Alpha Consumer
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Unexpected College Costs: Readers' Edition
Continue reading… 5 CommentsAs I was collecting ideas on unexpected college costs for my recent story on the subject, I heard about a lot of hidden expenses that aren't usually advertised in universities' marketing materials: Copying machines that eat cash. Mandatory gym fees. Formalwear for occasional Saturday night events. Some ideas didn't make it into the article, and readers added their own suggestions, as well. Here are some of my favorites:
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Wedding Guests Rethink Gift Spending
Continue reading… 15 CommentsIt's wedding season, which means guests are faced with the often confusing question of how much to spend on wedding gifts. The recession has only made the issue more complicated. With guests trying to keep their own budgets under control, they sometimes feel reluctant to shell out $100 or $200 for a newlywed couple, but they also know that couple might need their financial support more than ever.
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When a Deal Isn’t Really a Deal
Continue reading… 3 CommentsToday’s guest post comes from Matt Bell, a personal finance speaker and author of two books, including Money Strategies for Tough Times
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One positive side to the recession is that there are lots of “deals” to be had. From cars to couches to cable TV subscriptions, just about everything, it seems, is on sale. But do bargains really save us money, or do they prompt us to spend more than we would otherwise? Here’s a look at the potential downside to some of the most common deals.
[See "Top 8 Money-Saving Websites."]
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Audio: Pre-Marital Money Talks
Continue reading… 4 CommentsOver the weekend, I spoke with WTOP in Washington about six money talks to have before you walk down the aisle. Hot topics include who will manage bill paying, whether to have separate or joint accounts, and long-term financial goals.
6 Money Talks to Have Before You Marry
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Credit Card Bill Already Affects Consumers
Continue reading… 7 CommentsToday's guest post comes from DR, the senior editor of two finance blogs, the Dough Roller and Credit Card Offers IQ.
On May 22, 2009, President Obama signed the Credit Card Accountability, Responsibility and Disclosure Act of 2009, otherwise known as the Credit Card Act of 2009. The White House described the law as "marking a turning point for American consumers and ending the days of unfair rate hikes and hidden fees." While the majority of the law does not go into effect until February 2010, its impact has already been felt in the credit markets. Unfortunately for consumers, the impact has not been exactly what Congress and the President had hoped for.
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The New Generation of Philanthropists
Continue reading… 4 CommentsFor a new generation of philanthropists, giving to charity isn't just about writing checks. Instead, the focus is on volunteering, socializing, and networking -- while also contributing to good causes. "Many Generation X-ers are more interested in social advocacy and engagement philanthropy," says Dwight Burlingame, associate executive director at the Center on Philanthropy at Indiana University. That means they are more likely to want to work directly with organizations instead of just donating money, he explains.
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How to Make a Micro-Loan Overseas
Continue reading… 5 CommentsDear Alpha Consumer,
I recently went on a trip to Ecuador and feel inspired to donate money to a micro-lending program in that country in order to help a small business owner there. What is the best way for me to do that? -
Stephen Baldwin: Another Celeb Debt Casualty
Continue reading… 0 CommentsStephen Baldwin, star of I'm a Celebrity, Get Me Out of Here and Celebrity Apprentice, has become the latest celebrity to fall victim to the dreaded bankruptcy curse, which affects a disproportionate number of famous people. He filed for bankruptcy earlier this week and has over $2 million in debt. (Loyal watchers may have clued in to his financial troubles when he balked at a pricey hotel bill on Celebrity Apprentice.)
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Buy a Foreclosure with a New Government Program
Continue reading… 2 CommentsToday's guest post comes from Brandon Laughridge of Mortgage Loan Place, which specializes in educating consumers on all types of mortgages with an emphasis on government loan programs.
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New Words for a New Economy
Continue reading… 2 CommentsDoes the recession have you reaching for new words? The Chicago-based ad agency Cramer-Krasselt has come up with a list of the year's top new terms, including "Econnoisser" and "Homedulgence."
Here are a few of my favorites: -
Alexandra Levit: How to Succeed at Work
Continue reading… 7 CommentsWhen workplace expert Alexandra Levit first started working in corporate America, she thought that if she worked really hard and turned in great work, then she would excel. But instead, she discovered that success had as much to do with networking and visibility as it did with output. She wrote a book to help other young professionals in her situation, They Don't Teach Corporate in College, and slowly transitioned into a career of working for herself. I recently spoke with Levit, a speaker and writer, about how 20-somethings can better navigate their career paths. Excerpts:
[For more, read: "Tim Ferriss: How to Work the Four-Hour Week."]
