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Saving

Silent Inflation Is Destroying Your Net Worth

by Luke Landes

According to the government’s figures, inflation was a modest 2.7 percent over the twelve months ending in March. The Consumer Price Index (CPI) is the Bureau of Labor Statistics’ popular measure of economic changes affecting typical consumers in the United States. It’s a figure we often compare to after-tax savings interest rates, reminding us that our […]

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The Saver’s Dilemma

by Luke Landes

At Consumerism Commentary, I’ve been writing about putting money into high-yield savings accounts for as long as this website has been around. Just as people started getting the message, banks pulled the rug out from under their customers. The Federal Reserve made cash easy and cheap from banks to access, and since the low federal […]

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Low Savings Interest Rates: Good or Bad?

by Luke Landes

No one’s happy with savings account interest rates these days. Even so-called high-yield savings accounts are closer to zero than they have been in a long time. For me, they heyday of savings accounts was when they were earning 5 percent to 6 percent APY several years ago. Some people remember when savings accounts earned interest rates […]

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Sell Your Unwanted Gift Cards at Plastic Jungle

by Luke Landes

Updated: Plastic Jungle is no longer in operation. Whether you’re giving or receiving gift cards, it’s usually a pretty positive experience. Both the giver and receiver are often satisfied because most gift cards allow the receiver to spend money in the way they want, as long as the giver has taken the receiver’s interests into […]

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Recent Changes in My Personal Finance Plan

by Luke Landes

It’s easy to fall into financial habits. Even people who consider themselves inflexible can grow accustomed to a financial change after time. That’s the beauty of automation — an automatic 10 percent transfer to a high-yield savings account every time you receive a paycheck eventually becomes painless. Habits aren’t always perfect; just as you adjust […]

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Curb Your Consumerism

by Kelly Whalen

This article is presented by Kelly Whalen, Consumerism Commentary staff writer. The temptation to spend money is everywhere, especially during the holidays. There is something magical about lights glowing, soft Christmas music playing everywhere, and the hustle and bustle of the holiday season that seems to make money fly right out of everyone’s wallet. Whether […]

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Ten Things to Do With $1,000 Right Now

by Luke Landes

Mention to your friend that you suddenly received an unexpected $1,000 and I would be willing to bet he could come up with several suggestions for you. Most of those suggestions will likely involve handing the money over to him. My first suggestion is to refrain from telling your friend when you have $1,000 more […]

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Is It Possible to Save Too Much Money?

by Luke Landes

For most humans, life is much shorter than we would like, and for many of us saving even ten percent of our income will never result in a state of wealth within our lifetime. There are too many forces working against this endeavor: a lack of sufficient opportunity, inflation, and unplanned events to name a […]

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What Percentage of Income Should Be Saved to Be Financially Responsible?

by Luke Landes

I’m pointing out a recent article featuring advice from Walter Updegrave, a senior editor of Money Magazine. Recently, he was asked to quantify the percentage of income that any individual should save in order for this particular action to be considered “financially responsible.” Normally, the advice I’ve seen suggests a rate somewhere between 10 percent and […]

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Eight Tips for Living Through a Recession

by Luke Landes

If you have been affected by the recession, perhaps by losing a source of income, you may not want to hear suggestions for turning a bad situation into an opportunity. In fact, the idea of turning challenges around for your own benefit is in line with the annoying soundbites that productivity gurus sell. But I […]

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