, you’re introducing your child to preservatives before they’ve even had a chance. There’s lots of info online about this. Here’s a nice site that uses basic produce you find in any grocery store

Want even more ideas? Keep reading, because this article CONTINUES ... click here to read the rest of the article titled "Surviving the Recession, Episode 2: Planning Meals (C)"

Is Obama’s cash advance actually working?

The bailout missionMoney Puzzle

When President Barack Obama signed his mega stimulus package in February, it was nothing less than a big cash advance for 'keeping the American dream alive in our time.' Since then, Mr. President has left no stones unturned to bring the economy back on track. Plan after plan has flooded from his desk to push the economy out of the mess.

The latest, of course, is the plan for toxic assets. The plan, which involves private-public participation, aims at creating some liquidity for about $1 trillion worth of toxic assets. These assets have not only burdened the banks for quite some time now, but are also hindering the confidence of the global financial system. But the million dollar question remains, are these plans really working?

A confident President

Well, Mr. President certainly believes so, though he also admits the fact that it definitely needs more time and patience. In a recent news conference, President Obama said, "It's important to remember that this crisis didn't happen overnight and it didn't result from any one action or decision. It took many years and many failures to lead us here. And it will take many months and many different solutions to lead us out." Yes Sir! That's true for sure.

However, it is possible only when your cash advance flows in the market enriching its liquidity, and not when it just enters the deep pockets of top executives as bonuses. But then, considering it as just one of its own kind, one must set it aside and evaluate all other aspects of the stimulus package before passing any opinion. ... click here to read the rest of the article titled "Is Obama's cash advance actually working?"

Wednesday, March 25, 2009

FDIC Study Says Payday Loans are Cheaper than Overdraft Fees

Report confirms facts

payday_loansIn November 2008, the FDIC released a report called Study of Bank Overdraft Programs. While payday lenders and their customers have known for years that taking out a payday loan is cheaper than overdrawing your bank account, this study calls attention to this fact.

Fee comparison

Lawrence Meyers from Blogger News Network shares an example of what this report shows. He reports that the average amount obtained when bank customers overdraw their accounts is $60. The average overdraft fee? $27. Nationally, the average fee for a $60 payday loan is about $6.

Most banks charge an overdraft fee each time you make a charge on an overdrawn account. So if you use your debit card to buy a cup of coffee when your account is already overdrawn, add the overdraft fee and you’ve got yourself a $30 coffee.

Selective regulation

Meyers also points out that legislators all over the country are calling for restrictions to be placed on payday loan companies. Lawmakers call payday lenders fees “outrageous” and rant about “ridiculous APRs.” However, Meyers notes, no one bats an eyelash when a bank charges $27 for a $1 loan.

The data is astonishing, and unequivocally demonstrates that as consumer activists and grandstanding politicians rake payday lenders over the coals, they ignore the bloodsucking that occurs every time a consumer bounces a check, Meyers writes.

Report encourages responsible usage

Bouncing a check can have some pretty hefty consequences.

Bouncing a check can have some pretty hefty consequences. ... click here to read the rest of the article titled "FDIC Study Says Payday Loans are Cheaper than Overdraft Fees"

How to Save $100 (or More) at the Grocery Store This Month

This is a guest post from Erin, who writes about frugal food at $5 Dinners.

When gas prices were soaring in the summer of 2008, my family was scrambling to find ways to save money. We could not reduce the prices at the gas pumps, we were locked into the lowest interest rate on our mortgage, and our budget was maxed out. I knew the only way we could continue without running into the red each month was to reduce the line item marked Grocery — but I didn't know how exactly to go about doing that.

At that same time, I discovered the world of personal-finance blogs and frugality blogs. It was through these blogs that I found myself a “job”. It wasn’t a job that earned our family any income; it was a job that involved spending less of the income that my husband worked so hard to earn. My new job? Grocery store savings expert!

