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When Your Friends Become Social Sellers and Multi-Level Marketers

by Flexo

I can’t completely fault companies like Amway, Mary Kay, and Lia Sophia. They know that friendship results in two important qualities: trust and guilt. These two qualities are important to companies because they make the process of selling products much easier. I find it relatively easy to politely decline — and hang up on if ... Continue reading this article…

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Reader Question: Resolving a Dispute With a Brokerage

by Flexo

From time to time, Consumerism Commentary readers contact me with questions. I am not an investment professional or a financial planner, and I don’t offer advice related to investing other than my general thoughts on the topic. The questions I receive range from basic investing details like government-regulated limits for investment account types to how ... Continue reading this article…

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Prenuptial Agreements for Cohabitants

by Flexo

I’ve discussed whether couples should sign a prenuptial agreement before marraige recently. A good prenup can protect both individuals in the couple if a marriage were to result in irreconcilable differences. Signing a legal document of this type could be helpful if the couple owns substantial assets or if there is a wide disparity in ... Continue reading this article…

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TIAA Direct High-Yield Savings Account

by Flexo

Just when you thought the era of new online banks splashing into the market was over, TIAA-CREF is on the hunt for customers’ deposits. TIAA-CREF Trust Company, FSB was established in 1998, and the bank just began offering deposit accounts in the last month. The products, under the name TIAA Direct, are intended to compete ... Continue reading this article…

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The Dangers of Motivating Kids Through an Allowance

by Flexo

Parents who offer their young children an allowance or pocket money are helping to introduce the concept of money at an age when they are susceptible to ideas they will hold for the remainder of their lives. It’s a good idea to allow kids to gain exposure to to concept and application of income and ... Continue reading this article…

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How Do You Preserve Your Money?

by Flexo

Preservation of capital is an important aspect of any financial plan, but in today’s economy, this is impossible without taking on some risk. At one time, you could confidently place any money you might need within one year in a high-yield savings account and be relatively confident that your money could buy at least as ... Continue reading this article…

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Best 0% APR on Balance Transfers Credit Cards, May 2012

by Flexo

Credit card debt is never fun, and developing a plan to get yourself out of the debt can be exhausting. Credit cards commonly charge interest rates of 20 percent or more, and if you miss a few payments the default rate can be even worse. Fortunately, if your credit is still decent, there is a way ... Continue reading this article…

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Should the Government Ban Banks’ Payday Loans?

by Flexo

When we think of predatory lending practices, the first thought that often comes to mind is the payday loan industry, catering to people barely, if at all, living paycheck to paycheck. Payday loans service communities with an aversion or without a need for or trust of the mainstream financial industry. Offering short-term loans designed to ... Continue reading this article…