tag:blogger.com,1999:blog-247449762010-07-29T07:12:18.823-05:00Getting Debt Free is a struggle and can't be done over night. The Prince and his Princess discuss their efforts to become and stay debt free, even as they move closer to their 8/21/10 wedding date and relocation to Austin, TX. "Be weird...Be DebtFree4ever.net"Prince of Thrifthttp://www.blogger.com/profile/07863514672517538661noreply@blogger.comBlogger1727125tag:blogger.com,1999:blog-24744976.post-39915093034893441342010-07-28T16:32:00.001-05:002010-07-28T16:32:00.100-05:002010-07-28T16:32:00.100-05:00While I was in Austin recently, besides getting a place to live, I visited some of the tourist locations. This video is of the Texas Peace Officers memorial on the grounds of the Texas State Capital.<br /> <br /> <object height="295" width="480"><param name="movie" value="http://www.youtube.com/v/0F-bvQuCyQY&amp;hl=en_US&amp;fs=1"><param name="allowFullScreen" value="true"><param name="allowscriptaccess" value="always"><embed src="http://www.youtube.com/v/0F-bvQuCyQY&amp;hl=en_US&amp;fs=1" allowscriptaccess="never" allowfullscreen="true" wmode="transparent" type="application/x-shockwave-flash" height="295" width="480"></embed></object><br /> <br /> <b>---<br /> go ahead share your thoughts with me now, my ears are open. I'm always eager to hear what you think. </b><br /> <hr color="red"><a href="https://www.paypal.com/cgi-bin/webscr?cmd=_s-xclick&amp;hosted_button_id=57E97KY7C572E">Sponsor This Post(via PayPal) for $75 and Replace This Text</a>. <hr color="RED"><br /> <a href="http://twitter.com/princeOFthrift" target="new">follow me on Twitter</a> <script type="text/javascript"><!-- google_ad_client = "pub-5907948404449484"; /* 125x125, created 2/3/08 */ google_ad_slot = "2280874391"; google_ad_width = 125; google_ad_height = 125; //--></script> <script type="text/javascript" src="http://pagead2.googlesyndication.com/pagead/show_ads.js"></script> <hr /><div style="text-align: center;" align="center"><div><a href="http://www.ringsurf.com/ring/austinbloggers/">austin bloggers</a></div><a href="http://www.ringsurf.com/">Powered By Ringsurf</a></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/24744976-3991509303489344134?l=www.debtfree4ever.net' alt='' /></div> <p><a href="http://feedads.g.doubleclick.net/~a/rgb2T-lYcilVIoX9SHDtqWIkBPU/0/da"><img src="http://feedads.g.doubleclick.net/~a/rgb2T-lYcilVIoX9SHDtqWIkBPU/0/di" border="0" ismap="true"></img></a><br/> <a href="http://feedads.g.doubleclick.net/~a/rgb2T-lYcilVIoX9SHDtqWIkBPU/1/da"><img src="http://feedads.g.doubleclick.net/~a/rgb2T-lYcilVIoX9SHDtqWIkBPU/1/di" border="0" ismap="true"></img></a></p><img src="http://feeds.feedburner.com/~r/debtfree4ever/HfZu/~4/G-FahX0zUtU" height="1" width="1"/>Prince of Thrifthttp://www.blogger.com/profile/07863514672517538661noreply@blogger.com0http://www.debtfree4ever.net/2010/07/texas-peace-officers-memorial.htmltag:blogger.com,1999:blog-24744976.post-91245874502073568692010-07-27T08:30:00.062-05:002010-07-27T08:30:00.442-05:002010-07-27T08:30:00.442-05:00I have been reluctant to issue any endorsements this year in the Kansas primary. However with the August 3 primary upon us, I have decided that I should. In addition, with my upcoming move to Texas, I have decided to restart <a href="http://www.kevinsview.com/" target="new">KevinsView.com</a>. For those unfumiliar with Kevin's View, it was a political blog, which I ran for several years, before I started <a href="http://www.debtfree4ever.net/" target="new">DebtFree4ever.net</a>. The readership, of the financial blog surpassed that of the political blog, so I merged them together. Now, perhaps it is time again to have a political blog as well as the financial blog. Below is my endorsements for the last election, that I will vote in here in Kansas. <br /> <br /> <br /> <li> <b>Governor: Sam Brownback</b><br /> The Economy is the main reason, I have supported Sam from the very get-go. <br /> <br /> <blockquote>Sam Brownback is running for Governor to grow Kansas. Economic growth supports everything we do as a state---it feeds families, provides opportunities for young people, makes seniors more secure in their retirement, generates revenue for government services and charities at all levels and provides the goods and services that support our quality of life. Economic growth is the engine that makes our state go. Restoring growth will be Sam Brownback's top priority as Governor.</blockquote>In addition when it comes to Taxes, Brownback opposes tax increases, particularly in times of economic distress. To prove his commitment to this, he signed the Americans For Prosperity's “No Climate Tax” Pledge.<br /> </li><br /> <br /> <li> <b>U.S. Senate: Todd Tihart</b><br /> Tihart's opponent is a very good man. One I would be proud to see in the Senate. Can't go wrong with either one. However, I believe Todd would be the best for Kansas and he current Economy. He has proven himself the financially responsible, while he has been in the Congress. His opponents mailer sealed my endorsement of Tihart. As a former Democrat, I don't take kindly to his opponet trying to put him down, because he was a registered Democrat before he ran for Congress. What was the point? Ronald Reagan, one of this Nation's best Presidents (and most Conservative) also was a former Democrat. I would rather look at Tihart's Congressional voting record. That tells me a lot more then, how he was registered to vote 26 or 30 years ago. <br /> </li><br /> <br /> <li> <b>Congress (2nd District): Lynn Jenkins</b><br /> Lynn is the former State Treasurer, and a confirmed reader of <a href="http://www.debtfree4ever.net/">DebtFree4ever.net</a>, as such you know she must have a good handle on finances. Her own words prove that to be true. <br /> <br /> <blockquote>I am convinced now more than ever that our federal government’s greatest problem is its addiction to spending. Too many politicians who have been in Washington for too long have forgotten that taxpayers are what keeps our government going. Instead of being responsible and eliminating waste, fraud, and abuse or reigning in spending, many politicians think they have been given a blank check to do as they please. I couldn’t disagree more.<br /> <br /> That’s why I have stayed committed to conservative fiscal policies that put America’s security and future generations first and foremost. We cannot continue to give hostile foreign nations greater influence or simply pass the burden on to our kids and grand-kids. If we want to put our nation back on the path to prosperity, we need people in Washington who believe in and will practice fiscal restraint. I pledge to continue doing just that by opposing wasteful earmarks and pushing for reforms in the earmarking process. </blockquote></li><br /> <br /> <li> <b>Attorney General: Derek Schmidt</b><br /> <br /> </li><br /> <br /> <li> <b>Sec. of State: Elizabeth "Libby" Ensley</b><br /> Libby is the only Republican candidate, who has first hand knowledge of the job. She has served as Shawnee County Election Commissioner, since she was appointed by then Secretary of State Bill Graves in 1992. Before that, she had worked in every department in the Secretaries office since 1981. <br /> <br /> </li><br /> <br /> <li><b> Insurance Commissioner: Sandy Praeger</b><br /> She is the only experienced candidate for this office. <br /> <blockquote>Commissioner Sandy Praeger was elected as Kansas' 24th Commissioner of Insurance on November 2, 2002. She was reelected on November 7, 2006. Commissioner Praeger is responsible for regulating all insurance sold in Kansas and overseeing the nearly 1,700 insurance companies and more than 92,000 agents licensed to do business in the state.</blockquote><br /> </li><br /> <br /> <li> Treasurer: Ron Estes<br /> As Sedgwick County Treasurer, Ron has the qualifications to be our next State Treasurer and first elected Treasurer since Lynn Jenkins resigned to go to Congress. <br /> <br /> <br /> <br /> <b>---<br /> go ahead share your thoughts with me now, my ears are open. I'm always eager to hear what you think. </b> <br /> <br /> <hr color="red" /><a href="https://www.paypal.com/cgi-bin/webscr?cmd=_s-xclick&amp;hosted_button_id=57E97KY7C572E">Sponsor This Post(via PayPal) for $75 and Replace This Text</a>. <br /> <hr color="RED" /><br /> <a href="http://twitter.com/princeOFthrift" target="new">follow me on Twitter</a> <script type="text/javascript"> <!-- google_ad_client = "pub-5907948404449484"; /* 125x125, created 2/3/08 */ google_ad_slot = "2280874391"; google_ad_width = 125; google_ad_height = 125; //--> </script> <script src="http://pagead2.googlesyndication.com/pagead/show_ads.js" type="text/javascript"> </script> <br /> <hr /><div align="center" style="text-align: center;"><div><a href="http://www.ringsurf.com/ring/austinbloggers/">austin bloggers</a></div><a href="http://www.ringsurf.com/">Powered By Ringsurf</a></div></li><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/24744976-9124587450207356869?l=www.debtfree4ever.net' alt='' /></div> <p><a href="http://feedads.g.doubleclick.net/~a/U8-PZZckNqcPsTVbnJLoVrSGwCY/0/da"><img src="http://feedads.g.doubleclick.net/~a/U8-PZZckNqcPsTVbnJLoVrSGwCY/0/di" border="0" ismap="true"></img></a><br/> <a href="http://feedads.g.doubleclick.net/~a/U8-PZZckNqcPsTVbnJLoVrSGwCY/1/da"><img src="http://feedads.g.doubleclick.net/~a/U8-PZZckNqcPsTVbnJLoVrSGwCY/1/di" border="0" ismap="true"></img></a></p><img src="http://feeds.feedburner.com/~r/debtfree4ever/HfZu/~4/bjCRwblWKeo" height="1" width="1"/>Prince of Thrifthttp://www.blogger.com/profile/07863514672517538661noreply@blogger.com0http://www.debtfree4ever.net/2010/07/endorsements-in-kansas-primary.htmltag:blogger.com,1999:blog-24744976.post-29693137695600004042010-07-21T14:17:00.001-05:002010-07-21T14:17:00.905-05:002010-07-21T14:17:00.905-05:00I received an email from <a href="http://www.fivecentnickel.com" target="new">Five Cent Nickel</a>, that read <br /> <blockquote>As I’m sure you know, credit card statements are changing this month as a result of the Credit Card Act. <a href="http://www.fivecentnickel.com" target="new">Five Cent Nickel</a> has used information from the Federal Reserve to create an easy-to-understand interactive info graphic explaining the new statement changes. By hovering over different parts of the info graphic readers will see all the ways the credit card statement has changed.<br /> </blockquote>I found the interactive display to be of great quality and wanted to share it with my readers. Again this is a reproduction <a href="http://www.fivecentnickel.com" target="new">Nickel</a> of the information at the Federal Reserve website. <br /> <br /> <div id="rates_infographic" style="text-align:center;"><iframe src="http://www.fivecentnickel.com/infographic" frameborder="0" width="475" height="1055" scrolling="no" marginwidth="0" marginheight="0"></iframe><div id="fcn_link" style="text-align:center;"><a href="http://www.fivecentnickel.com/2007/12/18/the-best-credit-cards/" target="_blank" style="text-decoration:none;font-weight:bold;color:#005500;">Credit Card</a> Statement Changes from Five Cent Nickel</div></div><br /> <blockquote>Do you think consumers will pay off their credit cards faster once they know how much interest they're paying and how long it will take? Tell us what you think of the new statement.</blockquote><br /> <b>---<br /> go ahead share your thoughts with me now, my ears are open. I'm always eager to hear what you think. </b> <br /> <hr color="red" /><a href="https://www.paypal.com/cgi-bin/webscr?cmd=_s-xclick&amp;hosted_button_id=57E97KY7C572E">Sponsor This Post(via PayPal) for $75 and Replace This Text</a>. <br /> <hr color="RED" /><br /> <a href="http://twitter.com/princeOFthrift" target="new">follow me on Twitter</a> <script type="text/javascript"> <!-- google_ad_client = "pub-5907948404449484"; /* 125x125, created 2/3/08 */ google_ad_slot = "2280874391"; google_ad_width = 125; google_ad_height = 125; //--> </script> <script src="http://pagead2.googlesyndication.com/pagead/show_ads.js" type="text/javascript"> </script> <br /> <hr /><div align="center" style="text-align: center;"><div><a href="http://www.ringsurf.com/ring/austinbloggers/">austin bloggers</a></div><a href="http://www.ringsurf.com/">Powered By Ringsurf</a></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/24744976-2969313769560000404?l=www.debtfree4ever.net' alt='' /></div> <p><a href="http://feedads.g.doubleclick.net/~a/b_bON8MfF9TnAiuR7TZaVqHQq7I/0/da"><img src="http://feedads.g.doubleclick.net/~a/b_bON8MfF9TnAiuR7TZaVqHQq7I/0/di" border="0" ismap="true"></img></a><br/> <a href="http://feedads.g.doubleclick.net/~a/b_bON8MfF9TnAiuR7TZaVqHQq7I/1/da"><img src="http://feedads.g.doubleclick.net/~a/b_bON8MfF9TnAiuR7TZaVqHQq7I/1/di" border="0" ismap="true"></img></a></p><img src="http://feeds.feedburner.com/~r/debtfree4ever/HfZu/~4/nNizTVYp0BU" height="1" width="1"/>Prince of Thrifthttp://www.blogger.com/profile/07863514672517538661noreply@blogger.com0http://www.debtfree4ever.net/2010/07/learn-about-changes-to-your-credit-card.htmltag:blogger.com,1999:blog-24744976.post-14180725032012719772010-07-20T08:34:00.003-05:002010-07-20T08:34:00.381-05:002010-07-20T08:34:00.381-05:00I was asked a few moths back to review the book, "<a href="http://www.amazon.com/Personal-Capital-J-L-Eaton/dp/0557092892/ref=sr_1_1?ie=UTF8&s=books&qid=1264726759&sr=8-1" target="new">Personal Capital," by J. L. Eaton</a>. A chance that I jumped at. Unfortunately that's when things become so hectic around my home. I began planning a move. I went into hyper-drive to try to get my debts paid off. Anyway the book was placed on the back burner; and I delayed reading it and writing my review. <br /> <br /> This past week, while I was traveling in Austin, to look at apartments, I used the time to get the book read. The time on the plan, even though short jaunts was time for me to relax and just enjoy a good book. <br /> <br /> Which I can say, that I really did enjoy from the very first paragraph. That first paragraph said in just a few words, what I have been saying on this blog since its first inception. <br /> <blockquote>Although the idea of selling high-end merchandise to middle and upper-middle income people has been around for some time, Madison Avenue and it's marketing gurus have managed to foist the idea that everyone deserves everything imaginable. All that they have to do is carry the <i>right card</i>. The card magically provides the want-to-be rich with spending power; and suggest that they are independent, virle, sexy and just plain cool. Spending power relies on nothing more then using credit to buy whatever you want. Hyping the idea of spending power simply encourages you to buy higher-end goods and services than you need.</blockquote><br /> We all should know, and regular readers do know that I think Madison Avenue, not to mention the attitudes of most Americans, is ludicrous. In fact the second paragraph stated, <br /> <blockquote>The credit industry has created a false reality.</blockquote><br /> The thing is, it's trying to keep up with the Jones'. A very dangerous practice particularly if you can't afford it. As Thomas Jefferson said, <br /> <blockquote>Never spend your money before you have earned it.</blockquote><br /> Good advice from this countries third President, advice I wish even our leaders in today's Washington would heed. But, lets not get into politics here today. This book focuses on Economics, but personal economics, rather then national or international. Although in some ways, the lines between the three blur. As the author states, every dollar you earn is an allocatable resource that you must decide how to spend (or save). <br /> <br /> As such, he goes through the various aspects of your personal economics. He covers everything from Basic Economics (part 1) to Debt (part 2) to Taxes (part 3) to the Basics of Real Estate (part 4) and Investments (part 5). <br /> <br /> He seems to teach a lot of the same ideas as Dave Ramsey, except for on glaring exception. That being on the issue of credit cards, Eaton tells his readers, simply to refuse to carry a balance on credit cards. I'm sorry but that seems to go against the Thomas Jefferson quote (cited above) that he (Eaton) placed in the beginning of Chapter 1, of his book. If you are paying with credit, instead of saved money, then you are spending it before you earn it, even if you pay it off at the end of the month. <br /> <br /> However, the rest of his message seems to very close to Dave Ramsey and John Cummuta, who tell us to cut up our credit cards and get rid of debt. <br /> <ol><li>Start Tax Advantaged Retirement Accounts Now (40k, 403b, Thrift Savings plan, etc).</li> <li>&nbsp;Buy a moderate Home.</li> <li>&nbsp;Refuse to carry a balance on credit cards.</li> <li> Accelerate and pay off student Loan Debt Early.</li> <li>Purchase additional Investment Assets.