Options for Unemployed Graduates with Student Loan Debt
The rising unemployment in the U.S. is a grim reminder that those of us with jobs should stop complaining and start being thankful. Unfortunately, one of the real classes of people who are being undeservedly punished by our economic struggles are college graduates. With unemployment climbing, college grads are finding themselves trying to beat out [...]
2008 Top Financial Web Sites
Kiplinger recently released their top picks for 2008 best investing and financial services web sites. Coincidentally, they picked their own site for the best tax calculator. Take a look at the following sites, the financial fundamentals everyone should know is spread amongst them all!
Bonds: Investinginbonds.com. A one-stop shop, this free site provides historical [...]
Really? Treasury Hires Thacher & Bartlett for Legal Advice for Rescue Package?
Who cares who the Treasury Department hires for advice when it comes to implementing the over $700 billion rescue plan? I know it, the headline is boring, but keep reading. I decided to look into Thacher & Bartlett to understand why the Treasury Department would use taxpayer money to get guidance—I mean is there not [...]
Alternative Home Equity Loans—Unregulated, Costly, and Dangerous
Credit seems to be easing a little, which means maybe the Government’s move to purchase shares of banks is working. I don’t think credit will ever be as assessable as it was just a couple years ago, which has meant opportunities for those with extra cash. Not only can you invest directly in people through [...]
What Is Actually Included In the Bailout Legislation?
MYM Series: Wall Street Bailout Explanation 3 of 4
As you have probably heard, the U.S. Senate passed an amended version of the bailout package late on Wednesday, October 2. Mainly, changes were made to the bill in order to garner enough Republican votes in the House, where a similar package was shot down earlier [...]
MYM Series: Wall Street Bailout Explanation 2 of 4
Understanding the Crisis: Timeline of Failure & Who’s at Fault?
How did we ever get to the point of needing $700 billion dollars from the Federal Government? Were the regulators asleep at the switch or were they simply out smarted by the markets? Did greed win over principles on Wall Street? These are great questions [...]
MYM Series: Wall Street Bailout Explanation 1 of 4
You’ve heard the news; Wall Street’s biggest financial institutions are in need of a major financial Government backed bailout in order to stay afloat. What does this actually mean? How will it affect me? Why should the taxpayers pay for the Wall Streets errors? What are the pros and cons of such a bailout?
My day [...]
When Is Too Much, Too Much?
We are in the process of looking into buying a house. We found one and have been going over the numbers over and over and determining that our budget would stretch really tight. It would be doable, but our safety net would have to be used for a down payment and we would need to [...]
USAA to Expand Eligibilty Requirements
USAA has announced that they are expanding their eligibility requirements. If you meet the following criteria, this might be a great opportunity to get some nice insurance benefits.
While a bit of an exclusive club, it is with good reason. The customer service is top notch and the rates are extremely competitive. They currently allow only [...]
Pic.TV’s Preview of An Inconvenient Debt
While our attention is currently abroad in Beijing, watching our fellow citizens win medals left and right (take that France!) we are also keeping an eye on that state of affairs here at home. There is another race coming up soon but won’t commence until long after the Olympics are over: the Presidential Race. This [...]
MYM Mailbag #2
Thanks to everyone that has sent questions to us! If you don’t see your question below, don’t worry, we’ll answer it in the next round. Got a question? Don’t hesitate to ask or leave one in the comments section.
How much money do you guys have in an emergency fund or what is your target amount? [...]
MilkYourMoney.com Comments On Proposed Credit Card Rules
Federal banking regulators (Board of Governors of the Federal Reserve System, the Office of Thrift Supervision, and the National Credit Union Administration) recently proposed rules that would curb abusive credit card practices that we have long been against. For a detailed summary of all of the proposed rules, click here. Today, August 4, 2008, was [...]
Mortgage Buster: Scam or Savior?
We were recently approached with an interesting question regarding making interest payments. While there are many different ways of manipulating money, the absolute hardest way is to manipulate it to the advantage of the average consumer or homeowner. The house is stacked against us and we are given the pesky task of paying interest on [...]
Your Guide to House Hunting
Both Freddie Mac and Fannie Mae have gotten quite a bit of media attention on their recent bailout, a la Bear Stearns. While the consequences for this hasn’t been felt yet (and I am pretty sure that we as tax payers are going to be integral in footing the bill) the ramifications of them going [...]
Borrow From Your 401(k) Account with a Debit Card No More?
We can’t stress enough how important it is for everyone to participate in their companies 401(k) retirement program, especially if there is a match involved. Sadly, people are starting to tap their 401(k) accounts early and easily by using a debit card linked to their retirement funds.
Debit card 401(k) withdrawals were actually created thinking people [...]
