World of Finances

Its Independence Day (week) and our country is facing a challenging time. Our national debt is over $14 trillion and our annual budget deficit is around $1.3 trillion. Nobody can dispute that spending is much higher than revenues.

But

What is the best way to close that gap?

Some think we should cut away to eliminate our debt.

Others think we should increase taxes, particularly on the rich.

And some think well need a heavy dose of both.

What do you think? Take the poll (and enjoy the highlights of the week):

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20SomethingFinance Highlights:

- Just a New Slogan: No. Its a Mission: I decided to change the slogan for 20somethingfinance. Ironically, the message of freedom was launched on Independence Day. Coincidence?

- U.S. Vs. Canada Consumer Spending: A look at American and Canadian spending habits and how each budget their money.

- Chase Freedom $200 Bonus Now Easier to Get: The Chase Freedom card now allows you to get $200 cash back if you charge only $500 in the first 3 months.

- I also contributed the following post to Mint: Friends Owe you Money?

Full Article…

How to overcome debt; it is not simple, it takes guts and it is a difficult time to get through, but anyone can do it. Credit card problems are the main concern when it comes to money worries and the amount of financial stress these little plastic guys can cause is unbelievable. You can easily become blacklisted by not paying your credit card installments and having a bad credit record is not something you want now, or any time in the future. It is a nightmare to live with and your life will honestly not be the same once you are blacklisted.

There are counsellors that will help you deal with the financial stress when you are trying to overcome debt; have a session with a counsellor that specializes in this field and you will feel a lot better. You might need more than one session, but that’s fine; have as many as you need. Your money worries won’t go away unless something drastic happens like you get an unexpected inheritance or win the Lotto, but it does get easier to deal with, especially so if there are good counsellors involved in the process.

Full Article…

Volatility-linked exchange traded funds rallied Friday as signs the European debt crisis is worsening contributed to a nearly 10% rise in the CBOE Volatility Index.

The iPath Long Enhanced S&P 500 VIX Mid-Term Futures ETN rose 7%. Exchange traded notes and products are designed to track VIX futures rather than the spot price, so their performance differs.

The VIX this month has pushed above its 200-day moving average for the first time since the March wipeout in stocks. The Dow fell more than 100 points on Friday while ETFs tracking Italy and Spain were down sharply on debt concerns.

Over the past week, the VIX itself has been volatile, bouncing in a range between roughly 18 and 25. The “fear index” closed above 21 on Friday.

It seems some options traders have been caught on the wrong foot as the VIX rises.

Full Article…

How to overcome debt; it is not simple, it takes guts and it is a difficult time to get through, but anyone can do it. Credit card problems are the main concern when it comes to money worries and the amount of financial stress these little plastic guys can cause is unbelievable. You can easily become blacklisted by not paying your credit card installments and having a bad credit record is not something you want now, or any time in the future. It is a nightmare to live with and your life will honestly not be the same once you are blacklisted.

There are counsellors that will help you deal with the financial stress when you are trying to overcome debt; have a session with a counsellor that specializes in this field and you will feel a lot better. You might need more than one session, but that’s fine; have as many as you need. Your money worries won’t go away unless something drastic happens like you get an unexpected inheritance or win the Lotto, but it does get easier to deal with, especially so if there are good counsellors involved in the process.

Full Article…