I've had a savings account since at least the age of 4. It's been through a merger or two but I still actually have this account. Not much in it, but for nostalgia purposes I've kept it.
I never had an allowance or an afterschool job as a kid, so I didn't have any money to save until high school. I did a summer internship my sophomore year and received about ~$1000 for a stipend. My mother opened up an account for me at her bank and that was my first real exposure to money management.
I started saving at a VERY early age - I saved all my tooth fairy money. My parents were all about being responsible with money. I soon opened my own savings account in middle school once I realized that the whole "bag of money" in the closet didn't quite cut it anymore. I saved about 90% of my earnings from my first jobs, started a money market account, and bought a few CDs to earn better interest. I'm about the only person in my group of friends with a retirement account (and also the one of the few who knows the difference between an IRA and a Roth IRA). I'm learning to treat myself - you can't save EVERYTHING - but I'm definitely going to keep the savings habit going. There's nothing like being prepared for whatever life may throw at you!
In high school, we learned about Personal Financial Statements or "PFS". Assets pretty much included a small savings account and some clothes. In college, I kept it up and realized that if I added debt, my net worth became negative. Of course, with student loans this happened! But as I paid off my loans and began my adult life, I realized that if I took, say, $500 out of savings to buy clothes or something, that $500 disappeared! I could not add it to my personal property line because what are used clothes worth? It's probably a little silly, but it has helped my from buying things that don't hold value. And now I'm in my 30's, positive net worth, and have over a year's salary in savings!
My parents helped us each open a savings account when I was about 7 (and my two siblings were younger). I saved almost all of my birthday/Christmas money for years. Then, in high school, when I started working, I kept on saving.
I think my the time I graduated high school, a had a few thousand dollars. In college, I couldn't really save, and used some of that money, but now that I'm an adult, I'm back in the savings habit.
We use the digital battery operate TV kit to turn our old battery operated TV into a digital TV. The converter is battery operated. They offer it at http://www.batterysavers.com/All_TV_Radios.HTML
I think I was born with short term memory, because I hardly remember anything of my past. I also was born with a reading comprehension disability as well as horrible grammar skills. I used to be extremely happy up until the age of around 12 then everything changed. I don't even really remember what happened or what triggered everything and it is possible my brain blocked out bad events in my life. I have a dad who I care about, but he had a lot of emotional issues. Always quick to his anger problems and would never listen to anything I said and if I tried to talk he would discipline me, so I eventually just stopped talking to him about everything(with the exception of sports which is the only thing I could talk to him about without it ending up with me getting hit or yelled at).I also always felt that everything I did was never good enough for my dad. I always tried my hardest in school and at sports, but since I wasn't a straight A student or a university bound athlete my dad always found something to criticize me at. After my freshman year of high school my dad stopped going to all my track & field and basketball games, (because he said he had to work more). It hurt my feelings, because my younger brother was a star athlete at soccer and baseball and never missed 1 of his games ever. Going through changes in my life in late elementary and junior high years I had no one to turn to. I had millions of questions, but I couldn't ask my dad, nor did I find out at school as I went to a private christian school that didn't talk to us about sex ed(we had the class, but they separated the guys and the girls and just told us basically to never hit women, treat them like God would treat them and so on) It was at this time my body was changing and it left me confused and frustrated, because I thought I was freak of nature since no one told me about these changes I would have. It wasn't until high school that I started figuring things out on my own, but by then things had already settled in. I have had depression since the age of 12 and it has slowly been getting worse over the years. I was and always have been a very friendly approachable person, but after I graduated high school and started working I started hanging out less and less with my family and friends. I have got to the point in my life where I just don't care anymore about what happens to me. Every day I think about killing myself, but I never do it for two reasons and two reasons only and they are because I know how much it would hurt my family and the other reason being I would go to hell. I want to enjoy my life, but I don't think it will ever be possible. I used to believe and trust in God that he would help me, but I feel like I am lost and he hasn't been there for me in my time of need. I don't know even know if I am a christian anymore just for thinking those things. I just want answers and I want to know why God allows these things to happen to me, why didn't he give me a father who cared more about me and told me that he loved me and taught me how to do things or tell me about things that would change in my body, had he done these things I don't think I would be in this situation at all and might be happy.
> Will this help consumers or just worsen the situation?
It will help the banks to avoid writing down the values of their assets. Instead the taxpayers get burdened with the risk of the mortgage default (Fannie, Freddie, FHA are all guaranteed by the taxpayers now). The US government is currently of the banks, by the banks, for the banks, and so it is hardly surprising that they want to limit the banks' losses and allow them continued bonuses and high salaries to their executives, instead of an unwelcome transparency. That is good for the members of congress, too, whose largest campaign contributors are from Wall Street.
