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Entry bubble Banking Safely in Troubling Times

By: Jim | October 08, 2008 | Category: Money

Bank On October 3, the President signed into law the Emergency Economic Stabilization Act of 2008. Commonly referred to as the bailout, feedback on Colleen's recent bailout comments indicate that some call it other things. Whether you were for or against the legislation, there are a few details in it to be aware of.

For example, it includes a provision temporarily raising the cap on federally insured deposits from $100,000 to $250,000. This provision will expire at the end of 2009. It's important to remember that there is no indication that the provision will be extended or become a permanent change. This applies both to banks insured by the FDIC and to credit unions insured by the National Credit Union Administration.

Your money is safe if you're using a financial institution insured by the FDIC or NCUA. But I admit that the recent headlines about bank closures made me curious about my bank's soundness and what I'd go through if my bank failed. Although the FDIC never releases its ratings on the safety and soundness of banks and thrift institutions to the public, it does provide information on private companies that provide their own ratings of bank safety, often for a fee. FDIC's information on when a bank fails helped me get an idea of what to expect if that happened.

If you're looking for a new bank or credit union, the Consumer Action website has some helpful tips. Check out MyMoney.gov's Saving and Investing page to learn more about banking, interest rates, how to complain about a financial institution, and more.

Have you experienced the closure of your bank or credit union by the FDIC or NCUA?

| Post a Comment | View Comments [4] | envelope E-mail This Entry | Tags: bank   colleen   credit_union   fdic   jim   money   ncua   saving  

 

Entry bubble Museums and Halls of Fame

By: Jim | September 29, 2008 | Category: Travel

Museum at nightA recent weekend away got me thinking about some of the historic and artistic destinations in the DC area that I’ve not yet seen. A lot of them free at that! Why is it that so many of us who live in cities with a variety of attractions rarely take advantage of them? For example, I have yet to finish touring all of the museums of the Smithsonian Institution or go to one of its Folklife Festivals.

If you're like me, you probably have the usual excuses, like being too busy or wanting to wait until you have houseguests. Others of us may have children and think the kids may not enjoy a trip the local museum. Not to fear! Museums and Learning has tips on how to prepare for and enjoy a trip to the museum with your kids. If you think you're not ready for a trip to the Museum of Modern Art with the kids, then maybe a visit to a children's museum is in order.

For something a little unusual, try a hall of fame. Back home in Northeastern Ohio there are such diverse venues as the Rock and Roll Hall of Fame and Museum in Cleveland, the Pro Football Hall of Fame in Canton, and the National Inventors Hall of Fame in Akron. If you or your kids have a particular interest or hobby, do a quick search using your hobby with the term "hall of fame" or "museum" and see what you come up with, like the Salt and Pepper Shaker Museum in Gatlinburg, TN. Another way to find about interesting cultural opportunities is to go to your town's chamber of commerce or department of tourism. Check out USA.gov's history, arts, and culture page page for more ideas, too.

Does your home town have an unusual attraction?

| View Comments [6] | envelope E-mail This Entry | Tags: art   children   culture   hall_of_fame   hobby   jim   kids   museum   travel  

 

Entry bubble Adults Going Back to College

By: Jim | August 08, 2008 | Category: General

I just got back from attending the American Council on Consumer Interests annual conference. ACCI’s membership consists chiefly of academics and other professionals involved in consumer and family economics. It was good to catch up with colleagues and engage in lively discussions with the professors, but now I've started daydreaming about going back to college.woman in classroom

It’s been nearly 20 years since I graduated from San Diego State. Back then, my only selection criterion was affordability. Now, adults wishing to go to college or a trade/vocational school have more options to consider. For example, the online university concept appeals to many, especially those with busy lives. Me? Having done some distance learning in the past, I prefer the classroom setting.

No matter whether you choose to go back to school online or in the classroom setting, the school’s accreditation is an important factor these days. Your ability to receive federal financial aid to pay for your education can be affected by your school’s accreditation. In addition, many employers in the U.S. only recognize degrees earned from institutions accredited by an agency recognized by the Secretary of Education.