</li> </ol><br /> The book (<a href="http://www.amazon.com/Personal-Capital-J-L-Eaton/dp/0557092892/ref=sr_1_1?ie=UTF8&s=books&qid=1264726759&sr=8-1" target="new">Personal Capital:Foundational Concepts of Capitalism by J. L. Eaton</a>) was very interesting and one that I will certainly be reading again. I encourage each and everyone of you reading my words to read this book and apply it to your financial lives. <br /> <br /> <b>---<br /> go ahead share your thoughts with me now, my ears are open. I'm always eager to hear what you think. </b> <br /> <hr color="red" /><a href="https://www.paypal.com/cgi-bin/webscr?cmd=_s-xclick&amp;hosted_button_id=57E97KY7C572E">Sponsor This Post(via PayPal) for $75 and Replace This Text</a>. <br /> <hr color="RED" /><br /> <a href="http://twitter.com/princeOFthrift" target="new">follow me on Twitter</a> <script type="text/javascript"> <!-- google_ad_client = "pub-5907948404449484"; /* 125x125, created 2/3/08 */ google_ad_slot = "2280874391"; google_ad_width = 125; google_ad_height = 125; //--> </script> <script src="http://pagead2.googlesyndication.com/pagead/show_ads.js" type="text/javascript"> </script> <br /> <hr /><div align="center" style="text-align: center;"><div><a href="http://www.ringsurf.com/ring/austinbloggers/">austin bloggers</a></div><a href="http://www.ringsurf.com/">Powered By Ringsurf</a></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/24744976-1418072503201271977?l=www.debtfree4ever.net' alt='' /></div> <p><a href="http://feedads.g.doubleclick.net/~a/pT2_X1B2yM2dFlWmKGlDJoeIV8o/0/da"><img src="http://feedads.g.doubleclick.net/~a/pT2_X1B2yM2dFlWmKGlDJoeIV8o/0/di" border="0" ismap="true"></img></a><br/> <a href="http://feedads.g.doubleclick.net/~a/pT2_X1B2yM2dFlWmKGlDJoeIV8o/1/da"><img src="http://feedads.g.doubleclick.net/~a/pT2_X1B2yM2dFlWmKGlDJoeIV8o/1/di" border="0" ismap="true"></img></a></p><img src="http://feeds.feedburner.com/~r/debtfree4ever/HfZu/~4/GGg8uma1ZFc" height="1" width="1"/>Prince of Thrifthttp://www.blogger.com/profile/07863514672517538661noreply@blogger.com1http://www.debtfree4ever.net/2010/07/personal-capital-foundational-concepts.htmltag:blogger.com,1999:blog-24744976.post-4737188591689934092010-07-19T09:55:00.000-05:002010-07-19T09:55:00.274-05:002010-07-19T09:55:00.274-05:00As I prepare to be for my upcoming wedding I must put out the request for guest posts. I will be away from my computer for a week. Maybe even two weeks as I get set back up from the move taking place at the same time. Not to mention, between now and this I will be spending more time packing and less time paying attention to the computer. <br /> So please, if you would like to submit an article to be considered a guest post, please send to the email in the left sidebar. Once I have reviewed it, I can get it into Que to post at an appropriate time. All posts will be given proper credit and will link back to the authors website (if they have one). Please don't hesitate, get your submissions in ASAP, and feel free to submit more then one article (as long as they are different and yours).<br /> <br /> thanks in Advance<br /> <br /> <br /> <b>---<br /> go ahead share your thoughts with me now, my ears are open. I'm always eager to hear what you think. </b> <br /> <hr color="red" /><a href="https://www.paypal.com/cgi-bin/webscr?cmd=_s-xclick&amp;hosted_button_id=57E97KY7C572E">Sponsor This Post(via PayPal) for $75 and Replace This Text</a>. <br /> <hr color="RED" /><br /> <a href="http://twitter.com/princeOFthrift" target="new">follow me on Twitter</a> <script type="text/javascript"> <!-- google_ad_client = "pub-5907948404449484"; /* 125x125, created 2/3/08 */ google_ad_slot = "2280874391"; google_ad_width = 125; google_ad_height = 125; //--> </script> <script src="http://pagead2.googlesyndication.com/pagead/show_ads.js" type="text/javascript"> </script> <br /> <hr /><div align="center" style="text-align: center;"><div><a href="http://www.ringsurf.com/ring/austinbloggers/">austin bloggers</a></div><a href="http://www.ringsurf.com/">Powered By Ringsurf</a></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/24744976-473718859168993409?l=www.debtfree4ever.net' alt='' /></div> <p><a href="http://feedads.g.doubleclick.net/~a/stZ6C8goY00IqaOBahYheVyVAOM/0/da"><img src="http://feedads.g.doubleclick.net/~a/stZ6C8goY00IqaOBahYheVyVAOM/0/di" border="0" ismap="true"></img></a><br/> <a href="http://feedads.g.doubleclick.net/~a/stZ6C8goY00IqaOBahYheVyVAOM/1/da"><img src="http://feedads.g.doubleclick.net/~a/stZ6C8goY00IqaOBahYheVyVAOM/1/di" border="0" ismap="true"></img></a></p><img src="http://feeds.feedburner.com/~r/debtfree4ever/HfZu/~4/QkGgr8_zWvE" height="1" width="1"/>Prince of Thrifthttp://www.blogger.com/profile/07863514672517538661noreply@blogger.com0http://www.debtfree4ever.net/2010/07/10-14-guest-posts-wanted.htmltag:blogger.com,1999:blog-24744976.post-60825966063546377052010-07-19T07:54:00.001-05:002010-07-19T07:54:00.653-05:002010-07-19T07:54:00.653-05:00<object style="background-image:url(http://i1.ytimg.com/vi/hRp5G3q93H8/hqdefault.jpg)" width="480" height="295"><param name="movie" value="http://www.youtube.com/v/hRp5G3q93H8&amp;hl=en_US&amp;fs=1"><param name="allowFullScreen" value="true"><param name="allowscriptaccess" value="always"><embed src="http://www.youtube.com/v/hRp5G3q93H8&amp;hl=en_US&amp;fs=1" width="480" height="295" allowScriptAccess="never" allowFullScreen="true" wmode="transparent" type="application/x-shockwave-flash"></embed></object><br /> I recently visited Austin, TX. While I was there I secured an apartment for my soon to be wife and I to live. It actually ended up being the first apartment that was looked at (and the biggest). Best of all, it will only be a mile or two from my fiances' son, who lives in an apartment nearby. <br /> <br /> While I was there, we went to Lake Travis, the UT Bell Tower (as in the video above) and the State Capital grounds. <br /> <br /> <br /> <b>---<br /> go ahead share your thoughts with me now, my ears are open. I'm always eager to hear what you think. </B><br /> <hr color=red><a href="https://www.paypal.com/cgi-bin/webscr?cmd=_s-xclick&hosted_button_id=57E97KY7C572E">Sponsor This Post(via PayPal) for $75 and Replace This Text</a>. <hr color=RED><br /> <a href="http://twitter.com/princeOFthrift" target="new">follow me on Twitter</a> <script type="text/javascript"><!-- google_ad_client = "pub-5907948404449484"; /* 125x125, created 2/3/08 */ google_ad_slot = "2280874391"; google_ad_width = 125; google_ad_height = 125; //--></script> <script type="text/javascript" src="http://pagead2.googlesyndication.com/pagead/show_ads.js"></script> <hr><div style="text-align: center;" align="center"><div><a href="http://www.ringsurf.com/ring/austinbloggers/">austin bloggers</a></div><a href="http://www.ringsurf.com">Powered By Ringsurf</a></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/24744976-6082596606354637705?l=www.debtfree4ever.net' alt='' /></div> <p><a href="http://feedads.g.doubleclick.net/~a/hSJBHqNICz9D76oV5rsu51nP7Eo/0/da"><img src="http://feedads.g.doubleclick.net/~a/hSJBHqNICz9D76oV5rsu51nP7Eo/0/di" border="0" ismap="true"></img></a><br/> <a href="http://feedads.g.doubleclick.net/~a/hSJBHqNICz9D76oV5rsu51nP7Eo/1/da"><img src="http://feedads.g.doubleclick.net/~a/hSJBHqNICz9D76oV5rsu51nP7Eo/1/di" border="0" ismap="true"></img></a></p><img src="http://feeds.feedburner.com/~r/debtfree4ever/HfZu/~4/nnQb-PVcDFI" height="1" width="1"/>Prince of Thrifthttp://www.blogger.com/profile/07863514672517538661noreply@blogger.com0http://www.debtfree4ever.net/2010/07/university-of-texas-bell-tower.htmltag:blogger.com,1999:blog-24744976.post-88601787233890450272010-07-15T08:18:00.004-05:002010-07-15T08:18:00.442-05:002010-07-15T08:18:00.442-05:00Today's world is one in which resources of all kinds are increasingly drying up. Overpopulation is an issue that we must seriously consider. Although many still follow through with unexpected pregnancies for various reasons, a smart couple would certainly wait until they are financially and emotionally secure to begin one of the most difficult tasks we'll ever have to endure--raising kids. <br /> <br /> Once you have decided that you've reached the point where it would be beneficial and manageable to raise healthy, happy kids, you should also consider carefully what wisdom you want to instill in the future products of your bloodline. One of the most important lessons, in my opinion, is financial responsibility. This is one lesson my parents did not properly teach me, and so I had to learn the hard way--by trial and many, many errors. <br /> <br /> Teaching a lesson successfully, however, always begins by leading by example. People work very much like animals in this respect. As the saying goes, "Monkey see. Monkey do." If your children hear you saying constantly, "Don't spend. Save. Learn the value of a dollar", but they see you spending indiscriminately, then the lesson will not be learned. Actions speak louder than words. <br /> <br /> Another issue that parents-to-be should think about before their children are born is knowing how easy it is to want to spoil your progeny. Especially if you worked hard for your financial security, you'll want to give your kids everything. This impulse, of course, is only natural. Children are perhaps the greatest joys we'll ever experience, and it is a common human tendency to express your love through giving and generosity. To resist this temptation, first recognize the impulse, then know when to bring out the giving you appropriately. Gifts are one thing, but spoiling is completely different. Speak with your partner before the kids come into the picture about future allowances, savings, college expenditures, and other potential money issues. It's never too early to start talking. <br /> <br /> While teaching financial responsibility to the single greatest objects of your love will be inevitably difficult, it's not impossible. Doing it the right way will aid your children in becoming financially responsible, happy adults as well. All it takes is a little planning. <br /> <br /> <br /> <center><br /> <blockquote>This guest post is contributed by Jena Ellis, who writes on the topics of <a href="http://www.onlinecertificateprograms.org/blog/" target="new">Online Certificate Programs</a>. She welcomes your questions and comments at her email Id: jena.ellis20 @gmail.com. </blockquote></center><br /> <br /> <br /> <br /> <b>---<br /> go ahead share your thoughts with me now, my ears are open. I'm always eager to hear what you think. </B> <br /> <hr color=red><a href="https://www.paypal.com/cgi-bin/webscr?cmd=_s-xclick&hosted_button_id=57E97KY7C572E">Sponsor This Post(via PayPal) for $75 and Replace This Text</a>. <hr color=RED><br /> <a href="http://twitter.com/princeOFthrift" target="new">follow me on Twitter</a> <script type="text/javascript"><!-- google_ad_client = "pub-5907948404449484"; /* 125x125, created 2/3/08 */ google_ad_slot = "2280874391"; google_ad_width = 125; google_ad_height = 125; //--> </script> <script type="text/javascript" src="http://pagead2.googlesyndication.com/pagead/show_ads.js"> </script> <hr><div style="text-align: center;" align="center"><div><a href="http://www.ringsurf.com/ring/austinbloggers/">austin bloggers</a></div><a href="http://www.ringsurf.com">Powered By Ringsurf</a></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/24744976-8860178723389045027?l=www.debtfree4ever.net' alt='' /></div> <p><a href="http://feedads.g.doubleclick.net/~a/wrorHoKBIDkvodP5Jw0rfyBs7Mg/0/da"><img src="http://feedads.g.doubleclick.net/~a/wrorHoKBIDkvodP5Jw0rfyBs7Mg/0/di" border="0" ismap="true"></img></a><br/> <a href="http://feedads.g.doubleclick.net/~a/wrorHoKBIDkvodP5Jw0rfyBs7Mg/1/da"><img src="http://feedads.g.doubleclick.net/~a/wrorHoKBIDkvodP5Jw0rfyBs7Mg/1/di" border="0" ismap="true"></img></a></p><img src="http://feeds.feedburner.com/~r/debtfree4ever/HfZu/~4/fQHOxbqO5PE" height="1" width="1"/>Prince of Thrifthttp://www.blogger.com/profile/07863514672517538661noreply@blogger.com1http://www.debtfree4ever.net/2010/07/teaching-children-financial.htmltag:blogger.com,1999:blog-24744976.post-32613845379191726492010-07-10T09:13:00.011-05:002010-07-10T09:13:00.190-05:002010-07-10T09:13:00.190-05:00A few weeks ago, I had my first ever telephone interview. That interview was with Wells Fargo Bank. Unfortunately I didn't get that job. Most likely because they needed someone then (not the end of August). <br /> <br /> That didn't stop me though, I continued putting out feelers. Stepping up the number of applications/resumes being sent out this past week. I had an email from one potential employer through Monster.com on Thursday (7/8/10), wanting to interview me yesterday (7/9). I sent an email back letting them know that I would be in the Austin area soon (to scout out apartments and hopefully jobs before the big move) and asked if it would be possible to meet at that time. Thus far no response. Again, because I am not currently in the Austin area. <br /> <br /> I have also applied with Dell Computers, hoping to get a job with their sales department, selling computers in their inbound-call center. In addition I have applied for jobs at hotels and retail stores. Hoping to land something to better support my family, upon our relocation to that area.<br /> <br /> In the meantime, I have been promised a part-time position with a political campaign. I only need to report to their headquarters when I arrive in August. <br /> <br /> <br /> <br /> <br /> <b>---<br /> go ahead share your thoughts with me now, my ears are open. I'm always eager to hear what you think. </B> <br /> <hr color=red><a href="https://www.paypal.com/cgi-bin/webscr?cmd=_s-xclick&hosted_button_id=57E97KY7C572E">Sponsor This Post(via PayPal) for $75 and Replace This Text</a>. <hr color=RED><br /> <a href="http://twitter.com/princeOFthrift" target="new">follow me on Twitter</a> <script type="text/javascript"><!-- google_ad_client = "pub-5907948404449484"; /* 125x125, created 2/3/08 */ google_ad_slot = "2280874391"; google_ad_width = 125; google_ad_height = 125; //--> </script> <script type="text/javascript" src="http://pagead2.googlesyndication.com/pagead/show_ads.js"> </script> <hr><div style="text-align: center;" align="center"><div><a href="http://www.ringsurf.com/ring/austinbloggers/">austin bloggers</a></div><a href="http://www.ringsurf.com">Powered By Ringsurf</a></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/24744976-3261384537919172649?l=www.debtfree4ever.net' alt='' /></div> <p><a href="http://feedads.g.doubleclick.net/~a/smINHY6tvMggBCSqr2FegRrQOTI/0/da"><img src="http://feedads.g.doubleclick.net/~a/smINHY6tvMggBCSqr2FegRrQOTI/0/di" border="0" ismap="true"></img></a><br/> <a href="http://feedads.g.doubleclick.net/~a/smINHY6tvMggBCSqr2FegRrQOTI/1/da"><img src="http://feedads.g.doubleclick.net/~a/smINHY6tvMggBCSqr2FegRrQOTI/1/di" border="0" ismap="true"></img></a></p><img src="http://feeds.feedburner.com/~r/debtfree4ever/HfZu/~4/lLj6piIu2So" height="1" width="1"/>Prince of Thrifthttp://www.blogger.com/profile/07863514672517538661noreply@blogger.com0http://www.debtfree4ever.net/2010/07/job-interviews-and-hopes.htmltag:blogger.com,1999:blog-24744976.post-28406420865396521282010-07-09T08:42:00.002-05:002010-07-09T08:42:00.494-05:002010-07-09T08:42:00.494-05:00An interesting article was in this mornings New York Times. The articles screams forth, "Biggest Defaulters on Mortgages Are the Rich." According to the article, the majority of homes in foreclosure isn't the poor slobs that lost their job last year and now are losing their hoes to. Instead it is those that are rich. <br /> <br /> <blockquote>Whether it is their residence, a second home or a house bought as an investment, the rich have stopped paying the mortgage at a rate that greatly exceeds the rest of the population.<br /> <br /> More than one in seven homeowners with loans in excess of a million dollars are seriously delinquent, according to data compiled for The New York Times by the real estate analytics firm CoreLogic.<br /> <br /> By contrast, homeowners with less lavish housing are much more likely to keep writing checks to their lender. About one in 12 mortgages below the million-dollar mark is delinquent. <br /> - <a href="http://www.nytimes.com/2010/07/09/business/economy/09rich.html?_r=1&th&emc=th" target="new">New York Times</a><br /> </blockquote><br /> The article suggests that the rich treat their mortgages like any other investment. That is dumping any financially draining properties. <br /> <blockquote>Though it is hard to prove, the CoreLogic data suggest that many of the well-to-do are purposely dumping their financially draining properties, just as they would any sour investment.<br /> <br /> “The rich are different: they are more ruthless,” said Sam Khater, CoreLogic’s senior economist. <br /> - <a href="http://www.nytimes.com/2010/07/09/business/economy/09rich.html?