A debit card traditionally has been defined as plastic with limits - one can only spend today what one has in one’s bank account today. Traditionally, a credit card has been defined as plastic without some of the limits – one can spend today more than one has in one’s bank account today, up to the credit limit established by the card issuer, with a legal obligation to eventually pay it all back later, with interest.

But now there’s a new form of credit that’s been created by the opportunistic folks at Kwedit, a new payment network targeting the young and the otherwise unbanked, a group that is most likely financially unsophisticated.   Read the rest of this entry »

The hosting company that hosts our website had an accident two weeks ago.  A big accident.  Despite their extensive security and redundant systems, they not only lost forever all the data on our server, but they also lost forever all the data on our backup server.  Read the rest of this entry »

That’s the email I received this morning in my in box. I was stunned. $150??? For a Valentine’s Day gift??? In today’s world $150 can be what a family has to spend on a week’s worth of groceries. Read the rest of this entry »

I recently wrote an article for the Live Simply segment on cozi.com, a website created to help busy families manage all the things they do. In the article, I list a few tips to help families talk about money to help start off the new year — especially if the holidays took a toll on your bottom line. Read the rest of this entry »

Start spending. I know, this sounds strange coming from me — but I really mean it — start cashing in your gift cards and certificates now. Read the rest of this entry »

I was at lunch the other day with a few octogenarians. Seniors with savvy money advice. One gentleman, 87 years old, told me that his mother taught him how to live life frugally. Read the rest of this entry »

The Monday Savvy Pig made it on The Early Show just before the end of the year. A special “thank you” to Maggie Rodriguez, co-host of the show, for selecting the Money Savvy Pig as a “Maggie’s Favorite Thing.” Here’s the clip.

This month the results of a National Financial Capability Study was released by FINRA Investor Education Foundation. The results establish a base measurement of Americans’ ability to manage their money. Read the rest of this entry »

This week, the U.S. Treasury Department, in conjunction with the President’s Advisory Council on Financial Literacy, announced its upcoming National Financial Capability Challenge (formerly the National Financial Literacy Challenge). Read the rest of this entry »

Just before we left for church this past Sunday, I came down to see both my charming, intelligent, good-hearted and level-headed teens “dressed” and ready to go. I was pleased. There they were, no complaints and already had breakfast with 10 minutes to spare before we had to walk out the door. Read the rest of this entry »