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Yahoo! News reports Money does not buy happiness.

See Yahoo news here

This time old adage is true but not. Let me explain. Simply having money will not make you happy. Look at the super wealthy and you will find they suffer depression, suicide and addiction at the same rate as the rest of the general public. Money can not buy you happiness.

But when you have money you have choices and choices can make you happy. For example, when you have money you can decide which fancy restaurant to take your family to every night, versus making the choice at the grocery store if you can afford to buy meat for your family or will it be pasta again.

The number one cause of divorce is related to money, particularly not having any and bills.  Again when you have money this becomes less of an issue. Your fights will revolve around how many luxury cars you can afford, or how lavish your next vacation will be. When you don’t have money your fights tend to be about which bills won’t get paid.

In the end living a balanced life, filled with friends, family and with limited stress is as close as we can get to a recipe for a happy life.

Happy fourth of July!!!

Today we are going to fly the American flag at our house. We love our Country and want to show our pride. I saw on msn.com they had the do’s and don’ts of flying the flag. Check them out.

Here is the highlights:

“Flag Holidays
Independence Day is a flag holiday–one of 17 days specifically designated in the code on which citizens are encouraged to display the flag, if they’re not in the habit of doing so daily.
Flag holidays are as follows:

1. New Year’s Day – Jan. 1
2. Inauguration Day – Jan. 20
3. Lincoln’s Birthday – Feb. 12
4. Washington’s Birthday – third Monday in February
5. Easter Sunday – (variable)
6. Mother’s Day – second Sunday in May
7. Armed Forces Day – third Saturday in May
8. Memorial Day (half-staff until noon) – last Monday in May
9. Flag Day – June 14
10. Independence Day – July 4
11. Labor Day – first Monday in September
12. Constitution Day – Sept. 17
13. Columbus Day – second Monday in October
14. Navy Day – Oct. 27
15. Veterans Day – Nov. 11
16. Thanksgiving Day – fourth Thursday in November
17. Christmas Day – Dec. 25

The code also urges citizens to display the flag on additional days that are proclaimed by the president of the United States, on days that commemorate the date in which their state was admitted to the union and on specific state holidays.
Manner of Display

• The flag should be hoisted briskly at dawn and lowered ceremoniously at dusk. The flag should be displayed at night only if it is lighted dramatically, as from below. To fly the flag at half-staff, raise it briskly to the top of the pole, keep it there for a moment and then lower it to half-staff. Before taking the flag down for the day, return it briefly to the top of the pole.
• The flag should not be displayed on days when the weather is inclement, except when an all-weather flag is used.
• When the flag is displayed from a staff projecting horizontally or at an angle, the union (the blue rectangle on which stars are embroidered or fastened) should be at the staff’s peak, unless the flag is being flown at half-staff.
• When displayed horizontally against a wall the union should be to the left of the observer, looking from the street or in the audience. The same holds when a flag is displayed horizontally in a window. When the flag is displayed vertically against a wall, the union is also to the observer’s left. Likewise, when a flag is hung vertically in a window.
• When displayed directly over a street, the flag is hung vertically, and it is centered in the street with the union aligned with the north or east. In a north/south street, this means the flag is hung across the street with the union on the east side of the street. Conversely, on an east/west street, the union is on the north side of the street.
• For visual reference on all of this, visit the American Legion Web site (www.legion.org).
Prohibitions
• Never use the flag for advertising purposes, as drapery, linens or as clothing, or print it on items soon to be discarded–napkins and paper plates, for example. It should not be used as part of a uniform–athletic or otherwise, unless you are a member of the military, a patriotic organization, police force, fire department or rescue/ambulance squad.
• Never attach a flag directly to a vehicle or drape it over a vehicle. Instead, the flag should be attached to a staff secured to a vehicle’s chassis or to the right front fender. The flag should be displayed on floats in a similar manner. When bunting is used for patriotic display instead of a flag, the colors are arranged from top to bottom: blue, white and red.
• Never display the flag in a manner in which it is easily damaged or with it touching the ground.
• Never display the flag upside down–as this is a distress signal.
In Patriotic Observance
In unabashedly old-fashioned and refreshingly blunt language the code calls on all those present to recognize the flag when it passes as part of a holiday parade:
• Stand.
• Place your right hand over your heart. And in particular, the code says: “Men not in uniform should remove their headdress with their right hand and hold it at the left shoulder, the hand being over the heart.” Military personnel in uniform should “render the military salute.”

Flowers and Other Patriotic Facts
Suppose you were to give someone flowers, and you wanted to be patriotic about it. Which flower should you choose? The rose is designated as the National Floral Emblem. Although no color is specified in the code, our choice would be a dark red type, such as the hybrid tea rose, Mr. Lincoln.

If you were to utter our national motto, what would you say? It would be, “In God we trust.”
And if the heat weren’t too great, and you were roused to march, what tune should you march to? The National March is “Stars And Stripes Forever,” by John Philip Sousa.”

For more info check out MSN

Credit spending and auto loans up in April. The spending was the fast increase in 10 months.

MARTIN CRUTSINGER of the AP reports; “It was unclear, however, how long the rebound in borrowing would last given a decline in consumer confidence during May that was attributed to worries about soaring prices for gasoline and other energy products.”

Further with gas prices heading to all time highs and the summer months ahead, there really is little indication of what will happen. The average price of a gallon of gas reaching $3 this leaves very little left in people’s budgets.

There has been some speculations gas could reach $6 to $7 a gallon by mid summer. If so I think you will see an almost collapse in the U.S. economy.