_r=1&th&emc=th" target="new">New York Times</a><br /> </blockquote><br /> <b>---<br /> go ahead share your thoughts with me now, my ears are open. I'm always eager to hear what you think. </B> <br /> <hr color=red><a href="https://www.paypal.com/cgi-bin/webscr?cmd=_s-xclick&hosted_button_id=57E97KY7C572E">Sponsor This Post(via PayPal) for $75 and Replace This Text</a>. <hr color=RED><br /> <a href="http://twitter.com/princeOFthrift" target="new">follow me on Twitter</a> <script type="text/javascript"><!-- google_ad_client = "pub-5907948404449484"; /* 125x125, created 2/3/08 */ google_ad_slot = "2280874391"; google_ad_width = 125; google_ad_height = 125; //--> </script> <script type="text/javascript" src="http://pagead2.googlesyndication.com/pagead/show_ads.js"> </script> <hr><div style="text-align: center;" align="center"><div><a href="http://www.ringsurf.com/ring/austinbloggers/">austin bloggers</a></div><a href="http://www.ringsurf.com">Powered By Ringsurf</a></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/24744976-2840642086539652128?l=www.debtfree4ever.net' alt='' /></div> <p><a href="http://feedads.g.doubleclick.net/~a/L1uVaGYy8s-Xl8MBMY550XdrCwM/0/da"><img src="http://feedads.g.doubleclick.net/~a/L1uVaGYy8s-Xl8MBMY550XdrCwM/0/di" border="0" ismap="true"></img></a><br/> <a href="http://feedads.g.doubleclick.net/~a/L1uVaGYy8s-Xl8MBMY550XdrCwM/1/da"><img src="http://feedads.g.doubleclick.net/~a/L1uVaGYy8s-Xl8MBMY550XdrCwM/1/di" border="0" ismap="true"></img></a></p><img src="http://feeds.feedburner.com/~r/debtfree4ever/HfZu/~4/VVfRYZd4p5w" height="1" width="1"/>Prince of Thrifthttp://www.blogger.com/profile/07863514672517538661noreply@blogger.com1http://www.debtfree4ever.net/2010/07/who-defaults-on-mortgages-most.htmltag:blogger.com,1999:blog-24744976.post-32073563264360046802010-07-07T09:15:00.003-05:002010-07-09T19:23:45.592-05:002010-07-09T19:23:45.592-05:00<blockquote>The U.S. Federal Deposit Insurance Corporation said that the number of banks on its confidential “problem” list increased to 775 in the first quarter of this year, a nearly 10% increase over the previous quarter. But Chairman Sheila Bair noted that “the trends [in the industry generally] continue to move in the right direction.”</blockquote><br /> If the list is getting bigger, how in the world can "the trends continue to move in the right direction?" The good news, is that no banks were seized or otherwise failed over the holiday weekend. Are the Feds wanting more banks to collapse? Anyway, below is a list of banks that <a href="http://www.moneyeconomics.com/Saving-Rates/2010-Q2-Watch-List-on-FDIC-Insured-Banks-at-Very-High-Risk-of-Failing-UPDATED" target="new">MoneyEconomics.com</a> believes to be on the current quarters watch list. <br /> <table align="center" border="1" cellpadding="1" cellspacing="1"><tbody> <tr> <td bgcolor="#cccccc" width="23%"><b>Bank Name </b></td> <td bgcolor="#cccccc" width="20%"><b>Location</b></td> <td bgcolor="#cccccc" width="22%"><b>Notes</b></td> </tr> <tr> <td>Advanta Bank</td> <td>Wilmington, DE</td> <td>-</td> </tr> <tr> <td>First National Bank</td> <td>Rosedale, MS</td> <td>Failed on 6/4/10</td> </tr> <tr> <td>MidFirst Bank</td> <td>Oklahoma City, OK</td> <td>-</td> </tr> <tr> <td>Arcola Homestead Savings Bank</td> <td>Arcola, IL</td> <td>Failed on 6/4/10</td> </tr> <tr> <td>Ravenswood Bank</td> <td>Chicago, IL</td> <td>-</td> </tr> <tr> <td>CF Bancorp</td> <td>Port Huron, MI</td> <td>Failed on 4/30/10</td> </tr> <tr> <td>American Patriot Bank</td> <td>Greeneville, TN</td> <td>-</td> </tr> <tr> <td>Southwest Community Bank</td> <td>Springfield, MO</td> <td>Failed on 5/14/10</td> </tr> <tr> <td>Pisgah Community Bank</td> <td>Asheville, NC</td> <td>-</td> </tr> <tr> <td>State Central Bank</td> <td>Keokuk, IA</td> <td>-</td> </tr> <tr> <td>Citizens Bank and Trust Company of Chicago</td> <td>Chicago, IL</td> <td>Failed on 4/23/10</td> </tr> <tr> <td>Champion Bank</td> <td>Creve Coeur, MO</td> <td>Failed on 4/30/10</td> </tr> <tr> <td>Imperial Savings and Loan Association</td> <td>Martinsville, VA</td> <td>-</td> </tr> <tr> <td>SouthwestUSA Bank</td> <td>Las Vegas, NV</td> <td>-</td> </tr> <tr> <td>Bank of Florida - Southwest</td> <td>Naples, FL</td> <td>Failed on 5/28/10</td> </tr> <tr> <td>Appalachian Community Bank, F.S.B.</td> <td>Mc Caysville, GA</td> <td>-</td> </tr> <tr> <td>Beach First National Bank</td> <td>Myrtle Beach, SC</td> <td>Failed on 4/9/10</td> </tr> <tr> <td>New Century Bank</td> <td>Chicago, IL</td> <td>Failed on 4/23/10</td> </tr> <tr> <td>Access Bank</td> <td>Champlin, MN</td> <td>Failed on 5/7/10</td> </tr> <tr> <td>Sunrise Bank of Atlanta</td> <td>Atlanta, GA</td> <td>-</td> </tr> <tr> <td>Towne Bank of Arizona</td> <td>Mesa, AZ</td> <td>Failed on 5/7/10</td> </tr> <tr> <td>ISN Bank</td> <td>Cherry Hill, NJ</td> <td>-</td> </tr> <tr> <td>New Liberty Bank</td> <td>Plymouth, MI</td> <td>Failed on 5/14/10</td> </tr> <tr> <td>Sterling Bank</td> <td>Lantana, FL</td> <td>-</td> </tr> <tr> <td>1st Commerce Bank</td> <td>North Las Vegas, NV</td> <td>-</td> </tr> <tr> <td>Lakeside Community Bank</td> <td>Sterling Heights, MI</td> <td>Failed on 4/16/10</td> </tr> <tr> <td>Wheatland Bank</td> <td>Naperville, IL</td> <td>Failed on 4/23/10</td> </tr> <tr> <td>Bank of Ellijay</td> <td>Ellijay, GA</td> <td>-</td> </tr> <tr> <td>Butler Bank</td> <td>Lowell, MA</td> <td>Failed on 4/16/10</td> </tr> <tr> <td>Pinehurst Bank</td> <td>Saint Paul, MN</td> <td>Failed on 5/21/10</td> </tr> <tr> <td>Peotone Bank and Trust Company</td> <td>Peotone, IL</td> <td>Failed on 4/23/10</td> </tr> <tr> <td>Satilla Community Bank</td> <td>Saint Marys, GA</td> <td>Failed on 5/14/10</td> </tr> <tr> <td>City Bank</td> <td>Lynnwood, WA</td> <td>Failed on 4/16/10</td> </tr> <tr> <td>Williamsburg First National Bank</td> <td>Kingstree, SC</td> <td>-</td> </tr> <tr> <td>Bank of Florida - Tampa Bay</td> <td>Tampa, FL</td> <td>Failed on 5/28/10</td> </tr> <tr> <td>AmericanFirst Bank</td> <td>Clermont, FL</td> <td>Failed on 4/16/10</td> </tr> <tr> <td>First National Bank</td> <td>Savannah, GA</td> <td>Failed on 6/25/10</td> </tr> <tr> <td>Sun West Bank</td> <td>Las Vegas, NV</td> <td>Failed on 5/28/10</td> </tr> <tr> <td>Mainstreet Savings Bank, FSB</td> <td>Hastings, MI</td> <td>-</td> </tr> <tr> <td>Bank of Las Vegas</td> <td>Las Vegas, NV</td> <td>-</td> </tr> <tr> <td>Metro Bank of Dade County</td> <td>Miami, FL</td> <td>-</td> </tr> <tr> <td>Frontier Bank</td> <td>Everett, WA</td> <td>Failed on 4/30/10</td> </tr> <tr> <td>The Bank of Bonifay</td> <td>Bonifay, FL</td> <td>Failed on 5/7/10</td> </tr> <tr> <td>Bayside Savings Bank</td> <td>Port Saint Joe, FL</td> <td>-</td> </tr> <tr> <td>Westbridge Bank and Trust</td> <td>Chesterfield, MO</td> <td>-</td> </tr> <tr> <td>Bank of Florida - Southeast</td> <td>Fort Lauderdale, FL</td> <td>Failed on 5/28/10</td> </tr> <tr> <td>BC National Banks</td> <td>Butler, MO</td> <td>Failed on 4/30/10</td> </tr> <tr> <td>Blue Ridge Savings Bank, Inc.</td> <td>Asheville, NC </td> <td>-</td> </tr> <tr> <td>High Trust Bank</td> <td>Stockbridge, GA</td> <td>-</td> </tr> <tr> <td>Western Springs National Bank and Trust</td> <td>Western Springs, IL</td> <td>-</td> </tr> <tr> <td>First Vietnamese American Bank</td> <td>Westminster, CA</td> <td>-</td> </tr> <tr> <td>R-G Premier Bank of Puerto Rico</td> <td>Hato Rey, PR</td> <td>Failed on 4/30/10</td> </tr> <tr> <td>Bramble Savings Bank</td> <td>Westminster, CA</td> <td>-</td> </tr> <tr> <td>Triad Bank, National Association</td> <td>Tulsa, OK</td> <td>-</td> </tr> <tr> <td>ShoreBank</td> <td>Chicago, IL</td> <td>-</td> </tr> <tr> <td>SUNRISE BANK OF ARIZONA</td> <td>Phoenix, AZ</td> <td>-</td> </tr> <tr> <td>USA Bank</td> <td>Port Chester, NY</td> <td>Failed on 7/9/10</td> </tr> <tr> <td>First Federal Bank of North Florida</td> <td>Palatka, FL</td> <td>Failed on 4/16/10</td> </tr> <tr> <td>Oglethorpe Bank</td> <td>Brunswick, GA</td> <td>-</td> </tr> <tr> <td>Midwest Bank and Trust Company</td> <td>Elmwood Park, IL</td> <td>Failed on 5/14/10</td> </tr> <tr> <td>Broadway Bank</td> <td>Chicago, IL</td> <td>Failed on 4/23/10</td> </tr> <tr> <td>Roxbury Bank</td> <td>Roxbury, KS</td> <td>-</td> </tr> <tr> <td>Midwest Community Bank</td> <td>Plainville, KS</td> <td>-</td> </tr> <tr> <td>Lincoln Park Savings Bank</td> <td>Chicago, IL</td> <td>Failed on 4/23/10</td> </tr> <tr> <td>Earthstar Bank</td> <td>Southampton, PA</td> <td>-</td> </tr> <tr> <td>Crescent Bank and Trust Company</td> <td>Jasper, GA</td> <td>-</td> </tr> <tr> <td>>Woodlands Bank</td> <td>Bluffton, SC</td> <td>-</td> </tr> <tr> <td>Horizon Bank</td> <td>Bradenton, FL</td> <td>-</td> </tr> <tr> <td>Peninsula Bank</td> <td>Englewood, FL</td> <td>Failed on 6/25/10</td> </tr> <tr> <td>Washington First International Bank</td> <td>Seattle, WA</td> <td>Failed on 6/11/10</td> </tr> <tr> <td>Riverside National Bank of Florida</td> <td>Fort Pierce, FL</td> <td>Failed on 4/16/10</td> </tr> <tr> <td>Premier Bank</td> <td>Jefferson City, MO</td> <td>-</td> </tr> <tr> <td>McIntosh State Bank</td> <td>ackson, GA</td> <td>-</td> </tr> <tr> <td>Putnam State Bank</td> <td>Palatka, FL</td> <td>-</td> </tr> <tr> <td>First Central Savings Bank</td> <td>Glen Cove, NY</td> <td>-</td> </tr> <tr> <td>Michigan Commerce Bank</td> <td>Ann Arbor, MI</td> <td>-</td> </tr> <tr> <td>Fort Lee Federal Savings Bank, FSB</td> <td>Fort Lee, NJ</td> <td>-</td> </tr> <tr> <td>Hillcrest Bank</td> <td>Overland Park, KS</td> <td>-</td> </tr> <tr> <td>First Suburban National Bank</td> <td>Maywood, IL</td> <td>-</td> </tr> <tr> <td>Ideal Federal Savings Bank</td> <td>Baltimore, MD</td> <td>Failed on 7/9/10</td> </tr> <tr> <td>Tifton Banking Company</td> <td>Tifton, GA </td> <td>-</td> </tr> <tr> <td>American Trust Bank</td> <td>Roswell, GA</td> <td>-</td> </tr> <tr> <td>Community Security Bank</td> <td>New Prague, MN</td> <td>-</td> </tr> <tr> <td>Copper Star Bank</td> <td>Scottsdale, AZ</td> <td>-</td> </tr> <tr> <td>Security Exchange Bank</td> <td>Marietta, GA</td> <td>-</td> </tr> <tr> <td>Community National Bank of Bartow</td> <td>Bartow, FL</td> <td>-</td> </tr> <tr> <td>Jefferson Bank</td> <td>Dallas, TX</td> <td>-</td> </tr> <tr> <td>OptimumBank</td> <td>Plantation, FL</td> <td>-</td> </tr> <tr> <td>Sunshine State Community Bank</td> <td>Port Orange, FL</td> <td>-</td> </tr> <tr> <td>Gulf State Community Bank</td> <td>Carrabelle, FL </td> <td>-</td> </tr> <tr> <td>Hometown Community Bank</td> <td>Braselton, GA</td> <td>-</td> </tr> <tr> <td>Sonoma Valley Bank</td> <td>Sonoma, CA</td> <td>-</td> </tr> <tr> <td>K Bank</td> <td>Randallstown, MD</td> <td>-</td> </tr> <tr> <td>Chelten Hills Savings Bank</td> <td>Abington, PA </td> <td>-</td> </tr> <tr> <td>Badger State Bank</td> <td>Cassville, WI</td> <td>-</td> </tr> <tr> <td>Paramount Bank</td> <td>Farmington Hills, MI</td> <td>-</td> </tr> <tr> <td>Independence Federal Savings Bank</td> <td>Washington, DC</td> <td>-</td> </tr> <tr> <td>North Georgia Bank</td> <td>Watkinsville, GA</td> <td>-</td> </tr> <tr> <td>Family Federal Savings of Illinois</td> <td>Cicero, IL</td> <td>-</td> </tr> <tr> <td>Bay National Bank</td> <td>Baltimore, MD</td> <td>Failed on 7/9/10</td> </tr> <tr> <td>Old Harbor Bank</td> <td>Clearwater, FL</td> <td>-</td> </tr> <tr> <td>High Desert State Bank</td> <td>Albuquerque, NM</td> &lt; <td>Failed on 6/25/10</td> </tr> <tr> <td>First City Bank of Florida</td> <td>Fort Walton Beac, FL</td> <td>-</td> </tr> <tr> <td>Bank of Granite</td> <td>Granite Falls, NC</td> <td>-</td> </tr> <tr> <td>Olde Cypress Community Bank</td> <td>Clewiston, FL</td> <td>-</td> </tr> <tr> <td>Northwest Bank & Trust</td> <td>Acworth, GA</td> <td>-</td> </tr> <tr> <td>Community Bank of Rockmart</td> <td>Rockmart, GA</td> <td>-</td> </tr> <tr> <td>Haven Trust Bank Florida</td> <td>Ponte Vedra Beac, FL</td> <td>-</td> </tr> <tr> <td>Town North Bank, N. A.</td> <td>Dallas, TX</td> <td>-</td> </tr> <tr> <td>Eurobank</td> <td>San Juan, PR</td> <td>Failed on 4/30/10</td> </tr> <tr> <td>Amcore Bank, National Association</td> <td>Rockford, IL</td> <td>Failed on 4/23/10</td> </tr> <tr> <td>Independent National Bank</td> <td>Ocala, FL</td> <td>-</td> </tr> <tr> <td>Citizens Bank of Effingham</td> <td>Springfield, GA</td> <td>-</td> </tr> <tr> <td>United Americas Bank, National Association</td> <td>Atlanta, GA</td> <td>-</td> </tr> <tr> <td>First National Bank of the South</td> <td>Spartanburg, SC</td> <td>-</td> </tr> <tr> <td>Palm Desert National Bank</td> <td>Palm Desert, CA</td> <td>-</td> </tr> <tr> <td>Texas Coastal Bank</td> <td>Pasadena, TX</td> <td>-</td> </tr> <tr> <td>Plantation Federal Bank</td> <td>Pawleys Island, SC</td> <td>-</td> </tr> <tr> <td>1st Pacific Bank of California</td> <td>San Diego, CA </td> <td>Failed on 5/7/10</td> </tr> <tr> <td>Turnberry Bank</td> <td>Aventura, FL </td> <td>-</td> </tr> <tr> <td>First Guaranty Bank and Trust Company of Jacksonville</td> <td>Jacksonville, FL</td> <td>-</td> </tr> <tr> <td>Nevada Security Bank</td> <td>Reno, NV</td> <td>Failed on 6/18/10</td> </tr> <tr> <td>Darby Bank & Trust Co.</td> <td>Vidalia, GA</td> <td>-</td> </tr> <tr> <td>Farmers & Merchants Bank</td> <td>Lakeland, GA</td> <td>-</td> </tr> <tr> <td>Capitol City Bank & Trust Company</td> <td>Atlanta, GA</td> <td>-</td> </tr> <tr> <td>Peoples State Bank</td> <td>Hamtramck, MI</td> <td>-</td> </tr> <tr> <td>Palos Bank and Trust Company</td> <td>Palos Heights, IL</td> <td>-</td> </tr> <tr> <td>Western Community Bank</td> <td>Orem, UT</td> <td>-</td> </tr> <tr> <td>Tamalpais Bank</td> <td>San Rafael, CA</td> <td>Failed on 4/16/10</td> </tr> <tr> <td>Westernbank Puerto Rico</td> <td>Mayaguez, PR</td> <td>Failed on 4/30/10</td> </tr> <tr> <td>Ventura County Business Bank</td> <td>Oxnard, CA</td> <td>-</td> </tr> <tr> <td>Polk County Bank</td> <td>Johnston, IA</td> <td>-</td> </tr> <tr> <td>First Sound Bank</td> <td>Seattle, WA</td> <td>-</td> </tr> <tr> <td>FirsTier Bank</td> <td>Louisville, CO</td> <td>-</td> </tr> <tr> <td>North County Bank</td> <td>Arlington, WA</td> <td>-</td> </tr> <tr> <td>Second Federal Savings and Loan Association of Chicago</td> <td>Chicago, IL</td> <td>-</td> </tr> <tr> <td>Enterprise Banking Company</td> <td>Mcdonough, GA</td> <td>-</td> </tr> <tr> <td>San Luis Trust Bank, FSB</td> <td>San Luis Obispo, CA</td> <td>-</td> </tr> <tr> <td>Rocky Mountain Bank & Trust Florence</td> <td>Florence, CO</td> <td>-</td> </tr> <tr> <td>First Federal Savings and Loan Association of Hammond</td> <td>Hammond, IN</td> <td>-</td> </tr> <tr> <td>State Bank of Cokato</td> <td>Cokato, MN</td> <td>-</td> </tr> <tr> <td>Coastal Community Bank</td> <td>Panama City Beac, FL</td> <td>-</td> </tr> <tr> <td>CommunitySouth Bank and Trust</td> <td>Easley, SC</td> <td>-</td> </tr> <tr> <td>Southern Commerce Bank, National Association</td> <td>Tampa, FL</td> <td>-</td> </tr> <tr> <td>The Peoples Bank</td> <td>Winder, GA</td> <td>-</td> </tr> <tr> <td>First Bank of Jacksonville</td> <td>Jacksonville, FL</td> <td>-</td> </tr> <tr> <td>Business Bank</td> <td>Burlington, WA</td> <td>-</td> </tr> <tr> <td>Western Commercial Bank</td> <td>Woodland Hills, CA</td> <td>-</td> </tr> <tr> <td>Freedom Bank</td> <td>Columbia Falls, MT</td> <td>-</td> </tr> <tr> <td>Bank of the Eastern Shore></td> <td>Cambridge, MD</td> <td>-</td> </tr> <tr> <td>Security Savings Bank, F.S.B.</td> <td>Olathe, KS</td> <td>-</td> </tr> <tr> <td>Americana Community Bank</td> <td>Sleepy Eye, MN</td> <td>-</td> </tr> <tr> <td>The Four County Bank</td> <td>Allentown, GA</td> <td>-</td> </tr> <tr> <td>Butte Community Bank</td> <td>Chico, CA</td> <td>-</td> </tr> <tr> <td>Shoreline Bank</td> <td>Shoreline, WA</td> <td>-</td> </tr> <tr> <td>Talbot State Bank</td> <td>Fayetteville, GA</td> <td>-</td> </tr> <tr> <td>Coastal Bank</td> <td>Merritt Island, FL</td> <td>-</td> </tr> <tr> <td>Mountain Heritage Bank</td> <td>Clayton, GA</td> <td>-</td> </tr> <tr> <td>Premier Bank Minnesota</td> <td>Farmington, MN</td> <td>-</td> </tr> <tr> <td>Habersham Bank</td> <td>Clarkesville, GA</td> <td>-</td> </tr> <tr> <td>Thunder Bank</td> <td>Sylvan Grove, KS</td> <td>-</td> </tr> <tr> <td>Albina Community Bank</td> <td>Portland, OR</td> <td>-</td> </tr> <tr> <td>Oxford Bank</td> <td>Oxford, MI </td> <td>-</td> </tr> <tr> <td>Progress Bank of Florida</td> <td>Tampa, FL</td> <td>-</td> </tr> <tr> <td>TierOne Bank</td> <td>Lincoln, NE</td> <td>Failed on 6/4/10</td> </tr> <tr> <td>Inter Savings Bank, fsb D/B/A Interbank, fsb</td> <td>Maple Grove, MN</td> <td>-</td> </tr> <tr> <td>Community Bank and Trust - West Georgia</td> <td>Lagrange, GA</td> <td>-</td> </tr> <tr> <td>Home National Bank</td> <td>Blackwell, OK</td> <td>Failed on 7/9/10</td> </tr> <tr> <td>Liberty Bank, Inc.