My new grocery-shopping techniques allowed me to save over $100 the first month, and close to $200 the second month. Our monthly grocery budget dropped from around $500 to $300. (And sometimes less!) Here are the steps I took to save at the supermarket:

  • Get a store loyalty card. Sign up for a card that will help you save money each week at the store (and maybe even earn money back, like with the CVS Extra Care Bucks card.)
  • Study your store's circular. Look through your grocery store's weekly circular to see what is on sale. Products on the front page are called "loss leaders" and are priced very low to entice you into the store, where you will then purchase the loss leaders, but other items as well. Loss leader prices are typically the lowest prices of the season, so it is worth buying extra items if you know that you will use them. For example: If boneless skinless chicken breasts are on sale for $1.77/lb (regularly $5.49/lb), it is worth purchasing 5-6 packages to freeze for use in the coming weeks.
  • Make a meal plan and a shopping list. After studying your grocery store circular, plan a few meals using the products that are on sale that week. (If you need extra help with this, my $5 Dinners blog has a feature called the bargain meal of the week, where different contributors from all over the country post a recipe based on their grocery-store circular.) Create a shopping list based on your meal plan and what you already have in your cupboards. Do not buy anything that is not on your list. You didn't need it when you were at home creating your list, and you don't need it when you are standing in the store — even if you think you need it.
  • Look for marked-down proteins. Watch for meats, chicken, pork and fish that are on sale. Or, better yet, marked down for “quick sale”. These products can be used right away or frozen for future use. A vacuum sealer or food saver system is a worthy investment if you aim to get the very best prices on protein sources.
  • Buy your produce on sale. Purchase produce that is on sale that week. This is often based on what type of produce is in season. This will not only help your pocketbook, but it will also help you explore new foods and experiment in the kitchen.
  • Clip coupons from the newspaper or print them from online. "But they don't make coupons for the products that I buy," you might say. Do you purchase toothpaste, deodorant and shampoo? I hope so! All of these products can be purchased with a coupon. I don't remember the last time I paid for toothpaste. When name-brand toothpastes go on sale for $1, you can match a $.50 coupon that doubles to $1 (if your store doubles) to get the toothpaste for free.
  • Consider digital coupons. If you’re not up to the paper-and-scissors task of couponing, then load your store loyalty cards with electronic coupons. Shortcuts.com, Cellfire, P&G eSaver, and Upromise are four websites that allow you to save money electronically on a wide variety of products. Sign up at each website and the coupons will be deducted automatically from your receipts. Upromise electronic coupons are deposited back into a college savings account you can set up for your children.
  • Resist the displays. Purchase items from the top or bottom shelf, as opposed to the ones at eye level. Manufacturers pay a premium to have their products displayed at eye level, which translates to higher prices for those products! Look above and below for other products that might be similar to what you are looking for. Walk past the large displays for holiday/seasonal items or the cardboard displays that jump out at you as you round from one aisle to the next.
  • Leave the kids at home. Shopping with the kids makes it difficult to focus on your shopping list, your coupons and your mission: To get in and out as quickly as possible, saving the most money possible! Leave the kids at home.  There's something to be said for shopping at 10pm! [J.D.'s note: I love to shop late at night. Kris and I used to do that when we were younger.]
  • Make it a game. Challenge yourself to save $5 one week, $10 more dollars the next week, $20 more the following week, and so on. Before you know it, your grocery bill could be half of what it once was!

With a little time, planning and extra effort, saving money at the grocery store can be both fun and rewarding.  By utilizing these techniques and becoming a "professional" grocery shopper, I prevented our family from running into the red during the months when our budget was just about stretched to its limits. Happy saving!


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Jake DeSantis "Let Down" By AIG | Amazing! (Pt. 2)

I have a family; no time to defraud you anymore

Jake DeSantis thinks he’s headed for calm waters after jumping the AIG ship, eh? CLICK HERE if you missed the beginning of this teeth-grinding, blood-curdling story.

Credit default swaps are the root of AIG’s problems. DeSantis claims he had nothing to do with them, and that he feels “let down” that he is under scrutiny. Incidentally, your privacy would be respected if you were applying for a payday loan

I take this action after 11 years of dedicated, honorable service to A.I.G. I can no longer effectively perform my duties in this dysfunctional environment, nor am I being paid to do so. Like you, I was asked to work for an annual salary of $1, and I agreed out of a sense of duty to the company and to the public officials who have come to its aid. Having now been let down by both, I can no longer justify spending 10, 12, 14 hours a day away from my family for the benefit of those who have let me down.

An annual salary of $1, hmmm? Fine. It’s the right thing to do. Anyone can see that; you don’t deserve praise for doing what is basic. You aren’t two years old. But how much money had you been earning up to the point public officials stepped in, Mr. DeSantis? How much money do you have put away? More than most people will earn in their lifetime? And at what point would your regular salary kick in again? Would you be under the “yoke” of a $1 salary for… one year? Two? I bleed for you and your $742,006.40 bonus. ... click here to read the rest of the article titled "Jake DeSantis "Let Down" By AIG | Amazing! (Pt. 2)"

How a man can wreak havoc on the family budget

Or should I have titled this: A blog for the men (only)

Barcelona - The covered marketNote to the Editor: I will shortly need a major Online Cash Advance. Can you please pass the word down the line? With that said I now apologize to all the men. I am the guy who bats out these articles – "How to save in the supermarket", "How to cut your spending", "How to balance your unbalanced budget". Stuff like that. I do it carefully and thoughtfully and I never suggest anything that I wouldn't do myself.

I have to apologize to all men

Gentlemen, this morning I had a total breakdown. I spent money, I wrecked the budget, I sabotaged the family spending and I ran us into debt that will take a loan to cure. And it all happened so smoothly…

I sat down to write at about 10, decided on an article, wrote it, checked it and sent it off. At 11:30 I went to the kitchen to get a cup of coffee. My wife said she was going to the supermarket, would I like to come. This is one of the hazards of working at home. You sit alone all day, no one to talk to and no interruptions. When a chance of a break comes along, no matter what it is, you grab it, just to change the scenery.

How to waste money with no sign of strain

Once inside, and this is where the problem started, my wife went off to the meat counter and I was left to my own devices. I ducked down an aisle and that's when I saw the selection of olives. They are in open buckets so I tasted a Spanish, an Italian and then a Greek. I liked the Spanish best so I bought a small container. Olives are healthy food. They also go well with a martini mix. I also bought a container of olives stuffed with peppers. Then I weakened and took a container of the Italian and the Greek. They are pickled and they will last a long time. ... click here to read the rest of the article titled "How a man can wreak havoc on the family budget"

Is Buying Toxic Assets The Answer?

President Obama unveiled the Public Private Investment Plan yesterday. Under this plan, the federal government will take over the toxic assets of U.S. banks. Money coach Alvin Hall discusses the mechanics of the Public Private Investment Plan, and how it will affect consumers.

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Tuesday, March 24, 2009

Knauf Drywall Dangerous to Your Health

Sulfur, other substances corroding metals

Let’s face it. If you’re fortunate enough to have purchased a new home or recently remodeled, life is good. It’s exciting to live in a fresh residence, filled with potential and the space for all-new dreams. Bigger mortgage payments may create the need for personal loans at times, but the joy of having a new home doesn’t fade. However, it would be a shame if toxic gases ruined your fun.

But that may be exactly what Knauf Drywall’s products are doing to new (and not so new) homeowners. Elisabeth Leamy and Susan Rucci report for ABC News (shocker; mainstream news late to the party!) that the Consumer Product Safety Commission is investigating whether drywall made in China may be emitting toxic gases.

Welcome to your new gas trap!

The building boom in the years before the American housing bubble burst brought naturally upped the demand for materials, but cataclysmic events like Hurricanes Katrina and Wilma created shortages. As a cheap alternative, some builders began buying up Chinese drywall. ... click here to read the rest of the article titled "Knauf Drywall Dangerous to Your Health"

If it sounds too good to be true, then it probably is

Watch out if he looks like a legitimate businessman

Don't Be Fooled!

Don't Be Fooled!

Rip-off artists relieve us of millions of dollars a year. They are smooth, clever and very accomplished at what they do.

Have you been taken by a scam artist?

We've all been taken and perhaps some of us don't even realize what happened. It was a new car battery or generator when we didn't need one, a charity collector who collected money for himself or a health freak who sold us expensive vitamins that we didn't need. We are surrounded by con artists who hover around like moths around a light bulb. No one is immune. The odds of becoming a scam victim are greater than the chance of being mugged.

It would take a major book to expose the many tricks and hoaxes con artists have used and it's important to learn to recognize some of the more common warning signs of scams.

