Filed under: Banks, Borrowing, Credit
New rules that kick in this August require banks to substantially change one of their most-loathed policies: automatic enrollment in an overdraft “protection” plan that lets a transaction you don’t have money to cover go through, then zings you with a $35 fee. The rules mandate that people will have to opt into these programs; banks can’t enroll you automatically and without telling you. As we already warned you, banks are hitting back by sending customers letters making it sounds like they have to opt in for this “protection” or that something terrible will happen if they don’t.
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Filed under: Debt
It’s no secret that money woes can be a serious strain on a marriage, and couples who fight about money are statistically more likely to get divorced. But new research shows that couples who go into marriage with no assets, as well as those who rack up significant debts shortly after marriage, are less satisfied in their marriages over time. What’s more, the bigger the debt they incur, the greater the problems.
“It seems to be that assets take the edge off of financial pressure and the worry about making ends meet or being able to pay the bills at the end of the month,” says Jeffrey Dew, associate professor at Utah State University, who studied couples’ attitudes about money and their own unions. While assets have an indirect cushioning effect, shielding people from anxiety that leads to arguments, Dew told WalletPop in an interview, debts have a more direct, insidious impact.
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Filed under: Bargains, Family Money, Retire, Saving Money, Shopping, Travel
Membership has its privileges, the question is — are they worth it? Unequivocally, the answer is a resounding … maybe! Ultimately, the value of anything depends on how much you use it. If you pay $399 for a Disneyland annual pass and go once, that’s an expensive trip. If you buy the same pass and go 200 times you’ll be paying $1.99 per day –a deal! You might be singing It’s a Small World in your sleep, but you will have received your money’s worth.
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Filed under: Banks, Technology, Economizer
“We can give the average American family $500 a year, spending what they already do on their debit card.”, Dan O’Malley, CEO of PerkStreet told WalletPop in a phone interview.
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Filed under: Debt, Consumer Ally
The Better Business Bureau in Central California is warning about problems with a Fresno-based collection agency that has been hit with more than 30 complaints from businesses around the country, accusing the company of charging for services it didn’t provide.
The complaints say the agency, Maxwell, Turner and Associates, Inc., charged its clients an upfront fee to collect from individuals and companies owing at least $1,500 in debt. The agency then cut ties with its clients and did not try to collect the debt, according to the complaints.
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Filed under: Insurance, Transportation, Insurance – Car Insurance
Whenever I ride in a taxi in New York City, I marvel at the intestinal fortitude of the drivers who navigate pedestrians, potholes and other drivers who seem to have learned how to drive via a video game. And, according to a recent survey of driver knowledge by GMAC Insurance, it turns out that the awe these drivers inspire is justified.
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Filed under: Borrowing, Credit, Debt, Extracurriculars, Shopping, Bankruptcy, Video, Credit Cards, In the News
Avis Cardella was a compulsive shopper. She spent so much time in the department stores, the clerks knew her by name. Yet it wasn’t purchases she needed. It was the high she got making them. While her closet piled higher with clothing never worn and stuff never opened, her addiction ruined her finances, her relationships, and her self-esteem.
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Filed under: Banks, Credit
Last Thursday, the Senate passed a sweeping financial-reform bill that politicians and pundits alike agree will mean big changes for the way the business of finance is conducted in the U.S. — even if they don’t agree if those changes are good or bad. The House of Representatives passed its version of a reform bill late last year, so now lawmakers have the unenviable job of reconciling the many differences that remain between the two bills before it can become law.
A lot of the details of the bill (all 1,600 pages of it, as the blog Consumerist pointed out) pertain to banking regulations and the way financial firms are overseen and operated. But there are some facets of the bill that will, if they make it into the final version of the law, affect average Americans who own a home, use credit cards, take out loans — in other words, just about all of us. Here’s WalletPop’s rundown of the pieces of the bill that will matter most to you. (Continue the story…)
Filed under: Debt, Extracurriculars, Real Estate
When Noemi Rodriguez bought a two-bedroom, 830-square-foot condo in the San Fernando Valley of LA, for $307,000, she had good credit and a steady job as a data processor.
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Filed under: Money College, Debt, Student Loans
Linda calls me up first thing in the morning just about every single day. She rings with such regularity, in fact, that I hardly need to set an alarm clock anymore. I’m usually too groggy to answer, but when I check my voicemail, I can picture the dimple-bursting smile on her face as she chirps away about all the wonderful opportunities I have today.
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