A landmark 2010 Princeton University study showed that money really can buy happiness — up to a very specific point. The researchers (including Nobelist Daniel Kahneman) found that up to about $75,000, annual income closely …
Personal Finance
Need a Mortgage? Better Hope Your Credit Record Is Almost Perfect
Credit requirements for home loans have remained very restrictive even as banks are offering credit cards and car loans to riskier borrowers. This has been pretty well-documented, but until now, nobody had actually crunched the …
The Crazy Way We Think About Taxes
Taxpayers like to say one thing and do another. They also have some interesting requests as the filing deadline hits. Here’s how crazy we are.
Should We Stop Referring to People as ‘Consumers’?
The term “consumers” is routinely used in place of “people” and “citizens.” While most people (consumers?) don’t notice or care much about the terms being used interchangeably, there are those who resent being labeled as …
Prepaid Debit Cards: The Lesser of Two Evils?
“I’d take the $3.95 any day over the $35 overdrafting or for some other fees.”
This statement, from a focus group participant, neatly sums up America’s evolving attitude prepaid debit cards. We don’t like the fees, but we like banks even less — and trust providers of prepaid cards more than we trust mainstream banks, according to …
Introducing the $60 Light Bulb
The Associated Press reports that the Phillips LED light bulb that won the government’s L Prize—a $10 million contest to replace the traditional incandescent bulb—will go on sale as of Earth Day with a full retail price of …
One Online Petition’s Goal: Ending Junk Mail
As the U.S. Postal Service increasingly promotes its new direct mail program, one group is trying to stop that mail from ever reaching your mailbox.
What Happens If You Don’t Pay Your Taxes?
“Ignore them and they’ll go away” is great advice for some of life’s annoyances. Unfortunately, it doesn’t apply to taxes. While the IRS has taken great pains to rehab its scary image (and is actually pretty decent to deal with), it still can and will go after people who blow off their taxes and deliver some pretty expensive consequences.
Here We Go Again: Is College Worth It?
A new report shows that Americans are investing like crazy in college savings plans. But the financial value of a four-year degree remains difficult to assess and is often disappointing.
Why Millions Won’t Be Able to Afford Cars in the Future
By 2025, the government will require an average fuel economy of 54.5 m.p.g. for cars and trucks sold in the U.S. To meet that requirement, automakers must focus on more efficient, technologically sophisticated cars that cost more upfront to build — and whose costs are ultimately passed along to consumers. How much more will these cars …
‘Free Gas for Life’ Scam Shut Down; $2 Million to Go to Victims
The promise of being able to fuel cars for free — and power homes for free, too — proved a powerful lure for consumers who ended up getting sucked into a magazine subscription program and never did get the secret of “free gas for life.”
Here’s How Your Identity Will Be Stolen: The Top 10 Scams
For the past 12 years, the top category of consumer complaints fielded by the Federal Trade Commission has been identity theft. In 2011, this category made up 15% of all complaints. Crooks have many ways of stealing your personal …