Baloney and the economy

I came across this article on Yahoo! News via The Motley Fool this morning that I have to share. I’m not going to waste anytime, so here you go.

Are most Americans really struggling financially?

I’m not sure that’s the case as much as the media makes it out to be. Sure, there are a number of folks that are dealing with some hard times. But, I would argue that the majority are truly in dire straights. In fact, I think the media is making it seem worse than it really is. Either that, or Americans are being outright idiotic when it comes to money matters. And that may well be the case too. Maybe I’m right in both cases.

Some people just don’t get it

Saturday morning, a friend and I went garage sale shopping for baby stuff. We’re both expecting and are always looking for some bargains. We got a late start but she was able to find quite a bit of things she’ll need (onesies, blankets, etc.). I really didn’t need much since we stored our daughter’s stuff in the attic.

NYT: The Foreclosure Crists

I wanted to take this time to comment on a letter to the editor published in the New York Times yesterday titled The Foreclosure Crisis.

Credit card regulation is overdue

Great article from the Dallas Morning News on credit card companies lack of ‘expediency’ posting payments so as to generate penalties and late fees from customers who actually pay on time. Here’s an excerpt:

Editorial: Credit card regulation is overdue
06:37 AM CDT on Wednesday, May 7, 2008

For years, credit card companies have orchestrated due dates and payment postings to generate late penalties and fees – all in the name of extra profits. Enough is enough.

This newspaper was glad to see the report last week that three major financial regulators, including the Federal Reserve, have proposed rules to curb deceptive credit card practices. Separately, Congress also is considering measures.

New regulation is overdue. Creditors have been free to hike interest rates at any time and for any reason – and then apply the new rate to purchases the consumer has already made. Credit issuers also have manufactured revenue by selectively posting payments to maximize interest charges.

Read editorial

Friday dailies

There a number of articles I’ve read today that I wanted to comment on. Some were well written and researched, others, not so much. Let’s dive in.

Finally, someone else is saying it

I’ve been saying for a number of months now, how the U.S. recession is in fact not a recession. I came across this article while surfing Fox News today and I wanted to share.

When life throws you a curve ball

My husband went to his ENT (Ear, Nose & Throat) doctor because he’s been having some sinus problems. For most folks, dealing with his sinus issues, the solution is sinus surgery. There are other non-invasive procedures, but, for the most part, some type of sinus surgery is recommended. The ENT didn’t want to put my husband under because he’s a special case. By special, and to give you guys some background, my husband had a kidney transplant almost 10 years ago. Health issues have always been a concern for us and have been one of the main reasons we needed to enlist the help of Dave Ramsey. Before I get too side-tracked, the ENT doesn’t want to do the surgery but recommended a couple things for my husband to do to help.

Measure twice, cut once

I came across a blog this morning run by a twenty-something soon-to-be-graduated college student. He wrote a great post on what he currently does with his money and outlines some of his post-graduation plans. It’s rare to come across a 20-year old who thinks about money management let alone investing. He asked for some suggestions and advice on how he could do things differently, so I offered a few suggestions. I thought this might help someone else, that’s why I’m posting my recommendations here.

People think we’re broke

Since we’ve been following the Dave Ramsey plan, we come across people here and there that don’t quite understand why we would limit ourselves to paying cash. While most Americans are using credit cards and financing new cars, we get excited about buying a 5 year old car with cash. If that wasn’t weird enough, we don’t even have credit cards. A peculiar bunch we must be.