Best Money Tips: Recession Gives Rise to Bad Haircuts

By Linsey Knerl on 2 September 2009 2 comments
Photo: Kevin McGrew

Welcome to Wise Bread's Best Money Tips roundup. This week brings a brief explanation of yard sale litigation, how the recession is bringing in some bad hair business, and the top ten places to relocate or retire. (Plus, check out an amazing video!)

Top 5 Articles of the Week

Every Penny Counts Video – The often overlooked unit of currency can have a big effect on your financial future. This ingenious video made by Josh Chan, as part of Stanford FCU’s video scholarship contest, should be a winner! Bargaineering

Having a Yard Sale? Don’t Break the Law – There are many things that you could sell at a yard sale and get in trouble, as a result. Nope, we’re not talking prescription drugs, stolen stereos, or bathtub gin – it’s the baby cribs that could get ya! Learn how recalled products can stay off your sale tables, and how you can avoid surprising legal woes. Smart Spending

Nothing Simple about Food Dating, Expiration Dates, or ‘Use-By’ Dates – What is up with the “freshness” dates printed on foods these days. Are they OK to eat past their due dates? Is there a bit of wiggle room? Who decides what’s safe? This article clears up a good portion of the confusion. Consumer Affairs

12 Critical Things Your Family Needs to Know – If you left the world today, with no warning to your family, would they have the info they needed to keep things under control? Most of us are unprepared to pass on the facts about insurance, organ donation, and debt. Get some peace of mind with this list of lists. Free Money Finance

Some Thoughts on Building a Successful Friendship – It’s a topic that we all come back to several times in our lives: friendships. As an adult, things are a bit more complicated than declaring your school bus seatmate a “BFF”, and it’s good to read a well-thought out list of truths that can be useful for a lifetime. The Simple Dollar

 

Other Essential Reading

Recession Gives Rise to Bad Haircuts, Cowlicks – While salon business isn’t exactly booming, corrective hair styling sessions are on the rise. Wall Street Journal via Consumerist

How to Save $1,000 or More on Moving Costs – Our own Frugal Duchess shares these tips for drastically cutting costs when you change residences. One tip: stay flexible for savings of up to $600! Relocation.com via Frugal Duchess

Top Ten Places to Relocate or Retire – There are over 100 fabulous places mentioned in this roundup originally provided by Money Magazine. See what destinations took the top ten spots. Money Magazine via Frugal Dad

Condiments, Sauces, and Seasoning Recipe – If paying over 50 cents for a packet of taco seasoning seems insane, help is on the way! This list of DIY quick mixes and sauces is a life-saver, giving you the dirt on how to make your own chocolate sauce, garlic croutons, baking powder and pumpkin pie spice! Kitchen, Crafts & More

The Case for Debt Elimination Over Savings – What? What would Suze Orman think? This brief explanation of another way of thinking is a great read! I’ve Paid for This Twice Already

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Andrea Karim's picture

I cannot WAIT until I have children, specifically so I can give them bad haircuts. It's a genetic thing. The Polish part of me can't resist too-short bangs.

Guest's picture

An recession policy is a combination of insurance and investment: recession policy has typical maturities of ten, fifteen or twenty years up to a when job get retired. The life of the individual taking the policy is insured for a certain amount. This life cover is referred to as the sum assured. recession Policy combines the risk cover with financial savings. Historically recession policies have been the most popular policy in the world of life insurance. This is because people still consider “recession plan” as an investment rather than “pure insurance”.

In an recession Policy, the sum assured is payable even if the insured survives the policy term; if the insured dies during the term of the policy, the insurance firm has to pay the sum assured like any other pure risk cover. A pure recession policy is also a form of financial saving, whereby if the person covered survives beyond the tenure of the policy; he gets back the sum assured with some other investment benefits.

An recession policy may declare a bonus every year: The money that is invested generates a certain return every year. This return may be declared as a bonus. The bonus is typically generated as a certain proportion of sum assured or life cover as it is popularly known. However, the bonus declared does not compound it, only accumulates over the life of insurance; thus, returns are low.