Over the past few years home values across America increased at a substantial pace. This led many homeowners to treat their homes like ATMs and take the equity out of it. While many people used their home’s equity for legitimate purposes, some homeowners used the money on vacations, new cars and other luxuries. Today’s link from the San Francisco Chronicle tells the story about one family that did not use good judgment when it came to managing their house and ended up losing it to foreclosure.
August 19th, 2008 by Tom
Some investors are leery of making investment decisions on their own. When finances are involved, many people opt for a professional to make decisions for them. While it certainly is beneficial, professional investment advice is costly. This article from Morningstar encourages investors to think long and hard before opting for help creating a financial plan. While a lot of people will still prefer to have outside investment help, it might be worth it to try doing it yourself first.
August 18th, 2008 by Tom
Many consumers sign up for credit cards that offer frequent flier miles every time they are used. The idea of free travel has increased the popularity of these credit cards. Due to the recent turmoil in the industry, airlines are not only charging for checking bags and eliminating some travel routes, but are also reducing the benefits for their credit cards. You may want to reconsider applying for one of the airline’s credit cards and look into getting an American Express Blue Cash card or one of the many other available options.
Click here to read more about the declining value of airline credit cards.
August 17th, 2008 by Tom
