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
U.S. taxes, a global comparison (as reported by Roberton Williams via taxpolicycenter.org)
Do Americans pay too much in taxes or too little? According to the Organization for Economic Cooperation and Development (OECD), U.S. taxes are low in comparison to other developed countries. In 2008, U.S. taxes were 26% of Gross Domestic Product (GDP), while the average for the 33 member countries was 35%. The highest percentage went… Read More
10 most common personal finance mistakes (as reported by Jennifer Leigh Parker via cnbc.com)
In this informative slideshow, you can learn what financial advisers have identified as the ten most common mistakes that people make with their money, many of which could be easily prevented! From paying too much for insurance to not checking your credit report often enough, learn what you can do to avoid these common errors. Click here to watch… Read More
Where are Americans spending their money? (as reported by Lam Thuy Vo and Jacob Goldstein via npr.org)
Most of the money that the average American spends goes to housing costs–31.5% for rent and mortgages. This is followed by 8.6% in food, according to government data. For over 60 years, housing and food have remained the biggest categories. However, back in 1949 Americans spent 40% of their money on food while today that… Read More
Fraud, identity-theft complaints up 19% since 2010, 800% since 2000 (as reported by consumer reports via finance.yahoo.com)
Even as the economy moves through a slow recovery phase, fraud cases are higher than they’ve ever been. There are more schemes related to investments, mortgages, and the internet, according to the FBI. Scammers are becoming more clever and convincing, always inventing new ways to catch consumers. In this article, Consumer Reports researched some of… Read More
Change on the horizon for gift and estate tax (as reported by Sharon Epperson via cnbc.com)
Those planning on giving a large amount of money to their children or grandchildren should consider doing it before the New Year. Beginning January 1, 2013, the amount of money parents or grandparents are allowed give to children for education support might change. Currently, the maximum amount that a single person can transfer to their… Read More
Suze Orman’s do’s and don’ts (as reported by Suze Orman via oprah.com)
In this article, Suze Orman, a best selling author, television host and one of America’s most popular financial advisers offers the “do’s and don’ts” on some of the biggest financial decisions people make, from car loans to college planning. To read Suze Orman’s helpful financial tips, click here! Read More