From the monthly archives:

February 2008

Map of US States Compared to World Economies

February 29, 2008

I found this map on the Carpe Diem Blog comparing the economies all US States to  the GDP of various world economies.  For instance, the economic output of Texas is roughly equivalent to the GDP of Brazil.
It helps to put into perspective how truly rich this country is.

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What is the Dow Jones Industrial Average?

February 19, 2008

With Bank of America and Chevron entering the Dow Jones Industrial average today, I thought it would be a good time to discuss exactly what this closely watched stock market indicator is, and how it is configured and calculated.
History
The Dow Jones Industrial Average (DJIA) was originally, as its name implies, an index of twelve of [...]

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Big Mortgage Lenders To Pause Foreclosures

February 12, 2008

Six of the largest US mortgage companies – representing about 50% of the current mortgae market – announced a plan today to suspend foreclosure proceedings on mortgages that are greater than 90 days past due. 
This pause would allow time to attempt renegotiation of mortgage terms.  The plan would include home equity loans and secondary [...]

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Do We Have To Pay Back The Tax Rebate?

February 11, 2008

Do We Have To Pay Back The Tax Rebate?
Short Answer: NO.
I have read a lot of misleading stories on the rebate portion of the Stimulus Bill.  For instance, Liz Pulliam Weston, writing in MSN Money writes:
To produce this cash, Congress created a one-time tax credit to reduce taxable income for most taxpayers this year.
Normally, [...]

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Details on Final Stimulus Bill

February 8, 2008

The House and Senate passed the final version of the stimulus bill only three weeks after President Bush’s initial proposal.
The final plan will cost an estimated $168 billion versus the $150 billion cost of the House plan.   The Senate plan included rebates for senior citizens and disabled veterans. 
Here’s the final breakdown:

Most single filers will [...]

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Latest News On The Stimulus Bill

February 7, 2008

UPDATE: The House and Senate have passed the final version of the Stimulus Bill. You can read the details in this post:

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Top Financial Goals For 2008

February 6, 2008

This is a little old, but I think it’s still relevant this early in the year.
Back in November, CNNMoney.com conducted a poll that asked respondents about their top financial goals for 2008.
Here are the results:

33% – Pay down debt.
23% – Save for retirement.
11% – Build an emergency fund.
11% – Buy real estate

Source: CNNMoney.com poll of [...]

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Americans Embracing Frugality . . . Because They Have To

February 4, 2008

Very interesting article in The New York Times today discussing how more and more Americans are taking on a pay as you go lifestyle.
According to the article, they are not doing this because of a newfound realization of the benefits of a frugal lifestyle, instead, it is because they have no other alternatives.
From credit cards, [...]

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Where Do Your Tax Dollars Go?

February 4, 2008

I wanted to share this interesting graphic from The Wall Street Journal:
 
 
 
It shows all Income and Expenses of the US Government as projected in President Bush’s Fiscal 2009 budget, which begins October 1. 2008.
As you can see, the projected deficit will be over $248 Billion.
We continue to mortgage our children’s future so that we [...]

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Managing Gift Cards

February 4, 2008

I hate gift cards.  
Stores love them because they get income up front without having to immediately produce a good or service, they receive interest income on that income until the card is redeemed, and they know that a sizable portion will never be redeemed.  Additionally, after a period of time, the stores will [...]

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