Financial Solution News

Did you know the Federal Reserve is a privately held company?
Look it up in your local phone book. You will NOT find them in the Government section as one might think, however, you will find them in the business section. In fact, the Federal Reserve is as much a government entity as is Federal Express.
So where does our money come from? Where does it go? Who makes it? The money magician’s secrets are unveiled. Here is a close look at their mirrors and smoke machines, the pulleys, cogs, and wheels that create the grand illusion called money and the Federal Reserve.
A boring subject? Just wait. You’ll be hooked in five minutes. It sounds like a detective story, which it really is, but it’s all true. Based on Mr. Griffin’s book of the same title, this address will shatter your old ideas about money and change the way you view […]

Original post by Admin

The Federal Reserve is currently reviewing regulations that impose limits on how much investment firms can invest in banks, looking to see if they can make it easier for banks to raise capital.
Is this necessary? Rules were put in place to avoid large Industrial Loan Corporations from controlling banks and the availability of credit. Why would a private equity firms be different?

The concern we have with the Industrial Loan Companies is that commercial firms can go in and gain control of banks. What private equity firms are interested in is not a controlled investment, but they are more interest in trying to get a good return for their money by picking up shares of banks.
Do banks need these changes? Are they finding it hard to raise capital?
As the chairman of the FDIC testified a few days ago, almost 99 percent of banks are well capitalized in the […]

Original post by Admin

This is part one of a two part guest post from Debt Lead, who has a debt consolidation website by Kimberly Credit Counseling.
Newspapers, radio, TV and the Internet are filled with advertisements that offer to erase accurate negative information in your credit file. The credit repair scam artists who run these ads can’t deliver. Only time, a deliberate effort, and a plan to repay your bills will improve your credit history record. Part 1 is to help you understand credit reports so you can be an informed consumer, while part 2 looks at credit repair scams.
Credit Reports
Does your credit report accurately represent you? A recent study conducted by the Public Interest Research Group (PIRG) found over 70% of credit reports contain errors. Among the principal findings of the report were the following:

Twenty-nine percent (29%) of the credit reports contained serious errors that could result in the denial of credit.”
[…]

Original post by MoneyNing

All of us have many stories to tell but when do we ever spend time to read or listen to other people’s stories?  Well, here’s your chance with the 64th edition of Carnival of Money Stories!  As always, there are many great stories for us to learn from as long as we are willing to do so!
Editor Choice

Terry Dean presents From a Sale to An Experience. What are you doing to turn a sale into an experience?
Dorian Wales presents The Personal Financier: Actively Manage Your Career to Stay On Top of Your Game. Always move forward! Staying in the same spot is just another way of moving backwards!

Career and Business

vh presents Amazing Grace! Annual Review Miracle. Some creativity and you could get a raise too!
Michel Fortin presents Apply The Law of Contrast to Build Desire. Selling is a skill everyone should have and […]

Original post by MoneyNing

I just realized that I never balanced a checkbook nor do I even know what balancing a checkbook is! I always heard that it was very important to balance my checkbook but I never bothered to figure out what the difference was between my checking account and my credit card transaction list since I can log onto both online and see all the transactions.
Therefore, I did a bit of research on the topic and here’s what I found:

Balancing a checkbook is to make sure our records matches the banks since they can make mistakes
It is to also make sure our records are correct so we don’t write a check with money we don’t have as bounced checks means a $25 or more fee from the bank

So, the next question is - How do I write one?  Here’s the answer.

Record all deposits and checks (the accounting term is reconcile but let’s just keep it […]

Original post by MoneyNing

In about 2 weeks, I will be going on my honeymoon with my wife. We’ve decided to go to Japan, a place where I’ve always dreamed of visiting one day. Even though our itinerary is already set, many day to day activities are not finalized yet.
Should we try to be frugal in our honeymoon?
On one hand, I’m scared because we can easily spend much of our savings on only 10 days of our lives if we aren’t careful. Many of my family members suggested all these fancy restaurants in Japan that we have to go to because they are just so good. Add that onto all the admission fees, transportation and lodging costs can only mean a huge bill when we are all set and done.
On the other hand, our honeymoon is an “once in a lifetime” event and I want it to be memorable for […]

Original post by MoneyNing

Is $1,000,000 up front or 100 payments of $10,000 a month a sweeter deal? This is a question I often ponder. On one hand, a million dollars up front is in theory a better deal because it allows us to make much more money if we invest it correctly. It is also the most flexible because it gives us the maximum choice. We can always put it in an investment that pays $10,000 a month and there’s even a good chance that we will get more than 100 payments of $10,000.
On the other hand however, having $10,000 a month is so comforting. Even though we can set it up to get $10,000 a month with the big one time payment by putting it in investments, not many people truly has the discipline to do so. Just imagine whether anyone will be able to keep […]

Original post by MoneyNing

I received a few emails from readers singing the dividend investing tune and craving for more out of this blog. As much as I enjoy these praises, most of the ideas don’t originate from me. I certainly don’t live long enough to survive all the experimental mistakes and live to tell about them. Instead, I mimic dividend investors who have succeeded before me: Stephen Jarislowsky, David Dreman, Tom Connolly and bunyip. But the person who really spring boarded my endeavor into dividend investing is Scott M.(a.k.a scomac).
If you don’t know who scomac is, you owe it to yourself to dig up all the little nuggets he left behind in the Financial Webring and Canadian Business forums. In particular, scomac graciously shared this stock picking template, which I adopted and morphed numerous times over the past 2 years to suit my own investment style. His […]

Original post by Financial Jungle Guy

My grandfather being in the hospital really puts things into perspective for me.  No matter how wealthy we are, it means nothing if we aren’t healthy.  Many people, including myself, work so hard at our jobs.  We miss lunches, and sometimes sleep just to advance our career a little more.  We work late on weekdays and on weekends because we think we can make more money that way.  Although I can tell you first hand that the financial reward is there, our health definitely suffers.
Whether it’s the extra stress we put on our bodies or the lack of healthy food we consume, it takes a toll on our bodies over time.  When we are young, we don’t feel it but we are slowly and surely degrading our health.  We might end up being rich, but we are more likely to end up being sick.
By overworking, we are also likely neglecting […]

Original post by MoneyNing