Tuesday’s need-to-know money news

Credit card backgroundHow to avoid wrecking your credit, using your credit card to support your pet causes, and the most underrated jobs in America.

5 Habits That Can Wreck Your Credit
Complacency is a credit killer.

5 Tips to Help 50-Somethings Make Ends Meet
These tips can also help ease the transition into retirement.

How to Pick a Socially Responsible Credit Card
How your credit card can benefit the causes you support.

3 Ways to Make Your References Most Effective
Getting the most from your former employers.

What are the most underrated jobs?
What do a librarian, EMT and accountant have in common?

Monday’s need-to-know money news

Chevy VoltSaving for the holidays, how to manage your finances while having ADHD, and how letting Big Brother ride shotgun could save you money on car insurance.

Why You Need to Save Now for Christmas
Yes, it’s only September. No, that’s not too early.

5 Years After Financial Crisis: Meet the New Consumer
The financial crisis of 2008 changed the way we shop and spend.

Budgeting After College
Even though you can finally afford more than ramen noodles, post-college life still requires budgeting.

Managing your finances when you have ADHD
Having ADHD can make managing your finances difficult, but there are strategies for making it easier.

Should You Let Your Car Insurance Company Spy On You?
Having Big Brother in the car could reduce your insurance rates.

Something to be proud of

As you may know by now, I won’t be writing for MSN after Sept. 30, when the site pulls the plug on original content. (Translated: instead of paying writers, MSN will be getting its articles for free from other sites.)

I don’t know what’s next, but I’m kind of excited by the possibilities that are presenting themselves. Expanding this site, doing more on the radio, writing for long-admired outlets that are doing great work, delving deeper into the worlds of sustainability, alternate consumerism and zero waste….mmmmm. Tasty, tasty possibilities.

I feel incredibly grateful that our family is in good financial shape (although as one friend said, “If YOU aren’t in a good position to handle this, what hope do the REST of us have?”). Hubby is gainfully employed and his sideline business is taking off. We have a fat emergency fund. We’ve had to cancel the remodel of our 1980s kitchen (stifled sob), but honestly, everything works and looks fine and I’m embarrassed I even care, given what so many families are up against these days.

Before I can move on to other things, though, I have to finish my last columns for MSN. A friend and I were laughing about how ridiculously hard it is to make yourself sit down and write when you know it doesn’t matter.

I’m having a flashback to the last time I was laid off, which was more than 20 years ago. Our leaders at the Anchorage Times informed us in an early-afternoon meeting that the last press run would be that night, and that venerable paper would be no more.

Everybody else filed their last stories and headed off for the bar. But my beat was the city, and there was a city council meeting that night (up there it’s known as the “municipal assembly”). So while my colleagues and friends were drowning their sorrows, I had to try to pay attention to this motion and that notice. As the meeting dragged on, I got more and more sullen, desperate for it to just end already so I could join my shell-shocked buddies at the bar.

Then Mark Begich, who was the youngest Assembly member at the time (and who’s now a U.S. Senator), brought up the news that the Times was closing. I half expected him to lead a cheer, as he was a pretty progressive lawmaker and the Times’ editorial stance was decidedly conservative. Instead, he asked the chamber to join him in a round of applause–for me. I forget exactly what he said, but I remember it was flattering, and had something to do with being fair and maintaining high standards. The whole Assembly, which included a few members who were not always happy with my nosy (and sometimes stupid) questions, joined in.

I filed my story. I tried to make it as good as I could. The editors and copyeditors and pressmen who also had to stay late did their jobs as well as they could, too. Everyone who was at the bar streamed back to watch that final press run, and thought about how, for a while there, we’d created something to be proud of. Then we scattered into the night and into the rest of our lives.

So please watch for my last couple of MSN columns. I’ll make them as good as I can. The editors and copy editors who are still there will do their jobs as well as they can, too. For a while, we created something to be proud of. And now we’ll scatter into what’s next.

Friday’s need-to-know money news

CollegeWhy Generation X needs to accept the inevitable, coping with a layoff, and how the key to financial prosperity could be inside a funeral home.

Survey: Gen X seriously short on life insurance
Note to Gen Xers: You’re not getting any younger.

3 Ways You May Be Throwing Money Away Without Realizing It
Hands off that retirement account.

What to Do if You Just Got Laid Off
What you need to do once the panic subsides.

4 Tips to Help 30-Somethings Save for a Rainy Day
In every life, a little rain must fall.

10 Unusual Jobs That Pay Surprisingly Well
What cruise ship entertainers, hot dog vendors, and morticians have in common.

Thursday’s need-to-know money news

School Kids DiversityWhy joint accounts aren’t always a good thing, how to raise financially savvy kids, and the psychology behind overspending.