</td> <td>Salt Lake City, UT</td> <td>-</td> </tr> <tr> <td>Eastside Commercial Bank, National Association</td> <td>Bellevue, WA</td> <td>-</td> </tr> <tr> <td>Century Bank</td> <td>Parma, OH</td> <td>-</td> </tr> <tr> <td>Pilsen State Bank, Lincolnville, Kansas</td> <td>Lincolnville, KS</td> <td>-</td> </tr> <tr> <td>Clarkston State Bank</td> <td>Clarkston, MI</td> <td>-</td> </tr> <tr> <td>Rosemount National Bank</td> <td>Rosemount, MN</td> <td>-</td> </tr> <tr> <td>Nexity Bank</td> <td>Birmingham, AL</td> <td>-</td> </tr> <tr> <td>Farmers State Bank</td> <td>Lumpkin, GA</td> <td>-</td> </tr> <tr> <td>First Federal Savings and Loan Association of Pekin</td> <td>Pekin, IL</td> <td>-</td> </tr> <tr> <td>AztecAmerica Bank</td> <td>Berwyn, IL</td> <td>-</td> </tr> <tr> <td>Bank of Jackson County</td> <td>Graceville, FL</td> <td>-</td> </tr> <tr> <td>AnchorBank, fsb</td> <td>Madison, WI</td> <td>-</td> </tr> <tr> <td>First Bank</td> <td>West Des Moines, IA</td> <td>-</td> </tr> <tr> <td>The First State Bank</td> <td>Stockbridge, GA</td> <td>-</td> </tr> <tr> <td>HarVest Bank of Maryland</td> <td>Rockville, MD</td> <td>-</td> </tr> <tr> <td>Wakulla Bank</td> <td>Crawfordville, FL</td> <td>-</td> </tr> <tr> <td>The First National Bank of Barnesville</td> <td>Barnesville, GA</td> <td>-</td> </tr> <tr> <td>Superior Bank</td> <td>Hazelwood, MO</td> <td>-</td> </tr> <tr> <td>The First National Bank of Olathe</td> <td>Olathe, KS</td> <td>-</td> </tr> <tr> <td>Innovative Bank</td> <td>Oakland, CA</td> <td>Failed on 4/16/10</td> </tr> <tr> <td>The Bank of Commerce</td> <td>Wood Dale, IL</td> <td>-</td> </tr> <tr> <td>Pacific State Bank</td> <td>Stockton, CA</td> <td>-</td> </tr> <tr> <td>Maritime Savings Bank</td> <td>West Allis, WI</td> <td>-</td> </tr> <tr> <td>First Cherokee State Bank</td> <td>Woodstock, GA</td> <td>-</td> </tr> <tr> <td>The Cowlitz Bank</td> <td>Longview, WA</td> <td>-</td> </tr> <tr> <td>Prosper Bank</td> <td>Prosper, TX</td> <td>-</td> </tr> <tr> <td>PlantersFIRST</td> <td>Cordele, GA</td> <td>-</td> </tr> <tr> <td>FirstSecure Bank and Trust Co.</td> <td>Palos Hills, IL</td> <td>-</td> </tr> <tr> <td>First National Bank of Crestview</td> <td>Crestview, FL</td> <td>-</td> </tr> <tr> <td>Granite Community Bank, N.A.</td> <td>Granite Bay, CA</td> <td>Failed on 5/28/10</td> </tr> <tr> <td>EverBank</td> <td>Jacksonville, FL</td> <td>-</td> </tr> <tr> <td>Community Central Bank</td> <td>Mount Clemens, MI</td> <td>-</td> </tr> <tr> <td>First Commerce Community Bank</td> <td>Douglasville, GA</td> <td>-</td> </tr> <tr> <td>>Colombo Bank</td> <td>Rockville, MD</td> <td>-</td> </tr> <tr> <td>Gunnison Valley Bank</td> <td>Gunnison, UT</td> <td>-</td> </tr> <tr> <td>Central Bank of Georgia</td> <td>Ellaville, GA</td> <td>-</td> </tr> <tr> <td>EvaBank</td> <td>Eva, AL</td> &lt; <td>-</td> </tr> <tr> <td>First Georgia Banking Company</td> <td>Franklin, GA</td> <td>-</td> </tr> <tr> <td>Integra Bank National Association</td> <td>Evansville, IN </td> <td>-</td> </tr> <tr> <td>Community Federal Savings Bank</td> <td>Woodhaven, NY</td> <td>-</td> </tr> <tr> <td>Allegiance Bank of North America</td> <td>Bala Cynwyd, PA</td> <td>-</td> </tr> <tr> <td>SUNRISE BANK OF ALBUQUERQUE</td> <td>Albuquerque, NM</td> <td>-</td> </tr> <tr> <td>AmericanWest Bank</td> <td>Spokane, WA</td> <td>-</td> </tr> <tr> <td>SunBank, National Association</td> <td>Phoenix, AZ</td> <td>-</td> </tr> <tr> <td>Los Padres Bank</td> <td>Solvang, CA</td> <td>-</td> </tr> <tr> <td>Central Pacific Bank</td> <td>Honolulu, HI </td> <td>-</td> </tr> <tr> <td>The Farmers Bank</td> <td>Lincoln, NE</td> <td>-</td> </tr> <tr> <td>Heritage Banking Group</td> <td>Carthage, MS</td> <td>-</td> </tr> <tr> <td>Easton Bank & Trust</td> <td>Easton, MD </td> <td>-</td> </tr> <tr> <td>Sterling Savings Bank</td> <td>Spokane, WA</td> <td>-</td> </tr> <tr> <td>Citizens National Bank of Springfield</td> <td>Springfield, MO</td> <td>-</td> </tr> </tbody> </table><br /> <br /> <br /> <br /> <b>---<br /> go ahead share your thoughts with me now, my ears are open. I'm always eager to hear what you think. </b> <br /> <hr color="red" /><a href="https://www.paypal.com/cgi-bin/webscr?cmd=_s-xclick&amp;hosted_button_id=57E97KY7C572E">Sponsor This Post(via PayPal) for $75 and Replace This Text</a>. <br /> <hr color="RED" /><br /> <a href="http://twitter.com/princeOFthrift" target="new">follow me on Twitter</a> <script type="text/javascript"> <!-- google_ad_client = "pub-5907948404449484"; /* 125x125, created 2/3/08 */ google_ad_slot = "2280874391"; google_ad_width = 125; google_ad_height = 125; //--> </script> <script src="http://pagead2.googlesyndication.com/pagead/show_ads.js" type="text/javascript"> </script> <br /> <hr /><div align="center" style="text-align: center;"><div><a href="http://www.ringsurf.com/ring/austinbloggers/">austin bloggers</a></div><a href="http://www.ringsurf.com/">Powered By Ringsurf</a></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/24744976-3207356326436004680?l=www.debtfree4ever.net' alt='' /></div> <p><a href="http://feedads.g.doubleclick.net/~a/3srn2rVqglENDmRqLub3PwmITDY/0/da"><img src="http://feedads.g.doubleclick.net/~a/3srn2rVqglENDmRqLub3PwmITDY/0/di" border="0" ismap="true"></img></a><br/> <a href="http://feedads.g.doubleclick.net/~a/3srn2rVqglENDmRqLub3PwmITDY/1/da"><img src="http://feedads.g.doubleclick.net/~a/3srn2rVqglENDmRqLub3PwmITDY/1/di" border="0" ismap="true"></img></a></p><img src="http://feeds.feedburner.com/~r/debtfree4ever/HfZu/~4/tiSkxLC0ngk" height="1" width="1"/>Prince of Thrifthttp://www.blogger.com/profile/07863514672517538661noreply@blogger.com1http://www.debtfree4ever.net/2010/07/fdic-bank-watchlist-grows.htmltag:blogger.com,1999:blog-24744976.post-3960917214184507262010-07-04T10:29:00.007-05:002010-07-04T10:29:00.371-05:002010-07-04T10:29:00.371-05:00Today is the 4th of July. Independence Day. The birthday of America. I can truly say that next to Christmas, this is my favorite holiday. Why? Because, I am proud to be an American. I may not agree with the politics. May not even care for all of our elected officials, but I am still proud to be an American. <br /> <br /> A land where we have so many freedoms, that other countries only dream of having. Now if you will, please remove your hats, put your hand over your heart, watch this video and then leave a comment. <br /> <br /> <object width="400" height="305"><param name="movie" value="http://www.youtube.com/v/yb_yVxDyB9s&amp;hl=en_US&amp;fs=1"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/yb_yVxDyB9s&amp;hl=en_US&amp;fs=1" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="400" height="305"></embed></object><br /> <b>---<br /> go ahead share your thoughts with me now, my ears are open. I'm always eager to hear what you think. </B> <br /> <hr color=red><a href="https://www.paypal.com/cgi-bin/webscr?cmd=_s-xclick&hosted_button_id=57E97KY7C572E">Sponsor This Post(via PayPal) for $75 and Replace This Text</a>. <hr color=RED><br /> <a href="http://twitter.com/princeOFthrift" target="new">follow me on Twitter</a> <script type="text/javascript"><!-- google_ad_client = "pub-5907948404449484"; /* 125x125, created 2/3/08 */ google_ad_slot = "2280874391"; google_ad_width = 125; google_ad_height = 125; //--> </script> <script type="text/javascript" src="http://pagead2.googlesyndication.com/pagead/show_ads.js"> </script> <hr><div style="text-align: center;" align="center"><div><a href="http://www.ringsurf.com/ring/austinbloggers/">austin bloggers</a></div><a href="http://www.ringsurf.com">Powered By Ringsurf</a></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/24744976-396091721418450726?l=www.debtfree4ever.net' alt='' /></div> <p><a href="http://feedads.g.doubleclick.net/~a/3AJVAN1qyk7weT4I7bsPyDZOZws/0/da"><img src="http://feedads.g.doubleclick.net/~a/3AJVAN1qyk7weT4I7bsPyDZOZws/0/di" border="0" ismap="true"></img></a><br/> <a href="http://feedads.g.doubleclick.net/~a/3AJVAN1qyk7weT4I7bsPyDZOZws/1/da"><img src="http://feedads.g.doubleclick.net/~a/3AJVAN1qyk7weT4I7bsPyDZOZws/1/di" border="0" ismap="true"></img></a></p><img src="http://feeds.feedburner.com/~r/debtfree4ever/HfZu/~4/2sV-0_AzTdo" height="1" width="1"/>Prince of Thrifthttp://www.blogger.com/profile/07863514672517538661noreply@blogger.com0http://www.debtfree4ever.net/2010/07/happy-birthday-america.htmltag:blogger.com,1999:blog-24744976.post-62506234810956820752010-07-03T09:25:00.002-05:002010-07-03T09:25:00.048-05:002010-07-03T09:25:00.048-05:00I am beginning to get worried about my savings and the upcoming expenses. With only $700 in savings at the moment and a number of expenses beginning to come due, I am really worried. I have 3 more paychecks before, the wedding. <br /> <br /> The next big expense, is my trip to Austin August 14 to secure an apartment and hopefully have a couple of job interviews. I have already paid for the airline ticket, so that isn't a problem and I am staying with my fiances son (and his girlfriend), so I won't have the expense of a hotel. I have $700 in savings at the moment, with the following expenses yet to come. <br /> <br /> <li> Wedding Dress (back from alteration/cleaning) $200<br /> <li> Tux Rentals (for the wedding party) $365<br /> <li> Flowers $200<br /> <li> Cake (last installment) $45<br /> <li> Music/Sound (last installment) $125<br /> <li> Movers (U-haul, friends gas, etc, flight back) $1235<br /> <li> Apartment (estimate to secure) $1200-$1600<br /> <li> Honeymoon Hotels $500<br /> <li> Travel expenses (Food, Gas, etc) $300<br /> ----------------<br /> Grand Total $4170-$4570<br /> <br /> If I could get more sponsors to step up and sponsor a post (for $75) I would only need 61 posts sponsored to have all the expenses covered. I also have three (3) more paychecks to cover these expenses, but after food (and such) that would leave only $500 out of each of those (which means electricity, heat and such won't be paid, but I leave town in August anyway). Which means, I would only need to come up with an extra $1970-$2370. Which also means I would only need to have 32 posts sponsored (at $75/post) or get 48 sponsors to place a sponsor link ($50) on this blog or the <a href="http://www.princeofthrift.com" target="new">PrinceOfThrift.com</a> website. <br /> <br /> As most readers should know, I tend to be an optimist, and I believe in the end it will all come together and it will happen, but right now my faith is truly being tested. Any thoughts?<br /> <BR><br /> <BR><br /> Also, if anyone knows how I can do a live video feed on the blog (and then save the video for those that want to watch later) please let me know. I would like to stream the wedding here on the blog. I can't afford to buy any software programs, so it would have to be free. Any thoughts?<br /> <br /> <br /> <br /> <br /> <br /> <b>---<br /> go ahead share your thoughts with me now, my ears are open. I'm always eager to hear what you think. </B> <br /> <hr color=red><a href="https://www.paypal.com/cgi-bin/webscr?cmd=_s-xclick&hosted_button_id=57E97KY7C572E">Sponsor This Post(via PayPal) for $75 and Replace This Text</a>. <hr color=RED><br /> <a href="http://twitter.com/princeOFthrift" target="new">follow me on Twitter</a> <script type="text/javascript"><!-- google_ad_client = "pub-5907948404449484"; /* 125x125, created 2/3/08 */ google_ad_slot = "2280874391"; google_ad_width = 125; google_ad_height = 125; //--> </script> <script type="text/javascript" src="http://pagead2.googlesyndication.com/pagead/show_ads.js"> </script> <hr><div style="text-align: center;" align="center"><div><a href="http://www.ringsurf.com/ring/austinbloggers/">austin bloggers</a></div><a href="http://www.ringsurf.com">Powered By Ringsurf</a></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/24744976-6250623481095682075?l=www.debtfree4ever.net' alt='' /></div> <p><a href="http://feedads.g.doubleclick.net/~a/S4uUw86jk4UmR-NkWZm7pPnNQEA/0/da"><img src="http://feedads.g.doubleclick.net/~a/S4uUw86jk4UmR-NkWZm7pPnNQEA/0/di" border="0" ismap="true"></img></a><br/> <a href="http://feedads.g.doubleclick.net/~a/S4uUw86jk4UmR-NkWZm7pPnNQEA/1/da"><img src="http://feedads.g.doubleclick.net/~a/S4uUw86jk4UmR-NkWZm7pPnNQEA/1/di" border="0" ismap="true"></img></a></p><img src="http://feeds.feedburner.com/~r/debtfree4ever/HfZu/~4/ddbNpCQqRBc" height="1" width="1"/>Prince of Thrifthttp://www.blogger.com/profile/07863514672517538661noreply@blogger.com11http://www.debtfree4ever.net/2010/07/worries-of-upcoming-expenses.htmltag:blogger.com,1999:blog-24744976.post-38709901417220931932010-06-27T10:10:00.001-05:002010-06-27T10:10:00.081-05:002010-06-27T10:10:00.081-05:00Congress is one step closer to a banking overhaul bill. Both houses of Congress are set to vote next week.<br /> <br /> <blockquote>WASHINGTON -- Nearly two years after the American financial<br /> system teetered on the verge of collapse, congressional<br /> negotiators reached agreement early Friday morning to<br /> reconcile competing versions of the biggest overhaul of<br /> financial regulations since the Great Depression.<br /> <br /> A 20-hour marathon by members of a House-Senate conference<br /> committee culminated at 5:39 a.m. Friday with the approval of<br /> proposals to restrict trading by banks for their own benefit<br /> and requiring banks and their parent companies to segregate<br /> much of their derivatives activities.<br /> <br /> On a party-line vote, the House conferees voted 20-11 to<br /> approve the bill; the Senate conferees voted 7-5 to approve.<br /> The agreement cleared the way for both houses of Congress to<br /> vote on the full financial regulatory bill next week.<br /> - <a href="http://www.nytimes.com/2010/06/26/us/politics/26regulate.html?hp" target="new">New York Times</a></blockquote>So what does all this mean to you and me? Let's see what <a href="http://www.businessweek.com/news/2010-06-25/lawmakers-agree-on-wall-street-s-biggest-overhaul-since-1930s.html" target="new">Business Week</a> has to say.<br /> <br /> <li> ‘Volcker Rule’<br /> <br /> <br /> <blockquote>The Obama administration’s proposal to ban banks from proprietary trading, nicknamed the Volcker rule after former Federal Reserve Chairman Paul Volcker, was softened by Senate negotiators.<br /> <br /> Banks will be allowed to invest in private-equity and hedge funds, though they will be limited to providing no more than 3 percent of the fund’s capital. Banks also can’t invest more than 3 percent of their Tier 1 capital.</blockquote><br /> </li><br /> <li> Derivatives<br /> <br /> <blockquote>After spending months crafting legislation, lawmakers pushed through a last-minute deal on what they termed the most challenging part of their task -- establishing for the first time a regulatory structure for the $615 trillion over-the- counter derivatives market.<br /> <br /> The most contentious part of the derivatives rules is a provision that will force banks to push some of their swaps- trading into subsidiaries, on the theory it would reduce taxpayers’ risk if the trades are walled off from depositary institutions that enjoy federal benefits such as access to the Federal Reserve’s discount lending window.</blockquote><br /> </li><br /> <li> Consumer Financial Protection<br /> OK, this seems to be the section that deals with us "everyday" consumers most directly. So let's see what <a href="http://www.businessweek.com/news/2010-06-25/lawmakers-agree-on-wall-street-s-biggest-overhaul-since-1930s.html" target="new">Business Week</a> has to say on this section of the proposed new law.<br /> <br /> <blockquote>A consumer financial-protection bureau will be created at the Federal Reserve to police banks and financial-services businesses for credit-card and mortgage-lending abuses. The plan was approved over the objections of Republicans and the financial industry.<br /> <br /> Obama originally proposed a stand-alone consumer agency, saying it would play a central role in reorganizing regulation to prevent future financial crises.<br /> <br /> “It’s an agency with considerable authority to protect consumers from abusive financial practices, which is a landmark achievement,” Travis Plunkett, legislative director at the Consumer Federation of America, said in an interview.<br /> <br /> While the bureau will be housed at the Fed, it will have independent authority. Led by a director appointed by the president and confirmed by the Senate, the bureau will write consumer-protection rules for banks and other firms that offer financial services or products. It will enforce those rules for banks and credit unions with more than $10 billion in assets. Bank regulators will continue examining consumer practices at smaller financial institutions.<br /> <br /> The bureau could require credit-card lenders, including JPMorgan Chase &amp; Co. and Citigroup Inc., to reduce interest rates and fees. Mortgage lenders, including Bank of America Corp., may be subject to tougher rules including more upfront disclosures to borrowers about loan terms.<br /> <br /> Automobile dealers won an exemption from oversight by the bureau after lobbying from the industry. Dealers said the rules would place unnecessary restrictions on their financing business. The Obama administration had opposed the exemption.