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Friends Start a Nonprofit to Fight Leukemia
Continue reading… 7 CommentsChildhood friends Judd Schneider, Tony MacDonald and Mike Richton, now in their early 30s, are the founders of StopLeukemia.org, a nonprofit dedicated to providing financial assistance to families affected by the disease as well as to raising awareness about the bone marrow donor registry. They also want to connect people who have been affected by leukemia, as each of them have been: Schneider's father and MacDonald's friend died from the disease and Richton's mother is a survivor.
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Is Twitter the Future of Retail?
Continue reading… 7 CommentsAs I was interviewing companies for my story on how they are using social networking sites to reach out to customers, I learned that some of them, such as the online investment firm Scottrade, dedicate an entire person to Web outreach. Amber Talbot, Scottrade's online public relations specialist, manages the companies' two Twitter accounts, two Facebook accounts, and a YouTube account. She responds to customers' questions and sometimes connects them to the customer service department. She also lets other parts of the company know what people are saying about them.
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Recent College Grad Boosts Detroit Community
Continue reading… 0 CommentsYesterday, I profiled Lindsay Hyde, founder of the nonprofit Strong Women, Strong Girls, as part of an ongoing look at why so many young people are starting their own nonprofits. For today's post, I interviewed Ian Perrotta, 24, who started the group Habitat for Hamtramck to help the ailing Detroit neighborhood after graduating from the University of Pittsburgh earlier this year. Like Hyde, Perrotta is driven by the desire to fill a niche that he doesn't see anybody else addressing. He bought five dilapidated houses for a total of around $1,400, and he plans to renovate them and then invite professionals, including a nurse, financial planner and social worker, to live in them and offer their services to the community for one day a week. "I'm trying to create more a communal society, where people help each other out," he says.
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Audio: Outsourcing Domestic Chores Now
Continue reading… 0 CommentsOver the weekend, I spoke with WTOP about why it makes sense to hire outside help for anything from cleaning to cooking to personal assistant work, even in a recession. Of course, there has to be room in your budget, but if there is, it can save you valuable time and energy.
Audio: Outsourcing Domestic Chores Now
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Why Young People are Starting Nonprofits
Continue reading… 9 CommentsWhen Lindsay Hyde was a freshman at Harvard, she wanted to become a mentor to younger girls in the area, but when she looked into potential opportunities, she couldn't find any groups willing to work with undergraduates. So she organized her own team of volunteers and found two elementary schools interested in working with them. Once she graduated from college, she officially launched her nonprofit, Strong Women, Strong Girls, which now works with over 400 girls a year in Boston, Pittsburgh, and Miami.
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7 Reasons to Donate Through a Giving Circle
Continue reading… 0 CommentsIf you want to leverage your charity dollars while simultaneously spending time with friends, then giving circles might be the answer for you. These social groups, where people jointly give money to organizations, have become increasingly popular over the last several years. According to www.givingcircles.org, there could be as many as 800 giving circles throughout the United States, compared to just half that number in 2006. They have been especially popular among women, perhaps because of the book club-like vibe.
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Are Eco-Resorts Really Green?
Continue reading… 3 CommentsAs I was reading the latest issue of one of my favorite magazines, Food & Wine, one article, called "Green Escapes," struck me as a bit odd. The magazine highlighted five luxury hotels that claim to be "green," including an eco-resort in Thailand that leads guests on rainforest treks and a lodge in Montana that serves local, organic produce and free-range meats. The specifics of what makes these resorts green wasn't detailed, but I had to wonder, how green can a vacation be if you have to fly in a jumbo jet to get there? Wouldn't it be better for the Earth just to stay home, or at least to limit your vacations to local spots?
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Credit Card Debt Declines as Some Rates Rise
Continue reading… 9 CommentsThe Federal Reserve announced further declines in consumer credit card debt yesterday -- another sign that people are clamping down on their budgets and paying off debt. It also reflects the fact that credit card companies have tightened their lending standards, making it more difficult for consumers to take on additional debt. Credit card debt decreased at an annual rate of 3.75 percent in May. Meanwhile, the personal savings rate, which measures how much of their disposable income Americans save, rose to 6.9 percent, up from 5.6 percent in April.
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The Benefit of Socially-Responsible Investing
Continue reading… 1 CommentI recently spoke with Cliff Feigenbaum, founder and publisher of the Santa Fe-based GreenMoney Journal, a newsletter on socially-responsible investing. That catch-all term generally refers to investing in companies that are environmentally-friendly or abide by other values. Tobacco, alcohol, military, and gambling companies are generally excluded. Feigenbaum explained the definition of socially-responsible investing, which he says means different things to different people, and whether it comes with a price. Excerpts:
