March Madness, Federal Reserve Style
It is March Madness–in terms of the Federal Reserve printing more money than ever before…
The Federal Reserve is going to infuse another $1.2 trillion dollars into our economy by purchasing government bonds and mortgage-related securities. This move is unprecedented, but starting to feel like everyday headlines. The idea is this money will help lower borrowing costs and in effect help consumers spend—what is ironic is this fix is in part what got us into this mess.
How will this massive infusion money help you as an everyday consumer?
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Weddings: Who Pays for What?
This is a guest post by Robbin Montero
Having your parents bear the entire expense of a wedding and reception is not a birthright.
Dowries no longer exist in our culture. Also long gone by the wayside is the old notion that the bride’s family is financially responsible for the entire cost of the wedding and reception. Having your parents bear the entire expense of a wedding and reception is not a birthright. Their contribution is a gift and, with the skyrocketing cost of weddings, is has become commonplace for both sets of parents and the bridal couple to share in this major expense.
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Save Money on Video Games
[UPDATE: Coming from MSN Money? Consider subscribing and get us daily in your email!]
As you read every day that you need to save money, very few places will tell you that its ok to indulge. Granted, we are guilty of this too…sometimes I feel like everything I say is a huge hammer coming down on indulgences left and right but sometimes we have to be realistic. Video games are a perfect example.
So how do we save money on video games?
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Recession Rhymes
Recession Rhymes
By: MYM
Humpty Dumpty
Hedge fund managers sat on a wall
The over leveraged risk takers had a great fall
All the taxpayer dollars and President’s men
Tried to put the wall street pieces together again
Old King Cole
Old Uncle Sam was a merry old soul and a merry old soul was he
He called for his checkbook in the middle of the night
and he called for AIG
Every hard working American believed the riddle, and a very fine riddle was he
Oh there’s none so rare, your tax dollars can’t compare
With Uncle Sam and his new best friend—AIG
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Stewart and Cramer Face to Face
Here is the face to face meeting between the two rivals. Check out the video, and see Cramer’s explanation to some possible indiscretions he had from his time as hedge fund manager and Stewart has some great questions. It’s no wonder why a growing demographic gets their news from The Daily Show…
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Why Is My Paycheck More?
Why is your paycheck more than usual? Because the economy stinks and the Democrats are in control! That was intended to be a joke, but it’s actually true. You may have noticed that your paycheck is slightly higher than it has been in the past, mine was $31 more. This is a result of the second stimulus bill passed by Congress. There is a section titled, “Making Work Pay Credit,” which essentially does what the first stimulus did, which is giving us some of our money back! The major difference is, this time around, the money is coming to us piecemeal through our paychecks by reducing our taxable federal income taxes.
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10 Things the IRS Won’t Tell You
Smart Money Magazine has provided us with a very interesting look into the back end of the Internal Revenue Service. A lot of people have a pretty negative view of the IRS and there are also those that maintain that the fact that we are taxed is unconstitutional. While this is a little far removed from the point of this article, its worth mentioning that the IRS is not out to get you but are simply following rules that are public knowledge. Granted, just because they are public knowledge doesn’t mean that they are simple or easy to follow. There is a slew of programs out there that abide by these rules and will hold your hand right through it. If you are ever unsure, do some research or ask a professional. As long as you learn something it will be worth it. Now to the long awaited list!
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Best Free Computer Software
Believe it or not, some things are free. Freeware, or software provided without a cost, is surprisingly plentiful. In fact, many of the high cost popular programs like Microsoft Word and Anti-Virus software packages have free alternatives that are worth checking out. Before you shell out your hard-earned money they next time you have a need for a new program, consider some of the following freebies:
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Stewart Tears Wall Street A New One
Truly a great video…a little dark but a must watch!
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Buffett Gives His Thoughts
In this series of videos, Warren Buffett talks to a group of MBA students and candidly answers their questions, much like he does at his Berkshire Hathaway shareholder meetings. There many of these and they provide an interesting insight into his mind and rationality for his actions. He makes some excellent points and his methods are deceptively simple. Now, The Oracle of Omaha:
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MYM Mailbag # 4
Do you have any questions you would like MYM to answer? leave a comment or send us an email.
Hi, I was looking over my school loans and had a quick question. I have a variable interest rate loan and the interest rate is 5.8%… I would really love to fix that loan to ensure the same monthly payments. Any idea how long the rate will stay this low and when/why it will go higher? Essentially, I would like to get another lender to fix this loan I have but would like to do so when I could get the best possible fixed rate. Thanks
- Brad
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The Coolest Stuff You Don’t Need
Among a few others, Uncrate was put together by Zombie Corp, and they have done a really nice job on each of their sites. There is a veritable smorgasbord if items that will put you in awe of the power of consumption as well as flex its ability to present things that you have never even heard of. From items that are simply unpurchasable by any mortal, to the lowly set of emergency cuff links. Actually, how about every cool pair of cuff links for that matter? Don’t get us wrong, we are not saying you should run out and blow your new found cash from Uncle Sam, but its fun to window shop…
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What Will I Receive in the New Stimulus Bill?
What’s in the 407 page stimulus bill that will actually affect the normal taxpaying citizen? Because of the enormity of the bill and the various sectors it reaches, whether you realize it or not, this bill will affect you in many ways. As for as actual provisions that put immediate money in your pockets, there isn’t a whole lot. However, there are a few sections of the bill you should know about like the tax credit that will make your paychecks bigger, retiree tax checks, and tax breaks for new automobile owners. Below are what we feel are a the most relevant sections of the new stimulus bill that matter to you.
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Review: The Cure for Money Madness
[UPDATE: An interview with the author can be found here.]
General overview:
Spencer Sherman is a financial advisor who underwent a transformation early in his career that amounted to somewhat of a revelation. This book is a product of that, intending to convey your own transformation in how you view money.
He refers to common fears and behavior around money as “Money Madness.” He goes through several steps in allowing the reader to analyze their own financial upbringing where he ultimately wants to reform the reader and have them eliminate debt, stop over spending, resolve disputes with significant others, and basically end the worrying that so many of us do about money.
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What is the First Time Home Buyers Tax Credit?
Congress has been blamed for pushing homeownership so much so that in part, they helped our subprime crisis evolve. After all, it’s easy for them to turn a regulatory eye when their constituents are happy and in nice homes. Having said that, in a desperate move to try to get people to buy homes again (this time to rejuvenate the crippled market) they have made law in the recently passed stimulus package an $8,000 tax credit for first time homeowners.
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