We’ve turned into a rather image conscious and materialistic society. How we appear to others is important, and many of us use credit and get into debt to look rich. Indeed, acting rich — as though we’ve got money to burn — when we really don’t is why so many of us are far from being rich. This type of mentality can put our current financial situation at risk, as well as damage our chances for a prosperous retirement.
But how can you accumulate real wealth? Well, the answer lies in the #1 rule of personal finance: Spend less than you …read more

One of the most difficult things about holiday shopping is trying to figure out exactly the right thing to get everyone on your list. This can be especially heard if you are on a budget. I thought that this MasterCard commercial featuring Peyton Manning was great, since it resonates with the challenged gift-giver in all of us:
The good news, though, is that if you give thoughtful gifts, they don’t have to cost very much. Indeed, you can give inexpensive gifts, as long as you manage to make them more personal. This has its own set of challenges. However, an inexpensive …read more

The big news from the world of finance today is that the U.S. unemployment rate dropped in November. In the wake of a jobs summit at the White House, the latest numbers for the employment picture are in. And in November, it looks as though the economy only shed 11,000 jobs. This is opposed to the 125,000 that many expected the economy to shed in November. The news also meant that the unemployment rate dropped to 10%
Of course, this positive data does not indicate that a significant number of jobs are being added to the economy — just that the …read more

Even with the fact that today the news came in that jobless claims have dropped to a one-year low, the reality is that this is the worst job market in right around 26 years. So, even as the picture starts to improve, things still need to be happening to stimulate job creation. And, as a result, president Barack Obama is convening a jobs summit.
Gathering 130 people together — business people, union leaders, and economists — at the White House is one way he hopes to get input on what can be done to increase the effectiveness of the jobs efforts …read more

Now that the frenzy of Black Friday is past, it’s a good time to think about how you are going to get deals for the rest of this holiday shopping season. The good news is that there are plenty of deals to be had; in fact, there will be money saving opportunities until the end of the year. No matter your holiday gift budget, you can find something to fit into it. Whether you are looking to score a good deal on a gift for someone else, or whether you are ready to get yourself something you deserve, here are …read more

Not too long ago, I won the book Secrets of a Stingy Scoundrel by Phil Villarreal from a contest over at the site Fiscal Fizzle. It is easily one of the funniest money books I have read ever. Villarreal takes you on a journey through money saving tips — many of which are of dubious ethical (if not legal) origin. But the result is hilarious.
Villareal suggests that you can stock up free T-shirts, bags and water bottles by filling out credit card applications. Don’t worry; he realizes that having a bunch of credit cards can be detrimental to your financial …read more

Stocks continue to struggle today on the stock market as Dubai remains a bit of an issue. Also contributing to the bearish slant to today’s trading is the fact that Black Friday sales ended up being mixed. However, stocks aren’t down as much as they could be, since there are some silver linings to the stories dominating the markets today.
Dubai isn’t that big a deal
While the reaction on Friday to Dubai’s possible debt problems was huge, over the weekend, investors realized that U.S. direct exposure to Dubai markets isn’t that big. Additionally, the UAE promised to provide funding for Dubai …read more

When my husband and I go shopping for anything — especially expensive items — we like to do our homework. We are looking for more than the lowest price; we are also looking for good quality. So when we decided to buy an HD LCD TV, we looked around, read reviews, and went to my husband’s buying Bible, Consumer Reports. And, ultimately, we settled on a Sony Bravia. (Disclosure: Neither Sony, nor Consumer Reports pays me to say any of this.)It’s been good to us. We’ve had it for three years now, and not had any problems. Friends of ours …read more

The end of 2008 saw a serious dent to bonuses, due to the financial crisis. And this year saw salary freezes at a number of companies. As a result, raises have been few and far between. But things might change in 2010. Hewitt Associates points out that only 13% of companies plan to freeze salaries next year. You might not get a huge raise, but you might get something more than you got this year. And that could be helpful to many who are struggling right now. It will be especially helpful if economic recovery results in inflation next year. …read more

Yesterday, the news broke that Dubai was experiencing some serious debt issues. Dubai World, which is a financial entity owned largely by the Dubai government, announced that it would be restructuring and that it would be stopping debt payments. This news has shaken world markets. In Asia and Europe, the markets were shaken yesterday. But with the Thanksgiving holiday, it appears that the U.S. reaction was delayed.
This morning, investors work up and sent the Dow plunging more than 200 points. While the losses have moderated so far, with the trading day almost over, there are concerns that Monday could bring …read more