Tim Mullaney reports that according to new census data, more Americans are debt free, but for those with debt, their total indebtedness has increased 40%! Unfortunately, the biggest increase is among seniors.

The percentage of U.S. households carrying any debt dropped to 69% in 2011 from 74% in 2000, the government reported. But the median debt load rose to $70,000, from an inflation-adjusted $50,971.

The article speculates that good portion of the increased debt by seniors may have been taken on to assist their adult children with their own financial struggles following the economic downturn that began in 2007.

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Further signs that the economy is improving.

Timely repayments improved on all 11 of the consumer loan categories tracked by the American Bankers Association in the final quarter of last year, the first time that has happened since 2004, according to the organization’s chief economist.

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Overdraft Fees Are Up

March 20, 2012

Per Moabs, banks raised overdraft fees by an average of $2.50 per item last year. The increase is linked to guidance from the FDIC and OCC on overdrafts which in turn cost banks billions in fees. Moab believes the rise in overdraft fees will cost consumers who overdraw their accounts an additional $2 billion per [...]

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Fix for WordPress Upgrade Fatal Error on 1and1 hosting.

March 20, 2012

Note: This post is a bit meta, and not related to personal finance, but I believe it is important information that many people will find helpful. This blog runs on WordPress and is hosted on 1and1.com. I have been generally happy with their service, but each time I have to upgrade WordPress, I receive an [...]

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How to Save Money on Airfaires

May 29, 2011

Nate Silver has a great article in The New York Times magazine that explains how to save money on air travel by booking travel by utilizing clever routing. This is a must read for frequent flyers.

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Frugality and Accumulation

September 3, 2010

The Simple Dollar has a good article up today on the subject of frugality and accumulation.

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5 Ways Twitter Can Save You Money

June 19, 2009

Although Twitter is a very simple concept, the uses people have found for it are mind boggling. Mashable has found 5 ways Twitter can save you money: Find Deals Save on Gas Budget Better Collect Debts Avoid Bad Investments. Click through for the full article.

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Sometimes Do It Yourself Is Not The Answer

May 19, 2009

When tackling a home improvement project, sometime the most important thing to remember is to know your limits. Even to Save Cash, Don’t Try This Stuff at Home

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Leftovers Log

May 16, 2009

Eating leftovers is a great way to save both money and time. However, a problem can arise when you spot a tasty dish in the fridge and can’t remember when it was cooked. Not wishing to take a chance on it, you chuck the leftovers in the trash and fix something fresh, or worse, call [...]

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Return of the Uptick Rule

March 10, 2009

According to U.S. Rep. Barney Frank, chairman of the House Financial Services Committee, the Securities and Exchange Commission could restore the uptick rule within a month. The uptick rule prevents a short seller from initiating a sale until a stocks last move was upward. The uptick rule had been in place since the 1930′s, but [...]

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