When the Market Falls, Don’t Panic!
With the recent volatility in the stock market so far this year, investors are seeing major swings in their retirement savings, both up and down. Even with the recent recoveries and interest rate cuts, our markets as a whole are down about 8% for the year, as most investor portfolios reflect. Because of the recent [...]
Peer to Peer Lending at Prosper.com, Is it Worth the Risk?
Prosper.com is a peer-to-peer (P2P) lending website, which allows individuals to either borrow money from other members of Prosper, or invest to those seeking loans. Yes, you did hear that correctly. It does not surprise us that there is yet another way for people to borrow money and more likely, fall deeper in debt. However, [...]
Where to Bank Online?
One of the main reasons we decided to start putting together a blog for people was because of the idea that you could make your money work harder for you, hence milking it. One of the best ways to do that obviously, is to put your money into a high interest bearing account so that [...]
How Do the Federal Interest Rate Cuts Affect My Student Loans
Yesterday we discussed whether the recent action by the Federal Reserve to cut interest rates represents an opportunity for homebuyers to save money by refinancing their homes. Today, we will discuss what the rate cuts mean to your student loans. Unfortunately, after doing some research, we have found that how banks determine the rate [...]
My Credit Card Interest Rate Raised for No Reason
Credit card companies are coming under fire lately, and in our opinion, deservedly so. Credit cards of all kinds are now taking advantage of the 10 pages of fine print you agree to when signing up for a new card, which gives them the rights to basically do whatever they wish to your interest rate. [...]
Wachovia’s “Way2Save” and Bank of America’s “Keep the Change” Saving Programs
The personal savings rate in the United States is around 1%, an embarrassing number for one of the richest countries in the world. Why aren’t we following the saving generations that came before us? We can think of a few reasons: ARM mortgages, easy access to credit, ipods, 5+ year car loans, and rising college [...]
Bush Administration’s Next Rescue Plan: Project Lifeline
As we all know by now, this country is in a rapidly increasing downward spiral in real estate, credit and mortgage lending. About a week after Bush released the economic stimulus plan, he and six large mortgage lenders unveiled a plan to come to the rescue of a majority of foreclosing families. The question [...]