Online Payday Loans are completely legitimate and work in your favor and to your advantage every time. Here are a few simple rules that everyone should know about the real scams.

There is no pot of gold at the end of the rainbow!

  • No one gives away something for nothing,
  • There is no quick way to riches unless you inherit it.
  • Anyone who dangles a diamond-studded chain in front of your eyes is certainly a con.

Don't be greedy – it destroys your normal thinking process; be cautious and skeptical. Watch out for the sales pitch that distorts the truth and don't be shy to ask a million questions – it's your money on the line. ... click here to read the rest of the article titled "If it sounds too good to be true, then it probably is"

Monday, March 23, 2009

Shopping In A Recession

People are buying less and it appears consumer behavior may be changing. Is being frugal here to stay? Paco Underhill, founder and CEO of a behavioral market research and consulting company, talks about recession-era shopping.

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Curt Schilling Retires | Baseball Loses Free Thinker (Pt. 1)

For the love of the game

For sports fans, there is a currency of trust and admiration that we place in our favorite players. For the span of two to three hours, we make personal loans of our time and money in order to watch them perform. In return, they give us enjoyment and fire our imaginations.

When the end of the line comes for a sports hero, it is a somber moment for true fans. For myself and millions of baseball fans worldwide, I say goodbye to Curt Schilling.

A warrior-pundit

Ken Davidoff of Newsday writes that Schilling, like Barry Bonds before him, has “helped destroy the athletes as role models paradigm.” In the case of Schilling, however, he has knocked down false idols because it is in the best interests of the game of baseball. He always did this with a free, uncensored tongue, particularly when it came to the steroid controversy in Major League Baseball. Check out his blog 38pitches for this and more.

But I take issue with Davidoff over a number of points he attempts to make about Schilling. I acknowledge that I am a fan of Schilling, but the New York-based pundit Davidoff clearly shows his New York bias. What he calls Schilling behaving “like such a horse’s you-know-what,” I call him being outspoken about what he believes in. Some residual resentment from Schilling and his “bloody sock” performance against your beloved New York Yankees in 2004? Schilling helped “reverse the curse” of the Bambino for the Boston Red Sox and has always been a student of the game. Davidoff at least will acknowledge that. ... click here to read the rest of the article titled "Curt Schilling Retires | Baseball Loses Free Thinker (Pt. 1)"

Ann Arbor News Sinks Into the Newspaper Tar Pits

Ann Arbor News to close, replaced by AnnArbor.com

Jeff Jarvis of BuzzMachine reports that yet another newspaper is ready to bite the wax tadpole and go the way of New Coke. I used to work in the industry; now I write about payday loans, but I still feel for them.

The Ann Arbor News has announced that it will close in July and will be replaced by a completely new company, AnnArbor.com.

Jarvis can well be considered an insider in this, as he admits that he has been advising the changeover project and used to work for the parent company. From the publisher's letter:

The Ann Arbor News… will publish (its) last edition in July, when a new company called AnnArbor.com LLC will begin sharing local news and information with the community.

In July, AnnArbor.com will be born as an incredible community resource online, in print and around town. Like Ann Arbor, it will be a special place for everyone in the community to learn about, participate in and share everything that's going on in our area. ... click here to read the rest of the article titled "Ann Arbor News Sinks Into the Newspaper Tar Pits"

Find Your Bucks Legitimately with MissingMoney.com

Money is out there

Let’s face it. You need money. So do I. I’ve used payday loans at times. We all need money, particularly during these difficult economic times. Business Pundit reports that there’s a new way to find out if the government has money stashed away for you. Straight from the National Association of Unclaimed Property Administrators has unveiled MissingMoney.com, a Web site that enable s allowing people to claim funds entitled to them that have been floating around in the system unclaimed.

Here’s how it works, according to Business Pundit: State governments are holding on to nearly $33 billion in unclaimed checks, refunds, and other property. MissingMoney.com is ready to act as your guide into that shadowy world. You can find out whether your state’s government has cold, hard cash just sitting around with your name on it - or any of your relatives’ names. Anna Prior of the Wall Street Journal elaborates: ... click here to read the rest of the article titled "Find Your Bucks Legitimately with MissingMoney.com"

What Does Fiscal Stimulus Mean?