<br /> <br /> </blockquote><br /> Oh, great, in-other-words, bigger government looking over our shoulders and more federal taxes to pay for it. Ok, the bill doesn't stop there, so back to <a href="http://www.businessweek.com/news/2010-06-25/lawmakers-agree-on-wall-street-s-biggest-overhaul-since-1930s.html" target="new">Business Week</a>.<br /> <br /> </li><br /> <li> Credit and Debit Cards<br /> <br /> <blockquote>The Federal Reserve will get authority to limit interchange, or “swipe” fees, that merchants pay for each debit-card transaction. The measure, pushed by Senator Richard Durbin, lets retailers refuse credit cards for purchases under $10 and offer discounts based on the form of payment.<br /> <br /> The measure also directs the Fed to issue rules that let merchants route debit-card transactions on more than one network. That “provides additional competition to a previously non-competitive part of the market,” Durbin, an Illinois Democrat, said in a statement June 21.<br /> <br /> Visa Inc. and MasterCard Inc., the world’s biggest payments networks, set interchange rates and pass that money to card- issuers including Bank of America and JPMorgan. Interchange is the largest component of the fees U.S. merchants pay to accept Visa and MasterCard debit cards. The fees totaled $19.7 billion and averaged 1.63 percent of each sale last year, according to the Nilson Report, an industry newsletter.</blockquote>Ok, so this provision sounds a lot like something they had in Guernsey (Channel Islands, United Kingdom) a few years ago. I was vacationing on the island of Sark (the worlds last Feudal State, and was told when I was purchasing a small trinket, that I needed to spend at least "10 British pounds" if I wanted to swipe the credit card, I carried at the time. Back to <a href="http://www.businessweek.com/news/2010-06-25/lawmakers-agree-on-wall-street-s-biggest-overhaul-since-1930s.html" target="new">Business Week</a>.<br /> <br /> </li><br /> <li> Financial Stability Oversight Council<br /> You thought we were done with new government agencies? Think again, there is yet another big government agency being created by this proposed bill. <br /> <br /> <blockquote>The bill will establish the Financial Stability Oversight Council, a super-regulator that will monitor Wall Street’s largest firms and other market participants to spot and respond to emerging systemic risks. The Treasury Department will lead the panel, which includes regulators from other agencies.<br /> <br /> “The idea of the council is to look at the interconnection of highly leveraged financial firms,” said Jim Hamilton, a senior law analyst at Riverwoods, Illinois-based CCH Inc., which provides information to businesses about regulatory changes. “No one was able to do that before the financial crisis.”<br /> <br /> With a two-thirds vote, the council can impose higher capital requirements on lenders or place broker-dealers and hedge funds under the authority of the Fed. The council also will have authority to force companies to divest holdings if their structure poses a “grave threat” to U.S. financial stability.</blockquote><br /> </li><br /> <li> Bank Capital Rules<br /> <br /> <blockquote>The bill may force some banks to shore up capital. An amendment introduced by Senator Susan Collins, the Maine Republican who joined Democrats in voting for the broader bill, will bar bank holding companies from keeping less capital than their bank subsidiaries. That will have an impact on the use of trust preferred securities, known as TruPS. Lawmakers bowed to pressure from banks, agreeing to a transition period for large firms and grandfathering of the securities for smaller lenders.<br /> </blockquote><br /> <LI> Federal Reserve<br /> <blockquote>The Federal Reserve will have a broadened supervisory scope and be subject to the most transparency in its 96-year history after negotiators rejected threats to its political autonomy and bank-oversight powers.<br /> Chairman Ben S. Bernanke will have a seat on a newly created Financial Stability Oversight Council. That board will deputize the Fed to set tougher standards for disclosure, capital and liquidity. The rules will apply to banks as well as non-bank financial companies, such as insurers, that pose risks to the financial system.<br /> </blockquote>Wait a minute, broader supervisory scope, so again bigger government, which translates into more people on the government payroll. Which means even more taxes for you and I to pay for it all. <br /> <br /> OK, back to <a href="http://www.businessweek.com/news/2010-06-25/lawmakers-agree-on-wall-street-s-biggest-overhaul-since-1930s.html" target="new">Business Week</a>.<br /> <br /> <LI> Credit Raters<br /> <blockquote>Ratings companies, including Moody’s Corp. and McGraw-Hill Cos.’ Standard & Poor’s unit, may avoid a plan to have regulators help pick which firms grade asset-backed securities. Congress also softened a proposed liability provision, making it harder for investors to sue credit raters than under language approved by the House in December.<br /> The overhaul legislation requires the SEC to conduct a two- year study on whether to create a board to decide who rates asset-backed securities. That curbed a Senate proposal to establish the board with SEC oversight. After the study, the board would be established only if regulators can’t come up with a better alternative.<br /> </blockquote><br /> <LI> Private Equity<br /> <blockquote>Large hedge and private equity funds will be forced to register with the SEC, subjecting them to mandatory federal oversight for the first time. Venture capital funds were exempted from the registration rule.<br /> Hedge funds, in particular, pushed for the registration requirement, which is less burdensome than the regulations being imposed on banks. In lobbying Congress, representatives of the private pools of capital argued that they shouldn’t be heavily regulated because they didn’t cause the financial crisis. Nor were they bailed out by taxpayers.<br /> Registration subjects funds to periodic inspections by SEC examiners. Any firm with $150 million or more in assets, such as ESL Investments Inc. and Soros Fund Management, will be covered by the law. Funds also must hire a chief compliance officer and set up policies to avoid conflicts of interest.<br /> </blockquote><br /> <LI> Unwinding Failed Firms<br /> <br /> <blockquote>The bill gives the FDIC, which already has authority to liquidate failed commercial banks, power to unwind large failing financial firms whose collapse would roil the economy.<br /> Regulators will have clout they lacked during the financial crisis when, instead of seizing flailing companies such as American International Group Inc., the government kept them afloat with a $700 billion taxpayer-funded bailout. Had such authority existed in September 2008, it might have been applied to Lehman Brothers Holdings Inc., whose bankruptcy that month froze credit markets and helped spur Congress to approve the Troubled Asset Relief Program.<br /> </blockquote><br /> <LI> Risk Retention<br /> <blockquote>The legislation will force lenders, with the exception of some mortgage providers, to hold at least a 5 percent stake in debt they package or sell. The provision is designed to rein in the trade of easy credit blamed for fueling the financial crisis.<br /> The rule will affect credit-card debt, auto loans, mortgages and other securitized debt. Issuers of asset-backed debt and the originators who supply them with pools of loans, including credit-card companies such as Riverwoods, Illinois- based Discover Financial Services, will be forced to retain some of the credit risk. The goal is to align the issuers’ interests with those of the investors who buy their financial products.<br /> The provision will curtail lending and raise consumer costs, said Tom Deutsch, executive director of the American Securitization Forum, a New York trade group that represents issuers, investors and other participants in the market.<br /> </blockquote><br /> <LI> Fiduciary Duty<br /> <blockquote>Lawmakers scrapped a proposal that would have made securities firms more accountable to individual investors. Instead, the SEC is required to study whether changes are necessary.<br /> The debate focused on whether stock brokers who offer clients investment advice should have a fiduciary duty that requires disclosure of all conflicts and restricts marketing to products that are in customers’ best interests. Currently, brokers must only ensure that a stock or bond is suitable before selling it to a client.<br /> </blockquote><br /> <LI> Insurance Industry<br /> Guess what, this bill creates yet another federal agency. This one watch over the insurance companies. Below is what <a href="http://www.businessweek.com/news/2010-06-26/overhaul-of-financial-regulation-on-path-to-obama-s-desk.html" target="new">Business week</a> had to say about this. <br /> <blockquote>The bill creates a new Federal Insurance Office within the Treasury to monitor insurers, and requires a study that will recommend ways to further overhaul regulation of the industry. Industry groups say a new layer of oversight may complicate compliance and increase costs.<br /> The measures were prompted by the near-collapse of New York-based AIG in 2008. The insurer, then the world’s largest, got a $182.3 billion taxpayer bailout after failing to set aside enough money to cover obligations on credit-default swaps linked to subprime mortgages.<br /> Insurers, which are mainly regulated by states, will now have to deal with a national watchdog. State insurance commissioners are concerned federal oversight will interfere with rules already in place. Insurers are concerned that they will have to devote more resources to answer to multiple officials.<br /> “Half of our companies are farm- and county-mutual companies,” said Dylan Jones, federal affairs director of the National Association of Mutual Insurance Companies, which represents policyholder-owned carriers. “They certainly don’t have the resources to respond to federal regulatory calls.”<br /> </blockquote>While I think some tighter regulation may be needed, I have to wonder, if this is overkill. Especially, when there is at least three (3) brand new agencies being created in this proposed bill. We will have to keep on eye out for the final version after the final vote this week. <br /> <b>---<br /> go ahead share your thoughts with me now, my ears are open. I'm always eager to hear what you think. </b> <br /> <br /> <hr color="red" /><a href="https://www.paypal.com/cgi-bin/webscr?cmd=_s-xclick&amp;hosted_button_id=57E97KY7C572E">Sponsor This Post(via PayPal) for $75 and Replace This Text</a>. <br /> <hr color="RED" /><br /> <a href="http://twitter.com/princeOFthrift" target="new">follow me on Twitter</a> <script type="text/javascript"> <!-- google_ad_client = "pub-5907948404449484"; /* 125x125, created 2/3/08 */ google_ad_slot = "2280874391"; google_ad_width = 125; google_ad_height = 125; //--> </script> <script src="http://pagead2.googlesyndication.com/pagead/show_ads.js" type="text/javascript"> </script> <br /> <hr /><div align="center" style="text-align: center;"><div><a href="http://www.ringsurf.com/ring/austinbloggers/">austin bloggers</a></div><a href="http://www.ringsurf.com/">Powered By Ringsurf</a></div></li><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/24744976-3870990141722093193?l=www.debtfree4ever.net' alt='' /></div> <p><a href="http://feedads.g.doubleclick.net/~a/6uLZvOhlbByLYzrPjw2ECvYZC5w/0/da"><img src="http://feedads.g.doubleclick.net/~a/6uLZvOhlbByLYzrPjw2ECvYZC5w/0/di" border="0" ismap="true"></img></a><br/> <a href="http://feedads.g.doubleclick.net/~a/6uLZvOhlbByLYzrPjw2ECvYZC5w/1/da"><img src="http://feedads.g.doubleclick.net/~a/6uLZvOhlbByLYzrPjw2ECvYZC5w/1/di" border="0" ismap="true"></img></a></p><img src="http://feeds.feedburner.com/~r/debtfree4ever/HfZu/~4/gcGFR1syWFI" height="1" width="1"/>Prince of Thrifthttp://www.blogger.com/profile/07863514672517538661noreply@blogger.com1http://www.debtfree4ever.net/2010/06/house-and-senate-in-deal-on-financial.htmltag:blogger.com,1999:blog-24744976.post-65850574928950477912010-06-23T07:49:00.001-05:002010-06-23T07:49:00.158-05:002010-06-23T07:49:00.158-05:00OK, so I know these headlines aren't exactly financial, but we are in the technology age. If it wasn't for technology, I wouldn't be blogging and you wouldn't be reading my blog. It's just that I thought these three articles (from this weeks news) were interesting, and would be of interest to you to. <br /> <br /> <center><b>Broadband</b></center><br /> <blockquote>The Federal Communications Commission voted 3 to 2 on Thursday (June 17, 2010) to move toward giving itself the authority to regulate the transmission component of broadband Internet service, a power the commission’s majority believes is central to expanding the availability of broadband.<br /> - <a href="http://www.nytimes.com/2010/06/18/business/18fcc.html?th&amp;emc=th" target="new">New York Times</a></blockquote>So what does that mean to you and me?<br /> <blockquote>The vote formally begins a period of public comment on an F.C.C. proposal to overturn a previous commission ruling that classified broadband transmission as a lightly regulated information service.<br /> <br /> The proposal would designate broadband transmission as a telecommunications service, which, as with telephone service, would make it subject to stricter regulation.<br /> <br /> The commission has said it intends to exempt broadband service from most of the regulatory options it has under the stricter designation, keeping only those regulations that are necessary “to implement fundamental universal service, competition and market entry, and consumer protection policies.”<br /> <br /> It would not regulate Internet content.<br /> - <a href="http://www.nytimes.com/2010/06/18/business/18fcc.html?th&amp;emc=th" target="new">New York Times</a></blockquote><br /> <center><b>Bebo Sold</b></center><br /> <blockquote>AOL said on Thursday (June 17, 2010) that it sold Bebo, the struggling social networking site, to Criterion Capital Partners, a private equity fund based in Los Angeles, for a fraction of what AOL paid for the site two years ago.<br /> <br /> The terms of the deal were not disclosed, but reports pegged its value at $10 million or less. AOL paid $850 million to a pair of British entrepreneurs for the company in March 2008.<br /> <br /> AOL once had high hopes that Bebo would help it to regain momentum, especially with younger audiences and advertisers, and to catch other fast-growing Internet franchises. At the time, it was popular in Britain.<br /> <br /> When it bought Bebo, the chief executive of AOL at the time, Randy Falco, called it a “game-changing acquisition” that would turn AOL into “a social media powerhouse.” AOL also had hopes Bebo would help AOL’s instant messaging service bring in revenue.<br /> <br /> But Bebo was largely eclipsed by the continuing rise of Facebook, which has grown quickly in the United States and around the world and now has nearly 500 million members.<br /> - <a href="http://www.nytimes.com/2010/06/18/technology/18aol.html?th&amp;emc=th" target="new">New York Times</a></blockquote>Have you heard of Bebo? I don't think most of us has. I was on Bebo at one time, but did not care for it. It seem void of people to interact with. In fact it seemed deader then even MySpace which anymore is pretty dead. What do you think? Will Bebo "make a come back," and become a true competitor at least to MySpace, if not Facebook? What do you think?<br /> <br /> <b>---<br /> go ahead share your thoughts with me now, my ears are open. I'm always eager to hear what you think. </b> <br /> <hr color="red" /><a href="https://www.paypal.com/cgi-bin/webscr?cmd=_s-xclick&amp;hosted_button_id=57E97KY7C572E">Sponsor This Post(via PayPal) for $75 and Replace This Text</a>. <br /> <hr color="RED" /><br /> <a href="http://twitter.com/princeOFthrift" target="new">follow me on Twitter</a> <script type="text/javascript"> <!