10 Reasons You Should Never Buy a Load Fund
http://mutualfunds.about.com/gi/dynamic/offsite.htm?zi=1/XJ/Ya&sdn=mutualfunds&cdn=money&tm=28&f=00&tt=14&bt=0&bts=0&zu=http%3A//www.fundadvice.com/FEhtml/InvestingBasics/9504(b).htm
Say 'No' to Loaded Mutual Funds
Always Use No-load Mutual Funds.
http://mutualfunds.about.com/cs/noload/fr/notoloads.htm
Load vs No-Load: Paying For Advise
http://www.usatoday.com/money/perfi/columnist/waggon/0027.htm
Friday, September 3, 2010
Sunday, August 29, 2010
Saturday, August 28, 2010
The Bondage of Debt
Do you know that it could take you over 18 years – and at least $31,000 in interest payments – to pay off a $10,000 debt on a credit card with a 19% rate, if you only pay the monthly minimum and never used the card again to make a purchase . (DSI.com)
Thursday, August 5, 2010
Proposed Credit Card Rules
http://www.federalreserve.gov/newsevents/press/bcreg/20080502a.htm
http://www.creditcards.com/credit-card-news/unfair-credit-card-trade-practices-1282.php
http://news.moneycentral.msn.com/provider/providerarticle.aspx?feed=AP&date=20080503&id=8579762
RECORD NUMBER OF COMMENTS OVER PROPOSED CREDIT CARD RULES
On May 2, the Federal Reserve Board proposed regulations to curb unfair and abusive practices that credit card companies use against their customers. The proposed regulations include prohibitions against the controversial practices of universal default and two-cycle billing. As part of the proposal, the Board opened up the process for public comments through its website. Consumers, advocates and industry representatives submitted over 42,775 comments -- the vast majority of which are in support of the regulations.
Many of the comments were short complaints against credit card companies charging late fees, shifting due dates and increasing interest rates. Another common theme in many of the posts was the practice of charging higher interest and fees to consumers who demonstrated financial distress.
Beth Slifer of Edwards, Colorado, included her statement from Frontier Airlines World MasterCard showing the $49.00 annual fee and the $29.00 late fee because she was unaware of the annual fee that was due in 14 days of opening the account. Add the $2.41 in interest charges and she was in debt over $80.00 before even using the card.
Peter Chamberlain of Hurst, Texas, is a retired lawyer who represented credit card companies in the past. In his comments, Chamberlain recounted how Capital One sold his disabled wife, who could not work and was on Social Security Insurance, four subprime credit card accounts because each carried a separate annual fee.
Steven Schell of Portland, Oregon, simply submitted a letter he sent to GE Money over their failure to provide adequate time to make his payment and then charging him interest on the balance he attempted to pay off before the grace period. GE Money, who owns the Chevron Texaco card business, sent Schell's statement so that it arrived on May 9. The statement due date was May 15, giving him insufficient time to mail in his payment.
On the other side of the debate, the Board met with the American Bankers Association and representatives from several large banks who opposed the regulations. One point noted by the Board was that the group complained "The proposal would adversely affect issuers' profits."
http://www.creditcards.com/credit-card-news/unfair-credit-card-trade-practices-1282.php
http://news.moneycentral.msn.com/provider/providerarticle.aspx?feed=AP&date=20080503&id=8579762
RECORD NUMBER OF COMMENTS OVER PROPOSED CREDIT CARD RULES
On May 2, the Federal Reserve Board proposed regulations to curb unfair and abusive practices that credit card companies use against their customers. The proposed regulations include prohibitions against the controversial practices of universal default and two-cycle billing. As part of the proposal, the Board opened up the process for public comments through its website. Consumers, advocates and industry representatives submitted over 42,775 comments -- the vast majority of which are in support of the regulations.
Many of the comments were short complaints against credit card companies charging late fees, shifting due dates and increasing interest rates. Another common theme in many of the posts was the practice of charging higher interest and fees to consumers who demonstrated financial distress.
