Businesses Finding Credit Tougher to Come By
April 24, 2008
Businesses are having a more difficult time obtaining credit, the result of America’s large-scale credit crisis.
The number of loans backed by the Small Business Administration has fallen in the southern Florida district, according to the area’s director, Pancho Marrero. Not only are banks making it more difficult to obtain loans, but small businesses are also hesitant to expand. Read more
College Financial Aid on the Rise
April 23, 2008
A number of leading private colleges have announced plans to boost financial aid to families that would otherwise have a tough time affording college.
For instance, Duke will be spending $13 million more on financial aid packages for families earning less than $60,000 a year. Likewise, Harvard is replacing loans with scholarships to help alleviate the financial burden for students. Read more
Keeping Checking Accounts in Check
April 23, 2008
If you fail to watch your account’s bottom line, you could end up with overdraft fees, which will put a damper on your holiday spending. In order to make sure you’re not overspending, be sure to write down all your checking account transactions - including debit card payments and account withdrawals. Otherwise, you could easily end up spending more than you have. Read more
Student Loans and Congress
April 20, 2008
As the housing market continues its down slide other sectors of the economy are beginning to feel the pinch. Financial Aid for college has been in trouble for quite some time. As tuitions rise and grants and scholarships become scarcer and scarcer more college bound students look towards loans to help pay for college. Read more
Wachovia Informs of Plans to Increase Capital
April 19, 2008
Today the banking giant Wachovia told the public of its plans to increase its base capital and operational capacities. In a press release, Wachovia reported its statistics for the first quarter of 2008, and explained the steps that it would take to adapt to the lean economic situation in the U.S. right now. In this way, the company would be able to better respond to predicted alterations in its patrons’ financial habits for the coming year.
First, Wachovia intends to increase the amount of its capital by publicly selling more shares of its stock, including both convertible preferred stock and common stock . Read more
Financial Experts Urge Caution on Rebates
April 14, 2008
Financial experts this year are urging consumers to exercise caution when it comes to spending their federal rebate checks.
The checks are the payoff from an economic stimulus package recently signed by President George W. Bush. The White House and Congress masterminded the deal in an effort to jump-start the economy.
Public officials are hoping that taxpayers will help the U.S. spend its way out of recession. However, some financial experts say that it may not be in consumers’ best interests to spend their rebate checks. Read more
2008 Brings With It New Financial Decisions
April 10, 2008
2008 may be remembered by many consumers as a financial turning point.
Faced with rising housing costs and a soft housing market, a number of homeowners have turned to credit cards to help fill the financial gap. But such a strategy can lead to plenty of financial headaches later on, including out-of-control credit card debt. Read more
National Credit Crisis Deepens
April 10, 2008
America’s credit woes appear to be escalating, according to figures released about the state of U.S. credit card debt.
Experts now say that such debt has reached $920 billion and appears to be growing. Part of the problem is the housing crisis. It used to be that homeowners took out home equity loans in order to finance emergencies. Now, given stricter loan standards, homeowners are instead turning to credit cards to get them through the tough times. Read more