4 Ways Joint Accounts Can Ruin Your Credit
Sharing isn’t always a good thing.

7 Personal Finance Tools Every Kid Should Have
Starting your kids off on the right financial foot.

ABCs of Obamacare: a glossary for consumers
Become familiar with the Affordable Care Act.

How to Know You’re Ready for Retirement
Preparing for one of life’s biggest transitions.

3 Reasons You Overspend
What makes us spend the way that we do?

Wednesday’s need-to-know money news

creditWhich debts you should settle before applying for a mortgage, what to glean from your free credit report, and why crowdfunding is no longer just for opening a new coffee shop.

The Right Way to Pay Off Debt to Get a Mortgage
Which debts you should pay off before trying to get a mortgage.

The Ten Commandments of Personal Finance
Ways to avoid financial confession.

4 things you don’t know about 529 plans
What you should know before withdrawing funds from the popular college savings program.

5 lessons from free credit score notices
Things to keep in mind while reviewing your free credit reports.

Crowdfunding for Student Loan Debt?
Could the Kickstarter method be used to paid down student loans?

Tuesday’s need-to-know money news

Credit card backgroundSurviving unemployment, the pros and cons of taking a personal loan to pay off credit card debt, and where your state ranks on the list of America’s most debt-free.

How to survive a job loss
Tips on how to get through one of life’s most difficult times.

Use Personal Loan to Cut Credit Card Debt?
Is trading one debt for another a smart idea?

4 signs of financial immaturity in teens
Could your teen already be on the road to financial ruin?

6 Financial Mistakes We Don’t Make Anymore (and 2 We Still Do)
What financial mistakes are we still making in the “new normal”?

The Most Debt-Free States in America
This list may surprise you.

Monday’s need-to-know money news

Dollar mazeBecoming financially savvy at a young age, how to make your money last through your retirement, and how being a football fan penalizes your wallet.

Personal Finance Tips for Young Adults
The earlier you become financially savvy, the better the payoff.

Making your money last through retirement
Tips on how to stretch your savings over the course of your retirement.

Freeze Your Assets: How to Force Yourself to Stop Overspending
By “freeze your assets”, we’re talking literally freezing.

5 ways credit scores impact retirement
Being retired doesn’t mean you should ignore your credit score.

The high cost of being a football fan
Watching your favorite team can take a big hit on your wallet.

Friday’s need-to-know money news

My first carBusting credit myths, credit goals for 20-somethings, and the evolving list of what your home insurance will and won’t cover.

6 Credit Myths That Can Wreck Your Finances
It’s time to bust some credit myths.

10 Amazing Pieces Of Financial Advice Stuffed Into 1 Cheat Sheet
Everything you need on a simple index card.

5 Critical Financial Goals for 20-Somethings (Hint: One Goal Makes You ‘Poorer’)
With adulthood comes great financial responsibility.

5 Bad Habits of New Car Owners That Ruin a Vehicle’s Value
You’ve got to treat your new baby right.

6 Things Home Insurance Won’t Cover
Sharknado, yes. Mold, no.

Why you still feel like you’re in a recession

Money squeezeI’ve been through several recessions now, and they all had at least one thing in common: people complained that the economists who declared an official end to the downturn were out of touch, because it didn’t feel like the recession was over.

Recoveries take a while to spread through the economy, which means people experience the expansion at different times…and some never feel it at all, because they or their geographic areas are permanently left behind.

In the case of the Great Recession, though, there are pretty good reasons why you may feel like it never ended:

  • For one thing, median household income in the U.S. in real terms (adjusted for inflation) is nearly 9% less than it was in 1999, according to the Census Bureau.
  • The unemployment rate (now 7.4%) has been declining, but is still well above 2007 rate of 4.7%.
  • The unemployment rate doesn’t capture discouraged workers (those who have given up looking for work) and those who are working less than they’d prefer. In fact, the number of full-time workers as a percentage of the population is down sharply from pre-recession levels.

I could go on, but economists who have dug into the numbers make it clear that most of the growth in recent years has accrued to those at the top. Earlier this year, the New York Times featured research by Emmanuel Saez, an economist at the University of California, Berkeley, that tracked incomes between 2009 and 2011:

“…there was a wide gap between the top 1 percent, whose earnings rose by 11.2 percent, and the other 99 percent, whose earnings declined by 0.4 percent.

Mr. Saez, a winner of the John Bates Clark Medal, an economic laurel considered second only to the Nobel, concluded that ‘the Great Recession has only depressed top income shares temporarily and will not undo any of the dramatic increase in top income shares that has taken place since the 1970s.’

The disparity between top earners and everybody else can be attributed, in part, to differences in how the two groups make their money. The wealthy have benefited from a four-year boom in the stock market, while high rates of unemployment have continued to hold down the income of wage earners.”

The takeaway here (besides the fact that it’s nice to be rich) is that it’s not just your imagination: the recovery has not spread very far into the economy.