As featured in The Wall Street Journal, Money Magazine, and more!

December 2012

An Introduction to Naked With Cash

by Luke Landes

It’s time to get Naked With Cash! No, none of us at Consumerism Commentary will be removing our clothes and swimming in a pool of hundred dollar bills. Naked With Cash is the new series in which the public will be able to follow the financial progress of up to seven Consumerism Commentary readers who […]

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American Express, Capital One and Discover® Refunds Total $435 Million

by Luke Landes

The Consumer Financial Protection Bureau hasn’t stopped its crusade against credit card issuers that manipulate and deceive its customers. Earlier this year, regulators ordered Capital One to pay $210 million in refunds and fines for tricking card holders into buying add-on products with the implication that these were required purchases for those with bad credit, […]

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What Happens If Your Bank Account Is Hacked?

by Luke Landes

McAfee Labs, a company that deals with internet security from malware and hackers, has announced that a ring of criminals intend to steal money from customers with accounts at major American banks. The operation even has a codename, “Project Blitzkreig,” and is rumored to go into effect this coming spring. The fact that this plan […]

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IBM Cutting Major Employee 401(k) Benefit

by Luke Landes

When you’ve proceeded beyond the series of interviews and salary negotiations, there are few better feelings than signing the offer letter and accepting a new job — particularly if you’re moving to a new position away from one that was less than satisfying. You sign this letter and you have some expectations for how the […]

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Coin Collecting Is Dead

by Luke Landes

My memory may be fuzzy when I think back to when I was five or six years old, but one thing that stands out is my grandmother’s house in Queens, New York. She had a coffee grinder full of pennies, and I’d enjoy looking through this collection, placing the best-looking coin of each date and […]

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Privilege and Luck Drive Success: Toxic Financial Attitudes

by Luke Landes

Let’s forget that most motivational stories are designed to get readers to purchase something or otherwise spend money. Gurus who consider themselves motivational speakers know this well. In a room full or listeners or an internet full of readers, a story with a positive message followed by a “call for action” is an effective sales […]

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Someone Will Take Care of Me: Toxic Financial Attitudes

by Luke Landes

Eleven years ago, I left a job at a small company. My boss, the head of the company, agreed to call the break-up mutual, but I was leaving the organization without any prospects for a new job. I spent the next few months looking for a teaching job that matched my interests and my degree, […]

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Citigroup Laying Off 11,000 Employees

by Luke Landes

As part of a measure to cut ongoing expenses for the benefit of major shareholders, Citigroup has announced a massive reduction of employment, affecting over four percent of the company’s workforce across the world. The new CEO, Michael Corbat, has determined the best course of action to increase the value of the company for investors […]

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Albert Einstein’s Philosophies For Growing Wealth

by Luke Landes

Although blogs and newspapers alike have oft posthumously placed a familiar quotation pertaining to compound interest — it being the most powerful force in the universe or man’s greatest invention — in the mouth of Albert Einstein, there is no evidence he ever said such a thing. He might have; the sentiment matches what seems […]

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