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Learning to curve impulse and save more

“From a young age, we have the responsibility of conditioning our brains what not to filter. We’ve been assigned the impossible task of reminding our brains, “Hey, stop… I want to notice, observe, or think about this.””

This is what managing personal finances is all about. Most of us were never thought money management skills while we were kids and now we have to program our (Free spending) brain to control our desires. When you we see something we want we should stop and question ourself about the need and the if we can afford it. If we could do this simple task we would not buy half the things we buy now. In his post Baker question himself about the product he already have at home and it’s comparison to the one he wants. How many times have you seen a new updated version of something you have and wanted to buy it. A cell phone is a good example of something that gets upgraded often. How many times have you looked at the newer models of phones and really gave some thought to buying one when the one we have is perfectly fine? If you could stop and ask yourself “why do I need this and can I really afford it?” how fast would you stop your impulse in its tracks. Read more

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The 2010 United States Penny, Redesigned

I’m not entirely sure why the US Mint would want to redesign the Penny. And who would have ever thought there was a Citizen’s Coinage Advisory Committee? Either way, this is the 2010 US Penny.

At a quick glance, not much has changed on the front (heads). Lincoln is still featured as the prominent face of 2010 Penny;  however, it’s the reverse side (tails) which had the major overhaul. It seems as though the “Citizens” weren’t to fond of the ol’ Abe’s memorial.

Check out the description and meaning behind the 2010 Penny after the break. Read more

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The First Step To Learning Personal Financial Management

I communicate with a lot of people on a daily basis. Mostly on the Internet through emails, one of the many social networks and replying to comments on my site. My conversations revolves around personal finance since my name has become synonymous with the subject. While I do get a few people with some very unique questions, I mostly get asked the same question over and over in different forms. The all important “where do I start?” question.

Well, there is a simple answer and a long complicated answer, but for the sake of this article I will give you the simple answer. Read more

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Careers In Finance

Graduating college is a great time for many young adults. It marks the end of your academic career and the beginning of your working career. Finding the right job that will set the pace for your career should be the next steps in your plans. If a career in finance is what your seek there are many different areas you can consider before choosing the one that is right for you. There are many different types of financial positions you can build a career in. Read more

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How To Get Started On Your Journey To Financial Freedom

When it comes to finances, most people do not have a clue how to get started. With all the information available to everyone on the Internet, learning to manage your money should be easy. Yet people do not put forth the effort to learn, even the basics of personal financial management. A basic understanding of how credit cards effect your overall credit could change the way you use your cards. Taking the time to learn about retirement planning could alter your spending and saving patterns for forever. Getting as much information on proper money management should be at the top of everyone’s list, but sadly it is replaced by Twitter and Facebook. Read more

{ Financial }

Bank Of America Being Subpoenaed Over Merrill Lynch Bonuses

On Friday, Kenneth Lewis, CEO of Bank of America, testified in front of the Attorney General in lieu of the $3.6 billion in bonuses that were paid to Merrill Lynch right before Bank of America acquired the company. Apparently Andrew Cuomo, the Attorney General, didn’t get any information he was looking for because right after the testimony his office served a subpeona to the bank to provide a list of all the bonuses that was paid prior to the acquisition. It’s so obvious that the bonuses were paid to the big-shots at Merrill Lynch because they knew they were receiving free money from the Government under whats called the U.S. Treasury’s Troubled Assets Relief Program, or, TARP program.

“The attorney general is severely disappointed in Bank of America’s decision,” said the Benjamin Lawsky, assistant to Cuomo. Disappointed? These guys should be thrown in jail with the cop that beat the 15-year-old girl. Maybe that police man can knock some fucking sense in to these exec’s.

Read more

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Chase Credit Cards: Interest Rate Hike? Letter of Doom.

On Tuesday, I received a call from my boyfriend that I had a letter from Chase credit cards. After he opened it he told me that Chase was increasing my interest rate on my credit card from 9.99% to prime-rate plus 9.99%. Holyfuckonastick.

What gives? What did I do? Did I miss a payment or something? I didn’t know, so last night I read the letter when I got home and low and behold there it was:

Chase:
We are sending you this notice to let you know that we will be making some changes to your credit card account in response to market conditions and to maintain profitability on your account. These changes will be effective with your MARCH 2009 statement.

Here’s a summary of the key changes:

• The standard Annual Percentage Rate (APR) for purchases and balance transfers will change to: the Prime Rate plus 9.99%, which as of December 15, 2008 would be 13.99%.
• [...]

Market changes and maintaining profitability on my account? Am I missing something here? I pay $60+ in interest a month, how the fuck are they not maintaining profitability off that? I understand the market changes, but wouldn’t you think in a spiralling-doom-and-gloom-bleeding-to-death-over-bank-corporate-jets-economy we’re in, Chase wouldn’t even think of jacking up credit card interest rates? Think again. Read more