MD talks with Tom about topics such as his inspiration for Studenomics, how he got through college without having to pay off student loans, and also about things that people in their early twenties need to consider if they’re thinking about buying a home.
Consumerism Commentary Podcast
Buying a House In Your Early 20s: S06E16 / 173
[00:00] Introduction from Tom Dziubek [00:36] Interview with MD
– [00:53] MD’s inspiration for Studenomics
– [02:22] The focus of Studenomics
– [03:14] MD’s college years
– [03:53] Starting off at a community college
– [06:00] The start of the blog
– [08:31] Paying for college
– [13:32] Buying a home in your early 20s: Income considerations
– [15:26] Considering your savings
– [16:37] Taking into account your relationship status
– [18:42] The need to be somewhat handy
– [20:51] MD’s current projects [23:53] End
We always welcome feedback from listeners. If you have any comments for this episode or for any other, or if you have suggestions for future episodes, please leave us comments here or email us at podcast at this domain name.
Jenny talks with Tom about how married women can better prepare themselves financially for a divorce. Some of the items she discusses are keeping individual checking accounts, knowing where the money is and being prepared to start a new job.
Consumerism Commentary Podcast
Protecting Individual Finances in a Marriage: S06E15 / 172
[00:00] Introduction from Tom Dziubek [00:38] Interview with Jenny Kerr
– [00:49] Jenny’s inspiration for article
– [03:15] Individual bank accounts
– [05:34] The need for a joint account
– [06:13] Funding the individual account
– [07:33] The individual account for emergency access
– [08:57] Know where the money is
– [10:27] Keeping your resume current
– [12:06] Part-time work
– [14:21] Understanding the necessities
– [15:24] Knowing what benefits are tied to your spouse
– [16:40] Identifying policies your spouse could benefit from [19:13] End
We always welcome feedback from listeners. If you have any comments for this episode or for any other, or if you have suggestions for future episodes, please leave us comments here or email us at podcast at this domain name.
Cash back credit cards can help consumers practice responsible spending while earning a little extra for their efforts when used properly. It wasn’t long ago that the best cash back credit cards were offering rewards as high as 5% for all purchases, but that is unfortunately no longer the case.
Today’s cash back credit cards are all similar in nature, generally offering 1% cash back on all purchases. However, if you look hard enough, you’ll find a number of credit cards with higher cash rebates than just 1%. This article lists the best cash back credit cards you can find today, and I update the article when there is new information to share. Along with a brief description of each of these best cards, I have included the cash back percentages and any tiers or restrictions, so there are no surprises if your cash back credit card isn’t earning as much as you first thought. Keep in mind that in order to make credit card with rewards program worthwhile, you must avoid interest charges and late fees by paying your bill on time and in full every single month.
Editor’s choice
Chase Freedom® Visa – $200 Bonus Cash Back. The Chase Freedom Visa – $200 Bonus Cash Back offers a standard 1% cash back on all purchases, as well as the opportunity to earn 5% cash back on select purchases throughout the year, subject to a maximum. Every three months, the categories in which you can earn 5% cash back change, so for example January through March could be gas stations and Amazon.com, April through June might be grocery stores and movie theaters, July through September could be gas stations and restaurants while October through December could be hotels, airlines, Best Buy and Kohl’s. In order to qualify for the 5% cash back, you must have an account in good standing and follow the terms and conditions set forth by Chase. Categories will be announced to cardholders before they happen, so look out for updates from Chase.
The Chase Freedom® Visa – $200 Bonus Cash Back also offers up to an additional 10% cash back (up to 11% total cash back) on purchases made at select merchants when you shop online through the Chase website. The card also carries no annual fee. To qualify for the $200 cash back, you must spend only $500 during the first three months, making it the easy choice for best cash back credit card.
While the mainstream financial industry has faced a dizzying array of government and quasi-government regulations through most of the last one hundred years, non-bank financial products have, for the most part, evaded regulations. Catering to lower-income communities, payday loan storefronts and check cashing establishments have managed to justify their business models. The more desperate you are to pay your electricity bills and your rent before your power is turned off and you’re evicted, the more likely you are to willfully ignore the fact that the companies helping you are taking advantage of you in ways that a traditional bank would never be allowed to do.
The Consumer Financial Protection Bureau (CFPB) is now charged with recommending new regulations that go beyond retail banks, thrifts, investment banks, and credit unions into the murky world of non-bank financial products.
If you compare a short-term payday loan with a loan from a bank, you might see that the payday loan’s equivalent interest rate (APR) is 450% or even higher. Mortgages tend to be 3% to 7%, business and personal loans could be 5% to 10%, and credit cards are 10% to 20% unless you default. Anything higher, and the loan might be considered usurious. So how do payday lenders get away with charging 450% or more?
Well, these lenders frame what they charge as a flat or sliding fee, not interest. The loans are typically due in two weeks, the expected arrival of your next paycheck. It might not be fair to compare these fees with interest rates, because the borrower doesn’t hold onto the loan for a long time.
Or does he? There’s some evidence suggesting payday loans create a cycle; rather than paying off the loan when the next paycheck arrives, lenders offer an enticing deal to encourage borrowers to begin the next loan. The two-week cycle repeats.
The CFPB wants to hear from people who have had experiences with payday lenders. In order to get a good grasp on how non-bank financial products can and should be regulated, the organization is seeking comments from the public. What have been your experiences with payday loans? Feel free to share here on Consumerism Commentary, or tell the CFPB your story directly.
Today on the Consumerism Commentary Podcast, Bryan J Busch talks to Andrea Woroch, consumer savings expert. They discuss when and why it can be smarter to shop for certain items during the winter. Consumerism Commentary Podcast Best Things to Buy During Winter: S06E17 / 170 Download – RSS – iTunes Table of contents [00:00] Introduction ... Continue reading this article…
Today on the Consumerism Commentary Podcast, Bryan J Busch talks to Kathy Pickering, Executive Director of H&R Block’s Tax Institute. They discuss the difference between smart investments vs. emotional decisions, the importance of financial planning, and how most people are better off just buying an index fund and ignoring investment gurus. Consumerism Commentary Podcast Tax ... Continue reading this article…
Today on the Consumerism Commentary Podcast, Tom Dziubek talks to Consumerism Commentary founder Flexo about New Year’s resolutions. Flexo discusses several tips to addressing New Year’s resolutions including performing an honest self-assessment, setting goals that are meaningful to you and breaking them down into more manageable chunks. Consumerism Commentary Podcast New Year’s Resolutions: S06E12 / ... Continue reading this article…
This is a guest post by Forest from Frugal Zeitgeist. Forest writes about frugality, finance, minimalism and lifestyle. In this article, Forest shares his experiences in the kitchen. Cooking great meals is a great way to save money and stay healthy, but it’s a skill that I haven’t developed for myself. Passion can boost motivation, ... Continue reading this article…
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[00:00] Introduction from Tom Dziubek
If you compare a short-term payday loan with a loan from a bank, you might see that the payday loan’s equivalent interest rate (APR) is 450% or even higher. Mortgages tend to be 3% to 7%, business and personal loans could be 5% to 10%, and credit cards are 10% to 20% unless you default. Anything higher, and the loan might be considered usurious. So how do payday lenders get away with charging 450% or more? 
