USAinDebt

USAinDebt is hosting the next edition of Carnival of Credit Report Stories - November 5th!

Submit your blog article to the next edition of credit report stories using our carnival submission form.

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You have probably heard the 501(c)3 expression already, and you were wondering what it is. Well, simply put, the 501(c) is a condition of the United States Internal Revenue Code, which allows incorporation of charitable, or otherwise called non-profit associations such as Labor Unions, Credit Unions, Mutual Insurance companies and Veterans’ organizations. Those companies are exempt from Federal income taxes and their main purpose is not acquiring profit, but helping the public. 501(c) organizations are prohibited from participating in various political activities.

Tags: 501(c) | credit union | mutual insurance | debt | labor union | charity | non-profit

UAE and specifically Dubai was the topic of an attention-grabbing episode of 60 Minutes on CBS yesterday. Steve Kroft was reporting the story, produced by Ira Rosen.

For the past 20 years Dubai has steadily grown as the most ambitious sheikhdom in the Middle East. Construction never stops in the fastest rising mega polis, ruled by the founder of Saudi Arabian Airlines - Sheikh Mohammed bin Rashid Al Maktoum. In a matter of fact, for the last seventeen years that airline has being mounting with the rate of 20% per year, becoming the second most profitable airline in the world. 

Mohammed’s message is clear: “We want to be number one in the world. In everything.” For the past decade he is reshaping the country’s image immensely. Free medical insurance, tax exemptions for Dubai’s natives are just some of the perks. “The government runs by a business model” Rashid Al Maktoum says. The new Dubai International Financial Centre comes directly under the chairmanship of the Dubai Crown Prince. The largest shopping malls, the most expensive hotel, the tallest building in the world are just some of the establishments that this country has to offer to its foreign investors.

Dubai doesn’t just undergo a small economical transformation. Twenty-five thousand foreign immigrants join its populace each month. Americans, eastern Europeans, Asians are what more than a half of the population in Dubai is nowadays. Microsoft, IBM, Merck, Bosch are just some of the companies that have recently opened up new facilities offering thousands of jobs. New laws and rules are constantly added to improve the quality of the society.

Sheikh Mohammed bin Rashid Al Maktoum’s “vision 2010″ plans for the future are vastly turning into a reality. The economic boom in Dubai is surely to attract more and more businesses, settlers and funds. Is Dubai the next top immigrant destination?

Tags: dubai | uae | petrol | mohammed | sheikh | 60 minutes

Here we have 40(!) great  articles on everything Finance. Welcome to the Blog Carnival of Twentysomething Finances! Thanks to everybody who participated!

Steve Faber presents - How to Avoid Foreclosure posted at DebtBlog.

ChristianPF presents How to budget with ING direct posted at Money in the Bible | Christian Personal Finance Blog, saying, “ING Direct is my secret budgeting tool. Here are a few steps to start budgeting using ING Direct.”

Silicon Valley Blogger presents Stop Overspending Now! 14 Ways To Conquer Binge Buying posted at The Digerati Life.

Sara Goldstein presents How to choose better-quality clothes posted at The Bargain Queen on Fashion and Beauty, saying, “On limited collage finances, it’s essential to stretch your clothing budget as far as possible — and that means buying things that won’t fall apart after the first wear. Here’s how to pick better-quality clothes.”

Michael Cohen presents Why You Shouldn?t Buy Classmates Stock posted at Classmates.com Sucks.

KCLau presents Should you focus on Increasing income or reducing expenses? posted at KCLau’s Money Tips, saying, “Cash flow chart involves simple mathematic calculation: Saving = Income - Expenses. Savings is the priority since it appears first in the equation. To increase saving, we can either increase income, reduce expenses, or doing both at the same time. Which option requires your most attention?”

Frugal Panda presents Fly or Drive: Which is Cheaper? (A Definitive Answer, Once and For All) posted at Frugal Panda.

Ryan Russell presents Is Debt Consolidation A Good Idea? posted at Care on Credit, saying, “Debt consolidation comes in several forms, including credit counseling, balance transfers, and debt consolidation loans, so review your options carefully before making a decision.”

Joy Miller presents 10 Online colleges offering credit for life experience posted at Online College Blog, saying, “Several reputable, regionally-accredited colleges and universities allow you to earn credit for life experience.”

Sagar Satapathy presents The Amero: An Introduction, A Short History, and What it Would Mean for Our Economy | Currency Trading.net posted at Currency Trading.net.

Roshawn Watson presents Do Your Friends Keep You Broke? posted at Watson Inc, saying, “I was shocked to learn that your income will often mirror that of your five closest friends. I had to ask myself who is in my inner circle. Learn from billionaire J Paul Getty. He said that if he were down to his last five dollars, you wouldn’t find him in some cheap restaurant trying to eat all he could. He would rather be in a nice hotel lobby drinking coffee with visionaries and leaders. His rationale was that the people he wanted to be a part of his future were at the hotel not the restaurant. Believe him.”