Beth Slifer of Edwards, Colorado, included her statement from Frontier Airlines World MasterCard showing the $49.00 annual fee and the $29.00 late fee because she was unaware of the annual fee that was due in 14 days of opening the account. Add the $2.41 in interest charges and she was in debt over $80.00 before even using the card.
Peter Chamberlain of Hurst, Texas, is a retired lawyer who represented credit card companies in the past. In his comments, Chamberlain recounted how Capital One sold his disabled wife, who could not work and was on Social Security Insurance, four subprime credit card accounts because each carried a separate annual fee.
Steven Schell of Portland, Oregon, simply submitted a letter he sent to GE Money over their failure to provide adequate time to make his payment and then charging him interest on the balance he attempted to pay off before the grace period. GE Money, who owns the Chevron Texaco card business, sent Schell's statement so that it arrived on May 9. The statement due date was May 15, giving him insufficient time to mail in his payment.
On the other side of the debate, the Board met with the American Bankers Association and representatives from several large banks who opposed the regulations. One point noted by the Board was that the group complained "The proposal would adversely affect issuers' profits."
Monday, August 2, 2010
Capital Gains Taxes?
http://online.wsj.com/article/SB121659695380368965.html?mod=opinion_main_review_and_outlooks
http://danwismar.com/archives/wizblog/2008/07/21/who_pays_taxes
http://www.house.gov/jec/publications/109/rr109-36.pdf
http://www.fairtaxblog.com/20060524/who-pays-taxes-in-the-usa/
http://www.ntu.org/main/page.php?PageID=6
http://www.american.com/archive/2007/november-december-magazine-contents/guess-who-really-pays-the-taxes
http://www.taxfoundation.org/blog/show/341.html
http://www.tomsusan.com/tom/blog/2006/05/who-pays-taxes-in-usa.html
http://online.wsj.com/article/SB121659695380368965.html
http://online.wsj.com/article/SB121659695380368965.html?mod=opinion_main_review_and_outlooks
http://danwismar.com/archives/wizblog/2008/07/21/who_pays_taxes
http://www.house.gov/jec/publications/109/rr109-36.pdf
http://www.fairtaxblog.com/20060524/who-pays-taxes-in-the-usa/
http://danwismar.com/archives/wizblog/2008/07/21/who_pays_taxes
http://www.house.gov/jec/publications/109/rr109-36.pdf
http://www.fairtaxblog.com/20060524/who-pays-taxes-in-the-usa/
http://www.ntu.org/main/page.php?PageID=6
http://www.american.com/archive/2007/november-december-magazine-contents/guess-who-really-pays-the-taxes
http://www.taxfoundation.org/blog/show/341.html
http://www.tomsusan.com/tom/blog/2006/05/who-pays-taxes-in-usa.html
http://online.wsj.com/article/SB121659695380368965.html
http://online.wsj.com/article/SB121659695380368965.html?mod=opinion_main_review_and_outlooks
http://danwismar.com/archives/wizblog/2008/07/21/who_pays_taxes
http://www.house.gov/jec/publications/109/rr109-36.pdf
http://www.fairtaxblog.com/20060524/who-pays-taxes-in-the-usa/
For Tax Year 2006
Percentiles Ranked by AGI | AGI Threshold on Percentiles | Percentage of Federal Personal Income Tax Paid |
Top 1% | $388,806 | 39.89 |
Top 5% | $153,542 | 60.14 |
Top 10% | $108,904 | 70.79 |
Top 25% | $64,702 | 86.27 |
Top 50% | $31,987 | 97.01 |
Bottom 50% | <$31,987 | 2.99 |
Note: AGI is Adjusted Gross Income Source: Internal Revenue Service | ||
Tuesday, July 13, 2010
Gas Prices
Shop Around for Price
Prices for gas can vary as much as .40 per gallon. As I write this, the difference in the lowest and the highest price for regular in my area is .96 - only 4 cents shy of a dollar. How can one station charge nearly $1.00 a gallon more than another in the same area?