But determining if your potential school’s accreditation is appropriate and legitimate can be downright complicated. Accreditation standards can vary by state, by employer, by occupation, and sometimes within disciplines. Also, just because a school claims to be accredited, the accreditation and the accrediting organization could be bogus, and the school is simply a diploma mill.

The Department of Education offers a searchable database of postsecondary educational institutions and programs accredited by an accrediting agency or state approval agency recognized by the U.S. Secretary of Education to help you find out your potential school’s accreditation status. The Council for Higher Education Accreditation also offers a similar tool and other helpful information on accreditation.

Well, I think that’s enough about accreditation and postsecondary education choices. Readers, what else should you consider if going back to school appeals to you, too?

| View Comments [5] | envelope E-mail This Entry | Tags: adult   adult_education   college   financial_aid   jim   online_university   university  

 

Entry bubble Time for a Physical

By: Jim | July 07, 2008 | Category: Health

Doctor and Patient

Why is it so many us take better care of our cars than our own bodies? My birthday is  coming up, which got me thinking that I'm long overdue for a physical, at least according to the NIH's guidelines. I realize that part of the reason I've been putting off a visit to the doctor is because I'm convinced he's going to tell me to make some lifestyle changes. Another part of it is my denial about my cancer risk. Considering my family history, I can't continue to ignore my risk any longer.

Determined to face my fear of Dr. Goldfinger and the dreaded DRE, I've started researching men's health-related information on USA.gov to get ready for my visit. A search of "men's health" came up with quite a bit of information, some a little surprising. For example, a quarter of men older than 50 will break a bone due to osteoporosis. I also found an easy to use checklist that outlines some of the screening tests folks should get when they get a physical.

As the owner of a bathroom scale that gets used once in a blue moon, a not so surprising fact surfaced when I used the body mass indicator on the CDC's website. It revealed that I'm nearing the obese range. Obesity is another risk factor for cancer and contributes to other health issues.

I realize that I can't necessarily control whatever potential genetic predisposition I may have for getting cancer. However, I can do something about my weight and my diet. As a guy who can be labeled borderline lazy, does anybody out there have any tips on how I can work some physical activity into my routine, without having to sign up for a gym membership which I probably wouldn't use?

| View Comments [4] | envelope E-mail This Entry | Tags: cancer   health   jim   obesity   physical  

 

Entry bubble Late Credit Card Payment Lament

By: Jim | May 28, 2008 | Category: Money

Ever have a problem with a credit card? I just did. When I got my most recent statement, it showed that the previous month’s payment was late -- by one day! Unfortunately, I misplaced the bill in the mess I call a desk and got my payment in the mail a little late. Even though it was my fault my payment was late, I was still a bit ticked that the company charged me a late fee and had half a mind to cancel the card. Geez, I’ve paid off my balance in full and on time for nearly 20 years. Couldn’t they cut me just a little slack!?

angry manAfter I was done being mad at myself for being late, I realized that canceling the card wouldn’t be good for my credit history in the long run. The longer you hold on to your credit cards and make payments on time, the better. The point being, you want to develop a history of showing that you pay your bills on time. This shows lenders that you are a responsible borrower and a good credit risk. Which means you can get better interest rates on credit cards and loans. Many people erroneously think that it helps improve their credit scores if they cancel cards they’ve had for a long time and don’t use much or need, this is not the case. Check out consumeraction.gov for more tips on how to manage your credit.

The late payment probably is a minor negative mark for my overall history, but I’ll worry about it all the same. Of course, I’ll be visiting the Federal Trade Commission’s annualcreditreport.com web site soon to get my free credit reports from the three credit reporting agencies. I’m hoping (probably in vain) that my report won’t get dinged.

There are a few other things I need to do while I’m at it. Like clean up my desk, so my bills don’t get misplaced. Better yet, I should just set up my accounts to that they can be paid by electronic funds transfer. Has anybody else out there had a problem with a credit card?

| View Comments [15] | envelope E-mail This Entry | Tags: charge   credit   jim   late   loan   money  

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