Archive for the 'News' Category

Money ignorance

“The financial literacy of high school students has fallen to its lowest level ever.”

That’s a quote from a report released last week by the Jump$tart Coalition’s 2008 survey (available here).
Ouch.
Worse, a common solution - teaching personal finance in high school - doesn’t seem to work, at least when it’s taught in early high school.

“We have […]

Spitzer spat

You’ve probably heard by now that New York Gov. Eliot Spitzer has apparently been frequenting prostitutes. Story.

Ughhh.

We consumer advocates usually steer clear of political news, but many of us – regardless of political affiliation – viewed Spitzer as a champion of consumers against well-moneyed and powerful corporations – at least during some of his crusades. […]

Stocks on Sale!

Newsflash: The Fed cut short-term interest rates by the largest amount in 17 years and the Dow fell 400 points out of the starting gate this morning.
That’s the opposite of what usually happens. Regardless, it will lead to hand-wringing on Wall Street and higher ratings for CNBC.
But I’m cheering.
As far as I’m concerned, this is […]

Ripped off for $870

The property and casualty insurance industry continued in 2007 to systematically overcharge consumers and reduce the value of home and automobile insurance policies, leading to profits, reserves, and surplus that are at or near record levels, says the Consumer Federation of America.
A new CFA study estimates that insurer overcharges over the past four years […]

Gym membership folly

It’s difficult to criticize gym memberships because getting fit is a great idea. But too often, these memberships become huge black holes of wasted money.
And some gyms aren’t exactly ethical in how they deal with customers. That’s why Pennsylvania Attorney General Tom Corbett this week issued a news release warning consumers and reminding them of […]

Security is job No. 1

Health insurance and job security are at the top of Americans’ list of desired characteristics in a job, while pay ranked much lower, according to a new poll. The national poll, conducted by Princeton Survey Research Associates for the Center for State and Local Government Excellence, surveyed 1,200 adults age 18 […]

One in four Americans missed payments in `07

One in four Americans missed making one or more on-time bill payments, according to a survey released this morning.
The bulk of those delinquencies occurred on utilities (12 percent), credit cards (12 percent) and medical services (11 percent). Meanwhile, only 17 percent choose paying down debt as their top resolution for 2008, down notably from […]

Spend FSA money fast!

The flexible spending account, or FSA, has recently become one of the good deals among employer benefits. You can pay for out-of-pocket health expenses with pre-tax money. In other words, if you’re in the 25 percent tax bracket you get a quarter off all that spending.
FSAs became more lucrative in recent years because the IRS […]


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