-- google_ad_client = "pub-5907948404449484"; /* 125x125, created 2/3/08 */ google_ad_slot = "2280874391"; google_ad_width = 125; google_ad_height = 125; //--> </script> <script src="http://pagead2.googlesyndication.com/pagead/show_ads.js" type="text/javascript"> </script> <br /> <hr /><div align="center" style="text-align: center;"><div><a href="http://www.ringsurf.com/ring/austinbloggers/">austin bloggers</a></div><a href="http://www.ringsurf.com/">Powered By Ringsurf</a></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/24744976-6585057492895047791?l=www.debtfree4ever.net' alt='' /></div> <p><a href="http://feedads.g.doubleclick.net/~a/80vNsMzFS_MMT7v0eP8xXqLwvxY/0/da"><img src="http://feedads.g.doubleclick.net/~a/80vNsMzFS_MMT7v0eP8xXqLwvxY/0/di" border="0" ismap="true"></img></a><br/> <a href="http://feedads.g.doubleclick.net/~a/80vNsMzFS_MMT7v0eP8xXqLwvxY/1/da"><img src="http://feedads.g.doubleclick.net/~a/80vNsMzFS_MMT7v0eP8xXqLwvxY/1/di" border="0" ismap="true"></img></a></p><img src="http://feeds.feedburner.com/~r/debtfree4ever/HfZu/~4/68ARVkZsIgE" height="1" width="1"/>Prince of Thrifthttp://www.blogger.com/profile/07863514672517538661noreply@blogger.com1http://www.debtfree4ever.net/2010/06/tech-headlines.htmltag:blogger.com,1999:blog-24744976.post-83589342094646306882010-06-19T09:41:00.003-05:002010-06-19T09:41:00.392-05:002010-06-19T09:41:00.392-05:00Like every Friday the past couple of years (or so), yesterday brought another bank seizure. This time though, it was only one (1) bank. That's better then the four (4) or five (5) that seems to be the standard. <br /> <li> <a href="http://www.fdic.gov/bank/individual/failed/nevsecbank.html" target="new">Nevada Security Bank</a>, Reno, NV<br /> <br /> According to the FDIC, <br /> <blockquote>On June 18, 2010, Nevada Security Bank, Reno, NV (also known as Silverado Bank, Roseville, CA), was closed by the Nevada Financial Institutions Division and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. No advance notice is given to the public when a financial institution is closed. <br /> </blockquote>The five branches of Nevada Security Bank (which includes the Silverado Bank, in Roseville, CA) will reopen on Monday as branches of Umpqua Bank. Depositors of Nevada Security Bank will automatically become depositors of Umpqua Bank. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship in order to retain their deposit insurance coverage. Customers of Nevada Security Bank should continue to use their existing branch until they receive notice from Umpqua Bank that it has completed systems changes to allow other Umpqua Bank branches to process their accounts as well.<br /> <b>---<BR> go ahead share your thoughts with me now, my ears are open. I'm always eager to hear what you think. </B><br /> <BR><br /> <HR color=red><a href="https://www.paypal.com/cgi-bin/webscr?cmd=_s-xclick&hosted_button_id=57E97KY7C572E">Sponsor This Post(via PayPal)for $75 and Replace This Text</a>. <br /> <hr color=RED><BR><br /> <a href="http://twitter.com/princeOFthrift" target="new">follow me on Twitter</a> <script type="text/javascript"><!-- google_ad_client = "pub-5907948404449484"; /* 125x125, created 2/3/08 */ google_ad_slot = "2280874391"; google_ad_width = 125; google_ad_height = 125; //--> </script> <script type="text/javascript" src="http://pagead2.googlesyndication.com/pagead/show_ads.js"> </script> <hr><div style="text-align: center;" align="center"><div><a href="http://www.ringsurf.com/ring/austinbloggers/">austin bloggers</a></div><a href="http://www.ringsurf.com">Powered By Ringsurf</a></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/24744976-8358934209464630688?l=www.debtfree4ever.net' alt='' /></div> <p><a href="http://feedads.g.doubleclick.net/~a/qeO7TtQuZT4vpOuqBPrDV-DYQKw/0/da"><img src="http://feedads.g.doubleclick.net/~a/qeO7TtQuZT4vpOuqBPrDV-DYQKw/0/di" border="0" ismap="true"></img></a><br/> <a href="http://feedads.g.doubleclick.net/~a/qeO7TtQuZT4vpOuqBPrDV-DYQKw/1/da"><img src="http://feedads.g.doubleclick.net/~a/qeO7TtQuZT4vpOuqBPrDV-DYQKw/1/di" border="0" ismap="true"></img></a></p><img src="http://feeds.feedburner.com/~r/debtfree4ever/HfZu/~4/rF_hmrk6npk" height="1" width="1"/>Prince of Thrifthttp://www.blogger.com/profile/07863514672517538661noreply@blogger.com0http://www.debtfree4ever.net/2010/06/just-1-bank-failed-this-week.htmltag:blogger.com,1999:blog-24744976.post-54882743333631027902010-06-12T09:07:00.002-05:002010-06-19T06:38:46.032-05:002010-06-19T06:38:46.032-05:00<a href="http://www.fdic.gov/bank/individual/failed/washfirstintl.html" target=New">Washington First International Bank</a>, Seattle, Washington, was closed yesterday (June 11, 2010) by the Washington Department of Financial Institutions, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with East West Bank, Pasadena, California, to assume all of the deposits of Washington First International Bank.<br /> <br /> The four branches of Washington First International Bank will reopen during normal business hours today (June 12, 2010) as branches of East West Bank. Depositors of Washington First International Bank will automatically become depositors of East West Bank. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship to retain their deposit insurance coverage. Customers of Washington First International Bank should continue to use their existing branch until they receive notice from East West Bank that it has completed systems changes to allow other East West Bank branches to process their accounts as well.<br /> <br /> Over the weekend, depositors of Washington First International Bank can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.<br /> <br /> As of March 31, 2010, Washington First International Bank had approximately $520.9 million in total assets and $441.4 million in total deposits. East West Bank will pay the FDIC a premium of 0.5 percent to assume all of the deposits of Washington First International Bank. In addition to assuming all of the deposits of the failed bank, East West Bank agreed to purchase approximately $501.0 million of the failed bank's assets. The FDIC will retain the remaining assets for later disposition.<br /> <br /> The FDIC and East West Bank entered into a loss-share transaction on $418.8 million of Washington First International Bank's assets. East West Bank will share in the losses on the asset pools covered under the loss-share agreement. The loss-share transaction is projected to maximize returns on the assets covered by keeping them in the private sector. The transaction also is expected to minimize disruptions for loan customers.<br /> <br /> <br /> <b>---<BR> go ahead share your thoughts with me now, my ears are open. I'm always eager to hear what you think. </B><br /> <BR><br /> <HR color=red><a href="https://www.paypal.com/cgi-bin/webscr?cmd=_s-xclick&hosted_button_id=57E97KY7C572E">Sponsor This Post(via PayPal)for $75 and Replace This Text</a>. <br /> <hr color=RED><BR><br /> <a href="http://twitter.com/princeOFthrift" target="new">follow me on Twitter</a> <script type="text/javascript"><!-- google_ad_client = "pub-5907948404449484"; /* 125x125, created 2/3/08 */ google_ad_slot = "2280874391"; google_ad_width = 125; google_ad_height = 125; //--> </script> <script type="text/javascript" src="http://pagead2.googlesyndication.com/pagead/show_ads.js"> </script> <hr><div style="text-align: center;" align="center"><div><a href="http://www.ringsurf.com/ring/austinbloggers/">austin bloggers</a></div><a href="http://www.ringsurf.com">Powered By Ringsurf</a></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/24744976-5488274333363102790?l=www.debtfree4ever.net' alt='' /></div> <p><a href="http://feedads.g.doubleclick.net/~a/2XTA6JJCUCn0lia1RQcD4J2qCxY/0/da"><img src="http://feedads.g.doubleclick.net/~a/2XTA6JJCUCn0lia1RQcD4J2qCxY/0/di" border="0" ismap="true"></img></a><br/> <a href="http://feedads.g.doubleclick.net/~a/2XTA6JJCUCn0lia1RQcD4J2qCxY/1/da"><img src="http://feedads.g.doubleclick.net/~a/2XTA6JJCUCn0lia1RQcD4J2qCxY/1/di" border="0" ismap="true"></img></a></p><img src="http://feeds.feedburner.com/~r/debtfree4ever/HfZu/~4/zjpjO9ISNXw" height="1" width="1"/>Prince of Thrifthttp://www.blogger.com/profile/07863514672517538661noreply@blogger.com1http://www.debtfree4ever.net/2010/06/fdic-seizes-washington-first.htmltag:blogger.com,1999:blog-24744976.post-74815904458693084632010-06-12T05:43:00.001-05:002010-06-19T06:35:57.587-05:002010-06-19T06:35:57.587-05:00I have long hated not being able to have three columns within the blogger.com platform. Now they have that as an option, in their new design features. I believe the look is great. It is fresh, more easily readable and over all more pleasant to the eye. Have a look and see what you think.<br /> <br /> <br /> <b>---<BR> go ahead share your thoughts with me now, my ears are open. I'm always eager to hear what you think. </B><br /> <BR><br /> <HR color=red><a href="https://www.paypal.com/cgi-bin/webscr?cmd=_s-xclick&hosted_button_id=57E97KY7C572E">Sponsor This Post(via PayPal)for $75 and Replace This Text</a>. <br /> <hr color=RED><BR><br /> <a href="http://twitter.com/princeOFthrift" target="new">follow me on Twitter</a> <script type="text/javascript"><!-- google_ad_client = "pub-5907948404449484"; /* 125x125, created 2/3/08 */ google_ad_slot = "2280874391"; google_ad_width = 125; google_ad_height = 125; //--> </script> <script type="text/javascript" src="http://pagead2.googlesyndication.com/pagead/show_ads.js"> </script> <hr><div style="text-align: center;" align="center"><div><a href="http://www.ringsurf.com/ring/austinbloggers/">austin bloggers</a></div><a href="http://www.ringsurf.com">Powered By Ringsurf</a></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/24744976-7481590445869308463?l=www.debtfree4ever.net' alt='' /></div> <p><a href="http://feedads.g.doubleclick.net/~a/IM85R0r9OvMgw87eYZE3gYDLwt8/0/da"><img src="http://feedads.g.doubleclick.net/~a/IM85R0r9OvMgw87eYZE3gYDLwt8/0/di" border="0" ismap="true"></img></a><br/> <a href="http://feedads.g.doubleclick.net/~a/IM85R0r9OvMgw87eYZE3gYDLwt8/1/da"><img src="http://feedads.g.doubleclick.net/~a/IM85R0r9OvMgw87eYZE3gYDLwt8/1/di" border="0" ismap="true"></img></a></p><img src="http://feeds.feedburner.com/~r/debtfree4ever/HfZu/~4/BLhtZvEqaIw" height="1" width="1"/>Prince of Thrifthttp://www.blogger.com/profile/07863514672517538661noreply@blogger.com1http://www.debtfree4ever.net/2010/06/new-design-look.htmltag:blogger.com,1999:blog-24744976.post-37905473343351931532010-06-10T08:19:00.003-05:002010-06-10T08:19:00.436-05:002010-06-10T08:19:00.436-05:00There are millions of Americans who at some point in their life find themselves dealing with unpaid debts that threaten to destroy any hope of financial stability in the future. Falling behind on day-to-day bills is stressful enough, however when you find yourself owing the Internal Revenue Service back taxes, the situation becomes even more grave. Creditors and lenders have resources to collect unpaid debt but when dealing with the IRS, the collection methods become even more impressive. People owing the IRS a tax liability may find themselves dealing with liens on their property or even the seizure of assets to satisfy their debt. <br /> <br /> Fortunately there are options available to individuals that owe a tax liability that they are unable to pay in full. Here we look at a few of these options and what steps you should take to handle taxes owed to the IRS. <br /> <br /> <span style="font-size: large;"><b>Request an installment agreement</b></span>- While the IRS has great collection capabilities, they also know that it is better to work with a person trying to pay off back taxes than to immediately begin seizing property or garnishing wages. If you are willing and able to meet the requirements set forth in an installment agreement, you may be able to pay your tax liability in monthly installments, similar to that of other debt repayment plans. Keep in mind that the IRS will determine the minimum monthly payment and fees and penalties will continue to accrue while you are making payments. <br /> <br /> <span style="font-size: large;"><b>Tax settlement</b></span>- If your financial situation does not allow for regular, routine payments that would satisfy an installment agreement, the IRS might consider a settlement for less than the total amount owed. To request this, you would be required to submit an Offer in Compromise to the IRS. This process is neither simple nor without risks, therefore it is recommended anyone considering this option consult with a tax professional before moving forward. <br /> <br /> <span style="font-size: large;"><b>Currently Not Collectible</b></span>- This may be an option for individuals who truly have no resources to pay past due tax liabilities. Reserved for individuals who have little or no assets and minimum income, the IRS hardship rule may apply meaning collection activity is stopped. This does not however absolve you of the taxes owed, and despite the fact that collection activity is ceased, penalties and fees will continue to pile up, adding to the amount owed. The IRS will pay close attention to your earning over time to determine if and when collection activities should resume. <br /> <br /> If you owe the IRS back taxes, the first step you may want to consider is consulting a tax professional that can help you understand the many laws and options available to you. Do not convince yourself that the situation will simply "go away" as this is one of the worst mistakes you can make. Consider what resources you have at your disposal and determine the best course of action to resolve back taxes owed to the IRS. <br /> <br /> This article is provided for Backtaxeshelp.com, a site designed to help you <a href="http://www.backtaxeshelp.com/Pay_Back_Taxes.html">pay back taxes</a>. Owing back taxes to the IRS is stressful, and negligence will only worsen the situation. Learn how to get <a href="http://www.backtaxeshelp.com/">back tax relief</a>.<br /> <br /> <br /> <br /> <b>---<br /> go ahead share your thoughts with me now, my ears are open. I'm always eager to hear what you think. </b> <br /> <hr color="red" /><a href="https://www.paypal.com/cgi-bin/webscr?cmd=_s-xclick&amp;hosted_button_id=57E97KY7C572E">Sponsor This Post(via PayPal) and Replace This Text</a>. <br /> <hr color="RED" /><br /> <a href="http://twitter.com/princeOFthrift" target="new">follow me on Twitter</a> <script type="text/javascript"> <!-- google_ad_client = "pub-5907948404449484"; /* 125x125, created 2/3/08 */ google_ad_slot = "2280874391"; google_ad_width = 125; google_ad_height = 125; //--> </script> <script src="http://pagead2.googlesyndication.com/pagead/show_ads.js" type="text/javascript"> </script> <br /> <hr /><div align="center" style="text-align: center;"><div><a href="http://www.ringsurf.com/ring/austinbloggers/">austin bloggers</a></div><a href="http://www.ringsurf.com/">Powered By Ringsurf</a></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/24744976-3790547334335193153?l=www.debtfree4ever.net' alt='' /></div> <p><a href="http://feedads.g.doubleclick.net/~a/FnJTivUtt90norXXLrPhtV36e78/0/da"><img src="http://feedads.g.doubleclick.net/~a/FnJTivUtt90norXXLrPhtV36e78/0/di" border="0" ismap="true"></img></a><br/> <a href="http://feedads.g.doubleclick.net/~a/FnJTivUtt90norXXLrPhtV36e78/1/da"><img src="http://feedads.g.doubleclick.net/~a/FnJTivUtt90norXXLrPhtV36e78/1/di" border="0" ismap="true"></img></a></p><img src="http://feeds.feedburner.com/~r/debtfree4ever/HfZu/~4/YMol4wp5bUI" height="1" width="1"/>Prince of Thrifthttp://www.blogger.com/profile/07863514672517538661noreply@blogger.com0http://www.debtfree4ever.net/2010/06/how-to-handle-taxes-owed-to-irs.htmltag:blogger.com,1999:blog-24744976.post-10394927354317103252010-06-09T17:30:00.001-05:002010-06-28T22:16:37.531-05:002010-06-28T22:16:37.531-05:00<div class="separator" style="clear: both; text-align: center;"><a href="http://1.bp.blogspot.com/_pwKAMLxLoOo/TBATZKh6cHI/AAAAAAAABQg/Odihu2ZWmC8/s1600/1cody_eric_rebecca.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" height="188" src="http://1.bp.blogspot.com/_pwKAMLxLoOo/TBATZKh6cHI/AAAAAAAABQg/Odihu2ZWmC8/s320/1cody_eric_rebecca.jpg" width="320" /></a></div>Fox Business Network (FBN) canceled the two programs I watched most on their channel. One of which, you may remember that I sat down with the three co-hosts last year and interviewed them. That of course was the program called "<a href="http://www.debtfree4ever.net/2009/04/fox-business-networks-happy-hour-sound.html" target="new">Happy Hour</a>," that was filmed in the Bulls and Bear Bar at the Waldorf Hotel. <br /> <br /> <blockquote>Fox Business Network announced that Eric Bolling, who was a co-host on the recently canceled "Happy Hour," will get his own show, called "Money Rocks."<br /> - <a href="http://www.huffingtonpost.com/2010/06/09/eric-bolling-gets-fox-bus_n_606083.html" target="new">Huffington Post</a></blockquote><br /> So at least one of the three will still be with FBN, but I tended to be more interested in what the other two had to say, over what Eric said. Don't get me wrong, I supported Eric's strong conservative, Reagan-esk stance on the issues, but Cody and Rebecca were my favorites. <br /> <br /> So what was the other show that was canceled or soon will be, and when will the new show be on? Well, I can answer both at the same time, because the new show will replace my other favorite FBN program. <br /> <blockquote>"Money Rocks" will air at 8 PM, replacing a consumer-oriented call-in show hosted by Dave Ramsey. <br /> - <a href="http://www.huffingtonpost.com/2010/06/09/eric-bolling-gets-fox-bus_n_606083.html" target="new">Huffington Post</a></blockquote><br /> Cody Willard announced on his blog yesterday (June 8, 2010) that he would be leaving the network, effective immediately (the blog, has since been removed from the FBN servers). He was previously a Happy Hour co-host. Dave Ramsey, who previously hosted at 8pmET, obviously is gone as well.