Friday, February 26, 2010

Bank direct deposit advance versus payday loans

Are banks planning to use the payday loan industry's tactics?

Banks are considering the use of payday advances to supplement the cost of lost overdraft fees totaling $15 billion, due to new rules that regulate how many over draft fees they are allowed to give a person each day. "Effect July 1, the rules will prohibit banks from charging overdraft fees at automated teller machines or on debit cards unless a customer has agreed to pay for exceeding account balances," states Rowe and Plungis. This new development is to say the least scandalous because just a little while ago, these same banks were trying to alienate the payday loan industry for tactics far less damaging. Do you think this is a coincidence? I think not!

Banks want to resell overdraft protection in disguise.

"The smarter banks are trying to resell overdraft protection to consumers as a different product," said Elizabeth Rowe, group director of banking advisory services at Mercator Advisory Group in Maynard, Massachusetts and of the banks already providing this service, but the catch is that they charge an annual rate of 120 percent. Installment loans and other short term loans online come with interest rates that are a little higher. ... click here to read the rest of the article titled "Bank direct deposit advance versus payday loans"

Thursday, February 25, 2010

Go on vacation to California

You can Plan your vacation

People often times need help planning a vacation. You initially have to decide a few things. For an example, I will show you how I planned my trip.

Budget to begin with

I first began a budget. I started my budget at two thousand dollars. That much is what we could spend. Picking out California narrowed down where we were going to go. Our trip would only consist of a week week long.

Where you will stay and how you will get there

We had to decide between driving and flying. With six people in the car, it would be cheaper to drive. We would go on a road trip for getting there. I wouldn't have to pay as much in gas. We then had to decide where to stay. The next day's activities determined what hotels we stayed in. Cheap yet nice hotels are what you would like to get.

Where you want to go

It was easier for us since we had already planned on California. We next had to choose where to go when there. The first Wednesday of every month the San Francisco Golden Gate Park is free to the public. It can be kind of busy but worthwhile if you are taking a lot of people along. Saving money is possible with this. It may take you all day to drive there. This will depend on where you live of course. Sometimes people take two days and others five hours. Relaxing on the beach may be fun for the first day. You will need to select a beach to go to. The second day we wanted to take a visit to a theme park. We would need to add this cost into the budget of course. The golden gate bridge is where we'd go our third day as well as to the free park. We would go to the San Francisco Wharf and go shopping at the pier Thursday afternoon. Alcatraz is a good idea for Friday. On Saturday we decided to go to the giant redwoods. We planned to drive home Sunday. Get all your tickets and! reservations way in advance.

Before your cash is gone

Unless you know for sure you are going, don't buy things. Use an agency if you don't know. Your protection will come from them. You should now enjoy your vacation and be safe!

Wednesday, February 24, 2010

Olympic Spirit Reigns in Vancouver

It may sound corny, but at their core, the Olympic Games are not so much about who has the fastest time on the bobsled, the tightest turns on the slopes, or the most sponsorship money behind them; instead, they are about the human spirit and our ability to overcome incredible odds to realize a dream.

The women's Olympic figure skating competition began last night and the standout performance came from Canadian Joannie Rochette, a 24-year-old skater from Quebec who delive! red her best short program of the season just two days after her mother's sudden death. Her score put her in third place going into the final, but her courage and beauty were the embodiment of the Olympic spirit. The women will take to the ice again on Thursday for the free skate.

Hot Searches From February 24, 2010

1. Colorado Shooting - Two teens injured; teacher tackles gunman
2. Mosi Tatupu - Former NFL player dies at age 54
3. Olympic Figure Skating - Rochette's courageous performance
4. Chrysler Recall - Due to minivans air bag s! ensor problems
5. Hannah Storm - ESPN suspends Kornheiser for rude comment
6. Chatroulette - New Web phenomenon that connects you through webcams
7. 'American Idol' - Recap of top 12 ladies' performances
8. Bitter Melon - Extract may destroy breast cancer cells
9. Charlie Sheen - Enters rehab for drug and alcohol addiction
10. 'Dancing with the Stars' - Season 10 potential line-up rumors

It's been a very long winter for the auto industry. Honda, Volkswagen and (of course) Toyota have all issued recalls. Now Chrysler is joining the party with a recall on several popular minivan models with airbag sensors that may corrode when exposed to road salt. The recall only applies to 27 states and to vehicles with a sensor made by Robert Bosch. Owners whose vehicles have been impacted will be receiving notices soon.

