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Consumer debt is on the rise, and the situation is fast becoming a full-blown crisis. Here's an example of one person we read about in USA Today: Phyllis Coleman saw her mortgage payment jump 26% last year, so she began withdrawing cash from her credit cards to pay the mortgage. That worked for a short time, and then she maxed out on the cards' credit limit. She defaulted on her mortgage and now faces foreclosure. It's a sad story that's playing out time and time again across the country as gas, food and everything else costs more. Consumer credit increased 3.6% in May, and total debt is now $2.57 trillion! Whether you're using your credit cards more or not, you can put more of your hard-earned money back in YOUR pocket. Start with these 6 easy ways to tame the credit card beast. Just hearing the words "bank failure" strikes fear in your heart, doesn't it? After all, banks are one of those things in life we've come to count on. We need to know our money is safe. Even this most basic of confidences has been shaken recently. As you probably know, IndyMac bank was taken over by the Federal Deposit Insurance Corporation (FDIC) late on Friday. Unfortunately, there are probably more takeovers to come. The FDIC says the number of banks at risk of failing has doubled recently. Like it or not, we all need to know what to do if we find ourselves in this situation. Here are 5 things you must know to survive a bank failure, including the guaranteed way to hang on to your money.
We see hundreds of news stories every week as we stay on top of what's happening in the stock market, personal finance and anything else that helps us help you with your money. So, it really does take a lot to shock us anymore, but even we were absolutely floored by one story we just saw. It concerned the tax rebate checks we're all receiving as part of the economic stimulus package passed by Congress earlier this year. Sounds pretty benign, right? Well, the story talked about what people are spending this "found" money on. You'll never guess it in a million years what some people are doing with this money…or will you? Click here to see if you're right! Sincerely,
Ken & Daria Dolan P.S. We're hearing from a lot of folks who are worried that the bear market and recession are ruining their retirement. It's scary out there, but there are plenty of actions you can take today to ensure you have a safe, secure, worry-free retirement tomorrow. Start by steering clear of five dangerous retirement traps we want to warn you about now. |
Even with the tax rebate checks arriving in many mailboxes, revolving credit, including credit cards, increased in May! In fact, credit card use is increasing dramatically as more and more folks have trouble meeting their monthly expenses. 
Here's the good news, ladies: You're living longer than men in retirement! (Sorry, guys.) 
You're going to love this one! When you open a new bank account, order checks with a high number, such as 500 or 1,000. Number 1 or even 100 on a check lets the whole world know you're new in town. Shopkeepers may even decline a check from the "new kid on the block."
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