I received a Netspend card today and after 37 minutes on the phone, their best answer was that they don't know who gave them my information, let alone the fact that they had my maiden name... So much for the FTC opt out procedures... If they don't reply to my email inquiry requesting to know who provided them with my information, I will be filing an FTC complaint - this is a horrible marketing practice!
just want to jump in here and say that i totally agree with this letter due to the econmy we cannot get a bank account and am watching my family deal with large over draft charges etc. i have never had a problem with netspend and hope never to we have been with the company for many years
When you invest, you must always remember it's a zero sum game - that is, when someone wins, someone else loses. I'm a fairly knowledgeable and experienced trader/investor who has made and lost a lot of money. Losing money is money spent on your education if you do it right. At the same time, I am not a match to the big boys - the quant funds, the investment banks and large brokerages. They just have too much fire power - too many tools, too much brainpower and, in the end, don't have to play by the same rules.
I hold my own but the average investor is usually flattened.
The markets are rigged to a certain extent and capitalism is considered so yesterday. Anyone who questions this just hasn't been paying attention lately.
The stock markets, bond markets and commodity markets are very much like Casinos. The casinos are there to make a profit and skew all the rules to give themselves the advantage. Only the very best, most shewed, traders can make any money. The average investor is like the average gambler at the casino. Many play the game without any knowledge of the odds or even the basic strategies. And those who think they have learned strategies usually overestimate their own abilities and lose the most.
The recent action in the stock market only confirms this. The market has rebounded off its earlier lows because of non-existent 'green shoots'. The economy stinks, unemployment is going up and this talk of 'green shoots' is pure establishment spin to make the sheep feel good. It's a setup.
Anyone who peers close can catch the big boys, like JPMorgan, at the end of most low volume days, juicing the market back up with rapid fire buys.
I just got out of the hospital Saturday for major surgery, and a Net Spend VISA debit card with my name on it was one of the pieces of mail waiting for me. It was puzzling and disturbing. I thought that my boss had signed up the company for this - faster way to get our paychecks to us. But why? So I Googled "NetSpend", and found Xin Lu's informative story about the unsolicited card her spouse received. THANK YOU SO MUCH! I am shredding the information, and the card.
I panicked with my debt and used a debt settlement company. They have done their job, they are legit and my debts left with them (I eventually withdrew two accounts from them and settled them on my own) but it was *FAR* more costly to me both in terms of money spent and damage to my credit. Yeah, they saved me 25%-50% on each debt amount in raw terms, but they also collected heavy fees before they would even begin to collect money for settling the debts, plus they collected a heavy fee from each check sent to them, PLUS they collected from me once they settled each debt. THEN I got the tax forms from the creditors since settled debt is considered income, and is taxed like a bonus -- 40% or so. *PLUS* because it took so long and the settlement company strategy is to simple stop making contact with the creditors once they send a single letter stating my intent to settle, that I had a judgment against me (luckily in my state, wages can't be garnished). I withdrew that account and settled on my own, under fair terms. I'm about to pay that debt off, though I'm still going to get wholloped at tax time.
Some banks are real A-holes and will not work with you until it's really fargone. Really, it's in their best interest since they makes oodles of money from you, but they can't let it go to charge-off or else it's too late for them too. They usually start working with you after 90 days, and are a lot more open closer to 180 days, when the charge-off will happen.
I know a lot of people are rightfully suspect of debt reduction/consolidation agencies that work for the credit card companies, but honestly, it can't be worse than what a settlement company will do. Best thing is to try to work with the companies. They won't listen until it's too late and you miss payments, but it's got to be cheaper for you in the long run and less damaging to your credit.
Please, please, please never work with a settlement company!
Good wine tasting advice in the article.In our community the large retailer(ABC store)has a wine tasting once a month.The smaller wine stores(Wine Warehouse)is about the same.For $5-$10 dollars you can sample a variety of wines(usually served with some sort of snack).Good marketing strategy for the stores but,also a great way to sample many wines without the expense of buying entire bottles.
I've had a savings account since at least the age of 4. It's been through a merger or two but I still actually have this account. Not much in it, but for nostalgia purposes I've kept it.
I never had an allowance or an afterschool job as a kid, so I didn't have any money to save until high school. I did a summer internship my sophomore year and received about ~$1000 for a stipend. My mother opened up an account for me at her bank and that was my first real exposure to money management.
