American Consumer Credit Counseling Reveals the Financial Fumbles of Well-Known Athletes

American Consumer Credit Counseling Reveals the Financial Fumbles of Well-Known Athletes (via PRWeb)

As the world’s highest-paid athletes rake in millions, national nonprofit debunks the myth that wealthy consumers are immune to money troubles and offers advice through financial literacy blog. The stories of pro athletes like Tyson, former New York…

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Debt Consolidation USA Discuss Working Around Money Concerns In Marriage

Debt Consolidation USA Discuss Working Around Money Concerns In Marriage (via PRWeb)

Debt Consolidation USA shares the money concerns of married couples and how to handle them. DebtConsolidationUSA.com marriage also increases the expenses and sometimes might even be bigger than their individual expenses combined Phoenix, AZ (PRWEB)…

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Can Being a Female Breadwinner Lead to Divorce?

Can Being a Female Breadwinner Lead to Divorce? (via www.mybanktracker.com)

According to the most recent data compiled by the Labor of Bureau Statistics, full-time women workers earned a median weekly wage of $691, which is 81 percent less than the average man. Despite the fact that women typically earn less than males, 24…

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100 Best w!se High Schools Teaching Personal Finance Rankings Announced

100 Best w!se High Schools Teaching Personal Finance Rankings Announced (via PRWeb)

Second Annual Personal Finance Education Rankings Announced New York, NY (PRWEB) April 07, 2014 – Second annual event marks the 11th anniversary of the national Working in Support of Education (w!se) Financial Literacy Certification Program Passaic…

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The Potential Millionaire Ep. 29 / Potencial Millonario Ep. 29

Hoy hablamos de la compra de un auto (carro, vehículo, o coche), para poder comprar el mejor auto por nuestro dinero. Muchas veces la compra de un auto es una necesidad y usted no se puede dejar timar por persona inescrupulosas.  Mas hoy escucharas los secretos para salir de deudas. Si tienes muchas deudas y estas atrasado con los pagos este es el programa para usted. Y por ultimo contestamos sus preguntas que llegaron por Facebook, Twitter, y Potencialmillonario.com 

 

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Escuche , Haga Click abajo

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Survey Says: We’re Carrying Less Cash [AUDIO]

By Joe Cutter

 


Every day, while 49 percent of respondents in the survey carry as little as $20, or even less. 
Greg McBride, senior financial analyst for Bankrate.com, doesn’t believe we are ultimately moving toward a cashless society but said we may be getting closer to it.

“Stagnant incomes have taken a toll on a lot of household budgets,” he said.

Only 7 percent of Americans are packing $100 or more on a daily basis, according to the survey.

“We did find, not surprisingly, that women are more likely to carry less cash than men,” McBride said.100_4248

The poll said 86 percent of women carry less than $50 with them every day. That’s compared to 70 percent of men.

McBride believes we will still need cash for certain daily transactions. He said there may be those odd encounters with a bellhop or some other sort of service personnel where plastic does not cut it.

For more highlights of Bankrate.com’s May 2014 Financial Security Index, click here.
Read More: Survey Says: We’re Carrying Less Cash [AUDIO] | http://nj1015.com/survey-says-were-carrying-less-cash-audio/?trackback=tsmclip

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Manage Your Money More Effectively

Manage Your Money More Effectively (via MISEL | Earn Money Online Blog)

The society we live in and the pressure to spend that is all around us can make it difficult to save any money. From aggressive store promotions to sale catalogs and constant TV ads, you must use discipline to avoid buying each day. The tips in this…

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Potencial Millonario Ep. 28- Liderazgo Hoy con Victor Hugo Manzanilla (parte2)

Potencial Millonario Ep. 28- Liderazgo Hoy con Victor Hugo Manzanilla (parte2)
En este programa de Potencial Millonario hablamos del día de las Madres y les pregunto valora usted a las mujeres en su vida? También discutimos los diferente trabajos que una madre puede hacer desde su casa. Y terminamos con la segunda parte de la entrevista con Victor Hugo Manzanilla, Blogger de Liderazgohoy.com donde hablamos sobre los hábitos que te llevan al éxito.

