Stock Trading Online

With all of the recent hoopla over Facebook and Yelp! in the stock market news it seems to be a good idea to learn more about trading in the modern world—and in particular, trading online.

Resources:

Best Online Stock Trading Company: http://www.bestonlinestocktradingcompany.com

Star Reviews: http://www.starreviews.com

Top Ten Reviews: http://online-stock-trading-review.toptenreviews.com

Facebook Goes Public

Facebook has gone public today and now has an IPO. An IPO, an initial public offering is a way that private companies go public which reveals the inner workings of the company including financial information. Francis Gaskins, President and Editor of IPODesktop.com describes this process by using a “real estate analogy,” stating that it’s like a house that was once private and not open to the public is now on the open market where all relevant information is disclosed. The company, now open to the public, is “followed by analysts” and monitored by the Securities & Exchange Commission (SEC).

A company must go public when there are more than 501 investors and worth more than $10 million dollars.

A company usually starts trading about eight to twelve weeks later—after announcing it’s IPO.

This company’s information is being offered to attract investors that want to support the company as a shareholder and hopefully make money as the company grows. To invest, you must already have an account with an investment firm. You can then go through the investment firm to make requests to buy or sell investments.

What does this mean to you?

Resources:

Associated Press: http://www.ap.org

Yahoo! Finance – Breakout: http://www.finance.yahoo.com

Calendaring Your Year—It’s Your Money

How can you start off the year better than the last—start managing your money better from the start of it. This is such a simple idea and easy to follow. Take the beginning of this year to chart out a way to have a better grip on your finances.

January is coming to a close, so most of the mood for procrastination should also be coming to a close. Take this time to make a basic outline of how you want the next few months to turn out—financially. Map out all of your usual financial obligations by each quarter or individual month of the year. Let’s get started.

January through March

Get all of your holiday finances in order. By now, all of the credit card charges that you made over the holiday season should be posted and ready for payment. Paying the minimum amount due may suffice; however, paying even 5%-10% more can make a tremendous difference in the long run. Paying off all of your holiday debt should be your ultimate goal.

Look at your calendar and figure out what key events will effect you finances and just jot them down accordingly—a simple title will do to get you started, you can always follow-up with details at another time. It is just important that you get that much done, for now.

Stay on track and pay down that debt.

Tax time is right around the corner. If you have not already, now is a good time to gather up all of the necessary paperwork for filing. Check in with you accountant and discuss the details on what you may need for this year as your needs can change from year to year. Be sure to check in with your accountant early to find out his or her availability.

Start thinking about what you want to do this summer. Will you be going on a vacation? Will you be staying home? If you have children, will you be sending them to summer camp? These are all serious expenses that you should start considering and planning for.

April through June

Spring is in the air and so are new expenses—new spring and summer wardrobe to consider, home repairs and improvements, more holidays and special events to plan for. Parties, graduations, and outings may dominate the latter part of the spring for you and your family. Be sure that you have planned well to meet all of the accommodations you want to offer.

Keep all of this in mind and stick to the financial outline that you have created with your calendar in January.

July through September

Summer is officially here. Your wardrobe has officially changed by now. Be sure to have a hold on any related purchasing expenses and continue to keep up your payment plans. Keep a close eye on your calendar for reference. You should be continuously plotting in details for the general goal titles you have posted on your calendar already.

Big holidays like Independence Day can be quite expensive. Be sure to have a set budget for this. If you are hosting a party, get invitees to bring something to cut down on your own expenses. If you’re traveling to a party, be sure that you have money saved for gas, lodging, and other related traveling expenses. The same goes for family reunions, get-togethers, anniversary parties, and Labor Day.

By the time Labor Day arrives, you should already have your child’s back to school expenses planned out—or perhaps your own back to school expenses to think about. There should be a lot of really good sales going on from late July through August on targeted back to school items.

October through December

The biggest holidays of the year are well on the way—Thanksgiving, Christmas and other religious holidays, and New Years.

By late October and early November, you should really think about how you will be spending your Thanksgiving. Will you be hosting or going to visit someone else? The same goes for upcoming religious holidays, and of course New Years as well.

These holidays usually require the most money effort so plan early on costs for hosting a holiday gathering, gifts, and wardrobe.

Sticking to a basic plan and plotting your way through the year will prove to be a tremendous help. Be sure to modify your calendar with more details and continue to personalize it for new events as you become aware of them.

