I felt compelled this week to break away from my normal self-help format of this blog to comment on the Bernard Madoff case. After admitting he was running a multi-billion-dollar Ponzi scheme in December of 2008, Madoff enjoyed several months of freedom after posting bail. Bernard Madoff plead guilty to a number of felonies and the estimate of losses from his scam are as high as $63 billion. Some of you may ask what this has to do with you, or why any of us that did not lose money should really care about this case. I am not a... Read more →

One of the big questions that comes into our website on a daily basis is about the issue of how to protect credit card numbers and other financial information when conducting online transactions. It seems that people are in one of two camps. Either they have very little or no concern about protecting their financial information, or they seem to operate with an irrational paranoia and refuse to do any transactions over the Internet. I do think there is reason to be concerned about protecting our financial information while engaging in Internet-based transactions. I also believe, however, that it is... Read more →

The new “Cash For Clunkers” legislation should become law within just a matter of days. The idea is to provide people with a financial incentive to trade in their old, gas guzzling model, and purchase a new more fuel efficient vehicle. As with any of these government programs, the devil is always in the details. Today, I want to address what this program is and how you can find out if you qualify for a voucher. Although the “Cash For Clunkers” program is not officially law yet, chances are it will be very soon. Even if this new law passes... Read more →

I found it interesting this week to read a report suggesting that more than 60 percent of the bankruptcies this past year were related to medical bills. If you have never been caught in this situation, you probably have heard a story from a friend or relative that had an unexpected medical situation that left them with a five or six figure bill. Whether it is being caught between jobs without medical insurance, or being confronted with the need for a treatment that is not covered by your policy, this is the toughest of spots to be in. According to... Read more →

It has been fascinating to watch the implosion of the mortgage marketplace over the last five years. What has been even more interesting is how the industry and the government has dealt with the mortgage meltdown. We have heard the announcement of countless mortgage modification programs, most of which have turned out to be far too confusing and restrictive and helped just a small percentage of troubled homeowners. With the banking industry in its worst position since the Great Depression, the process of obtaining a loan modification is becoming much easier in recent months. There are also new government financial... Read more →