Matthew Paulson presents Be on the Lookout: Con Artists Stealing Guardianship of Senior Parents posted at Getting Green.

Larry Russell presents Understand the confusing securities market motion picture posted at THE SKILLED INVESTOR Blog, saying, “Securities markets are usually very quick to adjust prices to reflect new information. However, this price adjustment process may take longer and be more volatile, if the new information is ambiguous.”

Juan Millon (1mil) presents Creating My Own Website: Step 3 Registering A Domain Name posted at Millionster.com.

Sam presents How to Save on a Home Mortgage Loan, Mortgage Refinancing, Second Mortgage Loan. posted at Surfer Sam and Friends, saying, “How to Save Money on a Home Mortgage Loan All Interest Rate Quotes Are Not Alike Don’t Let Closing Costs Scalp You”

Roshawn Watson presents Two Financial Questions You SHOULD Ask Your Friends posted at Watson Inc, saying, “Strife over money has severed many good relationships. When it comes to discussing finances, avoidance is understandably our medicine of choice, especially when friends are involved. However, perhaps avoidance is not the best strategy”

Mike Lazear presents The Great Office Escape posted at The Great Office Escape, saying, “A great way to save in your 20s is to resist the temptation of car ownership! Reap the benefits by seeing your savings rise and experience some other bonuses along the way to being car-free.”

John Crenshaw presents Pay Off Mortgage, Lose Tax Deduction? posted at Truthful Lending dot Com, saying, “The home ownership tax deduction is one of the most commonly misunderstood aspects of home ownership. Find out why it’s ok to lose that deduction when you pay off your home.”

The Free Geek presents Broke? Alcoholic? How to Drink on a Dime: 10 Surefire Tips posted at Free Geekery.

Dax Desai presents 4 China Stock Picks posted at Dax Desai, saying, “4 Great Chinese Stock Picks & 1 Day Trading Pick”

the baglady presents Early Retirement May Not be Optional for Twentysomethings posted at xynny.

FIRE Getters presents Live Rent Free and Earn as a Caretaker posted at FIRE Finance.

Logan Flatt, CFA presents How to Get Ahead In America (2nd of a 12-Part Series) posted at PowerWealth.com, saying, “If there is one refusal that has been central to my financial success in America, I would say this is it.”

ChristianPF presents Do I need an Emergency Fund? posted at Money in the Bible | Christian Personal Finance Blog, saying, “How an emergency fund can make or break you financially.”

Super Saver presents Time To Plan for 2007 IRA Contributions posted at My Wealth Builder.

Dianne M. Buxton presents Global Impact Charity Engages With a Broader Vision posted at manifestingsuccess, saying, “How early do you want to start? Now? Get wealthy, help others and join the system that is going to do it. No cost to you or anyone you refer.”

Shawn Edwards presents Video — 5 Simple Steps to Get Your Finances Under Control | Desty Online — Online and Offline Businesses posted at Desty Online.

KCLau presents Build your Financial Dream House with a Financial Consultant posted at KCLau’s Money Tips, saying, “Architects design and build real houses. Similarly, financial planners design and build your financial house.”

Mr Credit Card presents Overstock.com Credit Card | Overstock Credit Card Review posted at Ask Mr Credit Card’s Blog.

Jason Elder presents Personal Loans With Bankruptcy posted at A Bankruptcy Lawyer’s Blog, saying, “Here I discuss a few things you may not know when dismissing personal loans in your bankruptcy”

James presents Payday Loan Tips and Tricks posted at Payday Loan Cheapskate.

Shelby Crutchley presents Appliance Insurance - Security, or a Rip Off? posted at Island Girl’s Money, saying, “This entry is about the benefits vs. cost of over-insuring yourself for certain things, like appliances.”

Jimmy Atkinson presents 25 Ways to Earn More and Work Less posted at Ask the Advisor.

Michael@TSM presents Fall TSM Travel Writing Contest: Win $125! posted at Traveling Stories Magazine.

Aaron Wakling presents Credit Checks - What They Are And What You Need To Know posted at The Credit & Credit Card Blog, saying, “Credit checks involve sensitive personal data. Therefore, many people are concerned about precisely who they’ve entrusted with their records. Fortunately, the Fair Credit Reporting Act has established unambiguous rules governing credit checks.”

Millionster presents How Rich Dad Changed My Thoughts About Money posted at Millionster.com, saying, “I was first introduced to Robert Kiyosaki’s books by a good friend of mine — a CEO from Las Vegas. His parents were both business owners so he pretty much had a good head start in his financial education — suffice it to say I took his recommendations in full confidence.”

poetloverrebelspy presents Comparing Foreign Websites for Deals posted at Less Than a Shoestring, saying, “Wasn’t sure if the above post or this one http://nobudgettravel.wordpress.com/2007/10/11/baring-my-budget-london/ would be more your speed. I write about thrifty travel options.”

