tag:blogger.com,1999:blog-3759699821063487306Mon, 09 Sep 2024 14:06:12 +0000Brick and Mortar BanksChoosing a Credit CardInternet BanksATM FeesCredit Card DebtRoth IRA401(k)Balance TransfersCredit CrisisDebit CardsHealth InsuranceInterestStudent DebtTaxesTravel Tipsmortgage<b>A Guide for the Financially Illiterate</b>http://sensefordollars.blogspot.com/noreply@blogger.com (Unknown)Blogger17125tag:blogger.com,1999:blog-3759699821063487306.post-3052413772889701251Thu, 05 Mar 2009 15:35:00 +00002009-03-05T07:36:56.839-08:00The largest group of uninsured adults in America continues to be young people. Some are underemployed and get no benefits from their employer; more and more are jobless as the economy becomes increasingly unwelcoming to newly minted graduates. These are tough times. But why are the poor paying higher prices for healthcare than anyone else?It's a perfect storm, really. The uninsured are more http://sensefordollars.blogspot.com/2009/03/health-insurance-something-is-better.htmlnoreply@blogger.com (Unknown)4tag:blogger.com,1999:blog-3759699821063487306.post-4842742315687667257Mon, 12 May 2008 22:45:00 +00002008-05-12T16:00:42.916-07:00mortgageThere's been a lot of movement in the housing market, with prices falling in many metro areas around the country. Those of you thinking about jumping in the real estate market and buying a home, you might be able to get a good deal these days. But when figuring out what you can afford, you'll need to understand the basic difference between a fixed rate mortgage and an adjustable rate mortgage.Ahttp://sensefordollars.blogspot.com/2008/05/fixed-vs-adjustable-rate-mortgages.htmlnoreply@blogger.com (Unknown)0tag:blogger.com,1999:blog-3759699821063487306.post-7552414365560959027Mon, 05 May 2008 03:25:00 +00002008-05-04T20:39:23.730-07:00Credit CrisisA number of you have e-mailed about the credit crisis, subprime mortgages, and other related topics asking what it all means.A critical concept to understand that the media doesn't often talk about is the trend toward "securitization" of mortgages. In the old days, people would normally go to a local retail bank and meet with a loan officer to get a mortgage. This bank would then collect http://sensefordollars.blogspot.com/2008/05/whats-this-credit-crisis-about.htmlnoreply@blogger.com (Unknown)0tag:blogger.com,1999:blog-3759699821063487306.post-1141773584501319959Mon, 14 Apr 2008 00:39:00 +00002008-04-13T17:44:26.278-07:00If you keep delaying the inevitable and haven't done your taxes yet, there is a backup option. For no penalty, you can file for an automatic extension using Form 4868 to get six extra months. A few caveats:1) If you think you might owe money, pay it when you file this form. You are not getting an extension to pay, just to file. If you don't pay what you owe, you'll pay a penalty. You are http://sensefordollars.blogspot.com/2008/04/need-more-time-to-do-your-taxes.htmlnoreply@blogger.com (Unknown)0tag:blogger.com,1999:blog-3759699821063487306.post-5997879480607940987Tue, 08 Apr 2008 03:59:00 +00002008-04-07T21:07:40.134-07:00Hopefully, many of you have already done your taxes by now and know whether or not you are getting a refund or not. While it may seem that getting a refund is great, it actually means you overpaid during the year. You gave the government a free loan, and now they are paying you back. Wouldn't it have been better if you never gave them a loan at all?If you are getting a substantial refund, it http://sensefordollars.blogspot.com/2008/04/youre-getting-tax-refund-you-messed-up.htmlnoreply@blogger.com (Unknown)1tag:blogger.com,1999:blog-3759699821063487306.post-728794714099069853Tue, 01 Apr 2008 14:19:00 +00002008-04-01T07:31:04.506-07:00Roth IRAApril 15th is the deadline for contributing to your Roth IRA for 2007. If you made less than $99,000 last year, those of us under 50 can contribute $4,000 of after-tax income. (If you made less than $114,000, you can still contribute, just not the full amount.)Remember, your contributions to your Roth IRA can always be withdrawn. But you should try to avoid touching the money, since any http://sensefordollars.blogspot.com/2008/04/make-your-2007-roth-ira-contribution.htmlnoreply@blogger.com (Unknown)3tag:blogger.com,1999:blog-3759699821063487306.post-6220303586355953270Sun, 10 Feb 2008 17:01:00 +00002008-02-10T09:16:43.344-08:00Banks have once again raised fees for overdrafts (writing a check for more than the balance of your bank account). These fees are becoming a critical part of how banks make money, so you'll need to show extra caution now.So what does this have to do with your debit card? A debit card is just another way to use an electronic check. The industry is currently engaging in what many believe to be http://sensefordollars.blogspot.com/2008/02/yet-another-reason-to-stop-using-your.htmlnoreply@blogger.com (Unknown)10tag:blogger.com,1999:blog-3759699821063487306.post-5646396471862398706Fri, 01 Feb 2008 13:47:00 +00002008-02-10T09:17:08.006-08:00401(k)Roth IRATaxesI have this friend who is so proud of herself these days. Beth told a group of us that she opened up an ING online savings account and put all her savings there which will earn more than triple what her checking account earns. After the oooh's and ahhh's subsided, the bubble-burster in me went in for the kill."So this is money you saved on top of your Roth IRA contribution?" Her clueless http://sensefordollars.blogspot.com/2007/05/saving-roth-iras-vs-401ks.htmlnoreply@blogger.com (Unknown)0tag:blogger.com,1999:blog-3759699821063487306.post-947261148242007975Thu, 27 Dec 2007 20:48:00 +00002007-12-27T20:45:23.884-08:00Brick and Mortar BanksChoosing a Credit CardInternet BanksTravel TipsThe US Dollar is worth a