Archive for the ‘Personal Finance’ Category

More Bliss For Your Buck

If you’ve ever bought a major appliance for no money down and no payments for 12 months, you already know the misery that comes from having to pay for something you’ve already “owned” for a year. But have you ever thought about the benefits of doing the opposite?  By prepaying, you psych yourself into feeling like you got something free. Paying in advance is just one of the 5 principles outlined by Elizabeth Dunn and Michael Norton in Happy Money: The science of smarter spending. Endorsed by such luminaries as Dan Ariely, Dan Gilbert, and our own Chip Heath, Happy Money is full of amusing anecdotes and great advice on mindful spending.  Check it out and learn for yourself that “if you think money can’t buy happiness, you’re not spending it right.”

Happy Money is in the GSB Library stacks under call number HG 179 .D8587 2013.

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Debt ceiling

It’s only noon and I’ve already seen two articles today on student debt, including this one in The Atlantic.  The cost of attending premier universities like Stanford  —  and even lesser-known schools  —  is now over $50,000 a year. Without a scholarship or some other means of relief, a student loan can be a heavy burden for a young person just starting out.  And student loans aren’t quite the same as other types of loans;  they bring their own special risks and demands.  In an era when a college degree is almost considered a birthright, how will Americans’ expectations cope with cold financial reality?

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Big Brother

Your credit card company knows your shopping habits and uses them to monitor your credit, according to an article in DailyFinance. If you normally shop Nieman and then suddenly it is all Target, all the time, your credit card company will take notice. Don’t even think of using your credit card to pay for your marriage counselor because your credit card company will see that as a potential red flag. After all, a divorce could mean late payments — or none at all. Paying a traffic ticket by credit card may indicate irresponsibility and suddenly your credit card company has capped your credit, or possibly closed your account. Data monitoring is one of the ways credit issuers use to recoup losses associated with the CARD Act of 2009,

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Taxes Now or Never

Theoretically you should have mailed your taxes already, for the rest of you there is still time until midnight. For those of you who have filed for an extension this might still be helpful. The Nightly Business Report has put together a list of Tax Tips 2007 for you. If you owe taxes it might be nice to know you are not alone in the boat some very famous people have owed taxes. Additionally don’t forget this is a very special year you aren’t eligible for the Economic Stimulus money if you did not file your income tax.

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