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Sunday Money Roundup – The Snow Is Back Edition.

OK, so after a few weeks of 50-60 degree temps, now we have a ton of snow on the ground. Guess winter was not really done with us yet after all! Thankfully I figured out how to get the top back on the Jeep (although I remember now how much of a pain in the arse it is to get it back on!). Anyway, while I get the shovel back out, here are some articles that caught my eye this past week:

Gather Little By Little talks about delayed gratification and teaching his son to save and work towards the things he wants. Great lesson here.

Cash Money Life compares 529 College Savings Plans vs. Coverdell ESA.

My Dollar Plan teaches you how to get started in real estate investing.

Generation X Finance talks about Investing in Your Most Valuable Asset – Invest in Yourself!

Good Financial Cents wants to help you teach your kids the value of money management.

Almost Frugal has a great post up titled “Being Frugal is Being Different“.

The Digerati Life has some advice that will help you for next year’s tax return – Preparing My Income Tax Return: How I Organize My Tax Documents.

Are You Going To Be This Way The Rest of The Time I Know You? talks about forgiveness and the value in it. A must read.

Moolanomy has some investing advice in “Investing In Treasury Inflation-Protected Securities“.

Remodeling This Life talks about getting back to basics. I love these kind of posts, they really hit home for me.

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Credit Card Research: IberiaBank Visa Gold Cash Back Rewards Card.

Since I get emails all the time asking about different credit cards and if people should be signing up for this, that, or the other one, this will be a new feature every week about different credit cards. This week’s card is the IberiaBank Visa Gold Cash Back Rewards Card, which has a 0% APR for 6 Months for balance transfers, no annual fee, and a 1% cash rebate per dollar spent on all purchases. (If you are reading this by RSS, you might have to click through to see all the details)

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Get ‘Yer Free Magazine Subscriptions Here.

If you haven’t checked out the My Two Dollars Free Magazines page lately, you might be missing out on free subscriptions to your favorites. Why pay for a magazine you want when you might be able to get it for free? But remember – don’t just get one because it’s free, get it because you actually want it. Unwanted free stuff just makes more clutter and waste!

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Money Quote Friday – Hearing A Different Drummer Edition.

Why should we be in such desperate haste to succeed and in such desperate enterprises? If a man does not keep pace with his companions, perhaps it is because he hears a different drummer. Let him step to the music which he hears, however measured or far away.

– Henry David Thoreau

Have a great weekend everyone.

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Banks Did Not Pay Their FDIC Insurance For 10 Years; Now Short On Funds.

Um, uh oh…

WASHINGTON – The federal agency that insures bank deposits, which is asking for emergency powers to borrow up to $500 billion to take over failed banks, is facing a potential major shortfall in part because it collected no insurance premiums from most banks from 1996 to 2006.

The Federal Deposit Insurance Corporation, which insures deposits up to $250,000, tried for years to get congressional authority to collect the premiums in case of a looming crisis. But Congress believed that the fund was so well-capitalized – and that bank failures were so infrequent – that there was no need to collect the premiums for a decade, according to banking officials and analysts.

Now with 25 banks having failed last year, 17 so far this year, and many more expected in the coming months, the FDIC has proposed large new premiums for banks at the very time when many can least afford to pay. The agency collected $3 billion in the fees last year and has proposed collecting up to $27 billion this year, prompting an outcry from some banks that say it will force them to raise consumer fees and curtail lending.

Are you kidding me? This is outrageous, and I blame both the greedy bankers and every single member of Congress from both parties that let this nonsense go on for that long. Wow, just wow. They don’t pay their insurance premiums, things go belly-up, they take our tax dollars, complain about restrictions put on them by taking said funds, and then they don’t even like lending it back out to us. Not even sure what more to say, this gets worse almost every day with these people…


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