Financial Headline News for Friday 3/30

 Phil's Financial Tip of the Day:
Even singer Kenny Loggins displays good common sense financial discipline to this day that he learned when he was first starting out in the music industry living on a shoestring budget of $65 a month in Los Angeles.

Kenny Loggins: 'I'm alright' being frugal

By Larry Getlen • Bankrate.com

Kenny Loggins spent the 1980s as the go-to guy for memorable movie songs, fueled largely, he says, by luck. The producers of "Top Gun," which came out in a special 25th anniversary Blu-ray edition in late August, only asked Loggins to sing the film's signature song, "Danger Zone," when Bryan Adams and Toto fell through. And he only wrote and recorded "Footloose" as a favor to that film's screenwriter because, he says, "'Footloose' is not 'Gone with the Wind.'" Nowadays, Loggins tours solo and also plays with his new band, Blue Sky Riders, which will release their music without a record company because, he says, "(the record companies) just want all the money."

Read more: Q&A Kenny Loggins | Bankrate.com http://www.bankrate.com/finance/celebrity-money/qa-kenny-loggins-1.aspx#ixzz1qe5qtLoK

Quote of the Day from Dave Ramsey.com:
Anyone who stops learning is old, whether at twenty or eighty. Anyone who keeps learning stays young. The greatest thing in life is to keep your mind young. — Henry Ford

Please listen to the Dave Ramsey show live on WOR 710 from 2-4 PM EST. You can also listen to the 3rd hour 4-5 PM EST on Dave Ramsey.com and at 8PM on WOR 710

Financial Headline News for Thursday 3/29

Phil's Financial Tip of the Day:

Better college loan options
An estimated two-thirds of graduating college students are burdened with student loans, $25,000 on average.

NEW YORK (WABC) -- Millions of students graduating from college this year will have a shadow hanging over their heads. An estimated two-thirds are burdened with student loans, $25,000 on average. And graduate school can push debt much higher.

Student loans are different from other types of loans. They can't be erased if you declare bankruptcy. And lenders can take money from your wages, tax refunds, and even Social Security if you don't pay up.

Consumer Reports advises taking out Federal loans such as Perkins or Stafford with fixed rates, rather than private loans from banks with variable rates. And with Federal loans, you get more flexible repayment options. Generally, with a Federal loan you don't have to start repaying until six months after you graduate or if you drop below half-time at school. At that time you may qualify for any number of payment plans.

To read the rest of the story and watch the video from Eyewitness News WABC-TV New York:
http://abclocal.go.com/wabc/story?section=news/consumer&id=8597659

Quote of the Day from Dave Ramsey.com:
The quest for excellence is a mark of maturity. The quest for power is childish. — Max Lucado

Please listen to the Dave Ramsey show live on WOR 710 from 2-4 PM EST. You can also listen to the 3rd hour 4-5 PM EST on Dave Ramsey.com and at 8PM on WOR 710

Financial Headline News for Wednesday 3/28

Phil's Financial Tip of the Day:

How Much Do I Need For Emergencies?

Dave Ramsey always recommends 3-6 months to have in an emergency fund in the event of a loss of job, medical emergency, short-term disability, etc.while Suze Orman preaches to have 8 months stashed away for a rainy day.

Use this calculator from Fox Business to help determine how much you need to set aside monthly or as a lump sum to create an emergency fund:
http://www.foxbusiness.com/personal-finance/tools/how-much-do-i-need-for-emergencies.html

Quote of the Day from Dave Ramsey.com:
Indecision is often worse than the wrong action. — George Burnham

Please listen to the Dave Ramsey show live on WOR 710 from 2-4 PM EST. You can also listen to the 3rd hour 4-5 PM EST on Dave Ramsey.com and at 8PM on WOR 710

Financial Headline News for Tuesday 3/27

Phil's Financial Tip of the Day:

A Dozen Ways to Save a Dollar
Tips from self-made millionaire Clark Howard's book Living Large in Lean Times.From Reader's Digest | August 2011

Clark Howard is a down-to-earth, self-made millionaire with a syndicated radio show and a popular website (clarkhoward.com). He’s the one you see on HLN in a simple studio, standing with a boom microphone as he takes calls from viewers and tells them how to save money and make money. Now, in Howard’s Living Large in Lean Times (Avery, $18), he puts his advice between two covers. Our favorite tips:

http://www.rd.com/money/a-dozen-ways-to-save-a-dollar/

Quote of the Day from Dave Ramsey.com:
Know where to find the information and how to use it. That's the secret of success. — Albert Einstein