For more on today's hottest stories, check out our top searched list. Also check out AOL News Searc! h for breaking news around the world. What other big stories happen! ed today? Let us know! Come back for tomorrow's Hot Searches and follow us on Twitter and Facebook for daily updates.

Also Try: vancouver olympics schedule, vancouver olympics, olympic results, winter olympics, sports blog


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Rhode Island teachers fired as school feels government heat

All 88 teachers at Central Falls High School are gone

If it were only that simple, Mr. No Child Left Behind. Think again.

Central Falls, Rhode Island is reeling from a firestorm of student, parent and teacher protest. Central Falls High School wasn't making the grade with its standardized test scores and graduation rates, so the school board voted to fire the entire teaching staff. The 88 teachers are some of what may be many unfortunate casualties as American public education struggles to right itself.

Do they need money now?

That's the standard bureaucratic response to these kinds of situations. If kids are failing, build better schools, develop more programs, buy more books, etc. While keeping education safe and state-of-the-art is no doubt valuable, there are others who argue that this fails to address the real problem. But before I get to that, let's consider the Rhode Island teachers who were fired.

"I'm after school every day, I'm always available. I'm heartbroken. I'd do anything for this school system, I've done everything I can," said teacher Frank Delbonis to NECN Rhode Island. This seems to represent what many of the teachers are feeling. The local media reports they've even shared tears with their frustrated students.

No Child Left Behind at work

The Central Falls district – which not coincidentally is an economically disadvantaged area of Rhode Island – has consistently ranked in the bottom five percent of academic performance in the state. Superintendent Frances Gallo was given few choices by the federal government if the school was to continue receiving funds. These choices were: ... click here to read the rest of the article titled "Rhode Island teachers fired as school feels government heat"

Job Opportunities for Workers in Need of Payday Cash

Unemployed workers look for jobs

Millions of unemployed workers are searching for ways to bring in payday cash. The unemployment rate remains high and job creation is still in the beginning stages. Although the government is proposing more tax breaks for companies willing to start hiring, the laws are not likely to go into effect until late this year. In the meantime, unemployed workers are left to manage on their own.

Some good news

Despite the state of the economy, there is some good news. Companies are hiring and some of them are paying well. At least 500 job openings were posted in January of 2010, and job availability shows signs of increasing as the year progresses.

Edward Jones. Edward Jones is a company of financial advisors. The organization is looking for "self-starters" who know how to predict customers' financial need. Their main goal is to build customer-centric managers who understand how serving clients is the key to building long-term business. According to a spokeswoman for the company, Regina DeLuca-Imral, "affability" is the number one asset an applicant can bring to the table.

Wegmans Food Markets.
Wegmans Food Markets boasts 1,500 job openings nationwide. The company is looking for customer-service agents, chefs, team leaders, and managers. With a wide range of business opportunities, Wegmans is one of the best companies to interview with. In an article on, Wegmans' spokesperson Wendy Gallucci, said "We look for employees who are food enthusiasts and passionate about providing incredible services to our customers. Because we focus on helping customers make great meals easy, we look for employees willing to share their knowledge." ... click here to read the rest of the article titled "Job Opportunities for Workers in Need of Payday Cash"

Monday, February 22, 2010

Understand Your Retirement-Plan Choices

Many different kinds of retirement plans are available

Choosing a retirement plan doesn't have to be a game of chance

Many people are unaware of the different types of retirement plans available to them. While most are familiar with the basic plans offered through their employer, few know much about additional plans they may still be able to invest in. Self-employed people in particular find themselves wondering how they can plan for retirement and what plans are available to them.

