Saving, Investing and Making Ends Meet

News and Information about Financial Education from the FDIC

Posted on Monday, April 25, 2011

News and Information about Financial Education from the FDIC In This Issue • Message from the FDIC • FDIC Updates Money Smart for Young Adults • FDIC Advisory Committee Discusses Financial Education, Low- and Moderate-Income Mortgage Lending • Reminder: HHS Offers Funding, Other Resources ...

Saving Slows Recovery, Study Says

Posted on Monday, April 04, 2011

Americans' desire to save more could slow the U.S. economic recovery, according to a study released Thursday by the Federal Reserve, which said wealthy families were hit hardest by the financial crisis. Most Americans saw their wealth decline from 2007 and 2009 as home and stock prices fell, but th...

Another Bank Bailout: 5 Things You Need to Know

Posted on Monday, April 04, 2011

Twenty five banks failed in 2008, and, according to the Federal Deposit Insurance Corporation (FDIC), the number of banks at risk of failing has almost doubled in the last two years. Because many of us are concerned about other banks that could also fail, we want to tell you how to protect yoursel...

What to Do If Your Bank Fails

Posted on Monday, April 04, 2011

I. With so many banks failing this year (115 as of last Friday) and with predictions that the rate will not likely slow for at least the next few years, people are starting to wonder if maybe their bank will be next. While it is hard to determine if a bank will close or not, there are a few things ...

What happens when a bank fails?

Posted on Monday, April 04, 2011

Editor's Note: On Oct. 3, 2008, Congress raised the FDIC and NCUA insurance amount to $250,000. This change has been extended to Dec. 31, 2013. To say it's disconcerting to find that your bank has been shut down by authorities is probably an understatement. We asked David Barr, spokesman for the F...

Your Bank Has Failed: What Happens Next?

Posted on Monday, April 04, 2011

60 Minutes Gets A Rare Look At How The FDIC Takes Over Banks And Reassures Depositors A lot of people are worried about their banks these days. Devastated giants like Citigroup get bailed out again and again and again. Recent stress tests show some banks need billions more, and many smaller banks a...

HOW TO KNOW YOUR BANK’S IN TROUBLE&WHAT TO DO ABOUT IT

Posted on Sunday, March 27, 2011

Background 159 failures in 2010 Florida had the most. 40% Florida banks “troubled” or “problematic” Reasons: Economy, real estate, regulation, undercapitalized. The Signs: How To Know Federal Financial Institute Examination Counsel (FFIEC.gov) Uniform Bank Performance Report Deposit money m...

Why Aren't You Saving Money?

Posted on Wednesday, February 16, 2011

Ed Nacional For a short time, Americans seemed to be born-again savers. In the second quarter of 2009, in the depths of the Great Recession, households put away 7 percent of disposable income, compared with under 2 percent in the third quarter of 2007. Yet the savings rate is falling again, down t...

Clothing Prices To Rise 10 Percent Starting In Spring

Posted on Wednesday, February 16, 2011

NEW YORK — Shoppers looking to update their wardrobes may find their money won't stretch as far. As the world economy recovers and demand for goods rises, a surge in raw material and labor costs is squeezing retailers and manufacturers who have run out of ways to pare expenses. Clothing prices had...

RECENTLY IN THE NEWS - 'The Last Name Effect' -- Study Says Your Name Affects Your Buying Habits

Posted on Thursday, January 27, 2011

When your e-mail inbox lights up with a new message advertising "Get it while supplies last!" how do you respond? Do you delete it, save it for later or jump at the chance to get the deal before it's gone? Your reaction depends on the first letter of your last name, according to a recent study co...

The 20 Most Frugal U.S. Cities

Posted on Monday, January 24, 2011

Known for Coca-Cola, peach trees and Gone With the Wind, Atlanta now holds yet another honor: It is home to some of the most frugal shoppers in the country. According to data collected by Coupons.com, residents of Atlanta used the site's online coupons more than any other city in the country, pri...

College Saving Gets Trickier

Posted on Monday, January 24, 2011

Burned by your 529 plan? There's a chance that your provider has sweetened the deal. But recent tax changes may make other strategies more attractive. Families need to know which college-savings vehicles make sense right now -- and which don't. After being pilloried by critics and written off by m...

The Importance of Having a WRITTEN Budget

Posted on Saturday, January 22, 2011

A WRITTEN BUDGET IS A MUST HAVE. If you're serious about saving, invsetment or making ends meet there's no way around it. Before you can save money you have to know what you’re spending it on. If you're reading this, make a promise to yourself to do this today – it’s the number one thing fol...

Think "Substitute" not "Sacrifice"

Posted on Saturday, January 22, 2011

Entertainment; The average American is spending about 15% of their income on food, almost half of that in restaurants! Choose restaurants you have coupons for or where the meals are big enough to make a second meal at home from left overs. Take your kids to the library instead of book store. Try...

KEEP A ‘CLEAN HOUSE’

Posted on Saturday, January 22, 2011

An eBay/Nielsen study found an average US household has 52 unused items lying around worth $3100. Typically clothes, toys, electronics and sporting goods. Think consignment store, garage sale or e-bay or an e-bay trading store (Plato’s Closet is another great spot for teen-agers and young ad...

GET THE KIDS ON BOARD.

Posted on Saturday, January 22, 2011

Who doesn’t feel guilty saying ‘no’ when their kids want something? But when you pretend you can afford things you cannot pay for you’re setting a bad example for your kids. You’re teaching them to grow up and have their own credit card debt. Thinking substitute instead of sacrifice and keepin...

Saving On Your Home Realted Costs

Posted on Saturday, January 22, 2011

Everyone’s tightening their belts. Biggest drop in American borrowing we’ve seen for seven decades. 80% are living paycheck to paycheck. For most folks the home carries the biggest expenses. Here are some tips to save home related costs: Seek a reduction in you home real estate taxes (6...

If you find you've done everythng you can and still cant make ends meet...

Posted on Saturday, January 22, 2011

A lot of folks should probably consider down sizing their home altogether. If your house payment (or rent) is more than 30% of your income, you’re one of them. If you look at your budget and simply can’t find anyplace else to cut back, that’s also a sign that you may need to down-size or move to ...

Improve your credit score and save thousands

Posted on Saturday, January 22, 2011

Improving your credit score can potentially save you thousands in interest up-charges and finance costs added in to compensate for the added lending risk bad credit is perceived as having. You can get your own free credit report and call each reporting company to fix the blemishes, speak with a fre...

TUNE-IN TO YOUR INNER SELF.

Posted on Saturday, January 22, 2011

If you find you’re having problems sticking with the budget, this tip may help. Many things, particularly the larger ticket items, you buy for other reasons other than necessity; the need to feel important, keeping up with the Joneses. If you can afford to do that, its just fine. But if you ne...

Insurances, a big ticket item on your budget

Posted on Saturday, January 22, 2011

Insurances (auto, homeowners, health, life, disability) add up to one of the biggest expenses. Make it a practice to contact all of your insurance carriers a month before your annual renewals and re-shop insurance. Make sure you’re getting all of the allowed discounts. For example, there may be ...

The Cost of Being Connected

Posted on Saturday, January 22, 2011

Connectivity is another huge expense. It’s one that snuck up on us over the past decade and former generations didn’t have to deal with. We all talked about how technology would change our lives but we certainly weren’t thinking about it in terms of driving us to the poor house; cell phones, cab...

Possible Tax Breaks or Retirement Plan Exemptions

Posted on Saturday, January 22, 2011

There are a couple of options available that might free up much needed money for you or a loved one including possible tax breaks or retirement plan exemptions. For instance, if you've been unemployed for 12 weeks or more, you can take money out of an IRA to pay health-insurance premiums for you an...

Some reader suggestions...

Posted on Saturday, January 22, 2011

It is always a better idea to buy goods in bulk, rather than in small quantities or from vending machines. If you buy in bulk, it saves money. * If you use compact fluorescent lamps to light up your homes, it will save you a lot of money, as they consume less electricity than other bulbs. * Keep t...

Some reader suggestions...

Posted on Saturday, January 22, 2011

It is always a better idea to buy goods in bulk, rather than in small quantities or from vending machines. If you buy in bulk, it saves money. * If you use compact fluorescent lamps to light up your homes, it will save you a lot of money, as they consume less electricity than other bulbs. * Keep t...

Budgeting for Savings

Posted on Saturday, January 22, 2011

One of the hardest parts is for people to realize that your budget is not to be based on your full paycheck. It should be calculated after taxes and after you’ve already taken money out for your savings. Determine what your take-home pay is each month, then subtract about 10 percent for contribution...

Spending figures from Bureau of Labor Statistics

Posted on Saturday, January 22, 2011

spending figures from the Bureau of Labor Statistics and see how you measure up against the average American household (you should try to be lower in each category): • 33 percent of their income on housing • 19 percent on transportation • 13.5 percent on food (with more than 40 percent being sp...

2008 Merrill Lynch New Retirement Study

Posted on Saturday, January 22, 2011

The Research The study, formally known as the 2008 Merrill Lynch New Retirement Study, delved specifically into four loosely constructed categories: nonfinancial behaviors, financial attitudes and behaviors, goals (both financial and life), and personality. We asked hundreds of questions about to...

Avoid Debt

Posted on Saturday, January 22, 2011

There are two kinds of debt: good and bad. An example of good debt is a mortgage. While you certainly don't enjoy paying the bill every month, you've made an investment and are earning equity. Bad debt comes in the form of credit card bills. You're paying interest and possibly fees to fund a purchas...

Save for a Rainy Day

Posted on Saturday, January 22, 2011

Cash is king, and if you run into financial difficulties such as job loss or another emergency, you will need plenty of cash on hand to make ends meet. That's why it's essential you have an emergency fund. Financial guru Suze Orman recommends you have enough cash to cover at least eight months worth...

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