myLot Discussions on Personal Finance Software| When banks turn evil | | Banks have to make money to stay in business. I was an economics major, so I get that.What I don't get is why so many consumers do nothing as banks get bolder and bolder about picking their pockets. It's no longer nickel-and-diming -- we're losing $10, $20 and $30 a pop as banks come up with ever-more-creative ways to "fee" us to death. The banking industry collects more than $50 billion a year in various service charges, more than twice the total of a decade ago. It's time we pushed back. Sometimes just shining the light of scrutiny on these policies is enough to get banks to back down; read below about what happened recently with ING Direct bank. Other times, we need to protest, involve our lawmakers or even move our money elsewhere.Here are some of the most egregious practices, and what you can do about them:Checks clear almost immediately; deposits take days
In recent years, changes in federal laws have all but eliminated "float" -- the time it takes for a check to clear from the writer's bank account. What used to take days now often takes hours or less. What hasn't been speeded up is the time it takes for deposits to clear and be available for your... | |
| | Personal Finance Problems (Credit, Real Estate, Debt) | | I am in search of advice and possible solutions, if at all possible. Just like many other Americans, I am feeling a financial squeeze, and I am not sure what the best path would be for me to take to get back on more solid ground. First, some background:I inherited a very old, frame house in 2007 that also has an adjacent lot and in need of repairs ("AS-IS"). I also live in a very low-income, depleted area where most homes have already gone into foreclosure, and/or selling very low. My home, a multi-family 3-unit, was once worth about $250k, was listed for $150k, and is now at $119k. I have been trying to sell the place on/off--at least 3-times--since I inherited it, but have had no takers. I was really hoping to sell by this year so that I could have a fresh start in a new and better direction. However, I am now struggling just to make ends meet.I have a lot of credit card debt now, paying on a $56k HE loan (2 yr.), and my income is not allowing me to save any kind of money. In fact, my savings are being depleted and I am basically living paycheck to paycheck now. My property taxes for the house AND lot average around $4600/yr., and I won't be able to pay them at all after... | |
| | Personal finance - how do you save? | | We are always told that we should save more. Pay off our mortgage, avoid debts, save for retirement.But saving can be difficult if the money hardly stretches to the end of the month.Do you manage to save? Do you save regularly or whenever there is a litte bit to spare? | |
| | Dear mylotters, I need your help on something about personal finance. | | Here's the thing, this coming semester, I was tasked to create syllabus for a new subject called Personal Finance.So, here I am wondering, with the broadness of the subject matter, what would you like to know if you were a student of such a course?Can you list down at least 5?Thanks for the help.ow, paying on a $56k HE loan (2 yr.), and my income is not allowing me to save any kind of money. In fact, my savings are being depleted and I am basically living paycheck to paycheck now. My property taxes for the house AND lot average around $4600/yr., and I won't be able to pay them at all after this year. I know that I will likely have to face bankruptcy at some point, though I would like to avoid it if I possibly can.Though I have not checked it yet, I believe that my credit score is probably low due to a couple of late credit card payments and a couple of NSF's at my bank since last November. Before that, I never had any problems, and always paid my bills on time. (NOTE: auto-payment timing and overdraft fees caught me off guard, and now I'm paying for it.) What the credit card companies did with increasing rates and lowering limits... | |
| | personal finance | | i found a good blog about personal finance.If you have a interesting in it.you can go to here:
http://www.personalfinancereview.net | |
| | | Art of personal Finance | | It’s one of those “deep-thought” days when I switch myself into a philosophical mode. Sometimes, this results in some extreme contemplation about the things I have been generally doing in my life. This time it was all about financial contemplation. The choice of the title is obviously inspired by the book “Zen and The Art of Motorcycle Maintenance” by Robert Pirsig. Before I start my rant, let me give you a very brief summary of what is the concept of Zen. It essentially means going back to the basic fundamentals, starting from zero, and building your way up (Robert Pirsig’s Zen, not the original Zen). This much knowledge is sufficient for the purpose of this article. Your financial life is a big machine with a lot of odds and ends thrown into it. To maintain this beast, you require some kind of financial prudence. Now, if there is a problem with this machine, the*Zen* way is to start looking at some fundamental issues. To do that, you have to take it apart and try to put it back together. In doing so, you will realize the significance of each component. This is exactly what I will attempt to do in the following. | |
| | Do you think students should take a Personal Finance class in high school? | | I've been thinking a lot lately about the subjects I learned in high school here in the US and how they relate to my life. One major subject that I think is missing from schools a Personal Finance course. Yes, we take mathematics but I think everyone could benefit from taking a Personal Finance course that just explains the basics of budgeting, how credit works, and basic investment options. I am just looking at where I am now as a 23 year old and thinking "wow, if I knew that sooner I would have done things differently!" What do you think? Are there any other courses you think students should take in high school? | |
| | Did someone teach you about personal finance? | | I have been reading books on subjects like finance, investing, and success and I am realizing how many people struggle with money just because they were never taught how to handle their finances. I think that it's a subject that is so important to be financially stable, yet no one really knows how to handle it. Unfortunately our high schools don't teach this subject, but I believe it to be one of the most important. | |
| | Your Personal Source | | As I get older all the financial skills I need to learn are online and from my own individual self. I know money is not something you learn immediately as it is a life education. Some of us are lucky to have sources to guide us in the right direction, I wish I had one without spending so much whether it be marketing or millionaire's club. Do you have a personal source that helps you to financially achieve your goal and or get where you want to financially in life? If not, how did you teach yourself the skill that matters most? Were you in a pressured situation or hardship which force you to learn these skills? | |
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