Potencial Millonario Ep. 28- Liderazgo Hoy con Victor Hugo Manzanilla (parte2)

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Potencial Millonario Ep. 28- Liderazgo Hoy con Victor Hugo Manzanilla (parte2)

Groups Use Cash Prizes To Encourage Saving

NPR

By: Pam Fessler

Correspondent, National Desk

Audio Link: http://www.npr.org/player/v2/mediaPlayer.html?action=1&t=1&islist=false&id=288637271&m=288712997

When it comes to getting ahead in the world, a lack of savings can be a big hurdle, especially for low-income families. Most don’t have enough money set aside for emergencies, let alone for college or a house. Some people think the answer is to make savings more fun, like the lottery, with the chance to win big prizes.

It’s called prize-linked savings, something that’s been available in Great Britain for decades. Now, it’s starting to catch on in the United States.

One of the newest programs is called SaveYourRefund, launched recently by a nonprofit group called Doorways to Dreams. It’s one of many organizations trying to find ways to encourage low- and moderate-income people to save more, especially at tax time. For some people, their federal tax refund is the biggest check they’ll see all year.

So the group is offering one $25,000 grand prize and 10 weekly $100 prizes for those who agree to put some of their tax refund into savings, using Form 8888 on their tax return. The program is being promoted especially at free tax preparation sites that cater to low-income working families.

Joanna Smith-Ramani, of Doorways to Dreams, says for these families, even a little savings can make a big difference.

“At a basic level, people need savings to get them through even the smallest of financial shocks or their life just goes into total chaos and catastrophe,” Smith-Ramani says.

Just one unexpected bill, she says, can set things off.

In Britain, ‘Savings With A Thrill’

Actor Roger Moore, who played James Bond, poses for a photo promoting Britain's Premium Bonds program.

Actor Roger Moore, who played James Bond, poses for a photo promoting Britain’s Premium Bonds program.

National Savings and Investments

The United Kingdom has had a prize-linked savings program for decades, and its success has drawn the attention of those interested in expanding savings among low- and moderate-income families in the U.S.

Introduced to Britons as “savings with a thrill,”the Premium Bond program was started in 1957 to encourage savings and fight inflation.

But instead of getting interest on their accounts, investors get a chance to win a prize. Individuals invest a minimum of £100 (about $150) to enter a raffle for monthly tax-free prizes, ranging from £25 to £1,000,000. Every £1 invested is another chance to win and over a million people win each month.

The bonds are extremely popular. Nearly 40 percent of Britons held them in 2006. The average bondholder invested the equivalent of about $2,330. Today, there are close to $70 billion in total holdings.

The program is also cloaked in a bit of British “Bond-like” intrigue.

Winners of the £1 million jackpot get a visit from an anonymous individual identified only as “Agent Million,” who informs winners confidentially that they have won the jackpot. Agent Million also advises winners on investments and other options for handling the money.

In a 2012 interview with the Daily Mail, the woman who held the Agent Million job said it was great to see people’s reactions when she gave them the good news.

“It can be emotional and a lot of people cry. One of my favorites was a woman who had just sold her house as she couldn’t afford to keep it — and then with the news, her financial worries were gone.” she told the paper.

— Andrew Small, NPR

“Your car breaks down. You can’t pay for it. You can’t access other credit. Your family can’t help you. How are you going to get to work?,” she says, adding that could then lead to loss of a job.

But getting people with so little money to save can be a challenge.

“I need every penny, I need every penny, ” says Baltimore truck driver Wilbert Braxton, who’s waiting for free tax help at a site run by the Baltimore CASH Campaign (the acronym stands for Creating Assets, Savings and Hope). He says he tries to save money, but always needs it before too long.

“Bills, bills, and bills. You know, that’s my life. I work and pay bills. I got two kids in college. They need everything. You know, loans have to be paid back,” he says, adding that he also has car payments to make.

And his comments are pretty common.