I started saving at a VERY early age - I saved all my tooth fairy money. My parents were all about being responsible with money. I soon opened my own savings account in middle school once I realized that the whole "bag of money" in the closet didn't quite cut it anymore. I saved about 90% of my earnings from my first jobs, started a money market account, and bought a few CDs to earn better interest. I'm about the only person in my group of friends with a retirement account (and also the one of the few who knows the difference between an IRA and a Roth IRA). I'm learning to treat myself - you can't save EVERYTHING - but I'm definitely going to keep the savings habit going. There's nothing like being prepared for whatever life may throw at you!
When I was 25 I started having money auto deposited into a Roth IRA.
I started seriously saving when I was 27--I am 28 now! It's a whole new lifestyle to learn!
Still haven't - not seriously. Wading out from debt is my first priority.
In high school, we learned about Personal Financial Statements or "PFS". Assets pretty much included a small savings account and some clothes. In college, I kept it up and realized that if I added debt, my net worth became negative. Of course, with student loans this happened! But as I paid off my loans and began my adult life, I realized that if I took, say, $500 out of savings to buy clothes or something, that $500 disappeared! I could not add it to my personal property line because what are used clothes worth? It's probably a little silly, but it has helped my from buying things that don't hold value. And now I'm in my 30's, positive net worth, and have over a year's salary in savings!
My parents helped us each open a savings account when I was about 7 (and my two siblings were younger). I saved almost all of my birthday/Christmas money for years. Then, in high school, when I started working, I kept on saving.
I think my the time I graduated high school, a had a few thousand dollars. In college, I couldn't really save, and used some of that money, but now that I'm an adult, I'm back in the savings habit.
We use the digital battery operate TV kit to turn our old battery operated TV into a digital TV. The converter is battery operated. They offer it at http://www.batterysavers.com/All_TV_Radios.HTML
You give a very good idea for Easter Gift.Thanks a lot of the great mother day.Your text is really appreciable
The information is very useful. These types of loans will help the students who are in need of money for their education.
I think I was born with short term memory, because I hardly remember anything of my past. I also was born with a reading comprehension disability as well as horrible grammar skills. I used to be extremely happy up until the age of around 12 then everything changed. I don't even really remember what happened or what triggered everything and it is possible my brain blocked out bad events in my life. I have a dad who I care about, but he had a lot of emotional issues. Always quick to his anger problems and would never listen to anything I said and if I tried to talk he would discipline me, so I eventually just stopped talking to him about everything(with the exception of sports which is the only thing I could talk to him about without it ending up with me getting hit or yelled at).I also always felt that everything I did was never good enough for my dad. I always tried my hardest in school and at sports, but since I wasn't a straight A student or a university bound athlete my dad always found something to criticize me at. After my freshman year of high school my dad stopped going to all my track & field and basketball games, (because he said he had to work more). It hurt my feelings, because my younger brother was a star athlete at soccer and baseball and never missed 1 of his games ever. Going through changes in my life in late elementary and junior high years I had no one to turn to. I had millions of questions, but I couldn't ask my dad, nor did I find out at school as I went to a private christian school that didn't talk to us about sex ed(we had the class, but they separated the guys and the girls and just told us basically to never hit women, treat them like God would treat them and so on) It was at this time my body was changing and it left me confused and frustrated, because I thought I was freak of nature since no one told me about these changes I would have. It wasn't until high school that I started figuring things out on my own, but by then things had already settled in. I have had depression since the age of 12 and it has slowly been getting worse over the years. I was and always have been a very friendly approachable person, but after I graduated high school and started working I started hanging out less and less with my family and friends. I have got to the point in my life where I just don't care anymore about what happens to me. Every day I think about killing myself, but I never do it for two reasons and two reasons only and they are because I know how much it would hurt my family and the other reason being I would go to hell. I want to enjoy my life, but I don't think it will ever be possible. I used to believe and trust in God that he would help me, but I feel like I am lost and he hasn't been there for me in my time of need. I don't know even know if I am a christian anymore just for thinking those things. I just want answers and I want to know why God allows these things to happen to me, why didn't he give me a father who cared more about me and told me that he loved me and taught me how to do things or tell me about things that would change in my body, had he done these things I don't think I would be in this situation at all and might be happy.
> Will this help consumers or just worsen the situation?
It will help the banks to avoid writing down the values of their assets. Instead the taxpayers get burdened with the risk of the mortgage default (Fannie, Freddie, FHA are all guaranteed by the taxpayers now). The US government is currently of the banks, by the banks, for the banks, and so it is hardly surprising that they want to limit the banks' losses and allow them continued bonuses and high salaries to their executives, instead of an unwelcome transparency. That is good for the members of congress, too, whose largest campaign contributors are from Wall Street.
LOL I would keep it and brag that your credit is so good they send your pets credit and debit cards.
