NBC news reports, as of an hour ago, that Sears in the U.S. may be filing for bankruptcy in the next few days. A few years ago I commented that Sears and Best Buy wouldn’t last: Sears Canada went under this January, and now in the U.S. where they has not been profitable for eight years. Best Buy is still around, but shrinking a lot in the U.S.
Great news: Books are back! As someone who has written 18, and has nine actively selling books, I loved that news. Hardcover sales are up 5% in the last five years, and softcover books are up over 17% in that time. The Kindle, Nook, and other e-readers are fading, but then, it’s always been known that your retention reading from a screen is less than an actual physical book.
The sad news is that 33% of high school graduates, and 42% of university grads, never read another book the rest of their lives. (from a book industry study group) Yet, if someone reads only two books on credit, finance, and/or investing they’d be smarter, and significantly better off than 95% of all adults…and that includes most bank staff!
Two banks right now are heavily promoting their credit cards by touting that they have fraud alerts to protect you. Sorry, but that’s marketing and not factual. You’re totally protected against fraud by federal law and not by the good graces of credit card companies. If it wasn’t your charge, it’ll be taken off your statement and they’ll issue you a new card – period. Don’t fall for the marketing. If you’re looking for a new credit card you need to remember three tips:
Cut up the one it’s replacing but don’t cancel it with the card issuer or it’ll drop your credit score. Cutting it up keeps it alive but also keeps you from the temptation of using that one, too! If you ignore that advice, there’s an 80% chance you’ll have your old one and your new one maxed out within two years. If you sometimes run a balance, it needs to be one of the 11.9% rate cards. If you always pay in full, look for the perks that you’ll actually use and a low annual rate.
Sometimes fraudsters are really clever and I certainly have a lot of empathy for people who are victims. But I have zero sympathy for a lady named Mary. She was conned out of $11,500 by a Bruce Springsteen impersonator (first reported by CBS Chicago). The story was that Springsteen was getting a divorce so all his money was tied up and needed iTunes gift cards and cash. Springsteen, along with New England NFL player Rob Gronkowski (who’s actually in the Money Tools book) are two of the most conservative public figures with their money! Sorry, Mary, but I can’t find an ounce of sympathy: A zillionaire is hitting you up for a few buck? And he wants it in iTunes gift cards? And he does it off his Facebook fan page?
George Boelcke – Money Tools & Rules book – yourmoneybook.com