Still, research shows that low-income people, who might think they can’t save, do spend a disproportionate share of their income on lottery tickets and gambling, on the off chance they’ll hit it big. And it’s that desire to win that proponents of prize-linked savings are trying to harness.

Maya Gaines, with the Baltimore CASH Campaign, tells her clients that they can do both — save and maybe win — if they split off some of their tax refund into savings.

“If you split it, you get entered to win this contest, this amazing contest, over $25,000. I mean who doesn’t want to enter a chance to win $25,000?” she tells 62-year-old Carlos Jordan.

At first, Jordan is skeptical. But then, about an hour later, he’s changed his mind. His tax preparer has convinced Jordan that it makes sense to use $50 of his refund to buy a U.S. savings bond. Like everyone else at this site who decides to save, he’s greeted with bells and cheers.

“Well you know, money grows” Jordan says. “And savings bonds are where it’s at, for now. I just thought it was a good thing.”

And others seem to think so too. The Baltimore CASH Campaign says tax-time savings jumped almost 500 percent, to $34,000, the first year it offered cash awards.

And in Michigan, almost three dozen credit unions have seen a big growth in savings since offering prizes as part of another program called Save to Win. Now credit unions in three other states are doing the same.

And there’s a bipartisan effort in Congress to pass legislation that would allow banks to offer such programs as well.

Lori Wesp, a single mother in Rochester, N.Y., says the prizes make a difference to low-income people like her.

“It’s hard, paycheck to paycheck, paying everything, so when you get a little incentive like this, it helps out tremendously,” she says. Wesp recently won $100 in the SaveYourRefund promotion in Rochester, after setting aside half of her tax refund to help pay for her daughter’s summer camp.

The prize isn’t much, but Wesp already knows how she’s going to spend it.

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The Changing Picture Of Poverty: Hard Work Is ‘Just Not Enough’

 

NPR

From npr : War on poverty, 50 years later

Audio Link: Click on photo

There are 46 million poor people in the U.S., and millions more hover right above the poverty line — but go into many of their homes, and you might find a flat-screen TV, a computer or the latest sneakers.

And that raises a question: What does it mean to be poor in America today?

Take Victoria Houser, a 22-year-old single mother who lives in Painted Post, a small town in western New York. At first glance, her life doesn’t look all that bad. She lives in a cozy two-bedroom apartment. She has food, furniture and toys for her almost 2-year-old son, Brayden. He even likes playing a game called Fruit Ninja on her electronic tablet.

“He just likes touching it because he always sees me on my computer, my iPad or something,” Houser says.

Brayden’s father is out of the picture, and Houser knows she could be a lot worse off. At least she has a job earning $10 an hour preparing food in a company cafeteria.

Still, you don’t have to look too far to see that her life is teetering on the edge. Her nice-looking apartment? “It’s kind of not a very safe place to live,” she says. “There’ve been quite a few drug busts here.”

Houser says she’s scared to let her son play outside. Her next-door neighbor was recently arrested for allegedly murdering someone and stuffing the body in a cupboard.

Victoria Houser and her son, Brayden, may have food to eat and toys to play with, but she says she feels like she’s teetering on the edge.

Pam Fessler/NPR

But this subsidized housing is all she can afford. Most of Houser’s paycheck goes for things like food, diapers and gas. And she says what look like luxuries are necessities for her. They’re also mostly gifts from family or friends. She says she has a car to get to work, a computer to take online college courses, a cellphone to check up on her son.

But there’s one thing Houser doesn’t have, and that’s a lot of hope for the future.

She says she feels stuck in a never-ending cycle, constantly worried that one financial emergency — like a broken-down car — will send everything tumbling down.

“Poor to me is the fact that I’m working my butt off. I’m trying to go to school. I’m trying to take care of my son, and that’s just not enough,” she says.

And it’s this frustration and despair that those who work with struggling families say is the true face of poverty today — that it’s not just a lack of material things.

“It used to be that if you were poor, you just didn’t have the basic things, like maybe you didn’t have a washer and dryer, and you were able to get by,” says Kelly Wells, a case manager for Pro Action, a nonprofit community action agency that’s trying to help Houser and others like her.

