For Questions and Orders, Call
Quick Exchange Rate Tip for Foreign Travelers If youre financially stable enough to have trips to foreign countries planned in the coming months you might want to be keeping an eye on the foreign exchange rates. The value of the American dollar has been in steady decline for the past few years, and current figures put the U.S. dollar in a very unfavorable spot. When stacked against the euro, the dollar was valued at $1.324 on Friday, $1.332 on Wednesday, and $1.318 on Tuesday. Against the pound, ... Wells-Fargo Takes Control of Wachovia Wells-Fargo & Co. completed their $12.7 billion acquisition of Wachovia Corp. this past Friday. The California-based bank now heralds itself as one of the strongest financial companies in the nation and Americas #1 small business leader and can now lay claim to over $14 trillion in assets. The move puts Wells-Fargo in control of Wachovias 11,000 stores and 12,260 ATMs operating out of 39 states and does indeed make Wells-Fargo the nationwide leader in small business lending, agriculture lending, commercial real estate lending, ... Did American Express Become a Bank Just for Bailout Money? American Express made their announcement to the world that they are becoming a bank. With credit failure and consumers spending crashing, American Express decided to dive into the world of banking in order to stabalize themselves financially using government bailout. The Federal reserve approved the company's request which will now lead American Express into a more secure future with access to funding and the big rescue bill. Since the global credit crunch, AmEx is now the third financial company ... The 9 Banks of the Bailout The news has been dominated in recent weeks by talk of the massive government bailout of the commercial banking industry. The government didnt just throw this money around aimlessly, though. Instead, they have slotted the funds for the 9 banks of the bailout, which are all in desperate need of federal help in order to keep their operation viable. So who are these 9 banks of the bailout and what is their current situation looking like? This article will detail ... The Federal Reserve The Federal Reserve, simply put, is the central banking system for the United States. The Federal Reserve is ran by an appointed board of governors, and is located in Washington, D.C. These individuals are chosen by the acting President. The Federal Reserve itself is composed of the Board of Governors, an Open Market Committee, and 12 regional Federal Reserve Banks. These banks act as agents to the U.S. Treasury. Central banking was an idea iniated by Alexander Hamilton. ... Regional Banks and the Credit Crisis As just about everyone knows by now, there's a credit crisis going on in the country that doesn't look like it's going to end any time soon. The economy is dragging, debt is at an all time high, homes are being repossessed, families are losing their savings, and the stock market is losing ground almost daily. This is probably the worst time for the economy and the banking system since the Great Depression first started in 1929, but there is ... Online Banking: 8 Reasons To Love It! When midnight struck and calendars were flipped from December 31, 1999, there was great concern about whether or not banking systems and computers would make the transition to the new century. Thoughts of widespread use of online banking were definitely few and far between. Today, just 8 short years later, online banking is used, in some form, by the majority of bank customers in America. Online banking options are necessary for banks to grow and compete. Not to mention, there are lots ... Q & A: Is “cashless” really where we want to go? I admit it. Since debit cards have become readily accepted, I rarely have cash. I like the fact that I can use a debit card for $3.51 or $351, whatever the situation calls for. And I like NOT having to think about whether or not I need to go to the bank before I go somewhere to purchase something. I stop short, though, when I hear talk of conversion to a "cashless" society. There is something about that idea that just ... Discovering The Danger In A Debit Card According to the Federal Reserve, the number of debit card transactions is increasing by more than 20% each year. Debit cards seem to be the ideal balance between carrying cash and using credit cards (i.e. increased debt and interest charges). After all, don't debit cards look, act and get accepted like credit cards? Yes, but it does not change the fact that they are NOT credit cards! There are some very significant differences, even potentially dangerous ones, between credit ... Paperless Payments For Just About Anything! Most, if not all, of us are familiar and comfortable with some form of electronic payments, even if we don't always realize it. Credit and debit transactions are electronic payments and rarely a day goes by when we don't make at least one of those! In truth, ANY non-cash financial transaction is an electronic payment. From paychecks to pensions, electronic payments are