Divorce: it’s a subject nobody feels comfortable talking about. Divorce is the true “D” word in the English language. And yet divorce is something that may affect 50% or more of every American that enters into marriage. Nobody wants to believe they might end up on the wrong side of that equation, but what if you did? This post is not to give legal or financial planning advice, but rather to start a dialogue about how many of the practices of a healthy marriage might actually be detrimental were the marriage to end in a divorce. This post certainly isn’t meant to give love advice either, nor financial advice. Again, this post just wishes to raise some issues, even if the subject is taboo. After all, divorces are one of the biggest causes of bankruptcy filings in the United States.
Harvard Business published an article a while ago that talked about job security and how the younger generation question if their job is secure. No matter how old you are, there is one thing that is certain – gone are the days that we leave school and work at the same career throughout our lifetime. Well, there may be a handful of people such as doctors that may remain in the same career, but still, the vast majority of us will ultimately have two or three careers. One thing to always keep in the back of the mind is what if you are in the midst of changing careers and a recession hits? Or even if you are in a pretty good position but the company you work for takes a hit if another recession occurs? Recession proofing your life should be just as much a priority as having life insurance to take care of your family.
There are some steps you can take to recession proof your life and depending on your financial situation, it may not be too difficult.
Recently, Citi experienced a data breach that exposed credit card numbers and contact information of about 1% of its customers. When you consider CitiGroup has tens of millions of customers, you realize that’s a pretty big number. Citi says that it is contacting those who were impacted, but that could take a while. Meanwhile, if you have a Citi account, you might want to consider how to protect yourself.
What Should You Watch Out For?
If there is some good news in this, it’s that, by law, your liability for fraudulent credit card purchases is $50. (With debit purchases, many issuers offer limited protection, but you usually have to notify the issuer within two days if you want liability limited to $50. If you take too long, you could find your checking account drained — and no recourse.) However, it’s often better not to wait until a fraudulent purchase is made; you can call and ask for a new account number and a replacement card.
A disturbing article from the Wall Street Journal reports that Nearly Half of Americans Are ‘Financially Fragile’, which is defined in the article as households who “definitely or probably couldn’t come up with $2,000 in 30 days.”
The $2,000 figure was chosen because it’s roughly the cost of “an unanticipated major car repair, a large co-payment on a medical expense, legal expenses, or a home repair”—in other words, expenses that are hardly out of the question for a typical household.
According to the article 46.5% of all respondents are living very close to the financial edge—in other words, nearly half of America. And it’s one of the worst rates in the world—in Italy for example, the rate is only 20%. But it gets even worse; an additional 25.1% of U.S. respondents answered that they were “probably able” to come up with $2,000—meaning that they aren’t entirely sure.
That’s a sad state of affairs no matter how you interpret it.
How should we respond to this information? By making certain we don’t fall into the same category!Continue Reading
As a dividend investor myself, I’m always looking for my next trade. In order to find the right stock to buy, I use a free stock screener and I complete my analysis with my dividend stock analysis template. I wanted to share both tools so you can improve your stock research and build a strong portfolio.
One of the tools I use to identify dividend stocks for further analysis is the Fin Wiz Stock Screener. This is a free stock screener that allows investors to input reams of criteria to come up with a list of stocks to do further analysis on.
Here are the criteria I use to filter stocks:
At one point or another throughout our lifetime we hear about probate lawyers.
If you’re like most people you don’t pay attention until one day you’re faced with the inevitable – you need a probate lawyer.
So what specifically is a probate lawyer?
A probate lawyer manages the filing of the last testament or will of a deceased individual. Sometimes there are some wicked disputes that arise from the disposition of property. Basically a probate lawyer is an estate or a trust lawyer.
Far too many people do not think about finding a probate lawyer until someone has passed away. When this happens, then there is a sense of urgency to hire a probate lawyer therefore not allowing time to shop around for the lawyer who will best represent your interests.
One of the issues that has received a lot of attention lately is that of employers checking the credit of job applicants. Supposedly, an employer can only look at your credit report — and only a version that is meant for employers to see. Employers are supposed to get your permission before checking your credit report, and they are expected to stay away from your credit score. (There are some anecdotes involving employers who check credit scores, but credit bureaus claim they don’t knowingly give scores out to employers.) Many people are upset that employers are asking to see your credit report, while others contend that it is a necessity for some jobs. What happens if employers start checking credit scores?Continue Reading
The US Stock Market was shaken this week by seemingly bad job growth numbers. Only 54,000 jobs were added to payrolls. That sounds like a lot of people, but economists were expecting about 170,000 to be added. Over 230,000 jobs were added in April, and all the numbers this year aside from January were over 200,000. May’s number of 54,000 was much closer to January’s number. It’s a big step back according to economists, and with unemployment on the rise, fear affected the stock market. The S&P 500 dropped 1.93% for the week.
With the uncertainty in the market, Warren Buffet’s quote on fear came to mind: “We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.”
So, should you be greedy and jump into the market? Is it time to wait for the stock market to go down before hopping back in? Or does that qualify as timing the market?
While you consider whether to run with the herd away from the stock market or to step boldly into the stock market, check out these great personal finance articles:
Imagine going to a store or a restaurant and you forgot your wallet or purse. No credit cards. No cash. No problem! Whip out your cell phone, enter your pin, tap, and paid. “What,” you say?!?
Google introduces Google Wallet
Google is revolutionizing the way that we pay for things. Google has introduced a new application available on your phone that turns your phone into your digital wallet and gives you an alternate form of payment. This will allow shoppers to pay for groceries or a new outfit at the mall with their mobile device.
Is Unemployment Hurting Your Job Prospects? Why You Should Accept a Job Below Your Salary Requirements
Kelly was a lawyer making a six-figure income when she was laid off in April of 2010. Since then she has worked to make herself more marketable by going to school to obtain a Master’s degree with the hope of becoming a college teacher. She took out student loans to pay for both her additional education and to use the money to supplement unemployment.
Even with unemployment and student loans, money is extremely tight. She always enjoyed her large salary and is not used to living below her means. Now, she is still responsible for the student loan payments that have come due and car payments in addition to rent, utilities, and groceries. Her car is in need of repairs and due to the high price of gas, she limits her trips and stays home much of the day. She has very little in savings and has had to begin to rely on credit cards to get her through this lean time.