lot less than it used to be in most foreign countries. Here are some common mistakes many travelers make:Buying travelers chequesTravelers cheques do have one big advantage -- if you lose them, they can be fairly easily replaced. But you can often get gouged when changing them to local currency. If you want to bring travelers cheques, get them issued here in the US in http://sensefordollars.blogspot.com/2007/12/travel-tip-exchanging-money-abroad.htmlnoreply@blogger.com (Unknown)4tag:blogger.com,1999:blog-3759699821063487306.post-2394002342375415581Thu, 27 Dec 2007 03:14:00 +00002007-12-28T17:06:13.164-08:00Health InsuranceMatchingA. No Health Insurance B. Comprehensive Traditional Policy C. High-Deductible Catastrophic 1. Probably Getting Ripped Off2. Independently Wealthy or Delusional3. SavvyAnswersA-2, B-1, C-3Choosing health insurance is annoying and something that most young adults don't pay close attention to. Many young people fall in one of these categories:No Health Insurance athttp://sensefordollars.blogspot.com/2007/12/buying-health-insurance.htmlnoreply@blogger.com (Unknown)0tag:blogger.com,1999:blog-3759699821063487306.post-6260879345339137600Fri, 21 Dec 2007 16:35:00 +00002007-12-26T19:55:54.119-08:00Credit Card DebtStudent DebtYes, borrowing more. More people than you might think are racking up the wrong kind of debt, when they don't need to be. Take a look at these debt situations:The total amount of debt is the same, with drastically different amounts of interest. Don't forget that student debt has deferred payments and is often tax deductible, making it even better than credit card debt.Students and recent grads http://sensefordollars.blogspot.com/2007/12/should-you-be-borrowing-more.htmlnoreply@blogger.com (Unknown)0tag:blogger.com,1999:blog-3759699821063487306.post-3280282205614345165Mon, 11 Jun 2007 10:30:00 +00002007-12-27T09:14:36.643-08:00Choosing a Credit CardI’m sure all of us have gone out to dinner with a big group and sometimes have that awkward feeling when the check comes. Is that annoying girl who only ordered salad but drank more wine than everyone gonna try and protest splitting the bill? We all hate that. But then there is that other girl, who always wants to pay with a credit card. Sometimes, she even takes other people’s cash and puts http://sensefordollars.blogspot.com/2007/06/choosing-credit-card.htmlnoreply@blogger.com (Unknown)2tag:blogger.com,1999:blog-3759699821063487306.post-1813819849588903121Tue, 05 Jun 2007 15:08:00 +00002007-12-27T13:08:54.349-08:00ATM FeesBrick and Mortar BanksInternet BanksI recently gave a check to a friend for several hundred dollars. While most would expect to hear a "thank you," his response was, "What the hell is Umbrellabank?"I explained to him that it was a virtual bank which solely operated online. He asked a lot of questions, including:"How do you know they are real?""Where do they keep the money?""Aren't you afraid about keeping your money on a website?http://sensefordollars.blogspot.com/2007/06/choosing-bank-brick-and-mortar-or.htmlnoreply@blogger.com (Unknown)2tag:blogger.com,1999:blog-3759699821063487306.post-4918453705753803667Tue, 29 May 2007 09:37:00 +00002007-05-30T04:38:47.334-07:00Debit CardsWhy do people think they've made some sort of major accomplishment by cutting up a credit card? They still owe the debt that they probably accumulated on it. The account is still active. They can still use the number.This "cutting up your credit card" nonsense is the exact kind of advice that the so-called experts give to young people. In their usual condescending way, they think that young http://sensefordollars.blogspot.com/2007/05/dont-cut-up-your-credit-card-but-your.htmlnoreply@blogger.com (Unknown)15tag:blogger.com,1999:blog-3759699821063487306.post-7467951841551291909Sat, 26 May 2007 06:49:00 +00002007-12-28T17:20:56.348-08:00Balance TransfersChoosing a Credit CardCredit Card DebtInterestWhy do people seem to think their financial troubles are solely due to their Starbucks habit? Personal finance gurus love to talk about how making coffee at home will somehow allow you to retire 10 years earlier. Some coffee quitters are so proud of themselves that they want to spread their gospel -- one of these students was so proud of their genius that they made a coffee calculator.The mediahttp://sensefordollars.blogspot.com/2007/05/coffee-is-not-problem-interest-is.htmlnoreply@blogger.com (Unknown)0tag:blogger.com,1999:blog-3759699821063487306.post-2225956550442489294Tue, 22 May 2007 09:47:00 +00002007-06-07T01:39:27.590-07:00ATM FeesBrick and Mortar BanksInternet BanksAmericans pay billions of dollars in ATM fees every year. When you use an ATM that belongs to a different bank other than your own, the law permits your bank to charge you a fee AND the ATM owner to charge you as well.In 2006, the average surcharge assessed by ATM owners climbed again. Add in your bank's surcharge and $20 withdrawal to get some cash for a cab ride might cost you up to 20% extrahttp://sensefordollars.blogspot.com/2007/05/choosing-bank-atm-fees.htmlnoreply@blogger.com (Unknown)1tag:blogger.com,1999:blog-3759699821063487306.post-8511201672630244706Sat, 19 May 2007 06:19:00 +00002007-05-19T16:49:47.054-07:00There's something bizarre about our society that we don't seem to realize is a problem. Smart, educated college graduates starting their first job seem to have no idea how to approach some of the most basic questions of financial survival. And some of them never seem to figure it out.I asked a recent Harvard graduate living in New York about his financial life:Annual salary: $70,000Credit card http://sensefordollars.blogspot.com/2007/05/financially-illiterate.htmlnoreply@blogger.com (Unknown)1