An estimated 12 million people are still paying off debts they racked up buying holiday gifts last year. That’s among the more sobering findings from a new holiday survey conducted by Consumer Reports. The lingering debts may be one reason why nearly 60 percent of people plan to use a gift budget this year–a much […]
Author Archive | Matt Bell
A Credit Score Game Changer
Even if you make no changes in how you use credit, your credit score could change for the worse in the near future, according to a story on MarketWatch.com. The issue is that credit card companies are lowering some people’s credit limits because more people are falling behind on their payments. With a lower credit […]
Never Forget Who You Are
“Therefore everyone who hears these words of mine and puts them into practice is like a wise man who built his house on the rock. The rain came down, the streams rose, and the winds blew and beat against that house; yet it did not fall, because it had its foundation on the rock. – […]
It Isn’t Rocket Science
There was a funny post on the No Credit Needed blog showing a purchase decision flow chart. It lays out the process of making a wise spending choice so logically that it’ll make you laugh. p(matt). It reminded me of the Saturday Night Live skit called Don’t Buy Stuff You Cannot Afford, which may be […]
When Smart Shopping Becomes Disturbing
A new study of Wal-Mart shoppers (and that’s 9 out of 10 of us) shows that the economy is reshaping how we shop. As reported by USA TODAY, Wal-Mart has seen a double-digit decline in credit card use, a noticeable shift from the sale of discretionary products to necessary products, twice as many private label […]
Learning From Marketers’ Playbooks
Some of the best insights about shopping smart come from marketers. The trick is to learn their strategies for separating us from our money, and then play defense. That was the focus of a great post on the Get Rich Slowly blog, which reviewed the book, “Why We Buy.” For example, retailers do what they […]
Stay Away From Layaway
Buying “on layaway” is making a comeback. As reported by The Wall Street Journal, the Depression-era retail practice of letting shoppers put items away while they pay for them a little at a time is coming back in fashion. Analysts cite our rough economy, which has limited people’s access to credit. Kmart has even made […]
More Savings Now Insured
Previously, I mentioned that the federal government is now insuring money saved in money market mutual funds. The move was made in response to a rare dip below a dollar for the value of shares in the Reserve Primary Fund. Two points of clarification are warranted. First, as reported by ABC News, the insurance only […]
Spending Smart
While we can’t control what’s happening in the stock market we can control what’s happening in our homes, and now is an especially good time to look for ways to spend smarter. U.S. News & World Report offers a great collection of ideas for saving on the cost of food, clothing, healthcare, and more. Such […]
Controlling What We Can Control
Eight in ten Americans feel stressed about money, according to a survey by the American Psychological Association. Nearly 60 percent of respondents say they are concerned about job stability, while 50 percent say they are increasingly concerned about their ability to provide for their family’s basic needs. How are people responding to the stress brought […]