I received a Netspend card today and after 37 minutes on the phone, their best answer was that they don't know who gave them my information, let alone the fact that they had my maiden name... So much for the FTC opt out procedures... If they don't reply to my email inquiry requesting to know who provided them with my information, I will be filing an FTC complaint - this is a horrible marketing practice!
just want to jump in here and say that i totally agree with this letter due to the econmy we cannot get a bank account and am watching my family deal with large over draft charges etc. i have never had a problem with netspend and hope never to we have been with the company for many years
Andrea!
Indeed, Squawkfox is hard to type and hard to speak, but it's always fun to read. ;)
Thanks for the Canada Day Linky Love (Yes, I be a Canuck!)
When you invest, you must always remember it's a zero sum game - that is, when someone wins, someone else loses. I'm a fairly knowledgeable and experienced trader/investor who has made and lost a lot of money. Losing money is money spent on your education if you do it right. At the same time, I am not a match to the big boys - the quant funds, the investment banks and large brokerages. They just have too much fire power - too many tools, too much brainpower and, in the end, don't have to play by the same rules.
I hold my own but the average investor is usually flattened.
The markets are rigged to a certain extent and capitalism is considered so yesterday. Anyone who questions this just hasn't been paying attention lately.
The stock markets, bond markets and commodity markets are very much like Casinos. The casinos are there to make a profit and skew all the rules to give themselves the advantage. Only the very best, most shewed, traders can make any money. The average investor is like the average gambler at the casino. Many play the game without any knowledge of the odds or even the basic strategies. And those who think they have learned strategies usually overestimate their own abilities and lose the most.
The recent action in the stock market only confirms this. The market has rebounded off its earlier lows because of non-existent 'green shoots'. The economy stinks, unemployment is going up and this talk of 'green shoots' is pure establishment spin to make the sheep feel good. It's a setup.
Anyone who peers close can catch the big boys, like JPMorgan, at the end of most low volume days, juicing the market back up with rapid fire buys.
All I say, Lookout!
I just got out of the hospital Saturday for major surgery, and a Net Spend VISA debit card with my name on it was one of the pieces of mail waiting for me. It was puzzling and disturbing. I thought that my boss had signed up the company for this - faster way to get our paychecks to us. But why? So I Googled "NetSpend", and found Xin Lu's informative story about the unsolicited card her spouse received. THANK YOU SO MUCH! I am shredding the information, and the card.
A good way to budget is put your money into a gold coin and then sell at time of vacation...better return than the bank
Great Video to watch
Watch Here!
I agree the economy has collapsed, you have to invest in better resources. Great Video to watch
Watch Here!
There can't be anyone out there that doubts Obama is in bed with the Banksters. This is outrageous but it doesn't raise a whimper.
Capitalism is dead.
I panicked with my debt and used a debt settlement company. They have done their job, they are legit and my debts left with them (I eventually withdrew two accounts from them and settled them on my own) but it was *FAR* more costly to me both in terms of money spent and damage to my credit. Yeah, they saved me 25%-50% on each debt amount in raw terms, but they also collected heavy fees before they would even begin to collect money for settling the debts, plus they collected a heavy fee from each check sent to them, PLUS they collected from me once they settled each debt. THEN I got the tax forms from the creditors since settled debt is considered income, and is taxed like a bonus -- 40% or so. *PLUS* because it took so long and the settlement company strategy is to simple stop making contact with the creditors once they send a single letter stating my intent to settle, that I had a judgment against me (luckily in my state, wages can't be garnished). I withdrew that account and settled on my own, under fair terms. I'm about to pay that debt off, though I'm still going to get wholloped at tax time.
Some banks are real A-holes and will not work with you until it's really fargone. Really, it's in their best interest since they makes oodles of money from you, but they can't let it go to charge-off or else it's too late for them too. They usually start working with you after 90 days, and are a lot more open closer to 180 days, when the charge-off will happen.
I know a lot of people are rightfully suspect of debt reduction/consolidation agencies that work for the credit card companies, but honestly, it can't be worse than what a settlement company will do. Best thing is to try to work with the companies. They won't listen until it's too late and you miss payments, but it's got to be cheaper for you in the long run and less damaging to your credit.
Please, please, please never work with a settlement company!
Good wine tasting advice in the article.In our community the large retailer(ABC store)has a wine tasting once a month.The smaller wine stores(Wine Warehouse)is about the same.For $5-$10 dollars you can sample a variety of wines(usually served with some sort of snack).Good marketing strategy for the stores but,also a great way to sample many wines without the expense of buying entire bottles.
Jon
Great idea Philip. I agree with you. keep it up