This is a guest post from Manshu, author of OneMint.com who started writing articles when he was majoring in finance.

With the economy reeling under a recession, the word that you read quite frequently is stimulus. But what is it? First, let's explore a few terminologies: recession, GDP, consumption among others.

A recession is characterized by the contraction of a country's Gross Domestic Product (GDP). The GDP sums up the total economic activity that happens within a country and is the sum of the following things:

GDP = Consumption + Government Spending + Investments + Net Exports (Exports – Imports)

Consumption refers to the money spent by private households and businesses on the things that they consume. As you can well imagine, consumption shrinks considerably during recessionary times.

Why you may ask? The number of times you go to a restaurant reduces and so does the number to the grocery store visits. As a result, the income of the grocery store and restaurant goes down too. When that happens, they lay off their employees and those employees further reduce spending. Because of this, businesses are discouraged from expanding and going out on new ventures and the investments in the above equation goes down as well.

Economists call this the fall in Aggregate Demand.

In order to stem this fall, the government launches a spending program to boost the aggregate demand and stimulate spending and economic activity. This is known as a Fiscal Stimulus.
There are various ways in which a fiscal stimulus can be administered but there is no solution that can fit all situations.

The two main ways of providing fiscal stimulus are:

  1. Tax Cuts: By cutting taxes, the government allows people to keep more in their pockets and ultimately spend more. This increases Consumption in the above equation.
  2. Government Spending: Direct government spending in infrastructure, social welfare or other such things increases the Government Spending in the above equation and helps boost the GDP.

When there's talk about fiscal stimulus, you will sometimes hear people talk about the multiplier effect. What this basically means is for the effect (in dollar terms) of the economy with every dollar that the government spends. Hopefully, this is more than 1 (ie, the economy grows by $1.50 for every $1 that the government spends). There are currently debates on what the multiplier truly is right now and whether it even exists.

There's also debates on whether tax cuts or government spending programs are better for the economy and I think that this debate is largely unresolved as there is no clear indication that one is always better than the other. What do you think? Do you favor tax cuts or would you rather have the government put more programs in places that they deem of need?


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Sunday, March 22, 2009

Getting Started: Determining Eligibility | Loan Modification Part 1

Find out if you qualify

Loan Modification could help you avoid seeing this in your yard.

Loan Modification could help you avoid seeing this in your yard.

You might have recently read the news about the White House administration’s new Foreclosure Prevention Plan. The government has written new policies that make getting the terms of your mortgage changed easier than ever.

First, however, you must make sure you are eligible to take part in the program.

Loan Modification program

The federal Foreclosure Prevention Plan has two parts: Loan Modification and Refinancing. For this article, we will address only the Loan Modification part.

If you are struggling to make payments on your mortgage but haven’t actually missed any payments, check out Part 2 of this series, which will address the government’s Refinancing program.

Foreclosure danger

The Loan Modification portion of the program is geared specifically toward people who are facing danger of losing their homes. If you took out personal loans to pay for your home and you have missed three payments or more, you could be eligible.

Keep your house

If you have already been served a foreclosure notice, it might not be too late. You can still apply for the program. If you go through a qualified, legitimate loan modification company it will speed up the process. And if you pick the right company you won’t have to pay until your monthly mortgage payments have already been lowered. ... click here to read the rest of the article titled "Getting Started: Determining Eligibility | Loan Modification Part 1"

Reader Comment: A Lifetime of Doing the Right Thing

It’s been a while since I highlighted an individual reader comment, but I wanted to draw attention to some advice that Kenny left for Sara in Friday’s “ask the readers”. You’ll recall that 24-year-old Sara feels overwhelmed because although she’s making the “right” decisions, she doesn’t seem to be getting anywhere. Here is Kenny’s response, reproduced verbatim. (Well, I’ve done some formatting, but the text is completely Kenny’s.)

I have the BEST answer for you since I have been there, done that, and now at a different (but better place).

I have done everything you are saying in your bulleted list above.

I have done a bit less (you can say), but lived in a very ‘controlled’ (read it as non-impulsive) environment by using self-control and discipline since I wanted to make it big.

