Individuals around the country are creating new forms of social infrastructure to solve problems collectively that they could not solve as individuals. They are coming together in “Villages” to meet common needs at reasonable prices that members may not be able to manage alone such as transportation, financial planning and entertainment. Some also serve as… Read More
Payroll tax affecting consumers (as reported by Hadley Malcolm via usatoday.com)
In the month of January, employees may have noticed that their pay check became a bit smaller. One explanation for this change is the expiration of the Social Security payroll tax, which had been cut since 2010, but rose again at the end of 2012. A recent article offers some early notions of how this… Read More
Tools to reduce debt (as reported by Anne Tergesen via wsj.com)
There are a number of new and free online tools to get your financial house in order, writes Anne Tergesen of the Wall Street Journal. With a growing number of Americans headed to retirement with a mortgage, there are now several resources that consumers can use to reduce and consolidate their debt. Click here for… Read More
New Year’s financial resolutions! (as reported by Divya Rahhavan via nerdwallet.com)
It is a new year, time for resolutions! Many people include a financial resolution or two on their list. Check out what Nerd Wallet has compiled as some of the best New Year’s financial resolutions—you’ll find the traditional ones like paying off debt, and many others that might just give you an idea of… Read More
Untraditional bank proving popular with consumers (as reported by Jenna Wortham via nytimes.com)
In a time of increased regulation and pressure on banks, consumers find themselves on the hook for more fees and penalties. Simple, an online banking startup based in Portland, Oregon is looking to change that. Not only does the company refuse to charge any fees to its customers for banking products, but Simple offers customers… Read More
Author working to dispel financial planning myths (as reported by Sam Knight via bloomberg.com)
Sam Knight at Bloomberg reviews a new book on financial literacy that debunks the ideas of some of America’s most renowned financial experts. Despite the vast increase in financial advisers and planning resources, author Helaine Olen contends that many widespread ideas are simply false. For example, her book dispels the famous notion that forgoing that… Read More
Estate planning for every age (as reported by G.M. Filisko via bankrate.com)
Each stage in one’s life presents a different set of circumstances for estate planning. This detailed article outlines exactly what steps should be taken at each of life’s major turns—from being young and carefree and leaving the major financial or medical decisions to parents or guardians—to life as a retiree and naming a power of… Read More
Company’s change to 401(k) plans show need for savings in employee benefits (as reported by Sarah Frier via bloomberg.com)
In what is currently uncommon, IBM announced last week that it will switch to an annual lump sum contribution to its employee 401(k) retirement plans. This change will reduce IBMs retirement contribution expenses by millions. Being one of the largest companies in the world with over 400,000 employees, this change may well spread to other… Read More
Shopping for a checking account (as reported by Elizabeth Dexheimer via bankrate.com)
Consumers are facing some hard decisions when it comes to finding the right bank account. As a result of the recession and new regulations on banks, fees are on the rise. When looking for a secure place to store one’s money, consumers should do some serious research as the fees and requirements vary widely from… Read More
Scams rise after natural disasters (as reported by Paul Wagenseil via yahoo.com)
It is an unfortunately common occurrence—when people are already reeling from a natural disaster, another blow strikes—the scam artist. After many natural disasters, including the most recent Hurricane Sandy, there is a sharp increase in fraudulent activities. This article explains what people should be weary of at this time of crisis—from price gouging to false… Read More