27 May 2011
Credit card companies are battering consumers across the board with monstrous fees, high interest rates and disappearing rewards. If you signed up for a credit card in the past year, the chances are – you’ve been ripped off. Your interest rate might have gone up, had your credit limit reduced, or your credit card issuer gutted your rewards.
23 May 2011.
Unacceptable unemployment figures is the top concern of EconomyWatch readers, and who’s to blame them? The US, as well as other countries hit badly by the 2008 financial crisis continue to struggle bringing unemployment levels back to pre-crisis levels. In the meantime, hundreds of thousands of people remain jobless and financially crippled with no sight of light at the end of the tunnel.
21 May 2011.
In the US, consumers and households are dangerously in debt. Even after the catastrophic financial crisis in 2008, it seems in 2010 lessons from past mistakes have not been learned and taken on board. The Federal Reserve is looking at $2.4 trillion in unsecured debt. And the numbers just keep rising.
Eighty-eight million accounts and credit lines representing $751 billion in credit have been closed since September 2008.
Here are a dozen alarming consumer debt statistics:
There comes a time for everyone when you need a loan, and need it now. But for those with a bad credit rating, getting approved for a loan can be tricky business. No matter how desperate you are, be weary of easy approval loans if you have bad credit. Some companies are simply out there to take advantage of a bad credit rating to charge sky high interest rates on personal loans.
Check out this infographic that shows how finance companies shark on low-end consumers:
You know, I’ve heard about personal loan offers and promotions but never looked into one. This week I wondered, what’s the difference between a personal loan, a cash loan and a plain ‘ole credit card (apart from the fact that you don’t want a cash advance at 18 percent compounding interest on your Visa thank-you-very-much). And, when should I use a personal loan over a cash loan or credit?
27 April 2011.
Standard and Poors’ decision to cut its outlook for US debt to “negative” came as a surprise to many market watchers. The unprecedented move has reaffirmed the role rating agencies have in determining the prospects of national economies, much to the chagrin of many politicians. One main reason the S&P’s pessimism rattled markets was its novelty.
Are You Careless With Your Cash? You’re Not Alone.
Credit: emdot
23 April 2011.
Beat The Banks At Their Own Game
Credit: reallyboring
16 April 2011.
8 April 2011.
You can be in a relationship and still be single, financially. Couples in long term and serious relationships who put off marriage for their careers and a myriad of other reasons, don’t think twice about neglecting to discuss joint financial arrangements – or bank accounts.
Even though one of the most common causes of a relationship breakdown it turns out, is: money.
Apparently heeding St Warren of Buffett’s maxim to be greedy when others are fearful,
American investors poured $1.2 billion last week into Japanese equity exchange-traded funds, or ETFs, according to new data.
It was the biggest weekly inflow on record, a trend suggesting that some investors are already betting that the crisis may be just an interruption to a market rally.
On March 16 alone, five days after the earthquake and tsunami and as the nation’s nuclear crisis was worsening,