“Now what I see with families is if you’re poor, you’re poor in every avenue: emotionally, supportwise, familywise,” Wells says.

She and other social service providers in western New York say they’re seeing more families ripped apart — by drug abuse, domestic violence and mental illness.

50 Years Later, Poverty Looks Different

The face of being poor has changed since the 1960s, when President Johnson declared a war on poverty. For example, in 1960, 63 percent of poor people had hot and cold piped water, 65 percent had a bathtub or shower and 69 percent had an indoor flush toilet.

In 2010, nearly 100 percent of poor families lived with similar amenities.

And in 1960, only half of poor people had phones; in 2010, 95 percent did.

The Cycle Of Poverty

At the Family Resource Center in the town of Bath, N.Y., where Pro Action is located, a young mother plays with her giggling 9-month-old son. The mother is petite with long, curly brown hair. And she has a huge black eye.

Right now, the mother gets to visit her son at the center once a week. She lost custody because of suspected drug abuse and violence in the home. The father is in jail. The father’s stepmother now cares for the boy.

The stepmother, who has come to pick him up, says he was in a lot of danger at home, and child protective services “basically told me I either take custody or he has to go to foster care, and I wasn’t going to let that happen.”‘

She says she and her husband now care for three of their grandchildren.

“We want them to have a good work ethic, morals, values. We don’t want them learning the kinds of things they would learn at home,” she says.

Social workers say they see lots of stressed-out families, with kids paying the price.

Marsha Patrick runs the local Head Start program. She says she had to hire nine extra classroom workers this year to deal with growing behavioral problems among the children.

“Everything will be fine, and then all of a sudden they are literally off the wall. They might be walking on the tables. They might run up and down on the radiators,” she says. “They just cannot control whatever it is that’s making them go off like that.”

Patrick suspects that it’s the strain of living with adults who are overwhelmed by life or who don’t have the skills they need to raise children because they themselves came from troubled homes.

Her program is trying to break the cycle. But Patrick says it’s difficult, especially with factory jobs that used to support a middle class in this region disappearing in droves.

“Unless we have those jobs to offer those folks, that they’re going to feel good about and want to go to work for and do, the kids are going to be the ones who are suffering, and we’re seeing it,” she says.

Isolated And Disconnected

But, of course, poverty is about more than a lack of jobs. It can also mean isolation.

Frank and Amber Adams live in a trailer home in rural Hammondsport, also in western New York. The yard is filled with chickens and ducks, cats and dogs.

Frank, 41, has been poor his entire life. He says it’s been a lot of ups and downs, but mostly downs. He survives by selling scrap and doing odd jobs and masonry work.

Frank and Amber Adams of Hammondsport, N.Y. He sometimes has to redeem empty soda cans to buy gas to take Amber to counseling classes.

Pam Fessler/NPR

The Adamses have seven children between them, from other relationships. But the children are scattered about, and right now, Amber’s goal is to regain custody of her youngest three. But first she has to clean up her act. She’s a recovering crack addict. So is Frank. He says it’s pretty common in this part of the state.

“There’s lots of people that just aren’t happy with themselves or what have you,” he says. “Maybe they don’t have a job, so they gotta sell some of the drugs to make money, and then they get addicted to the drug themselves.”

He says drugs are readily available, but about a year ago, he and Amber looked at each and asked, “What the hell are we doing?”

They got married, and now he’s helping her through counseling. But it’s a struggle. Frank says sometimes he has to redeem empty soda cans just to buy gas to take Amber to counseling classes.

He says he thinks it’s harder being poor today than when he was young.

“People aren’t as outgoing and gracious as they were back in the day. Back in the day, your neighbors helped each other,” he says.

And that’s a big difference for poor families today. They might have TVs and cellphones, but researchers say they can be more disconnected than ever — from neighbors, work, family, all of the social networks that help people through life.

Amber takes a picture off the wall, which shows six of their seven children dressed up for their wedding last summer. And she reads the words written on the side: Family, together, we have it all.

For now, it’s something they can hope for.

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