There are several websites that gather information on current gas prices. It is worth spending a little time determining where the least expensive gas can be purchased in your area. If you are a Costco or Sam's Club member, their prices are usually about good as any.
Two of the sites I like best are Fuel Prices and GasBuddy that provide information on where you can find the best gas prices in your area. Also, Mapquest and MSN have sites that provide such data. If you use IGoogle, you can add a gadget to monitor gas prices for you.
Remember, that a bargain may not be a bargain if you spend more money and time driving to get that bargain than the higher price nearby.
What Do You Think?
There are several websites that gather information on current gas prices. It is worth spending a little time determining where the least expensive gas can be purchased in your area. If you are a Costco or Sam's Club member, their prices are usually about good as any.
Two of the sites I like best are Fuel Prices and GasBuddy that provide information on where you can find the best gas prices in your area. Also, Mapquest and MSN have sites that provide such data. If you use IGoogle, you can add a gadget to monitor gas prices for you.
Remember, that a bargain may not be a bargain if you spend more money and time driving to get that bargain than the higher price nearby.
What Do You Think?
Wednesday, July 7, 2010
Energy Savings
Are You Interested in Saving Money on Electricity?
If you are, a fairly easy was to reduce your electric bill is to find an alternative electric supplier. With the deregulation of electricity suppliers, the door is now open to competition is electricity. About 30 years ago, long distance telephone companies were deregulated allowing consumers to have a choice in long distance providers. Prior to that time, there was a single company (a monopoly) in long distance - there was no competition. That changed and the cost per minute for long distance declined from about .35 cents per minute to an average of about .05 cents per minute today.
The same thing has occurred in the supply of electric power. You now have a choice and by exercising that choice you can generally save 10 - 20 percent on your electric bill. If you do so, the electricity will still come over the same wires and perhaps you may be billed by the same electric supplier, but at a reduced rate.
It is usually as simple as filling out an online or paper form.
In my own experience, my original electric company still delivers the electric power and they still bill me as before, but now I am billed in behalf of my new provider. I am paying 18 percent less with my new provider. Not a bad deal.
To see your alternatives search on alternative electric suppliers.
What Do You Think?
The same thing has occurred in the supply of electric power. You now have a choice and by exercising that choice you can generally save 10 - 20 percent on your electric bill. If you do so, the electricity will still come over the same wires and perhaps you may be billed by the same electric supplier, but at a reduced rate.
It is usually as simple as filling out an online or paper form.
In my own experience, my original electric company still delivers the electric power and they still bill me as before, but now I am billed in behalf of my new provider. I am paying 18 percent less with my new provider. Not a bad deal.
To see your alternatives search on alternative electric suppliers.
What Do You Think?
Monday, June 14, 2010
Who is Viewing Your Credit History
Do Not Call Me
As mentioned in an earlier post, The Federal Trade Commission (FTC) has a Do Not Call Registry. This registry or list gives you the opportunity to bar certain telemarketers from calling your phone. The details can be read at Do Not Call Me. Is there anything to stop unwanted mail?
Do Not Mail Me
Are you fed up with the amount of junk mail you receive including pre-approved credit card offers. There are also ways to limit the amount of unwanted or junk mail you receive. Why should you care? First, when you receive an unsolicited credit card offer, that is an indication that those who sent you the offer have had access to your credit report. If you receive such offers frequently, your credit history is frequently checked. Do you want these people viewing your credit report?
Second, a leading source of information used in identity theft stems from these unsolicited credit card offers.
You should be aware that you are empowered to stop the credit card offers and limit the other unsolicited mail you receive.
To keep unwanted eyes from viewing your credit history and to reduce the likelihood of identity theft, you might want to say STOP. And you can say stop.
If you want to stop unsolicited credit card offers, you can call 888-567-8688) or visit www.optoutprescreen.com. You will be required to provide personal information including your social security number which will only be used to identify you so you can opt out of receiving pre-approved credit offers. The information is confidential and will not be used for any other purpose.
For additional information, The Federal Trade Commission (FTC) provides detailed instruction on just how this is accomplished at Unsolicited Mail.
What Do You Think?
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