Avoid Common Credit Card Pitfalls

Credit cards have been a staple in American homes for quite some time. The current great recession has forced many to utilize credit cards to make ends meet. This is completely understandable and necessary for those that have adopted this practice. However, there are pitfalls that should be avoided at all cost. Activity that can affect your credit score can be detrimental to your ability to access much needed cash later on. Here are a few tips on how to stay on top of what matters most.

Resources:

Financially Fit: http://www.finance.yahoo.com

Main St.: http://www.finance.yahoo.com

American Economic Recovery

The recovery of the American economic system is on the minds of all financial experts. With Europe being deep within a financial maelstrom, onlookers are very concerned if the US economy will be able to recover with better gains and in a shorter time than Europe will. The feeling is that this is very possible and highly likely. America still has a lot of strengths left. There is a lot to consider, for sure.

Human Resources

Middle class Americans are experiencing a very slow and low paying recovery. So while most may be able to put dinner on the table, there may not be much else left to fulfill the American Dream experience. Things are just different now and a lot of people will have to settle for a lot less in order to survive. However, Americans are still positively motivated—noting that they do feel more fortunate than the generation that raised them in a recent Gallop poll survey. This sort of morale will be able to go a long way in building towards a clearer and stronger future. This is the first and probably most important step towards recovery. The backbone of America, the average American, must feel that solutions are possible just to get up in the morning and give it a go. As unemployment is slowly going down, this may be a sign of better things ahead.

Creators

America has been dubbed the creation nation for a good reason. Some of the best inventions, technological wonders, and super gadgets, have all been created by American inventors and scientists—including computers, software, mobile phones, tablets, and social media hubs. Americans are still winning the race on new inventions that everyone wants. This will maintain the high profile visibility of American technology. Other nations simply do not have same status and demand for their inventions as Americans do.

Wholesome Foods

America can supply all of the essentials to her own country. With rich soil and livestock resources, America can grow all of the nourishing foods that are needed to be supplied. Of course foreign imports are a desirable addition—however, the US can survive on what is already there.

With all that being said, experts are on the lookout for new trends in the European economic (currency) system. There has been a buzz recently about Europe finally coming up with solutions for deeper solidarity amongst her many nations. This has led to rumors of the possibility of an increasingly stronger Euro that may appear. Some are speculating that a strong possibility of the Euro becoming the most valued currency in the world one day soon. The European Central Bank’s policy maker Christian Noyer seems to think so. He recently reported this positive news to Reuters.

America can certainly gain some much-needed steam in the New Year. It is not about competing with Europe—however, all global nations need to make significant progress for their citizens and neighbors. Hopefully all of these nations will learn from the mistakes made, leaving them in the past for future generations to learn from—not to repeat.

Resources:

FOX Business: http://www.foxbusiness.com

Reuters: http://www.reuters.com

Down Slide of the American Middle Class

The American dream has been getting foggier and foggier. The notion of getting good grades in school to advance on to a scholarly institution and graduate college to land a great job has become fleeting. Adding on a family, a home, car, and opportunity for enjoyment of these liberties are becoming a goal that has been cast at an even farther distance. Personal income has decreased sharply over the past 30 years—almost 10 percent. The standard of living for the American middle class has gone down with it. Jobs that were held by the middle class have turned into “low income” jobs. These jobs now make up almost half of all American jobs. This is huge.

Some experts are noting that “globalization” is a factor in creating this trend, and may contribute to a creating a two-tiered society in this country. Some experts are even mentioning that America may be on the way to becoming less that a first world country.

Technology is also a huge contributor to this trend. New technology has been the cause of the reduction of particular jobs and increased other jobs. Jobs that are now in demand are healthcare and hospitality. Jobs where there is an impact on direct care of basic human needs and relaxation will thrive in this society. All humans need healthcare, and others will still spend money on home wellness when regular health insurance is not affordable—this will not just be left for the increasingly wealthy, although the wealthy can afford to feed the more extravagant hospitality sector.

The private sector job market is steadily increasing; however, for low-income jobs. Private sector jobs for the middle class are steadily decreasing, and government jobs are about the same.

With this entire going on, some experts are noting that today’s American generation is doing better than the previous generation. So far, the greatest increase is being seen for seniors in their social security checks. However, this comes at a great cost to the government.

Surveys conducted by Gallop polls, reveal that older Americans feel better off than their parents were at the same age in comparison to younger Americans. The wealthy Americans surveyed feel much better than those that are not as wealthy. Overall, this connotation is down by 5 percent from similar surveys taken near the turn of the century. Surveys from Pew Research Center have also revealed equivalent results.

