ManagingMoney.com Money Blog

Homebuilder Confidence Hits Record Low

Thu, 20 Nov 2008 05:57:16 -0800

The National Association of Homebuilders released their survey asking homebuilders for their level of confidence in a near term recovery of the housing market. As you might imagine, the results were not good. In fact, the survey which has been conducted regularly since 1985 reflected the lowest level of confidence that it has ever recorded. During the most recent quarter, the Associated Press reports, fully 40% of all homes sold were bank sales of foreclosed properties. This contributed to a 9% decline in the median price of all homes sold during the period.

Your Next Vehicle: Purchase or Lease

Wed, 19 Nov 2008 06:00:06 -0800

If you're in the market for a new car, chances are you're trying to decide if you should purchase or lease your next vehicle. Although many people prefer leasing over purchasing or vice versa, there are advantages and disadvantages of both, so your final decision will depend totally on what exactly you're looking for. By weighing the pros and cons of both, you should be able to make a decision that you and your family will be satisfied with for years to come.

Happy Holidays, You're Fired

Tue, 18 Nov 2008 05:45:29 -0800

Roughly two thirds of the American economy is based on consumer spending on items like new cars, home improvement items, electronics, and other common goods and services. When consumers start slowing down in their buying, the companies that produce and sell these items make less money and slow down their production. Slowing production means that these companies don't need as many workers and that means that unemployment rises. With more people out of work, fewer people are making purchases of items that are considered luxuries or that can be postponed until better days. This is the self-reinforcing cycle in which the American economy now finds itself.

How To Avoid High Heating Bills

Mon, 17 Nov 2008 06:00:00 -0800

With winter rapidly approaching, you will undoubtedly be using your furnace a great deal in order to keep warm. Unfortunately, winter heating bills can really become unbearably high at times, which can be difficult to pay, especially if you're on a tight budget. It doesn't matter what type of heat you have, gas, electric, oil, or some other type, the bills can still creep up surprisingly fast. Fortunately for your pocketbook and your peace of mind, there is action that you can take in order to help keep your heating bills as low as possible this winter, while continuing to have a comfortable home.

Lowering the Costs of Legal Fees

Fri, 14 Nov 2008 05:44:40 -0800

Just about everyone will need the assistance of an attorney at sometime during their lives. No matter if the purpose is for something simple like creating a will or something a little more complex like a divorce or some type of criminal representation, seeking the expertise of a lawyer is often necessary. The problem with retaining a lawyer, though, is often the cost. Many people don't have the large retainer and other associated fees in order to pay in for a competent attorney's services. Fortunately, there are several ways to drastically reduce the costs of attorney fees.

Safety in Gold or in Golden Arches?

Thu, 13 Nov 2008 05:52:25 -0800

As people look for safe investment havens during the recession, many are looking at gold. Others, however, might do well to look for the golden arches that are the familiar trademark of McDonald's restaurants. The omnipresent fast food chain reported same store sales for October were up 8.2% over the same period last year. Although the chain's US figures lagged behind the rest of the world, the reported 5.3% US growth is still a very good number considering the state of the economy. McDonald's branches in the combined region of Asia, the Middle East, and Africa led the way with 11.5% same stores sales growth, while Europe operations managed a very healthy 9.8%.

Managing Your Mortgage and Credit Card Debt

Wed, 12 Nov 2008 06:00:07 -0800

Instead of saving, consumers have been refinancing or borrowing against their home equity and using credit cards as cash. But with home values decreasing and foreclosures increasing, debt no longer looks like the solution to consumers' money problems. Lenders are becoming more stringent in their lending criteria, while consumers are now faced with the reality that it is dangerous to live beyond your means. It's now time for everyone to return to the basics about debt. Consider the following strategies as it relates to your mortgage debt and credit card debt:

How to Buy a Home in a Weak Market

Mon, 10 Nov 2008 06:00:10 -0800

The purchase of a home is a major financial commitment. While it is a decision that should always be made with care, the weak real estate market means you should exercise even more caution. Don't let the excitement of looking for your dream home prevent you from following these eight tips:

Financial Lessons for Kids

Fri, 07 Nov 2008 06:00:24 -0800

It's a common enough goal -- to live a better life than your parents. While you may be able to say you accomplished that goal, how likely is it that your children will be able to say the same thing? To help them with that pursuit, make sure to teach them these important financial lessons:

Will Yahoo Get a Second Chance?

Thu, 06 Nov 2008 06:01:04 -0800

We recently wrote about Yahoo's (NASDAQ: YHOO) troubled stock price and questioned some of their business decisions. Now Google (NASDAQ: GOOG) has walked away from a plan to show its ads on Yahoo's search pages. This would have meant more revenue for Yahoo and would have been a needed shot in the arm for the ailing internet company. Yet even though the deal has fallen through, Yahoo's stock price was up over 5% in early Wednesday trading. The stock price is up because investors are hoping that Yahoo's management will get a second chance to make the right choice.

Tax Consequences of Outstanding Debt Exceeding Home Values

Wed, 05 Nov 2008 06:00:09 -0800

When the value of a home is less than the outstanding debt, the homeowner's options are dismal. Foreclosure, deeds in lieu of foreclosure, and short sales all result in the loss of the home with serious credit consequences for the homeowner. In addition, if the lender forgives part of the loan, the homeowner walks away with nothing, and there may still be the following tax consequences:

Ship Finance Limited: Hit Too Hard?

Tue, 04 Nov 2008 06:00:58 -0800

While volatility is still expected, the market in general looks as though it has found its bottom for the current cycle at least. Of course, with the US government now reporting a shrinking GDP and even formal measures indicating a full blown recession, further downside is certainly possible. But even with that risk, there are a number of companies trading at a considerable discount. Like every market correction or significant drop, prices will recover over the course of the next couple of years at the latest. That's not to say that some companies won't declare bankruptcy or disappear, they will. So although the entire market is on sale, it's still important to pick companies with strong fundamentals.

What is a Real Estate Short Sale?

Mon, 03 Nov 2008 06:00:42 -0800

Many homeowners are faced with the fact that their home's market value is less than the outstanding debt. Rather than going through a foreclosure or turning the home over to the lender, some homeowners are attempting a short sale, which is a home sale for less than the outstanding debt. According to the National Association of Realtors, short sales account for approximately 18% of home sales now.

The Advantages of Having a Paypal Account

Fri, 31 Oct 2008 06:04:49 -0800

Just about everyone who uses the internet regularly has heard of PayPal.com. Used as a way to send or receive money by email, PayPal.com has become one of the most popular ways to purchase auction items, receive payments, and much more. Used in many countries in addition to the United States, PayPal.com is safe, secure and convenient, and they even offer a credit card for you to use like any other credit card. You don't have to use it strictly for auction purchases, but for anything that you choose. Besides the fact that PayPal.com offers a convenient credit card to it's account holders, there are many other advantages of having a PayPal account, and if you don't already have an account you may very well want to sign up for one.

Another Bailout for Chrysler?

Thu, 30 Oct 2008 08:11:47 -0800

Chrysler is once again standing on the curb in Washington, D.C. begging for another handout. Taxpayers bailed the company out once back in the 1970's to the tune of 1.5 billion dollars of 1970's money. Now, Chrysler, in a joint effort with General Motors (NYSE: GM), is asking for another $10 billion in government assistance. Is it time to pull the plug on Chrysler and see if they can breathe on their own?