<br /> <br /> As for the third Happy Hour co-host, Rebecca Diamond, appears to be staying with the network – she was on the air this afternoon in a contributor role.<br /> <br /> <b>---<br /> go ahead share your thoughts with me now, my ears are open. I'm always eager to hear what you think. </b> <br /> <hr color="red" /><a href="https://www.paypal.com/cgi-bin/webscr?cmd=_s-xclick&amp;hosted_button_id=57E97KY7C572E">Sponsor This Post(via PayPal) and Replace This Text for only $75</a>. <br /> <hr color="RED" /><br /> <a href="http://twitter.com/princeOFthrift" target="new">follow me on Twitter</a> <script type="text/javascript"> <!-- google_ad_client = "pub-5907948404449484"; /* 125x125, created 2/3/08 */ google_ad_slot = "2280874391"; google_ad_width = 125; google_ad_height = 125; //--> </script> <script src="http://pagead2.googlesyndication.com/pagead/show_ads.js" type="text/javascript"> </script> <br /> <hr /><div align="center" style="text-align: center;"><div><a href="http://www.ringsurf.com/ring/austinbloggers/">austin bloggers</a></div><a href="http://www.ringsurf.com/">Powered By Ringsurf</a></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/24744976-1039492735431710325?l=www.debtfree4ever.net' alt='' /></div> <p><a href="http://feedads.g.doubleclick.net/~a/C77fudui9OdjPws4ZBMZPzMQauI/0/da"><img src="http://feedads.g.doubleclick.net/~a/C77fudui9OdjPws4ZBMZPzMQauI/0/di" border="0" ismap="true"></img></a><br/> <a href="http://feedads.g.doubleclick.net/~a/C77fudui9OdjPws4ZBMZPzMQauI/1/da"><img src="http://feedads.g.doubleclick.net/~a/C77fudui9OdjPws4ZBMZPzMQauI/1/di" border="0" ismap="true"></img></a></p><img src="http://feeds.feedburner.com/~r/debtfree4ever/HfZu/~4/q5nL0iJjMP8" height="1" width="1"/>Prince of Thrifthttp://www.blogger.com/profile/07863514672517538661noreply@blogger.com1http://www.debtfree4ever.net/2010/06/fbn-cancels-2-programs-i-watched-most.htmltag:blogger.com,1999:blog-24744976.post-29253899507932040382010-06-09T09:16:00.006-05:002010-06-09T09:16:00.138-05:002010-06-09T09:16:00.138-05:00Recently, I was reading <a href="http://www.americanbanker.com/usb_issues/120_6/no-joy-in-credit-unions-pain-1019456-1.html" target="new">US Banker</a>, in which they had an article about Credit Unions. <br /> <blockquote>n the ever-present competition for market share between banks and credit unions, the misfortunes of one side are usually viewed as the fortunes of the other: More restrictive membership rules for credit unions are good for banks; tougher capital requirements for banks are good for credit unions.<br /> <br /> But the current turmoil in the credit union world—where multiple corporate credit unions are on life support and the retail credit unions that own them are anxiously watching their capital ratios—may turn out to be bad for both banks and credit unions.</blockquote>The article continues by telling its readers that an estimated 2,300 Credit Unions will need "fresh capital" in the next few years. Since, there is a lack of options for raising those funds, weaker Credit Unions may be compelled by the National Credit Unions Association (NCUA) to merge with healthier ones. <br /> Consolidation is already underway. Last year, NCUA arranged 56 such mergers. However, it's not just forced mergers either. Some "healthy" Credit Unions are voluntarily choosing to merge with each other. For example two Credit Unions that I was a member of chose to merge last year. The NCUA approved the merger in October (2009), the membership of both institutions approved it in November (2009) and the deal was complete late last month (May 2010). The combined credit unions that merged selected Quest as their new name, creating the state’s fifth largest CU with $225 million in assets.<br /> <br /> <blockquote>In picking the moniker, management said it sought out a brand that reflects "a search for a name that would bond the two organizations 
together and speak to their shared pursuit of excellent member and 
product service."<br /> <br /> In an unusual twist, Quest is operating with co-presidents/CEOs, Gary Colcher and Vickie Hurt.<br /> - <a href="http://www.cutimes.com/Issues/2010/June-2-2010/Pages/Topeka-CUs-Pick-Quest.aspx" target="new">Credit Union Times</a></blockquote><br /> Vickie Hurt told the Credit Union Times that both Credit Unions were "healthy, well-capitalized and with strong membership bases, so the consolidation wasn’t required."<br /> <br /> I tried to contact the co-presidents and ask them, if they were both healthy, why did they decide to merge. I as a member of both had encouraged a merger for several years, but I wanted to know why the boards made this decision. However, neither was available for comment before posting time. <br /> <br /> As the Credit Unions merge and get bigger they are becoming more competitive with community banks. Community bankers say they have no problems with small credit unions that stick with serving specific member groups. They say that their problem is with the large credit unions that advertise aggressively, while enjoying a tax advantage over banks.<br /> <br /> <blockquote>"We see the credit unions we are competing against already being very competitive across all the products we offer as a community bank," says Robert R. Jones 3rd, president of United Bank in Mobile, Ala. "If they are going to get to a certain size, the viability of the credit union charter needs to be reconsidered."<br /> <br /> - <a href="http://www.americanbanker.com/usb_issues/120_6/no-joy-in-credit-unions-pain-1019456-1.html" target="New&quot;">US Banker</a></blockquote><br /> I personally think it's good that Credit Unions are taking care of themselves and shaking out the weak among themselves. It is important that we as the consumers of financial products that we place our trust in strong, viable financial institutions. No mater if they be Credit Unions, Banks or Savings and Loans. <br /> <b>---<br /> go ahead share your thoughts with me now, my ears are open. I'm always eager to hear what you think. </b> <br /> <hr color="red" /><a href="https://www.paypal.com/cgi-bin/webscr?cmd=_s-xclick&amp;hosted_button_id=57E97KY7C572E">Sponsor This Post(via PayPal) and Replace This Text</a>. <br /> <hr color="RED" /><br /> <a href="http://twitter.com/princeOFthrift" target="new">follow me on Twitter</a> <script type="text/javascript"> <!-- google_ad_client = "pub-5907948404449484"; /* 125x125, created 2/3/08 */ google_ad_slot = "2280874391"; google_ad_width = 125; google_ad_height = 125; //--> </script> <script src="http://pagead2.googlesyndication.com/pagead/show_ads.js" type="text/javascript"> </script> <br /> <hr /><div align="center" style="text-align: center;"><div><a href="http://www.ringsurf.com/ring/austinbloggers/">austin bloggers</a></div><a href="http://www.ringsurf.com/">Powered By Ringsurf</a></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/24744976-2925389950793204038?l=www.debtfree4ever.net' alt='' /></div> <p><a href="http://feedads.g.doubleclick.net/~a/QPzkki5MXdm7aM9zqJEIQr_xIl4/0/da"><img src="http://feedads.g.doubleclick.net/~a/QPzkki5MXdm7aM9zqJEIQr_xIl4/0/di" border="0" ismap="true"></img></a><br/> <a href="http://feedads.g.doubleclick.net/~a/QPzkki5MXdm7aM9zqJEIQr_xIl4/1/da"><img src="http://feedads.g.doubleclick.net/~a/QPzkki5MXdm7aM9zqJEIQr_xIl4/1/di" border="0" ismap="true"></img></a></p><img src="http://feeds.feedburner.com/~r/debtfree4ever/HfZu/~4/PejL8qCWn4A" height="1" width="1"/>Prince of Thrifthttp://www.blogger.com/profile/07863514672517538661noreply@blogger.com0http://www.debtfree4ever.net/2010/06/are-credit-unions-getting-stronger.htmltag:blogger.com,1999:blog-24744976.post-65099371361943581532010-06-06T11:13:00.034-05:002010-06-06T11:13:00.196-05:002010-06-06T11:13:00.196-05:00This past Friday the FDIC seized another another three (3) banks. These 3 banks bring the count to 81 this year and nearly 271 since the financial crisis began.<br /> <br /> The 3 banks as reported by the <a href="https://www.fdic.gov/bank/individual/failed/banklist.html" target="new">FDIC</a> are as follows:<br /> 1.<a href="https://www.fdic.gov/bank/individual/failed/tieronebankne.html" target="new"> TierOne Bank</a> Lincoln, NE <br /> <blockquote>TierOne Bank, Lincoln, Nebraska, was closed Friday, June 4, 2010, by the Office of Thrift Supervision, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Great Western Bank, Sioux Falls, South Dakota, to assume all of the deposits of TierOne Bank.<br /> <br /> The 69 branches of TierOne Bank will reopen during normal business hours beginning Saturday as branches of Great Western Bank. Depositors of TierOne Bank will automatically become depositors of Great Western Bank. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship to retain their deposit insurance coverage. Customers of TierOne Bank should continue to use their existing branch until they receive notice from Great Western Bank that it has completed systems changes to allow other Great Western Bank branches to process their accounts as well.<br /> <br /> The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $297.8 million. Great Western Bank's acquisition of all the deposits was the "least costly" resolution for the FDIC's DIF compared to all alternatives. TierOne Bank is the 81st FDIC-insured institution to fail in the nation this year, and the first in Nebraska. The last FDIC-insured institution closed in the state was Sherman County Bank, Loup City, on February 13, 2009.<br /> </blockquote>2. <a href="https://www.fdic.gov/bank/individual/failed/arcolail.html" target="new">Arcola Homestead Savings Bank</a> Arcola, IL<br /> <blockquote>The Federal Deposit Insurance Corporation (FDIC) approved the payout of the insured deposits of Arcola Homestead Savings Bank, Arcola, Illinois. The bank was closed Friday, June 4, 2010, by the Illinois Department of Financial Professional Regulation – Division of Banking, which appointed the FDIC as receiver.<br /> <br /> The FDIC was unable to find another financial institution to take over the banking operations of Arcola Homestead Savings Bank. As a result, checks to the retail depositors for their insured funds will be mailed on Monday. Brokered deposits will be wired once brokers provide the FDIC with the necessary documents to determine if any of their clients exceed the insurance limits. Customers who placed money with brokers should contact them directly for more information about the status of their funds.<br /> <br /> On Monday, the FDIC will mail checks to customers for their insured funds in savings accounts, IRAs and certificates of deposit (CDs). As a convenience to local depositors, the FDIC has made arrangements for the insured funds in checking, NOW and Money Market accounts to be transferred to the Arcola branch of First Mid-Illinois Bank & Trust, National Association, located at 249 W. Springfield Road. Customers will have access to their checking, NOW and Money Market account funds at this branch between Monday, June 7 and Saturday, June 12. It is important to note, however, that customers of Arcola Homestead Savings Bank will no longer be able to write checks and must come in person to either claim their money or set up a new account. After June 12, the FDIC will mail any remaining funds to the owner of these accounts.<br /> <br /> As of March 31, 2010, Arcola Homestead Savings Bank had approximately $17.0 million in total assets and $18.1 million in total deposits. At the time of closing, there did not appear to be any uninsured funds.<br /> </blockquote>3. <a href="https://www.fdic.gov/bank/individual/failed/firstnatms.html" target="new">First National Bank </a> Rosedale, MS<br /> <blockquote>First National Bank, Rosedale, Mississippi, was closed Friday, June 4, 2010, by the Office of the Comptroller of the Currency, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with The Jefferson Bank, Fayette, Mississippi, to assume all of the deposits of First National Bank.<br /> <br /> The sole branch of First National Bank will reopen on Monday as a branch of The Jefferson Bank. Depositors of First National Bank will automatically become depositors of The Jefferson Bank. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship to retain their deposit insurance coverage. Customers of First National Bank should continue to use their existing branch until they receive notice from The Jefferson Bank that it has completed systems changes to allow other The Jefferson Bank branches to process their accounts as well.<br /> <br /> This evening and over the weekend, depositors of First National Bank can access their money by writing checks. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.<br /> <br /> As of March 31, 2010, First National Bank had approximately $60.4 million in total assets and $63.5 million in total deposits. The Jefferson Bank did not pay the FDIC a premium for the deposits of First National Bank. In addition to assuming all of the deposits of the failed bank, The Jefferson Bank agreed to purchase essentially all of the assets.<br /> </blockquote><br /> <br /> <br /> <br /> <b>---<br /> go ahead share your thoughts with me now, my ears are open. I'm always eager to hear what you think. </B> <br /> <hr color=red><a href="https://www.paypal.com/cgi-bin/webscr?cmd=_s-xclick&hosted_button_id=57E97KY7C572E">Sponsor This Post(via PayPal) and Replace This Text</a>. <hr color=RED><br /> <a href="http://twitter.com/princeOFthrift" target="new">follow me on Twitter</a> <script type="text/javascript"><!-- google_ad_client = "pub-5907948404449484"; /* 125x125, created 2/3/08 */ google_ad_slot = "2280874391"; google_ad_width = 125; google_ad_height = 125; //--> </script> <script type="text/javascript" src="http://pagead2.googlesyndication.com/pagead/show_ads.js"> </script> <hr><div style="text-align: center;" align="center"><div><a href="http://www.ringsurf.com/ring/austinbloggers/">austin bloggers</a></div><a href="http://www.ringsurf.com">Powered By Ringsurf</a></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/24744976-6509937136194358153?l=www.debtfree4ever.net' alt='' /></div> <p><a href="http://feedads.g.doubleclick.net/~a/2ALPW6xmwHMmdzAEISqJ4Q7IH0g/0/da"><img src="http://feedads.g.doubleclick.net/~a/2ALPW6xmwHMmdzAEISqJ4Q7IH0g/0/di" border="0" ismap="true"></img></a><br/> <a href="http://feedads.g.doubleclick.net/~a/2ALPW6xmwHMmdzAEISqJ4Q7IH0g/1/da"><img src="http://feedads.g.doubleclick.net/~a/2ALPW6xmwHMmdzAEISqJ4Q7IH0g/1/di" border="0" ismap="true"></img></a></p><img src="http://feeds.feedburner.com/~r/debtfree4ever/HfZu/~4/-wdarPJ-Azs" height="1" width="1"/>Prince of Thrifthttp://www.blogger.com/profile/07863514672517538661noreply@blogger.com0http://www.debtfree4ever.net/2010/06/3-failed-banks-this-past-week.htmltag:blogger.com,1999:blog-24744976.post-76104940958694433232010-06-03T06:13:00.002-05:002010-06-03T11:41:01.369-05:002010-06-03T11:41:01.369-05:00<span style="font-size: large;">It's Big!</span><br /> <BR><br /> <span style="font size: x-large;"><span style="font-size: x-large;">Really Big!</span></span><br /> <BR><br /> <span style="font-size: large;"><span style="font-size: x-large;"><span style="font-size: large;">You wont&nbsp;</span></span>miss it!</span><br /> <BR><br /> <span style="font-size: large;">See what all the hype is about!</span><br /> <BR><br /> <span style="font-size: x-large;">10-10-10</span><br /> <BR><br /> <br /> <br /> <br /> <b>---<br /> go ahead share your thoughts with me now, my ears are open. I'm always eager to hear what you think. </b> <br /> <hr color="red" /><a href="https://www.paypal.com/cgi-bin/webscr?cmd=_s-xclick&amp;hosted_button_id=57E97KY7C572E">Sponsor This Post(via PayPal) and Replace This Text</a>. <br /> <hr color="RED" /><br /> <a href="http://twitter.com/princeOFthrift" target="new">follow me on Twitter</a> <script type="text/javascript"> <!-- google_ad_client = "pub-5907948404449484"; /* 125x125, created 2/3/08 */ google_ad_slot = "2280874391"; google_ad_width = 125; google_ad_height = 125; //--> </script> <script src="http://pagead2.googlesyndication.com/pagead/show_ads.js" type="text/javascript"> </script> <br /> <hr /><div align="center" style="text-align: center;"><div><a href="http://www.ringsurf.com/ring/austinbloggers/">austin bloggers</a></div><a href="http://www.ringsurf.com/">Powered By Ringsurf</a></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/24744976-7610494095869443323?l=www.debtfree4ever.net' alt='' /></div> <p><a href="http://feedads.g.doubleclick.net/~a/sM7WpxuF7uHI4o5uqVgnXp_CkYY/0/da"><img src="http://feedads.g.doubleclick.net/~a/sM7WpxuF7uHI4o5uqVgnXp_CkYY/0/di" border="0" ismap="true"></img></a><br/> <a href="http://feedads.g.doubleclick.net/~a/sM7WpxuF7uHI4o5uqVgnXp_CkYY/1/da"><img src="http://feedads.g.doubleclick.net/~a/sM7WpxuF7uHI4o5uqVgnXp_CkYY/1/di" border="0" ismap="true"></img></a></p><img src="http://feeds.feedburner.com/~r/debtfree4ever/HfZu/~4/0SFGwu6LJ50" height="1" width="1"/>Prince of Thrifthttp://www.blogger.com/profile/07863514672517538661noreply@blogger.com2http://www.debtfree4ever.net/2010/06/coming-soon.htmltag:blogger.com,1999:blog-24744976.post-54240484913197238812010-06-01T08:23:00.082-05:002010-06-03T06:29:00.945-05:002010-06-03T06:29:00.945-05:00There has been some debate about the amount of tax paid in Texas versus other states (like Kansas) that taxes everything under the sun. So I thought, I would do a little research and see what I can figure up. <br /> <br /> First lets look at sales tax, Kansas State Sales Tax (includes groceries): 5.3% (6.3% after July 1, 2010) (prescription drugs exempt); Cities and counties may add another 3%. In the city of Topeka, where I live the city and county sales tax means I pay a total sales tax of 7.95% (8.96% after July 1, 2010). <i>(Residents with income less than $30,300 and meet other qualifications can receive a sales tax refund on food, when they file their income tax).