Spending is Up, Savings are Down, and Salaries are Flat

by BigSpender on March 10, 2010

The Great Recession – it began in December 2007 and we may be officially climbing out of it now. Unfortunately it appears as though our nation is dealing with a jobless recovery. Yesterday, I discussed that fewer Americans are saving for retirement than just a year ago. Today I’m building on that – not only are savings down but spending is up despite the fact that salaries remain relatively flat.

This video from CNN explains it a bit more.

{ 0 comments }

Fewer Americans Saving for Retirement

March 9, 2010

While taking the kids to school this morning, I heard a shocking statistic on CNN Headline news. More than one-fourth of American workers have less than $1,000 in their retirement savings account. In its most recent survey, the Employee Benefit Research Institute found that 27% of American workers have less than $1,000 in [...]

Read the full article →

CARD Act of 2009 – Credit Card Reform Q&A

February 22, 2010

As promised, here is a video from the Credit Card Accountability, Responsibility, and Disclosure (CARD) Act of 2009 live chat hosted by CreditCards.com on February 22, 2010.

Note to email subscribers: There is a video embedded in this post, please click through to the blog to view the video.

Read the full article →

CARD Act of 2009 Goes Live

February 21, 2010

Tomorrow, the Credit Card Accountability, Responsibility, and Disclosure (CARD) Act of 2009 goes live. According to the White House Blog, “The law bans unfair rate increases, prevents unfair fee traps, requires plain language in plain sight for disclosures, increases accountability all around, and institutes protections for students and young people just for starters.”
If you [...]

Read the full article →

Personal Finance: What are Sinking Funds?

February 12, 2010

If you’ve heard the phrase “sinking funds” and wondered how it pertains to personal finance, this is the blog post for you. A sinking fund is simply a pool of money that you use to save for a specific expense. For example, if you own a car then you know that the car [...]

Read the full article →

← Previous Entries