Qualified vs. non-qualified retirement plans

Plans are generally classified as qualified retirement plans or non-qualified ones. Qualified retirement plans are those most commonly used by large companies. These offer tax incentives to employers for contributing to the retirement plans of their employees. Besides the fact that employers generally match an employee's contributions, qualified retirement plans are of benefit in that employee contributions are made on pretax income directly from one's paycheck. This means that money that would otherwise go to the government is invested in one's future instead. Also, taxes do not have to be paid on such contributions until money is actually withdrawn from the plan when a person retires or decides to withdraw the money for other purposes.

Here is a list of the most popular qualified retirement plans:

  • 401(k)
  • Roth (401)
  • Defined-benefit plan
  • Stock bonus plan
  • Defined-contribution plan
  • Money-purchase pension plan
  • Profit-sharing plan
  • Keogh plan (for self-employed individuals)

A non-qualified retirement plan, on the other hand is often used to reward high-ranking employees who earn a substantial income. Employees who invest in non-qualified retirement plans can still enjoy tax-deferred investing, but, unlike with qualified plans, they may lose the ability to transfer their money to another type of retirement account when they leave their job. This means that they may have to withdraw all of their money upon leaving their job and pay taxes on it at the same time. ... click here to read the rest of the article titled "Understand Your Retirement-Plan Choices"

Sunday, February 21, 2010

Consider the Cash Advance Before You Borrow From Loved-Ones

Borrowing money from family or friends

Many people are considering cash advances, credit cards and savings obsolete in the current market. They either don't have these tools or are wary of using them to cover bills. The age-old fallback plan for a lot of people is to find family or friends to borrow money from. While this may be a viable option, remember that there are some things to decide on before you ask and while you discuss the transaction. Here are three questions to think about:

  1. What will the money be used for?
  2. What plan do you have to pay it back?
  3. What plan do you have to make sure this doesn't happen again?

These questions are all very valuable to explore before you ask for the money and when you are stating your case. It's not only a good way to protect your family, but it also gives you a good gauge as to how well you have thought the plan out. For example, if you need $1,500 but are out of a job and don't know when you'll be bringing money in again, you may be putting your borrower at risk. Are they in the position where they can wait for you to get a job and start paying the loan back? What if you can't pay the money back in one lump sum, but rather pay it back in installments-can they wait?

Make it official

Any loan you take out from a family or friend may seem much more casual than going to a loan company or an online cash advance lender, but it needs to be as formal. It not only gives the lender the assurance that you are serious about paying the money back, but it also gives you the chance to really get a plan down in writing as to what you are going to do. Make sure you have a contract that specifies the terms of the agreement, from the total amount to the payback schedule to the payment amount. If it is a considerable amount, many people look for legal help and have a lawyer draw up the documents. Whatever method you use, be sure to include: ... click here to read the rest of the article titled "Consider the Cash Advance Before You Borrow From Loved-Ones"

Saturday, February 20, 2010

Renter's Insurance : When Bad Things Happen

Renter’s insurance is an uncomplicated and important way to assist you protect your belongings. Living in an apartment, condo, or dorm doesn’t mean your stuff is safe unless you have it insured.

It’s scary how fast things can go up in smoke

I’d never even considered renter’s insurance until I almost lost it all. While I was living in my first place on my own, the downstairs neighbors left a candle burning. A woman walking by noticed the flaming curtains and, luckily, called 911. Had it been just another five minutes, everything of mine might have been up in flames. The following day, I made sure to look into renter’s insurance. If you don’t own your property, it is incredibly important to purchase renter’s insurance.

What is involved with renter’s insurance?

More often than not, the homeowner, condo association, or landlord carries insurance for the building itself. If something happens to all your belongings or you have personal damages, though, they might not be covered. It does not matter where you live – in a condo, an apartment, a dormitory, or even renting a room in a friend’s house – you should get renter’s insurance to protect yourself.

What sort of disasters are covered?

Theft and fire damage will generally be covered by renter’s insurance, as will smoke damage, plumbing breakdowns, and more. Renter’s insurance doesn’t usually include floods and earthquakes. If you reside in a state or area that is prone to these, you will need to discuss buying another rider . Keep natural disasters that will usually happen within your areas in mind when you are policy shopping. When your home is unlivable because of damage, insurance will usually cover it.