</i><br /> <br /> Now lets look at Sales Tax in the state of Texas, where the sales tax is 6.25% (groceries/non-prepared food, prescription and non-prescription drugs exempt); local option taxes can raise the rate to 8.25%. Since groceries are exempt, that is the biggest thing I spend most of my money on, so that in of itself will save me lots of money. True, I will be paying over 8% when I purchase furniture and other big items, but same is true here in Topeka after July 1, so actually even with that I will be paying less in Texas. <br /> <br /> Now what about the Gasoline Tax, here in Kansas it is 25 cents/gallon, whereas in Texas it is 20 cents/gallon. I don't use Diesel but Kansas charges 27 cents/gallon, whereas Texas only charges 20 cents/gallon. Again, it is cheaper in Texas then in Kansas. <br /> <br /> Another item that is taxed in both states is Cigarettes. Kansas the Cigarette Tax is 79 cents/pack of 20. While in Texas, the Cigarette Tax is a whopping $1.41/pack of 20. Though I don't smoke, my fiance does have an occasional cigarette. <br /> <br /> <br /> <br /> Now for personal income tax. In Kansas the state income tax range is from 3.5%-6.45% With income brackets ranging from $15,000-$30,000. There 3 different brackets in Kansas' income tax system and the exemptions are as follows:<br /> <blockquote>Personal Exemptions: Single - $2,250; Married - $4,500; Dependents - $2,250<br /> Standard Deduction: Single - $3,000; Married filing jointly - $6,000<br /> </blockquote><br /> Whereas in Texas, I will be able to keep my money, as there is no No state personal income tax. <br /> <br /> <br /> No lets move to property taxes. That is where so many people believe Texas will be more expensive. So lets, just look at the real facts. <br /> <br /> <br /> First we will start with the Inheritance and Estate Taxes, after 2009 the so called inheritance taxes has expired. So as of now, there is no such tax in Kansas. Which is also true for the state of Texas. <br /> <br /> <br /> Then there is (Real Estate) Property Taxes. <i>In Kansas property tax varies by local areas (as it does in every state), but the average is 1.25% of your home value. Meaning the average home in Kansas is worth $125,700 and would see an annual tax bill of $1,569. Whereas in Texas, there is no statewide property tax, but every local government body (city, county and school) will have property tax. The average tax rate is 1.76%. The average home value in Texas is $126,800, meaning the annual tax on that home would be $2,232. <br /> Real Property figures from <a href="http://articles.moneycentral.msn.com/Taxes/Advice/PropertyTaxesWhereDoesYourStateRank.aspx"target="new">MSN</a></i><br /> <br /> All property is appraised at full market value, and taxes are assessed by local county assessors on 100% of appraised value. The total tax rate is the sum of the rates of all applicable taxing units including cities, counties, schools, and special districts. Therefore, looking at Austin, since that's where I'm heading the property tax rate is 2.2064%, according to the Austin <a href="http://www.austinchamber.com/DoBusiness/TaxesAndIncentives/TxProperty.html" target="new">Chamber of Commerce</a>.<br /> <br /> Then there is more tax that falls under property tax, and that is the Personal Property Tax. That is the annual tax some states charge on the value of you vehicle. <br /> Again this property tax varies by county as well as the value of your car or truck. I am not sure what the percentage is, but my fiance pays about $100/year for her 1999 Subaru for the taxes and registration. I pay around $200 for my 2004 Chevy. <br /> In Texas, there is no personal property tax, but according to <a href="http://www.ourdebtblog.com/" target="new">HS</a> who lives down there, <blockquote>yearly $120 for registration and inspection fee<br /> </blockquote>. There is also a 6.5% sales tax, when you purchase the car. However, that is only one time. <br /> <br /> According to the <a href="ftp://ftp.dot.state.tx.us/pub/txdot-info/vtr/fees/fee_chart_1c.pdf" target="new">Texas Department of Transportation</a>, the fees are as follows:<br /> <blockquote>2004 AND OLDER MODELS.................................................. $40.80<br /> 2005, 2006 AND 2007 MODELS ............................................ $50.80<br /> 2008 AND NEWER MODELS.................................................. $58.80 </blockquote>With an additional $11.50 collected by Travis County (where Austin is located). Then as HS said there is the required inspections, that are not required here in Kansas. The registration fees for light trucks go by weight and as such are not figured here, but you can see those rates, on the chart provide by the <a href="ftp://ftp.dot.state.tx.us/pub/txdot-info/vtr/fees/fee_chart_1c.pdf" target="new">TDOT</a>. <br /> <br /> So overall, it would appear that as I had figured previously, I would be paying less taxes in Texas, though maybe not as much as one would think, without actually setting down and running the numbers, as I did for this post. <br /> <br /> <b>---<br /> go ahead share your thoughts with me now, my ears are open. I'm always eager to hear what you think. </B> <br /> <hr color=red><a href="https://www.paypal.com/cgi-bin/webscr?cmd=_s-xclick&hosted_button_id=57E97KY7C572E">Sponsor This Post(via PayPal) and Replace This Text</a>. <hr color=RED><br /> <a href="http://twitter.com/princeOFthrift" target="new">follow me on Twitter</a> <script type="text/javascript"><!-- google_ad_client = "pub-5907948404449484"; /* 125x125, created 2/3/08 */ google_ad_slot = "2280874391"; google_ad_width = 125; google_ad_height = 125; //--> </script> <script type="text/javascript" src="http://pagead2.googlesyndication.com/pagead/show_ads.js"> </script> <hr><div style="text-align: center;" align="center"><div><a href="http://www.ringsurf.com/ring/austinbloggers/">austin bloggers</a></div><a href="http://www.ringsurf.com">Powered By Ringsurf</a></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/24744976-5424048491319723881?l=www.debtfree4ever.net' alt='' /></div> <p><a href="http://feedads.g.doubleclick.net/~a/xz2z5brQf6Eq8A2wVlczYTSC9sU/0/da"><img src="http://feedads.g.doubleclick.net/~a/xz2z5brQf6Eq8A2wVlczYTSC9sU/0/di" border="0" ismap="true"></img></a><br/> <a href="http://feedads.g.doubleclick.net/~a/xz2z5brQf6Eq8A2wVlczYTSC9sU/1/da"><img src="http://feedads.g.doubleclick.net/~a/xz2z5brQf6Eq8A2wVlczYTSC9sU/1/di" border="0" ismap="true"></img></a></p><img src="http://feeds.feedburner.com/~r/debtfree4ever/HfZu/~4/6CmOwEXzTHQ" height="1" width="1"/>Prince of Thrifthttp://www.blogger.com/profile/07863514672517538661noreply@blogger.com4http://www.debtfree4ever.net/2010/06/real-scoop-on-taxes-texas-vs-kansas.htmltag:blogger.com,1999:blog-24744976.post-15274080175353449182010-05-31T11:53:00.002-05:002010-05-31T11:53:00.803-05:002010-05-31T11:53:00.803-05:00Today is Memorial Day, the traditional start of the grilling season. As for my fiance and I we will be grilling out after, I get off work and before we go over to do some more cleaning of an estate that she is executor of. <br /> <br /> Since today is Memorial Day, I was thinking, how many people now days really remember what this holiday is all about. If they are younger then 40, there is a good chance (sadly) that they don't. Perhaps never had it explained to them. <br /> <br /> <blockquote>Memorial Day was officially proclaimed on 5 May 1868 by General John Logan, national commander of the Grand Army of the Republic, in his General Order No. 11, and was first observed on 30 May 1868, when flowers were placed on the graves of Union and Confederate soldiers at Arlington National Cemetery. The first state to officially recognize the holiday was New York in 1873. By 1890 it was recognized by all of the northern states. The South refused to acknowledge the day, honoring their dead on separate days until after World War I (when the holiday changed from honoring just those who died fighting in the Civil War to honoring Americans who died fighting in any war). It is now celebrated in almost every State on the last Monday in May (passed by Congress with the National Holiday Act of 1971 (P.L. 90 - 363) to ensure a three day weekend for Federal holidays), though several southern states have an additional separate day for honoring the Confederate war dead: January 19 in Texas, April 26 in Alabama, Florida, Georgia, and Mississippi; May 10 in South Carolina; and June 3 (Jefferson Davis' birthday) in Louisiana and Tennessee. <br /> - <a href="http://www.usmemorialday.org/backgrnd.html" target="new">Memorial Day History</a></blockquote><br /> So there you have it, Memorial Day was a day set aside to remember those who died protecting our freedoms. Let us all get back to remembering them, and let us never forget again. God bless America!!<br /> <br /> <b>---<br /> go ahead share your thoughts with me now, my ears are open. I'm always eager to hear what you think. </b> <br /> <hr color="red" /><a href="https://www.paypal.com/cgi-bin/webscr?cmd=_s-xclick&amp;hosted_button_id=57E97KY7C572E">Sponsor This Post(via PayPal) and Replace This Text</a>. <br /> <hr color="RED" /><br /> <a href="http://twitter.com/princeOFthrift" target="new">follow me on Twitter</a> <script type="text/javascript"> <!-- google_ad_client = "pub-5907948404449484"; /* 125x125, created 2/3/08 */ google_ad_slot = "2280874391"; google_ad_width = 125; google_ad_height = 125; //--> </script> <script src="http://pagead2.googlesyndication.com/pagead/show_ads.js" type="text/javascript"> </script> <br /> <hr /><div align="center" style="text-align: center;"><div><a href="http://www.ringsurf.com/ring/austinbloggers/">austin bloggers</a></div><a href="http://www.ringsurf.com/">Powered By Ringsurf</a></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/24744976-1527408017535344918?l=www.debtfree4ever.net' alt='' /></div> <p><a href="http://feedads.g.doubleclick.net/~a/Miy_NOSfHy5AX9Zcx7LlW0FyO0k/0/da"><img src="http://feedads.g.doubleclick.net/~a/Miy_NOSfHy5AX9Zcx7LlW0FyO0k/0/di" border="0" ismap="true"></img></a><br/> <a href="http://feedads.g.doubleclick.net/~a/Miy_NOSfHy5AX9Zcx7LlW0FyO0k/1/da"><img src="http://feedads.g.doubleclick.net/~a/Miy_NOSfHy5AX9Zcx7LlW0FyO0k/1/di" border="0" ismap="true"></img></a></p><img src="http://feeds.feedburner.com/~r/debtfree4ever/HfZu/~4/sgTa2k05_DM" height="1" width="1"/>Prince of Thrifthttp://www.blogger.com/profile/07863514672517538661noreply@blogger.com0http://www.debtfree4ever.net/2010/05/memorial-day.htmltag:blogger.com,1999:blog-24744976.post-38579571025127788252010-05-27T08:24:00.019-05:002010-07-19T06:00:06.833-05:002010-07-19T06:00:06.833-05:00<a href="http://www.kiplinger.com/guides/best-cities/" target="new">Kiplinger</a> magazine's list of "Top Ten Cities for the Next Decade," was announced Wednesday. <br /> <ol><li><a href="http://www.kiplinger.com/magazine/archives/best-cities-2010-austin-texas.html" target="new">Austin, TX</a></li> - <a href="http://www.kiplinger.com/guides/best-cities/" target="new">Kiplinger</a> <blockquote>Everything may be bigger in Texas, but Austin’s genius is nurturing the power of small. Just ask Rob Neville, who wants to develop his biotech firm, Savara Pharmaceuticals, into a major player in the field of inhaled-drug therapy. The firm started in Kansas, but Neville transplanted it to Austin because the city is arguably the country’s best crucible for small business. - <a href="http://www.kiplinger.com/guides/best-cities/" target="new">Kiplinger</a> </blockquote>Similar lists, listing Austin at the top of quality of living lists was another factor, in my fiances and I deciding to move to the Capital City of Texas. <li><a href="http://www.kiplinger.com/magazine/archives/best-cities-2010-seattle-wash.html" target="new">Seattle, WA</a><br /> </li> <li><a href="http://www.kiplinger.com/magazine/archives/best-cities-2010-washington-dc.html" target="NEW&quot;">Washington, DC</a><br /> </li> <blockquote>Every tourist knows postcard D.C., the city that is home to the White House, the Capitol and all those free Smithsonian museums. But those of us who live in D.C. know better. Our home is chock-full of job prospects, entertainment venues and great neighborhoods, and it is booming. Blame it on big-government spending or credit Obama mojo, but the federal city is growing. D.C. proper, which now has a population of about 600,000, gained more new residents between July 2008 and July 2009 than in any other one-year period since World War II. - <a href="http://www.kiplinger.com/guides/best-cities/" target="new">Kiplinger</a> </blockquote><li><a href="http://www.kiplinger.com/magazine/archives/best-cities-2010-boulder-colo.html" target="new">Boulder, CO</a><br /> </li> <li><a href="http://www.kiplinger.com/magazine/archives/best-cities-2010-salt-lake-city-utah.html" target="new">Salt Lake City, UT</a><br /> </li> <li><a href="http://www.kiplinger.com/magazine/archives/best-cities-2010-rochester-minn.html" target="new">Rochester, Minn</a><br /> </li> <li><a href="http://www.kiplinger.com/magazine/archives/best-cities-2010-des-moines-iowa.html" target="new">Des Moines, IA</a><br /> </li> <li> <a href="http://www.kiplinger.com/magazine/archives/best-cities-2010-burlington-vt.html" target="new">Burlington, VT</a><br /> </li> <li><a href="http://www.kiplinger.com/magazine/archives/best-cities-2010-west-hartford-conn.html" target="new">West Hartford, CT"</a><br /> </li> <li><a href="http://www.kiplinger.com/magazine/archives/best-cities-2010-topeka-kan.html" target="new">Topeka, KS</a><br /> </li> Another survey had Topeka as one of the top midsized cities to live and work. A fact that I have enjoyed. While other cities unemployment are in the double digits, Topeka has remained below 7%. This was one of the toughest reasons to leave the city that I love, but Austin is the number one large sized city to find jobs in the country. <blockquote>In its reserved, Midwestern way, Topeka has engineered a prosperity that most cities of similar size would envy. As the capital city of Kansas, nearly 25% of Topeka’s workforce is employed by the government, providing a stable job market. While unemployment rates have soared into double digits in some parts of the country, Topeka’s has stayed around or below 7%. - <a href="http://www.kiplinger.com/guides/best-cities/" target="new">Kiplinger</a> </blockquote></ol><b>--- go ahead share your thoughts with me now, my ears are open. I'm always eager to hear what you think. </b> <br /> <hr color="red" /><a href="https://www.paypal.com/cgi-bin/webscr?cmd=_s-xclick&amp;hosted_button_id=57E97KY7C572E">Sponsor This Post(via PayPal) and Replace This Text</a>. <br /> <hr color="RED" /><a href="http://twitter.com/princeOFthrift" target="new">follow me on Twitter</a> <script type="text/javascript"> <!-- google_ad_client = "pub-5907948404449484"; /* 125x125, created 2/3/08 */ google_ad_slot = "2280874391"; google_ad_width = 125; google_ad_height = 125; //--> </script> <script src="http://pagead2.googlesyndication.com/pagead/show_ads.js" type="text/javascript"> </script> <br /> <hr /><div align="center" style="text-align: center;"><div><a href="http://www.ringsurf.com/ring/austinbloggers/">austin bloggers</a></div><a href="http://www.ringsurf.com/">Powered By Ringsurf</a></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/24744976-3857957102512778825?l=www.debtfree4ever.net' alt='' /></div> <p><a href="http://feedads.g.doubleclick.net/~a/Cai5kuMtAjOCGdAkXk1s_cv2t_o/0/da"><img src="http://feedads.g.doubleclick.net/~a/Cai5kuMtAjOCGdAkXk1s_cv2t_o/0/di" border="0" ismap="true"></img></a><br/> <a href="http://feedads.g.doubleclick.net/~a/Cai5kuMtAjOCGdAkXk1s_cv2t_o/1/da"><img src="http://feedads.g.doubleclick.net/~a/Cai5kuMtAjOCGdAkXk1s_cv2t_o/1/di" border="0" ismap="true"></img></a></p><img src="http://feeds.feedburner.com/~r/debtfree4ever/HfZu/~4/X8kMcqQ2O38" height="1" width="1"/>Prince of Thrifthttp://www.blogger.com/profile/07863514672517538661noreply@blogger.com5http://www.debtfree4ever.net/2010/05/kiplingers-best-cities-2010.html