Category: banking

Combining Finances When Getting Married.

Just the other day, Green Panda Treehouse wrote up a great post discussing joint accounts, budgeting and married couples. And while I gave her my thoughts on it for her post, it reminded me that I wrote a post in May of 2007 about what we did after we got married. In light of being reminded of this post, here is what it said:

I have seen lots of different advice on whether or not couples should combine their finances when they get married. Some say you should combine everything right away, and other say you should keep things separate, if only so you each have spending money. So after seeing all these, I wanted to share what we did when we got married in 2005.

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banking

By David

What You Could Do With $700,000,000,000.

According to a recent Time magazine, you could:

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Give each person in the U.S. $2,300
Pay the income tax of every American making less than $500,000
Fully fund the Defense, Treasury, Education, State, Veterans Affairs, and Interior Departments – as well as NASA
Buy gasoline for every car in the U.S. for 16 months
Buy every NFL, NBA, and MLB team, build each a new stadium, and then pay the players $191 million a year
Or, you could pay off 7% of the $9.8 trillion national debt.

banking

By David

What Happens When A Bank Fails.

In light of everything that has been going on for the last couple of weeks in our financial system, I decided to go look up exactly what happens when a bank fails. Lucky for me, and for other consumers, the FDIC puts it right on their website – no digging around like a typical governmental site! So without further ado, here is what happens when your bank fails:

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banking

By David

Washington Mutual Fails; Getting Sold Off To J.P. Morgan.

And yet another one bites the dust. However, at least for now, this one shouldn’t cost us a dollar in bailout money as J.P. Morgan Chase & Co. has bought them up without the help of the government. *Update – it might, according to the WSJ, as JP Morgan is not taking everything.This is the single biggest bank failure in history, with part of the reason being that the bank lost $16.7 billion in deposits since Sept. 15 – ouch. But under this sale, J.P. Morgan will assume Washington Mutual’s deposits and branches, and they should be able to avoid using money from the FDIC’s deposit insurance fund – which I am sure is quickly being depleted. For some reason the government is not helping J.P. Morgan pay for this acquisition, unlike the last bank they took over.

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banking

By David

Signs That Indicate Our Economy Is About To Collapse.

A reader passed this along to me, and I am still waiting for the link to where it came from (if he did not write it himself; it was all that was in the email), but I found it to be pretty interesting and wanted to post it here. Seems someone that probably knows more than I do put together a list of indicators that our economic system is about to collapse and what we should be looking for. What do you guys think? I especially want to hear from those of you who know more about economics than I do (which, as little as it is, is still more than S. Palin knows. )