How The US Credit Downgrade Is Affecting Spending

Every person, business and entity has a credit rating. These ratings are a huge part of the economics of lending, borrowing and interest rates. When the United States saw a reduction in their current credit rating, it created ripples throughout the US all the way down the average household and the average consumer. Whether you plan to tuck money away in savings accounts, IRAs or even fixed rate bonds you may be having second thoughts and for good reason. The way people are spending is complet...
More

How To Find The Best High Yield Savings

Everyone recognizes the importance of regular saving, even if an increasing number of people are finding it difficult to set aside money in the current climate. If you can manage to save, even a modest amount, a high yield savings account makes a lot of sense. Using a standard savings account will earn you very little, and at a time of high inflation could actually represent an overall loss. So how do you go about identifying the best savings interest rates? Probably the first place to start ...
More

Doing What You Want To: How to Stop Spending On Stuff You Don’t Even Use

People work hard because they want to earn the right to live the life they want, even if it means spending on things that are useless to them. A person, who may have no control over some areas of his life, may find it extremely satisfying to at least have control over the money he has earned. To have the power to acquire things that normally poses a challenge can be quite addicting, especially when emotions are involved. People, after all, are insatiable beings; it is only right to reap what the...
More

3 Bad Spending Habits and Ways to Break Them

It probably took a recession for many Americans to realize how out of hand their spending had become. It was actually a little shocking to find out how so many people were in serious credit card debt, with seemingly no way out. If there was any good that the recession brought us, then it is to take a closer look at our spending habits. We’ve rounded up some pretty common and bad spending habits that almost everyone is guilty with, and not only that, we give suggestions on how to curb them. Read ...
More

15 Things People Forget To Budget For

The economy today is putting a strain on numerous bank accounts. It is essential to have a complete budget that covers all everyday expenditures and still leaves room for savings. Many people forget to include some crucial expenses which can sabotage an otherwise thoughtful budget. Here are fifteen things that people often forget to budget for. 1. Dues and fees - Various types of fees are due throughout the year and they are often overlooked. This includes annual credit card fees, gym members...
More

5 Disadvantages of Using a Debit Card

It seems everyone uses their debit card for every purchase these days. They cite the ease with which they make transactions. There is no need to carry cash and the worries that accompany holding a bunch of cash are erased. It really seems like this phenomena has occurred in just the past two years. Pretty much every store you go to will accept debit card regardless of your purchase size. However, it’s not all great news when it comes to using your debit card. Here are five disadvantages to...
More

Top 10 Reasons People Spend More Than They Earn

Rule #1 of financial freedom is spending less than you earn. If you can't do that, you'll never be financially successful no matter how hard you work, how many hours you put in, how many promotions you receive, or how much money you make. It's a simple rule, and most would consider it common sense. But, the U.S. has a negative savings rate, meaning this common sense rule may not be so common place. I recently saw a statistic that claimed that about 43% of American families spend more than ...
More

Spending Money: Needs vs. Wants

Let’s face it: Most people spend way too much money on things they don’t really need. The more money we make, the more we tend to spend. This endless cycle of materialism has led many people to confuse the word “need” with the word “want.” As in, “we need a big-screen TV for our new home theater.” Or, “I need a new pair of shoes to go with my new outfit.” (more…)
More

How gas prices affect your wallet and your behavior

The price of gas has doubled over the past three years, hovering around $3 a gallon nationally. Research was recently conducted to determine how increased gas prices have affected personal finance, as well as behavior at work. More than 300 employees across a wide range of occupations were surveyed in the study. Findings from the study indicated that most people have had to make drastic changes in the way they spend money. For example: (more…)
More