With banks and credit card companies collecting more money than ever from customers, the Center for Economic and Entrepreneurial Literacy reminds consumers that “economic illiteracy is at the heart of our current economic crisis.” A CEEL survey conducted in December of 2008 found that a majority of those surveyed were unable to answer simple questions [...]
Wall Street Journal columnist James Stewart has a great piece this week, about how fleeting good fortune can be, and how important it is to manage your money responsibly. I really recommend reading the whole thing, but here’s a few highlights (emphasis added): Our culture often glorifies financial success, but it is an illusion to [...]
An unfortunate side effect of a recession is that it provides easy pickings for opportunistic scammers. Thieves earn their bread and butter when people are in a panic over their finances, so it’s important to recognize the warning signs of a deal that’s too good to be true. The FBI recently compiled this list of [...]
Australia is reporting a surge in bankruptcies among young women eager to live the celebrity lifestyle: The Daily Mail reports that a survey found women were ‘far more likely’ to spend irresponsibly than men as they try to emulate celebrities such as Victoria Beckham and Paris Hilton. Last year 55 per cent of young bankrupts [...]
We’ve covered before how new credit laws mean tighter restrictions regarding who qualifies for a credit card, and how people with sterling credit scores could face higher fees under the new regulations. As it turns out, there’s another wrinkle in the law books that gives young people a truly bum deal. Under the new law, [...]
Why is there a kidney shortage? Nobel Prize-winning economist Gary Becker claims it’s because there’s no market for them, since the buying and selling of organs is illegal. Or put differently, when the maximum amount of money you can get in return for a kidney is $0, the demand is always going to be higher than the supply.
Today, The Wall Street Journal has a post about a boarding school in Massachusetts that is attempting to increase financial literacy among students by setting up a classroom as a mock stock market trading floor. The story notes the need for financial literacy among students — especially in the current economic crisis — and refers [...]
immy Johnson is pitching an organization called “Better Trades” which vows to teach people how to make money fast (WARNING SIREN!) by day trading in the stock market.
For those looking for recession deals, you can find coupons, discounts, and other bargains everywhere–especially with Memorial Day weekend sales coming up. Recently, we informed readers of some good deals on clothes and groceries. Aside from being a smart shopper, in an unstable economy it’s important to know how to get the most bang for [...]
The FTC has great resources including a Scam Watch that takes a useful look at a lot of the mortgage rescue scams that are abounding right now.
Also posted in Budgeting, Credit, Econ4U, Education, Government Policy, Links, Saving Money
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Tagged Econ4U, FTC, Links, resources, scams
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