Emily's list: Trim your debt and fat edition
Emily Starbuck Gerson
I see two parallel movements, and I like both: We're trimming the fat from both our diets and our finances.
First, finances. There has been a great emphasis on establishing good financial health for individuals, and in February, the Credit CARD Act of 2009 went into effect.
Among many other things, the regulations require credit card issuers to give their cardholders a 45-day notice of any major changes to the terms of agreement. Over-the-limit fees were restricted. Monthly credit card bills must indicate how long it will take to pay off the balance if only the minimum payment is made. Those under 21 years old can't open a credit card without having evidence of enough income or a co-signer. President Obama also pushed for Wall Street reforms that will further protect consumers. All these measures should help Americans shed debt
Meanwhile, awareness has increased about the relationship between the food we eat and our physical health. The documentary "Supersize Me" caused a huge stir a few years ago. More recently, "Fast Food Nation" and "Food Inc." have horrified many more consumers. Some states are beginning to require fast food companies to post nutrition facts in obvious places in the stores. The First Lady is leading a movement to end childhood obesity. Today, I just learned about another improvement. This week, announced that San Francisco's Board of Supervisors has approved an ordinance that will ban toys from fast food meals for kids. If the foods do not meet nutritional guidelines, such as having under 600 calories and less than 640 milligrams of sodium, the meals can't come with toys, which supporters think are driving child obesity. Santa Clara County in California has already approved a similar measure. While fast food may be the most affordable in the short-term, it can be devastating in the long-term in medical bills
I think it's interesting and exciting that consumers are becoming more empowered and that governments are trying to help consumers keep their wallets and health in check. Sometimes consumers need a little help protecting themselves. What do you think? Is the government going too far?Read on for my roundup of my top 10 favorite credit- and debt-related blog posts from the past week.
1. While it may not be advisable, it's possible. My Two Dollars explains how and why he bought a car with a credit card
2. Good Financial Cents reveals 10 common financial mistakes college students make that land them in debt.
3. Moolanomy offers eight reasons why it may be smarter to use a credit card instead of a debit card.
4. Desperation can lead to bad decisions. Wealth Pilgrim gives five tips to keep you safe when you need to borrow money.
5. Six Figures and Broke explains why paying off debt is always a good thing regardless of how or why you got there in the first place.
6. Dough Roller discusses yet another celebrity credit card a new prepaid credit card offered by the Kardashian sisters.
7. Thanksgiving is just around the corner and before you know it, the winter holidays will be here. No need to rack up tons of credit card debt. PT Money lists 25 great gift ideas that come in under $25
8. Free From Broke offers advice on how you can improve your credit score without having to use a credit card.
9. Fire Finance discusses 15 things that can cause the failure of early retirement including carrying a credit card balance.
10. Frugal Dad opines on our debt-driven society and helps readers learn how to stop being a slave to debt and banks.
2011-01-12
2011-01-11
New Congress edition
Emily's list: New Congress edition
Emily Starbuck Gerson
On Jan. 5, 2011, the 112th Congress convened its session. While Democrats maintained control of the Senate in the November elections, Republicans took over the House of Representatives. Democratic former Speaker of the House Nancy Pelosi passed the gavel on to teary-eyed Republican John Boehner of Ohio.
Leading up to the election, one of the major Republican platforms was that President Obama's administration was massively overspending and that our government needed to become more budget-conscious and spend less. Now that the Republicans are in power, it will be interesting to see what happens with our country's deficit. It being early January, many Americans (including myself) also have a renewed interest in organizing finances and sticking to a budget. But will these resolutions be here to stay? Let's hope so.
Read on for my roundup of my favorite personal finance blog posts from the past week and get some great tips and tricks on managing your money!
1. Did you have trouble coming up with a good New Year's resolution other than getting in shape? Ask Mr. Credit Card provides some great suggestions for financial resolutions, such as maximizing your credit card rewards.
2. The Digerati Life explains how you can avoid extreme spending and find a good balance that allows you to pay your bills on time.
3. Bucksome Boomer provides an action plan for those who have resolved to organize their finances this year but need guidance on setting up a budget.
4. Frugal for Life reminds readers that there is no magic key to suddenly start living a frugal life, but provides several factors that can help you successfully live frugally.
5. It's one thing to make a New Year's resolution, but it's another thing to fulfill one. Green Panda Treehouse provides tips for creating action plans for several common personal finance resolutions.
6. Girl with the Red Balloon responds to a reader's comment about whether people obsessed with paying off debt will have anything to do or get excited about once the debt is gone.
7. Girls Just Wanna Have Funds lists several easy ways you can save money in 2011 while still looking fabulous.
8. Small Steps for Big Change debates whether there is such thing as good or bad luck and explains how being prepared may make all the difference.
9. The Simple Dollar discusses the huge importance of emergency funds, but also questions whether it's possible to become too paranoid about future emergencies and save more than you need.
10. Money Beagle explains why now is a good time to check your credit report and offers advice on how to get it for free.
Tag : blogs.creditcards
Emily Starbuck Gerson
On Jan. 5, 2011, the 112th Congress convened its session. While Democrats maintained control of the Senate in the November elections, Republicans took over the House of Representatives. Democratic former Speaker of the House Nancy Pelosi passed the gavel on to teary-eyed Republican John Boehner of Ohio.
Leading up to the election, one of the major Republican platforms was that President Obama's administration was massively overspending and that our government needed to become more budget-conscious and spend less. Now that the Republicans are in power, it will be interesting to see what happens with our country's deficit. It being early January, many Americans (including myself) also have a renewed interest in organizing finances and sticking to a budget. But will these resolutions be here to stay? Let's hope so.
Read on for my roundup of my favorite personal finance blog posts from the past week and get some great tips and tricks on managing your money!
1. Did you have trouble coming up with a good New Year's resolution other than getting in shape? Ask Mr. Credit Card provides some great suggestions for financial resolutions, such as maximizing your credit card rewards.
2. The Digerati Life explains how you can avoid extreme spending and find a good balance that allows you to pay your bills on time.
3. Bucksome Boomer provides an action plan for those who have resolved to organize their finances this year but need guidance on setting up a budget.
4. Frugal for Life reminds readers that there is no magic key to suddenly start living a frugal life, but provides several factors that can help you successfully live frugally.
5. It's one thing to make a New Year's resolution, but it's another thing to fulfill one. Green Panda Treehouse provides tips for creating action plans for several common personal finance resolutions.
6. Girl with the Red Balloon responds to a reader's comment about whether people obsessed with paying off debt will have anything to do or get excited about once the debt is gone.
7. Girls Just Wanna Have Funds lists several easy ways you can save money in 2011 while still looking fabulous.
8. Small Steps for Big Change debates whether there is such thing as good or bad luck and explains how being prepared may make all the difference.
9. The Simple Dollar discusses the huge importance of emergency funds, but also questions whether it's possible to become too paranoid about future emergencies and save more than you need.
10. Money Beagle explains why now is a good time to check your credit report and offers advice on how to get it for free.
Tag : blogs.creditcards
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