Xin Lu's blog

We Are Our Own Worst Enemy

Today my friend sent me an article titled "We Have Met the Enemy" by Knight Kiplinger, the Editor in Chief of Kiplinger publications. It is a blunt article pointing out that Americ

Are $1 homes worth buying?

This week a story from The Detroit News reported that homes are being listed in Detroit for $1. One particular $1 home sold for cash after being on the market for 19 days. The buye

Having a baby? Nine financial considerations for new parents

My friend recently had a baby girl and she told me about the costs for a normal pregnancy and delivery. To say the least I was a bit flabbergasted that over $25000 was charged for

Is living on one income a status symbol?

Recently CNN published an article titled "No kids, no jobs for growing number of wives ". This article profiled two women who are stay at home wives with no kids. A quote from the

How Do You Deal With Family Members Who Are Bad At Managing Money?

You know who I am talking about. Most of us have that one brother who blows his paycheck in a day or a cousin that has no money for retirement. No family is perfect, and we all te

Why Is "Rich" Often Equated With "Evil"?

I was born in China and it was a place where wealthy people were the public enemy for many decades. The sentiment was spread by the propaganda of the Communist government and res

Turn Unwanted Electronics Into Cash With Gazelle

We all have a few old electronics lying around that we never use anymore. It seems a waste to just throw them away, but it often takes effort to sell them. Now there is a new ser

Seven Tips for the Newly Unemployed

The unemployment rate in California surged to 6.9%, and that is equivalent to the rate in early 2003. Most news reports say that unemployment will probably go up a bit more in the

The Questionable Aspects of The Housing Bailout Bill - H.R. 3221

In my last article I wrote about the one aspect of the $300 billion dollar housing bailout that I thought made sense, but the full text of the bill known as H.R. 3221 is over 700

Seller Funded Down Payment Assistance Charities - Scammers or Saints?

The United States House of Representatives just passed a massive mortgage bailout bill that includes many changes to the Federal Housing Administration and the Government Sponsored

The Federal Minimum Wage Increases This Week - Are You Getting a Pay Raise?

On July 24th, 2008, the Federal minimum wage in The United States will increase from $5.85 per hour to $6.55 per hour in accordance to the 2007 amendment to the Fair Labor Standar

Not Rich Enough and Not Poor Enough

Most of my highschool classmates came from middle class families that were not extremely rich. During senior year, I noticed a situation where families were not wealthy enough to

The Pros and Cons of Paying Cash for a House

Just like any financial decision, there are pros and cons to paying cash for a house.

So Your Bank Failed, Now What?

Last week I wrote that ailing banks usually give the highest interest rates and mentioned the troubles of IndyMac. Last Friday, the FDIC has officially named IndyMac a failed bank

Book Review: Full of Bull - Do What Wall Street Does, Not What it Says by Stephen McClellan

Stephen T. McClellan is a seasoned securities analyst who has more than 32 years experience with several different well known investment firms. In his book Full of Bull- Do What W

How Wealthy Are You Beyond Your Bank Account?

On my previous article about working to death I found a pretty long comment by a woman named "Jen" who has a husband that works seven days a week to provide for his family. This l

Your Work or Your Life?

Today my friend showed me an article about a Toyota engineer who died from overwork. Apparently the 45 year old Japanese man was working 80 hours of overtime a week for two months

Buyer Beware: The Weakest Banks Often Offer the Highest Interest Rates

Today the troubles of IndyMac bank was splashed in the headlines. Its stock has fallen to nearly $0 and depositors are making a run at closing their accounts. IndyMac has been con

Patriotism and Personal Finance - A Brief Walk Through American History

To all the Americans out there, happy Independence Day! I think this a great day to reflect upon how personal finance and patriotism is so intertwined in America. So I dug up a f

Why Would Anyone Pay Mortgages With Credit Cards?

Today I received an email that advertised a program where you can earn rewards by paying your mortgage with a credit card. There are many reasons why this is a bad idea.