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avatar You are viewing an archive of articles by Luke Landes. Luke Landes is the founder of Consumerism Commentary. He has been blogging and writing for the internet since 1995 and has been building online communities since 1991. Find out more about Luke Landes and follow him on Twitter. View 's Google Profile.

Luke Landes

2008 Charitable Giving: Did You Contribute Less?

by Luke Landes

As I’ve mentioned before, one of my long-term goals is to run a foundation to support arts education, specifically music education. To do this effectively, I would require a significant amount of start-up capital, and I’m not quite there yet. I’m not quite sure that I will ever have the opportunity to succeed, but if ... Continue reading this article…

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FNBO Direct Drops Interest Rate to 2.8% APY

by Luke Landes

FNBO Direct, the online bank that was recently rated best online savings account by Kiplinger, and one of my picks for best online savings accounts, significantly dropped the account’s interest rate today from 3.25 percent to 2.8 percent APY, a 20 percent decrease. I don’t normally chase the highest rates and move my money back and forth based ... Continue reading this article…

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Is Your Special Investment a Ponzi Scheme?

by Luke Landes

Here is how a Ponzi scheme works. The individual running the scheme promises abnormally high returns over a short period of time to the initial investors. These investors provide the start-up capital, and the schemer will do whatever he likes with that money, either invest it, spend it, or let it sit in a bank. ... Continue reading this article…

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Visa’s Take on Debit Cards

by Luke Landes

A representative from Visa offered to answer a few questions for Consumerism Commentary readers about debit cards. I’ve written previously about five reasons to avoid debit cards, preferring credit cards for plastic payment. Here are three questions I asked Visa and the company’s responses. I have three more questions to post in the future as ... Continue reading this article…

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Government Extends Loans to Detroit Automakers

by Luke Landes

This is today’s big news, and you’ve probbably heard about it already. This morning, President Bush approved three-year loan to GM and Chrysler which would give these companies $13.4 billion now and $4 billion in February. There are strings attached. Although the loans have terms of three years, the government will require the companies to ... Continue reading this article…

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9 Tips for Choosing and Achieving a Purpose in Life

by Luke Landes

Recently, I mentioned that setting goals is an important part of taking control of your personal finances, focusing on the idea that the best approach is to determine your major, non-financial life goals first. This is a difficult process for many people, and many people go through life without determining a direction. There’s nothing wrong ... Continue reading this article…

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Getting Paid Back for a College Education: 15 Top Schools

by Luke Landes

If the only value of higher education is the money you earn throughout your lifetime with your college degree, then SmartMoney’s recent study might help you decide where to matriculate. Ivy League schools don’t pay off as much as one might expect. The magazine surveyed the annual salaries earned by graduates of 50 of the ... Continue reading this article…

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ING Direct Electric Orange Interest Rate Drops to 0.5% APY!

by Luke Landes

For those who have enjoyed high-yield savings and checking accounts, get ready for a difficult time keeping up with inflation. ING Direct announced just minutes ago that the bank is dropping the interest rate on the first $50,000 per person deposited in their Electric Orange checking account to 0.5 percent APY. The interest rate is based ... Continue reading this article…

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The Federal Reserve Cut is Irrelevant

by Luke Landes

The Federal Reserve is expected to drop the federal funds rate to 0.5 percent today, the lowest it has ever been. When the Fed drops rates, its intent is to increase lending between banks. This drop, however, will likely have no effect on the bank’s lending practices. This rate is just a target, and it doesn’t ... Continue reading this article…

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I am Debt Free as of Today!

by Luke Landes

For several years, interest rates on high-yield savings accounts were high enough to justify choosing to leave extra money in savings accounts rather than using that money to pay off certain debts faster. I was paying only the minimum payment on my consolidated student loan. The loan’s interest rate was 4.25 percent and I had been ... Continue reading this article…

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