I don’t know much about sports betting, but I wouldn’t be surprised if there are some people — other than those affiliated with the team who will receive big bonuses — who are significantly richer thanks to the New York Giants winning the Superbowl. I’m not a big football fan, but I managed to catch the Giants’ first touchdown take the lead in the fourth quarter and everything that ensued afterwards. It was an exciting fourth quarter.
I’m just looking forward to the new episode of House.
While I’m waiting for the post-game show to end, here are some articles from around the web that I’ve enjoyed lately:
Free Money Finance asks how much it would take to give up health insurance. For me, this amount would be very high. That’s the purpose of insurance: to mitigate a risk. Throughout the rest of my life, I may need to spend hundreds of thousands of dollars on health care if I had to pay for all of it myself. Then again, I may not need more than $100,000. My buying insurance, I can ensure that most of the expense will be taken care of for a predictable fee.
Wise Bread is the newest addition to the Money Blog Network. Paul from Wise Bread noted that UK banks are blocking customers from using their credit cards. The bank in question is actually owned by the American bank Citi; they are controlling their risk of customer default by blocking access to issued credit cards. Should banks have this power? Citi obviously has its business reasons for doing so, but it can put customers who are relying on credit (for whatever reason) in a tough position.
Upset by falling interest rates on your bank accounts? Get Rich Slowly suggests using certificates of deposit (CDs) to achieve a better return. CDs are less liquid than savings accounts, and therefore serve a different financial purpose. In many cases, withdrawing your CD investment before it matures will result in a forfeiture of a portion of your interest, usually enough to reduce your return to less than it would have earned in a high-yield savings account. Additionally, CD rates are dropping as well; bank expect interest rates to be lower and have already priced CDs to take that into account. You do have the benefit of locking in your interest rate at the beginning of your investment, so if general interest rates fall further than expected, you could end up ahead.
Updated December 29, 2010 and originally published February 3, 2008.