It’s unfortunate that some of the most under-reported financial crimes have nothing to do with banking, instead they have to do with romantic partners who cheat and steal from their partners. The embarrassment of having been taken by someone you loved or trusted is so over-powering that victims rarely report or prosecute people who steal from them. You may think you’re building a dream life together only to wake up and find out someone else has gotten a no credit check payday loan in your name, and you’re responsible for repayment. How can you protect yourself from this increasingly growing crime? Take note to maintain your privacy, and your wallet, as you engage others in intimate areas of your life. (more…)

To get ahead in life by securing a great paying and secure job, one of the best things a person can do is complete his or her education. The number of years in college would depend on the degree being earned and the job focused on, which ranges anywhere from two to ten years or more. While some people are more interested in doing something they love, others look at career opportunities based on pay and then decide what they want to be. Regardless, people should take time to learn about the starting salary after college for various career paths. (more…)

Losing money is something that we hope never happens and we take safeguards to assure that this is the case. Most of us use the bank to store our money and we do feel confident that the banking system will take of it as it should. We do not think about keeping too much cash at our home because we fear it may be stolen. But one woman in Israel has taken it a step further and has recently thrown out an old mattress containing her entire life savings, almost $1 million dollars. (more…)

Many retail foods, from breakfast cereal to juice jugs, are growing smaller by the day, as companies fight to maintain profits without losing customers. With the rise in raw ingredient and fuel prices, though, something’s got to give, and most retailers have decided that a product’s cost to consumers won’t be that something. Therefore, retail products will see a small rise in price and small reduction in size, maximizing profits while keeping consumers in the relative dark. (more…)

photo credit: ellievanhoutte

It’s not always easy to each cheap and healthy, but many consumers are slowly realizing that their local grocery store may hold the key: prepared food counters. In fact, grocery stores say that they’ve seen a sharp increase in the popularity of these foods, and have in turn improved selections to account for more varied diets and nutrition. (more…)

photo credit: pnwra

The U.S. housing crisis has caused much hardship and now, experts say that it has begun to affect many American’s retirement possibility and prosperity. Indeed, in addition to losing their homes and businesses, many citizens have also seen a marked decrease in their 401(k), IRAs, and other investments.

Stocks and investments fluctuate constantly; in the 90s, tech stocks were hot, in this decade, real estate was the favorite choice. Many of those investors who chose real estate have now found that, though they may still own their home and live a relatively comfortable life, their portfolio has likely lost value. In fact, CNN Money goes so far as to say that “big bets on the investment du jour are more often a recipe for downsizing your wealth than growing it.”

Indeed, no matter how much you invest, you should always keep some money in hard-cash saving. Your home, though it used to be a sure thing, can no longer be considered an unbeatable investment: A home’s value, especially in today’s market, can show bloated values one day and a shocking loss almost the next.

As we move into a new age of investment, be wise and diversify. Don’t be afraid to invest in the market or to purchase your own home, but remember that cold, hard cash invested in interest accounts will never lose value, except against inflation.

Overdraft protection is a simple concept: If you incur charges to your bank account without having sufficient funds to cover that charge, your bank will temporarily “loan” you the difference for a flat, $25-35 fee. For many, though, overdraft protection is more hindrance, less help, as bank customers get slammed with multiple fees.

Many banks have the policy that larger transactions get debited first. Therefore, if you have $100 in your account, and charge $10, $10, $150, your $150 transaction will be debited first, incurring you three $35 dollar fees instead of one, despite the chronological order of your transactions. Given this scenario, many believe that this bank “service” is anything but, hurting those who can least afford it.

Nevertheless, incurring any overdraft fee is a poor financial practice. Basic skills, like knowing how to balance a checkbook, will help anyone prevent spending more than he or she earns. Simply put, expenses should not exceed income, and overdraft fees will not occur.

Banks, on the other hand, claim that overdraft protection is a valuable service meant to help. “We process checks and other debits starting with the largest amount. That way, important, large bills such as mortgages, rent and car payments will be paid first,” spokesman for Chase bank, Tomy Kelly, said.

Overdraft protection, depending on your side of the bank statement, can be a very positive, helpful service. However, many have expressed their desire for it to be opt-in, so that those customers who prefer for checks to bounce, will be able to elect that option.

photo credit: G & A Sattler

Saving money isn’t always easy, especially with gas prices on the rise, little job stability, and an economy that feels quite recessed. It’s all about being frugal though, and a look at your finances and spending habits should help you identify where you can save. For a little inspiration, check out these five easy ways to save money:

• Buy in bulk: Many items on your grocery list can be bought in bulk, such as canned goods, Ziploc bags, and juice packs for your kids’ lunches. Buy several months’ worth of these goods, and you’ll not only reduce your per-item cost, but you’ll save money on fewer car trips to the store.
• Shop used: Stores like eBay, Craigslist, and your local classifieds are a great way to buy at a reduced cost. Don’t shy away because used sounds like a bad word - many used items are barely used, in great condition, and can be bought for just a fraction of a lesser-quality equivalent bought new.
• Avoid ATM fees: This seems simple, but check out your monthly bank statements. If you’re paying for ATM withdrawal fees, you’re wasting your hard-earned cash.
• Write it all down: For the next three months, write down every, single purchase you make, right down to the newspaper and coffee that you pick up at the convenience store. By forcing yourself to note every expenditure, your spending will go down almost on its own.
• Save every $1 bill: This one is a little more involved, but commit yourself to saving every $1 bill ($5, if you’re brave) that passes through your hands. You can save hundreds of dollars a year this way!

photo credit: Logan Antill

You’ve seen the commercials and can probably sing along to the catchy theme songs - free credit reports are widely available, and everyone seems to want to get your yours. But buyer beware, many of the free credit report websites and companies actually charge for their services, merely luring you in with one, free credit report.
To sign up for many of these sites, you’ll need to provide your credit card. Read the fine print, because in most cases, your credit card will be charged for monthly site subscription fees, which will generally monitor your credit report and let you know of any activity.
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photo credit: WTL photos

Frequent Flier Miles have always been the airline’s gift to its most frequent customers, and a great way to earn a free trip. Now, though, frequent flier miles seem to be losing their value, as high oil prices, airline bankrupcies, and economy problems rock the market. Today, fliers need to ask themselves, “Should I cash in my frequent flier miles?”
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