Please listen to the Dave Ramsey show live on WOR 710 from 2-4 PM EST. You can also listen to the 3rd hour 4-5 PM EST on Dave Ramsey.com and at 8PM on WOR 710

Financial Headline News for Monday 3/26

Phil's Financial Tip of the Day:

Borrowing from a 401(k) may cost you more than you think

Money Watch, a personal finance column that runs every Saturday, features a financial planner from the National Association of Personal Financial Advisorsanswering reader questions about saving, protecting and growing your money. To submit a question, e-mail USA TODAY personal finance reporter Christine Dugas at: cdugas@usatoday.com.

As Dave Ramsey always says, it is like taking a loan out at 40% when you borrow from your 401(k). The only time you should do this is to avoid bankruptcy.

To read the article from USA Today:
http://www.usatoday.com/money/perfi/columnist/moneywatch/story/2012-03-24/starting-small-business-401k-loan/53741186/1

Quote of the Day from Dave Ramsey.com:
Success is not final, failure is not fatal: it is the courage to continue that counts. — Winston Churchill

Please listen to the Dave Ramsey show live on WOR 710 from 2-4 PM EST. You can also listen to the 3rd hour 4-5 PM EST on Dave Ramsey.com and at 8PM on WOR 710

Financial Headline News for Friday 3/23

Phil's Financial Tip of the Day:

As Card Firms Try Social Media, Critics Keep Watch
From The Wall Street Journal

Credit-card lenders are mining their customers' "likes" on Facebook and scouring tweets on Twitter as they look for new ways to entice existing customers to use their cards more frequently and raise their appeal among younger consumers, avid users of social media.

But some experts worry these platforms may give lenders another door around rules that took effect two years ago aimed at protecting young consumers.

Do you think guidelines should be set for how credit-card companies interact with customers on Facebook, Twitter and other social networks? If so, what should they say?

To read the rest of the article from The Wall Street Journal
http://online.wsj.com/article/SB10001424052702304724404577297860607013698.html?mod=e2fb


Quote of the Day from Dave Ramsey.com:
Never stop. One stops as soon as something is about to happen. — Peter Brock

Please listen to the Dave Ramsey show live on WOR 710 from 2-4 PM EST. You can also listen to the 3rd hour 4-5 PM EST on Dave Ramsey.com and at 8PM on WOR 710

Financial Headline News for Thursday 3/22

Phil's Financial Tip of the Day:

Five Ways to Manage Data Use on Your New iPad
Users of the new iPad are learning that its new high-speed wireless connection can be blazing fast, but painfully expensive. Andrew Dowell joins digits with five ways to consumers can cut those costs

Users of the new iPad are learning that its new high-speed wireless connection can be blazing fast, but painfully expensive. That's the downside of making it easier to watch TV on the go.

Cutting through the tangle of their plans, AT&T Inc. T -0.41% and Verizon Wireless generally will bill you about $10 for every gigabyte of data you use.

Verizon estimates that's enough to watch about an hour and a half of standard-definition video on your new iPad— or about the cost of sitting down at a movie.

If you want to take advantage of your new iPad's super-sharp screen and stream high-definition video, your bill will get even steeper: Be prepared to consume two gigabytes an hour, Verizon says.

There are ways to use your iPad to watch movies without shelling out an arm and a leg. The rub is most involve limiting the use of the LTE wireless broadband connection that is one of the main selling points of the new device.

Here's what to do:
• Use Wi-Fi whenever possible-at home, at work, in hotels and in coffee shops. Wi-Fi, which runs through landline Internet networks rather than the mobile network, doesn't count against your Verizon or AT&T data cap.

To read the rest of the article from The Wall Street Journal:
http://online.wsj.com/article/SB10001424052702303812904577294022684911852.html?mod=ITP_marketplace_0

Quote of the Day from Dave Ramsey.com:
God feeds the bird, but he doesn't throw the worm in the nest. — Andy Andrews

Please listen to the Dave Ramsey show live on WOR 710 from 2-4 PM EST. You can also listen to the 3rd hour 4-5 PM EST on Dave Ramsey.com and at 8PM on WOR 710