This all seems to be quite good for much needed morale. Perhaps, this may be enough to combat the reality of this situation.

Resources:

ABC News: http://abcnews.go.com

Reuters: http://www.reuters.com

Yahoo! Finance – The Daily Ticker: http://finance.yahoo.com

The Jobless Situation in America

In a Nut Shell

Employment in America is increasingly challenging. Although there are reports of unemployment decreasing, this only accounts for those that are still eligible for unemployment benefits. A lot of Americans are no longer receiving benefits and are not necessarily getting work as a result. So what is happening to them? These are the people that are becoming, and by effect increasing, the nations poor.

The unemployment rate is being noted as approximately 9 percent, currently. However, another survey that concentrates on a wider scope of people that are not working, or are working only part-time in lieu of full-time work, brings the number to over 16 percent—this is a huge difference.

Some out of work job seekers feel they have exhausted all reasonable avenues, and have stopped looking for work. It becomes such a job, looking for a job, they become exhausted at what seems to be a matter of running in circles. According to some experts, the government really has to step it up to understand the full scope of who is unemployed and reach out with services to them all. This is the only way that a difference may be seen anytime soon.

Public jobs are decreasing while the private sector continues to increase. This is no doubt by an increasing amount of professional or expert services being offered by smaller companies. For a few lucky ones, this has been a catalyst for starting up a new business. However a problematic situation may occur if there is a lack of an ability to control costs, and maintain customers in such a cooling economy. Those that would tread those waters should do so with extreme care.

For others, there is the reality of seeking out public assistance. A lot of those that are able to utilize food stamps are still working—they have become the working poor. Demographics are shifting at an alarming rate as a direct result.

Metropolitan areas are a foreground for a growing number of poverty stricken families. Although food stamps are a non-monetary aid for families, this staple is considered to have decreased the official child poverty rate. However, the poverty rate of the elderly has recently “doubled,” according to a recent report released by the Associated Press.

One city town in Michigan has found it necessary to take a drastic and extreme turn by taking off the entire city’s funded street lamps. Not only did they cut off the electric current to public lampposts as a result to their indebtedness of over $55 million dollars, city officials have removed the lamps from the ground. The shutting off of a basic service that may sacrifice public safety is a sure sign of the drowning state of things for some communities that have more “people than they do jobs.”

The gap between the rich and the poor or the ‘haves and the haves not’ has increased tremendously. As a matter of fact, while the average American has been brought down to their knees, the nation’s rich have only gotten richer over the last thirty years. According to reports (AP), the nation’s wealthy have increased their wealth by almost 300 percent.

Resources:

Associate Press: http://www.ap.org

Contrary Indicator: http://finance.yahoo.com

Banks About Face to Raising Debit Card Fees

Banks are realizing that raising fees are a clear mistake for customer loyalty and morale. Since Bank of America made announcements this fall declaring a rising of debit card fees, there has been an outrage amongst debit card users everywhere. Consumers sensing a trend developing noted their dissatisfaction in great numbers.

The proposed BofA Debit Card usage fee of $5 dollars a month changes are supposed to begin at the turn of the new year. A powerful outcry by consumers has thwarted these general plans. Some customers have even made videos that may be viewed on YouTube. This is a serious move by consumers.

“Consumer power has worked, at least in this case,” according to MSNBC.

As a direct result, BofA has made adjustment that include no debit card fees for: having direct deposit payments from employment payroll, maintaining a minimum balance, or using BofA credit cards.

However, some “experts” have noted that consumers should look out for what they are calling “stealth fees.” These would be fees that may be attached to your account for not maintaining a minimum balance, not making enough use of your debit card, or some other similar type of lower utilization penalty. This could all sum up to being a low blow for consumers that are not rich enough to avoid these fees, if these stealth fees should be applied. No announcements have been clearly made by BofA as to what the bank minimums will truly be. However, it has been in the thousands of dollar mark in the past, according to reports. Today’s average American, cannot afford to keep up with such high minimums on their banking accounts.

Among the Big Banks that have made announcements that they will not charge fees or stop charging debit card fees of this type are JP Morgan Chase, TD Bank, Citigroup, Inc., Ally Bank, USAA Bank, and Wells Fargo. Some banks, like Chase, had tested out an increase earlier in the year are now reluctant to begin the increase. So far, none of these banks have admitted that their change of heart has to do with the backlash of the BofA proposal. Some experts have noted that these banks are doing their best to avoid a “Netflix moment.” There have already been reports of customers actually going into their local BofA branch and literally cutting up their BofA debit cards for all to see.

