Ask the Readers

Ask the Readers: Do You Carry a Credit Card Balance?

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As I've mentioned plenty of times in the past, I use a debit card for all of my spending, since it's easy to track, the same as cash, and convenient. But I understand the argument for using your credit card the same way, if you can control your spending, pay off the bill every month, [...]

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Ask the Readers: Have You Gone Paperless?

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In the age of online banking and digital record-keeping, it's more convenient than ever to stop collecting piles of statements, receipts and even your bills. But that doesn't mean people are ready to make such a change. A paperless financial lifestyle is easier said than done, but it's accessible to just about anyone who wants [...]

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Ask the Readers: Why Did You Choose Your Bank?

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Last week, I had to open a new checking account specifically for my business, and ended up going with a totally different bank than I would have originally thought. I use Bank of America for my main personal checking, mostly because they're all across the country and, even though I hate going, there are two [...]

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Ask the Readers: How Are You Improving Your Financial Situation?

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There is good news coming from the recession. Last week, we learned that American consumers have cut their their debt by $21.6 billion, the largest ever on record, with credit card usage accounting for $6.1 billion of that total. Add that to the personal savings rate hitting 6.9% in May, the highest since 1993, and [...]

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Ask the Readers: Is the Economy Back on Track?

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We don't normally get too focused on the economy here — actually, ignoring the economy is often a good idea for your finances — but it's nearly impossible to treat the current recession as a blip on the radar. And, thanks to the media, "in this economy" has become an oft-repeated phrase to describe our [...]

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Ask the Readers: Do You Manage Your Own Investments?

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As the role of money managers and investment advisers change following the stock market crash, many "normal" investors are re-evaluating the value in hiring someone to make financial decisions for them. You know that we're big proponents of understanding what you're investing in and, if you feel comfortable, managing those investments yourself. But it may [...]

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Ask the Readers: Do You Split Your Direct Deposit?

While doing some research into direct deposit statistics, I came across an interesting release (PDF) as part of America Saves Week (which happened in February). The Consumer Federation of America (CFA), which managed the campaign, is encouraging people to split the direct deposit of their paychecks — meaning, have some of it go directly into [...]

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