Michael Bass presents Escaping credit card debt without filing bankruptcy. posted at Debt Prison, saying, “Escape credit card debt without filing bankruptcy or debt settlement.”

Wenchypoo presents Holiday Dinner Rip-offs posted at Wisdom From Wenchypoo’s Mental Wastebasket.

Silicon Valley Blogger presents How Much Credit Have You Turned Down? Maybe Half A Million Dollars Worth posted at The Digerati Life, saying, “Thanks!”

That concludes this edition. Submit your blog article to the next edition of twenty something finances using our carnival submission form. Past posts and future hosts can be found on our blog carnival index page.

Tags: credit | debt | insurance | investment | retirement | savings | blog carnival

Individuals often fall into situations when they need cash fast but have no way of getting it. Credit is not an option, since your score numbers are really low. So here are a couple of alternative ways to raise some cash quickly.

Seek help from family and friends. This is the first thing on your To-do list. Talk to your parents / offsprings and other relatives. Call your best friends and ask them to lend you some money. Don’t take money from your colleagues. Make sure that you pay those loans on time. You won’t be charged interest if you don’t but you will never get a loan from them again.

Sell your old stuff. And the new stuff also.Look around and see what you can get rid of. You can easily sell electronics and furniture on Craigslist. If you don’t have anything old to sell, price your new belongings. You can always get another TV, DVD, stereo when you are in a better financial shape. Sell your books, CD’s & DVD’s, video and computer games. You can pretty much sell everything that you can live without, just post it and then post it again and again. You will be surprised what people are looking for.

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I was just complaining about Citibank’s bad customer service a couple of days ago. Yesterday I have noticed that they have bumped up my interest on one of my cards to 32.32%! I called to see what happened and they said that I was late on a payment back in August and that’s when the APR went up. So I argued a bit and then asked to speak with a supervisor. She deserves to have her name mentioned here - Jennie lowered my APR to initially 17.4%, then, without me even asking her for a lower one, she lowered it to 10.4% and then once again, before I could say “Thanks” she said that she will give me a 0% APR for 4 months and 10.4% thereafter. I just couldn’t believe I felt like it was my birthday!

Tags: citibank | apr | charges | reversal | supervisor

$1.59 was the price per gallon of gasoline back in 1970s. This year however, this precious liquid approached and quickly surpassed the $3 per-gal mark.

What causes gasoline prices to soar? There are multiple reasons for that. Typically, rising costs are common for the summer, because a lot of people are going on vacation and more driving is involved. Holidays, such as Thanksgiving are also a precondition for a higher demand and respectively higher price. Major disasters, such as hurricanes can also be “helpful” (for example, when hurricane Katrina hit, refineries went out of order, causing a spike in prices due to higher demand and lower supply). The cost of crude oil, refinery processing costs, marketing and distribution costs, and taxes are directly reflecting on what the consumers pay at the pump. Some states such as California and Chicago require clean-burning fuel which can only be supplied from certain refineries, once again resulting in elevated prices.

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Since 2004 when Citibank acquired the Indian company e-Serve International, which provides call-centre, transaction-processing and data-management services their customer service has gone from bad to worse. Whenever I call the 1800 customer service number I get to speak with an incompetent agent, who doesn’t even speak proper English. I have to repeat myself and explain over and over again numerous times. My solution to the problem: “Can I speak with a supervisor please?” At least they haven’t outsourced the supervisors team yet…

Tags: citibank | customer service | outsourcing | india

As many as 1.6 million scout badges have been recalled after testing revealed high levels of lead in the paint. Sports Authority recalled about 12,000 aluminum water bottles due to violation of lead paint standard. 20,000 Razor E300 scooters are recalled because their handlebars can detach causing loss of control. Injuries were reported already. 150,000 Antioch Publishing bookmarks & journals are pulled because of high lead paint levels. Dollar General Merchandising Inc. is recalling 192,000 toxic keychains, again because of a high level of lead. Eveready Battery Co. recalls 79,000 toy flashlights due to violation of lead paint standard.

These are recalls, posted at U.S. Consumer Product Safety Commission’s website for the last week. It is unknown how many more unsafe products are out there…

Tags: china | recalls | high level of lead | scout badge

I happened to have some friends with their kids currently in high school, and I frequently notice how often those kids fail to recognise the importance of personal finance handling. They seem to be well educated on the latest PlayStation games and have the hundreds of spare hours to post on MySpace. But when it comes to money, all they know is that money come from their parents and that’s about it. And while some still argue that “money is not everything” money definitely are what’s moving the world. The next generation spends 4 years in school preparing for their college and making plans on their future. They learn a bit of just about anything, but why are finances not included? Many of them begin working prior to going to college and. they still don’t know the value of money at that point. To me, basic finance should be included  in the core curriculum just like basic computer skills are. As an immigrant from a foreign country, I learned finances the hard way. It costed me a lot of time and money which youngsters can save, if they are taught properly on how to spend wisely. Why learn the hard way?