The future is looking like a mixed bag. Consumer optimism about the economic future has rebounded seven points since August, with 48% of Americans expecting local business conditions to improve over the next 12 months. However, just 26% of consumers believe the economic downturn has reached its bottom while 69% of Americans believe we have not yet hit bottom. Meanwhile, 59% of consumers believe America can regain its status as a global economic leader and 20% believe America has permanently lost its place as an economic leader. On the other hand, according to Citibank research, 22% of Americans rate their local economy as good while 77% rate their local business conditions as either only fair or poor, nearly identical to levels in January and August.
Additionally, 19% are coming up short on monthly income, 39% are just getting by and 40% are making enough to save, while 63% say it is very or extremely important that the United States be the world’s economic leader, although just 16% currently view it as such, 59% believe America has lost this status but can regain it in the future and 69% believe it is very or extremely important to be the world leader in technology and innovation.
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Consumer Optimism, Optimism
Will the Unbanked Ever Become Bankable? With the rise of pre-paid debit cards, payday loans and pawn shops, we learn more about a large segment of the population that lurks in the shadows of the financial system in 
our country called the “unbanked.” These are people from a variety of backgrounds and for any number of reasons simply don’t show up on the radar of the banking system or they have been denied access to checking and savings accounts.
They somehow manage to conduct their financial transactions using alternative “financial services” such as check-cashing services and non-bank money orders in the banking underground. Who exactl
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Become Bankable, Ever Become, Ever Become Bankable, Unbanked
The latest Western Union Money Mindset Index finds that now, more than ever before, consumers want control of their budgets. They are using a variety of bill payment strategies as a means to accomplish this; from prioritizing which bills get paid first to adopting walk-in/urgent payment, web and social media payment channels.
Survey Findings
37 percent of consumers are prioritizing which bills get paid first.
33 percent of consumers are only making the minimum payment on bills.
20 percent are paying “more” bills after the due date.
13 percent have defaulted on one or more bills.
12 percent are using “same day payment” options more often. Rent, mortgage, primary credit card and tuition are most likely paid via “same day payment.”
Gen Y, ages 18 to 34, is more likely to pay bills using “same day payment” than the average consumer. 44 percent repo
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Bill, Bill Paying
Dear Eva,
I’m getting married in a few months, and I’m confused about what happens to our credit after we’re married. If we keep separate credit cards, then everything else would stay separate, too, right? But what if we want to buy a car or a house? My fiance doesn’t have the best credit, but I have great credit. Would I have to sign the loan myself to get a good rate? Kim
Hi Kim,
Congrats on your upcoming wedding. What an exciting time for you!
And congrats also on looking ahead. The fact that you are already planning ahead and considering how your fiance’s credit could impact the two of you is a good sign that you have the kind of proactive attitude needed to build a solid financial future.
Youre absolutely right that, as long as you keep separate credit cards, your credit histories and credit reports will stay separate. In theory, your spouse’s credit might improve if you were to add him as an authorized user on one of your credit cards. This is a practice called piggybacking. If someone
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Credit, Credit Buying
There’s a new dance in town, one that’s earning a few crafty frequent fliers more bonus miles than they can handle. It’s called “churning” in reference to the process of making butter, and though it takes some time to memorize the steps, once you know the routine you can reap thousands of sweet, morally ambiguous bonus miles for absolutely free. Here’s how to do it.
1) Pick a partner. Like any dance, churning always works better with a partner. You can still do it by yourself, but teaming up with your spouse or significant other will double your total earnings and allow both of you to fly together.
2) Make sure your credit ratings are high. When you start churning credit cards, you are going to be putting a LOT of little dings onto your credit score. Because you will
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Churning
The regulations governing student credit cards are essential for any young adult and parent to know. These laws protect teens and young adults from building up too much debt at too young an age. These restrictions also keep credit card companies from using deceptive methods on unsuspecting teens.
In 2009, the Credit Card Accountability, Responsibility and Disclosure Act -commonly known as the CARD Act- went into law. This federal regulation helps to limit the availability of credit to young adults, specifically as a way to help prevent students from accumulating significant amounts of debt. The law affects all people under the age of 21. In addition, the law helps to prevent lenders from using deceptive methods to lure in young credit card users with credit products that typically offer high interest rates, penalties and fees.
Age of the Borrower
This law prevents those who are under the age of 21 from easily obtaining credit. In order to do so, the borrower must meet one or both of the following requirements.
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Cards, Credit Cards, Student Credit, Student Credit Cards