One of the important lessons that should have been learned from the recent recession is that income diversity is an important aspect of your finances. With the massive layoffs seen in the economy during the recession, and the difficulty with finding a new job in a slow moving employment market, it is clear that relying on one source of income can be a real problem.
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There are some really easy ways to save money on clothes and still look great. This is probably the one place in the family budget where you can rack up some serious savings, without it having a real effect on your lifestyle. You just need to know the tricks of the trade.
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One of the benefits of the recent financial crisis is the permanent increase of the FDIC insurance for savings accounts from $100,000 per depositor, per institution to $250,000.
Another, is the general public’s increased focus on everything personal finance. Our friends at Moneysupermarket prepared an infographic today that will help with this very phenomenon: help you become more familiar with savings and money market accounts with some of the more frequently asked questions about them.
[Click on the picture below for the full sized version]
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The Credit CARD ACT passed in 2009 has had some positive effects. Some of the measures protect consumers, and there are changes that can encourage consumers to pay off their credit card debt faster. Indeed, Consumer Reports says that there are indications that the requirement to include pay off date information on credit card statements is helping consumers see just how costly their credit card debt is — and they want to do something about it.
However, even with these positive changes, there are still ways to become ensnared in credit card traps. Credit card issuers are good at what they do, and determined to make money. They are businesses, after all. Here are 5 credit card traps you need to watch out for:
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With today’s “slow” economy and no relief in sight, saving money is becoming an ever-important task on the minds of consumers. Cutting back on splurges like eating out and vacations may have been the first to go, but when the recession showed no sign of relief after several months, many consumers began looking for ways to cut back on necessities as well to conserve more cash. One major source of budget cut backs is the cost of housing. Some consumers spend as much as 80% of their income on housing costs, so finding ways to shave even a few dollars off keeping a roof over your head can provide huge relief to a strained budget. Here are five options.
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Even though gasoline prices usually stay low during the cold months we have seen an increase at the pump. Lower production is often cited as the reason for the continued increase but it is hard not to suspect pure greed when it is public knowledge that barrels of crude oil are back from its all time high prices. Given that the fuel business is a business just like any other, you need some strategies that allow you to get around while spending the least amount possible.
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