So let’s hope everyone who bought a car in April bought a Hybrid!

So Ralph Nader does not use credit cards. Why? Is it the for the same reasons Dave Ramesy does not use credit cards? Well yes and no. I am sure they share much of the same dislike of how credit card companies treat consumers and the hook them and gouge them business model.

The Motley Fool on MSN reports Nader as saying the following: “Well, he offered several reasons. For starters, he objects to the invasion of privacy. He also reportedly believes that credit cards increase the price of the goods we buy.”

A summary of what Nader does not like.
1. Invasion of privacy
2. Increase the price of goods
3. support big banks and their unfair lending practices, particularly to the poor and people of color.

The really said thing is at the end of the MSN article the people at Motley Fool offer you a Motley Fool credit card. How cheap. See the cheapness here: http://msnbc.msn.com/id/13047491/

Two out of three college grads go into debt. They owe more than $19,000 in student loans.  So students of higher learning are already learning the bad habits of debt. I know getting an education is considered an “investment”, so don’t get me wrong I think student loans are a “necessary” debt. But it does put a huge burden on the student once they graduate. They hope they can find a good paying job to pay off the loans. The reality is most don’t.

Here is a listing of state break down provide by the AP.

California: 56.4 percent of undergraduates taking out student loans, $17,266 average total loans, $15,259 average federal loans.
Connecticut: 62.4 percent, $17,990 average total loans, $17,143 federal loans.
Delaware: 56.1 percent $16,473 total, $12,946 federal.
Georgia: 65.4 percent, $20,767 total, $18,505 federal.
Illinois: 63.2 percent, $18,788 total, $16,594 federal.
Indiana: 61.1 percent. $19,112 total, $17,566 federal.
Minnesota: 76.3 percent, $20,312 total, $16,406 federal.
Nebraska: 71.8 percent, $16,200 total, $15,373 federal.
New York: 67.2 percent, $20,838 total, $17,603 federal.
Oregon: 76.5 percent, $17,772 total, $16,641 federal.
Tennessee: 70.9 percent, $19,949 total. $17,852 federal.
Texas: 64 per cent, $18,508 total, $16,624 federal.
All states: 65.6 percent, $19,202 total, $17,022 federal.

MasterCard goes IPO

What does this mean for people who have MasterCard? MasterCard raised $2.39 billion dollars in its initial offering this week. That’s a lot of cash. To give you and idea of how big this IPO was, Google raised $1.7 Billon in its initial offering.

So what does this mean for the average guy who has a MasterCard in their wallet? Well I guess this depends on your credit record.

If you have good credit it probably means you will get more great offers.

If you have bad credit it means they are now a publicly traded company that’s all about the bottom line. Which means they will need to make sure they stem any loses they face from late payments and charge offs. So I think you will see an increase in late charge fees, more aggressive collection actions and increase in interest rates on those who have less than perfect credit. But this is just a guess on my part.

By JOE BEL BRUNO of AP The reports the funds will be used in the following way; “MasterCard is expected to use its new status as a public company to expand globally, and move into higher growth businesses within the payment industry.”

Only time will tell. So please do all you can to get your cards current and paid off.

Debt is not the problem

I found this interesting article written by Robert Kiyosaki, the author of “Rich Dad Poor Dad” in which he says debt is no the problem, it’s what you do with it.

I agree almost 100%. Here is his example. “My banker is my best partner,” my rich dad used to say. “He loans me 90 percent of the money and I control 100 percent of the property, 100 percent of the profits, and 100 percent of the tax breaks. All I have to do is find great investments he wants to be a partner in.”
Very true.

He goes on to say, “Between 1995 and 2005, savers — people who saved money in bank accounts or in mutual funds — were the big losers. They lost because the stock market crashed. Between 1995 and 2005, many of the debtors who took advantage of low interest rates to invest in real estate made fortunes in the biggest real estate boom in the history of the world.

Understanding how to use debt to increase their fortunes is another reason the rich get richer. “
Again I agree.

However, most Americans are not like Mr. Kiyosaki. He uses debt to by assets that normally appreciate. Most Americans buy things that only depreciate.

He also sites a booming time in Real Estate. What happens when you are leveraged to the hilt in hopes the real estate market will go up but it takes a nose dive? Much like it did in the 80‘s, you will be in bankruptcy court faster than you know it.

Debt can be used to obtain wealth but in my mind the faster you can pay off the debt the better.

I found this interesting article on Yahoo Finance about the confusion of Credit Card Statements. They are written to help squeeze every last drop of money out of your pocket. They have a trigger clause in there that allows them to increase rates if your credit history is poor even if your card is current and you have never been late.

I also found out that even if your payment arrives on the due date it could still be marked as late and you will be assessed a late fee. How? Well if your payment gets there late enough in the day it will not be counted until the next day. Making the payment “late”.

Linda Stern points out a couple “tricks of the trade”;

“If your credit history profile changes at all, they can view that as a signal to raise your rates. Over-limit fees. If you have a $5,000 credit limit and you use your card to buy something that costs $5,010, don’t expect the charge to be denied. Instead expect your issuer to charge you a fee of $30 or more. Maybe you think that’s worth it for the convenience.
Due times, not just dates. Many, if not most, issuers now consider a bill late if it arrives on the due date after a certain time of day — typically before the mail is delivered. Then you can get busted for being late, a situation that can jack up your rate to levels over 20 percent and add another $30 or more in fees.”

These tactics are sad, but many credit card companies use them so fight back. Pay off your Credit Cards. Cash is their kryptonite!