Picture this scenario: Suppose you are a habitual spendthrift and have great difficulty putting money aside for savings, so you ask a trusted friend to hold money for you. Each month for a year, you give this friend $200 a month, which you cannot borrow against or ask to be returned to you until the end of a [...]
Nearly two years ago, I received a call from a former college friend of mine. This was about the time the market was starting to recover from its drastic downturn in the fall of 2008, leaving many investors shaking their heads, selling off and vowing never to return to the Dow Jones again. During the [...]
An interesting tidbit for today’s blog: An article appeared in today’s Wall Street Journal that does not bode well for small businesses. (See Emily Maltby’s “A Credit Crunch that Lingers.“) Fear of another banking crisis, complicated SBA loans, and what banks feel is pressure from regulators not to lend (among other factors) has put small business in a [...]
I don’t think anybody needed to get out the crystal ball to see this one coming: According to the Wall Street Journal, now that the new credit card laws are in effect that all but prevent financial institutions from pricing credit card usage based on risk, banks are looking to recoup revenue losses by spreading costs [...]