Borrowing

Hey, Frequent Overdrafters! The Banks Want You!

You’re not supposed to spend money you don’t have. But this is what you’re doing when you buy something with a debit card and don’t have enough in your bank account to cover the tab—in other words, an overdraft. Since banks make money when their customers spend money they don’t have, the banks basically encourage customers to do …

Desperate Economic Times Call for … Desperately Crazy Measures?

Facing foreclosure, one man bulldozed his entire home, while another thought the best means of catching up with the mortgage payments was to set his car on fire. Here’s a roundup of people who have been pushed to the brink by awful financial situations—and who also may have had a few screws loose long before the economy tanked.

Why a Smart Consumer Is a Bad Credit Card Customer

And how you can be punished for responsible behavior: In some cases, credit card issuers have rejected applicants who have credit scores that are too good (sometimes over 800). Why? Because these consumers typically pay bills in full and on time, they’re unlikely to make the credit card companies much money.

Survey: College Isn’t All That Great an Investment

Last year, 80% of Americans believed that college was a good financial investment. Now, results from the same survey show a sharp drop in confidence in the rewards of higher education, with only 64% of people saying that college is a good investment.

Cheapskate Wisdom from … Gary Hart (About His Childhood in Kansas)

“Everyone worked, in my case starting at the age of eleven. (I don’t think there were child labor laws then.) We didn’t spend money we didn’t have. There were no credit cards. And my parents would have been embarrassed to go to the bank and ask for a loan to buy more gadgets. The Depression taught them, and they taught me, don’t

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