There is a strong resentment present as customers feel more than slighted by having to pay to use a card for accessing their money.

Alternative banking does exist for those that want to avoid some of the high fees. Municipal Unions, and community banks may offer a lesser financial burden for banking consumers. You may also have an opportunity to make money—interest—from an interest bearing checking account. Online banking, with exclusive online banks, may also be a way to avoid high banking fees.  With a bit of research, you may be able to come out ahead of all of this.

Resources:

Associated Press: http://www.ap.org

The Bottom Line: http://bottomline.msnbc.msn.com

Saving Up for the Holidays

As October is coming to a close, most people are already thinking about the holidays ahead. The holidays are a time for people to slow down a bit, relax, and spend time with loved ones. Unfortunately, this is also a time that a lot of people go into debt from over spending. It is critical to think how you are going to spend your money, and where you may be able to save some money this holiday season.

Holiday Dinner

A holiday dinner for your own household plus extended family and friends can be quite pricey. An average holiday meal for fifteen people is $300.00 dollars, approximately. This will modestly provide a main entrée, with up to three side dishes, desserts, and basic non-alcoholic beverages. If you will be serving champagne, wine, or anything else besides soft drinks, the pricing may increase by approximately 1/3. And you may be cleaning up alone.

There are several ways to combat this amount to about half the cost, if not even less.

You are probably a part of your local supermarket’s reward program – and if you are not, then you should be. Most supermarket reward programs have a free holiday food giveaway program around this time of year. Once you have accumulated a particular amount of money spent on groceries, you may be eligible to qualify for the offer. The accumulation occurs over a period of time. This is usually printed out on the receipt from purchases that you have made, while using your supermarket rewards club member card at the store. Most giveaways will give you a free main entrée food such as a turkey or a roast.

Most supermarket food sales start weeks before the holidays actually begin. This will make for a good opportunity to stock up on non-perishables as they go on sale. Make purchases of fresh foods and produce the closer you get to the holidays to avoid spoilage, and wasting of food.

You may also kindly ask guests if they would like to bring something to dinner. Work out a food plan with your guests to be sure that not more than one person brings the same thing. Another great idea is to accept an invitation for holiday dinner your self.

Holiday Decorations

This should be as simple as possible. The easiest thing to do would be to reuse the decorations you used last year. Otherwise, check out your local discount store for a thrifty selection of holiday decorations.

Gifts

The average American family is expected to spend approximately $700.00 dollars on gifts for this holiday season, according to an article by the National Retail Federation. This is down approximately $18.00 dollars from last year, as noted within the same article, produced from a research survey conducted by BIGresearch™.

A way to get around or reduce this expense even further, is to only go shopping when your shopping destination is having a sale.

A huge cost and time saver is to order the majority, if not all, of your holiday purchases online. Most internet shopping resources will not only have a sale on the products you want to purchase, they may also offer free shipping or gift wrapping. You can save a tremendous amount of money this way.

Resources:

Financially Fit: http://www.financiallyfit.yahoo.com

National Retail Federation: http://www.nrf.com

College Loans Get an Administrative Lifesaver

College graduates have been having a really hard time of it lately. Unemployment is high and moral has been low. Trying to consider how to repay college loans in such an economy is more than challenging. The Obama administration has recognized this and has asserted a plan to help out college students with repaying college loans.

The Obama administration is going to ratify a college loan repayment cap in January 2012 instead of waiting to do so in 2014, according to a recent Reuters article.  The cap would be at “10 percent,” of the college student’s income. This is a much welcomed and needed boost for our nation’s college graduates. At the very least, this plan is a start.

This is an independent change that does not have to have the approval of Congress for it to go forward.

According to the article, there are more Americans with college loan debt than with credit card debt right now.  The amount of college loan debt is expected to increase and “exceed 1 trillion dollars this year, according to the Federal Reserve Bank of New York.”

The loan changes are expected to be announced this week by President Obama.

There will be more changes for students with this plan as well. According to the article, there will be ”debt forgiveness,” after twenty years. Currently debt forgiveness is set at twenty-five years.  The plan will also offer a loan bundling deal for some students. The plan will also allow for interest payment reductions for qualified students that choose to participate in the program.

Resources:

Associated Press: http://www.ap.org

Reuters: http://www.reuters.com