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Money Basics: Savings Accounts

by Flexo

April is National Financial Literacy Month in the United States. In most cases, schools do not extensively teach financial skills. Teenagers, highly susceptible to messages from the media, often do not have guidance from teachers, who are not trained to teach financial skills, or from parents, many of whom do not model healthy financial behavior. ... Continue reading this article…

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Money Basics: Checking Accounts

by Flexo

April is National Financial Literacy Month in the United States. In most cases, schools do not extensively teach financial skills. Teenagers, highly susceptible to messages from the media, often do not have guidance from teachers, who are not trained to teach financial skills, or from parents, many of whom do not model healthy financial behavior. ... Continue reading this article…

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Why Be Wealthy? Focus on Real Goals, Not Net Worth

by Flexo

Even though I share my financial reports every month, I don’t see increasing my financial wealth as a goal. The accumulation of money is not a destination. I am not aiming for any particular measure of financial worth, such as ten million dollars of net worth or one million dollars of passive income each year. ... Continue reading this article…

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The Recession Finally Hits My House

by Smithee

I work for a small Interactive Agency of twenty-four people. This is a company that managed to survive the dot-com bust and, like any company, has good times and bad times. Our president always makes every effort to keep great people, even if it means cutting her own salary. I consider myself lucky to have ... Continue reading this article…

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Are You a High-Yield Interest Rate Chaser?

by Flexo

Over the last decade, on-line savings accounts have grown into prominence, first with new internet-only banks offering high-yield accounts thanks to their low overhead costs, and followed by old-fashioned brick-and-mortar banks offering on-line accounts to give the newcomers competition. For more than one year, I’ve been tracking and charting interest rate changes for a number ... Continue reading this article…

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Personal Balance Sheet, Net Worth, Income, and Expenses, March 2009

by Flexo

If you have been following Consumerism Commentary, you might be aware that I publish a monthly report of my financial well-being, and I have been doing so since 2003. Here is my latest balance sheet, whose bottom line represents my “modified net worth.” That number has increased in March by 12 percent. Rather than provide all ... Continue reading this article…

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Most Popular on Consumerism Commentary, March 2009

by Flexo

First, if you haven’t yet this week, check out the latest Carnival of Personal Finance, hosted by Wide Open Wallet. There are some excellent articles this week including the host’s “Editor’s Picks,” Why Lending Club Isn’t for Most People, and Is Buying a Repossession Capitalizing on Someone Else’s Misfortune? Now to the monthly administrative businesses. ... Continue reading this article…

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Chase Credit Card Customers Receiving $4.4 Million Refund

by Flexo

Earlier this year, JP Morgan Chase surprised customers with a new fee and an increased minimum required monthly payment. For cardholders who carried large balances month to month, Chase began charging a $10 monthly fee and increasing the minimum payment from 2 percent to 5 percent of the balance. The change was announced last November for about ... Continue reading this article…

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