I DID.  I HAVE.  I WILL NEVER GIVE THAT UP EVEN WITH ALL OF THE MARKET TURMOIL.

Here is why:

  1. Have saved money every penny at a time, but yet enjoyed what I wanted and lived a good 20 years years from the days of my college.
  2. I maximized on using company events to save money.
  3. I traveled with company folks instead of using my car.
  4. I jumped jobs and got ‘overtime pay’ and volunteered for any jobs that would give me overtime.
  5. By doing overtime, I did not have time to spend.
  6. I saved in the highest yielding Money Market accounts.
  7. I got credit cards, used their money for 30-45 days, NEVER paid $1 in interest EVER, and paid off at end of month (still do the same).
  8. I used ALL promotions, free gifts, free money offers as I could, going out of my way to do it.
  9. I have opened and closed 25 credit cards in 10 years, and 8 bank accounts in 11 years.  Each of them offered free Digital Camera, Free iPod Shuffle, Free GPS, Free $25 or $50 or $100 or $125 etc.  You get the picture.
  10. Got 2 for 1 coupons.  Sold stuff on eBay (total sales approx $500-$600).
  11. Joined ‘recycling groups’ all over the US.
  12. Bought stuff online, after intensely doing comparison shopping (late nights).
  13. Always negotiated my way for every purchase that was more than $50.
  14. Did Dollar-Cost Averaging into 401(k) and non-tax-deferred accounts, and sold with some profits every 2-3 years.
  15. Took a financial hit in 2000-2002.  Taking another financial hit in 2008-2010. But, will be patient and wait it out.
  16. Sold house by myself in 2003 (FSBOwner) and saved $14500 and got $5000 more on the house than what the real-estate agent promised to list for.
  17. Using a car that I bought in 1992, and still using it.  Using a van that I bought in 1996 and still using it.  Bought a Lexus from Dealer auction (contacts) for cash in 2005.  And, work from home 1-2 days a week to save on mileage, clothes, etc
  18. Teaching kids to drink water from 1992 until now at restaurants.  It used to be sacrifice, and now its ‘cool’ to do so!!!!!!
  19. Will bring home food from restaurant to not do impulse buying (2 out of 5 times).  It is good to be served every so often.  BUT, will rarely go to restaurants where I do not have an online coupon or a deal.
  20. Will always have parties at home with people bringing appetizers and dessert, with us cooking the main meal at home.  No buying wonderfully decorated plates from grocery stores.
  21. Buy everything in bulk as much as possible…..Walgreens had Dr Pepper, Fanta, 7-Up bottles for $0.50 with a buy 1 get one free.  Loaded it up for 2 years by buying 30 bottles (2 liter).  Who gives 2 liter for 25c each.
  22. Just today I found General Mills Chex-Chocolate Cereal for $0.99 with a 50c coupon.  It is 14.5oz box, and therefore loaded up by buying 6 boxes.

It takes a LIFETIME of doing the right thing, but this is NOT WORK and should not be EXHAUSTING, since this is called ‘SAVINGS’ and you will eventually get a KICK out of it.

Bottom-line is ‘Not what I did’…..’Not I much I saved’……But, WHAT DID I KEEP IN MY BANK!!!!!!!!!!

I can say that even though my ways are aggressive, parallel Japanese/Chinese/Indian ways of saving-first, they all lead to one conclusion: Am I a Millionaire with my own efforts.

YES…..Multi-Millionaire coming from an environment where at age 21, I had $3000 in my bank account given to me by my Dad as a ’starting point’, and living in an apartment.

I am NOT a show-off (can’t be with a 17 year car that I drive), and I am NOT showing off here.  I am just sharing the fact, that:

Where there is a Will There is a Way.
If you Work Hard and Sacrifice, You Achieve
Don’t lets the Joneses stop you EVER
Do what is Right For YOU & YOUR Family

Good luck……No offense to anyone, since I am just doing what I think is right for me based on my experiences, background and culture.  This is just an open share, SINCE, you asked!

I’ve said it before and I’ll say it again: Get Rich Slowly readers rock. I love to hear your stories, and I love the way that each of you is willing to share what you’ve learned with others. I truly believe that the value of this site comes from the supportive community that has developed here. Keep on sharing!


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