replacing the traditional methods of paying with cash and checks and they affect anyone with a bank ... DIAGNOSIS: ARM "Mr. Gage? Dr. Banks is ready for you." DR. BANKS: What seems to be the problem today? M. GAGE: I am worried about losing my house. My house payment is going up - a lot! DR. BANKS: Tell me about that. M. GAGE: Well, when I bought my house a couple of years ago, I got a mortgage with a really low monthly payment. Before I applied for the loan, I remember being worried about being accepted. I had ... Finding A Fix: 10 Tips For Resolving Financial Disputes Account and billing mistakes are a reality of personal finances. From the cable bill to the credit card statement, at some point, errors will occur. These errors, even the small ones, become financial disputes that must be resolved. Handling these financial disputes effectively is a skill that can and should be learned. Certainly, each dispute is unique and it must be handled accordingly. These tips, however, will provide some general guidelines for getting a satisfactory result, no matter what ... The End of the Paper Check Path (a financial fairy tale) Once upon at time in the United States of America, there were small rectangular pieces of paper called checks. Officially, a check was "A negotiable instrument drawn against deposited funds, to pay a specified amount of money to a specific person upon demand." Paper checks were numbered, bound in books and issued by banks. Before issuing checks, banks required customers to set up a checking account and deposit money in it. Many citizens used checking accounts as the primary ... Where should children save money? NOTE: This post addresses general savings options, NOT educational savings options. Educational savings options will be covered in a later post. Parents are responsible for teaching their children LOTS of things! One of the major things children have to learn and understand is FINANCES. In particular, children need to understand the importance of saving and "growing" money. Not growing it on a tree, mind you, but growing it through budgeting and making wise choices. Before parents can teach their ... Put your article here… If you have an article that you would like to have featured on My Money Thinks, submit it for our blog carnival consideration. We are accepting articles related to all areas of personal finance and we want to read what you have written. SUBMISSION DEADLINE: Saturday, August 25, 2007 Links to accepted articles will be posted on Tuesday, August 28, 2007 ALL submissions should be sent to http://blogcarnival.com/bc/cprof_2240.html We cannot wait to hear from ... Get interested in “getting” interest Are you one of those people that is not interested in interest? If so, you might want to get interested. Not just in earning interest but in "getting" (understanding) it also! Whether you realize it or not, you have an interest in interest. It affects your mortgage, your car loan, your unsecured debt and your investments. Interest affects your cash flow and, thus, your daily life. The concept of interest is not a difficult one to understand. The application ... OSAs are MVPs In spite of a number of "doom and gloom" reports regarding the poor savings habits (or lack thereof) of Americans, consumers cannot complain about the availability of high-yield savings options. The majority of those high-yield accounts are provided via the Internet in online (or "virtual") banks. Online banking has origins that go back three decades. Telephone banking was the 1st option for customer controlled, at home management of bank accounts. The beginning of online banking, as we recognize it ... Money Up Front: 5 Tools for Paying Right Now In her recent article, "Many In U.S. Don't Have Bank Accounts", Jeannine Aversa indicates that "As many as 28 million people in the United States are forgoing traditional financial institutions..." More than likely, those people are living, working, and buying without plastic! In today's society, there are very few things that cannot be bought with some form of plastic. Since Americans are accumulating more and more debt, perhaps we would be better off if we were forced to pay ... Having Money to Make Money Unless you are very unusual, you have loose change around your house, car, purse, etc. By some estimates, there is as much as $10 billion is loose change sitting in American homes right now. That's a lot of money to be gathering dust instead of earning interest! Before you get too busy looking for your share of that money, you need to keep this in mind... If a coin is not in circulation, it is not doing its job. If ... Banking Basics How much do you really know about banking? Not YOUR bank, necessarily, but the banking process in general. Do you know how banks operate the way they do? I confess that banks are one of those things that I have thought were just there because they had always been there. I decided to educate myself a little more thoroughly about banking. Actually, it is pretty interesting not to mention that it helps what I know about money make a ...