What things will insurance pay for?

Actual cash value is one major type of insurance, while replacement cost is another. Actual cost value (ACV) pays you simply what the items lost or damaged are actually worth. When an item is damaged or lost, replacement cost insurance pays what it takes to actually replace it. As an example, if you purchased a $ 500 TV 3 years ago, an ACV policy would pay only the current value of the TV, which can be much less. In contrast, a replacement cost policy would pay you what a new TV would actually cost.

What are the costs to think about?

When buying renter’s insurance, there are some major numbers to keep in mind. The amount of money you have to pay before the insurance kicks in is recognized as the deductible. Your premium is the price of your insurance that you give to the company every month or quarter. You should make and keep updated an inventory of all items in your home, including their values. That list will give you proof and help you get full value for the items you lose or that get damaged. Lastly, keep in mind that if you have a particularly expensive or valuable item, you should inform the insurance company so they can properly cover the item.

Wherever you live, you should make it a point to protect your investments. My college furniture almost went up in flames when my neighbors ignored a candle. Protecting myself with renter’s insurance was one of the most important lessons I learned during that first semester in college.

Friday, February 19, 2010

Payday Loans and Banks are Targeted by the CRL

The Center for Responsible Lending

Overdraft fees and payday loans are being targeted by the Center for Responsible Lending, or CRL. Now that the economy is regrouping after the recession, the CRL is officially doing the numbers. The organization is looking to define the term "bad lending" and bring to light policies and procedures that are financially detrimental to the borrowing public. The group has developed a website that showcases the problems with lending that include everything from subprime mortgages, questionable bank policies, and payday loans.

The CRL provides data

One of the advantages of the CRL website is that consumers can see the official tallies of various sectors and states in terms of lending. For example, the group notes that there were 731,779 total foreclosures in California from the first quarter of 2008 through the third quarter of 2009. That totals up to an increase of 692% since 2006. The startling loss adds up to projections for the near future. The projected future loss in wealth of home value from now until 2012 is estimated to be $627 billion.

What costs the consumer most

The CRL also is targeting the biggest contributors to consumer cost when it comes to bank overdraft fees and payday loans. With bank overdraft fees, there are a lot of criticisms. The fees are a strong driver of bad loan costs. In the past debit cards were considered a cost-effective way of making purchases. Consumers used them to avoid overdraft fees and interest payments that come along with credit card purchases. In recent years, however, debit cards have moved into the area of money drains for consumers who aren't careful. ... click here to read the rest of the article titled "Payday Loans and Banks are Targeted by the CRL"

Wednesday, February 17, 2010

Lindsey Vonn wins gold in women's downhill

Bruised shin can't keep "America's Sweetheart" from the medal ceremony

My first question is, "Was Lindsey Vonn playing possum?"

My second question is, "Is Lindsey Vonn that much better than everyone else in the world at women's downhill?"

The answers to these questions, in my mind, are "likely" and "resoundingly, yes." That is not mean to denigrate the talent of American teammate Julia Mancuso or Austria's Elisabeth Goergl, who took silver and bronze in the event. Lindsey Vonn won the women's downhill by more than half a second, according to AP reports. When it comes to skiing talent, Vonn is of the mind to cash in now on the gifts at her disposal.

An injured right shin had kept Vonn out of practice

That injury dates back to a pre-Olympic practice on February 2. Despite the setback, Vonn was considered the overwhelming favorite in women's downhill in Vancouver. She'd won five of her past six women's downhill events, so I suppose the victory should come as no surprise.

But the pressure must have been tremendous. As coach and husband Thomas Vonn exclaimed, "She had the weight of the world on her… People were basically hanging the medal around her neck before the start."

Playing possum? Blame the media

Olympic competition is extremely demanding physically, and it's difficult to gauge how the body will respond in that moment of pressure, performance and adrenaline fire. Lindsey Vonn was definitely concerned over the condition of her right shin, but she wanted to compete. The intense media coverage magnified every move she made before her event, and it could have lulled the competition into a false sense of security, I'd wager. ... click here to read the rest of the article titled "Lindsey Vonn wins gold in women's downhill"