Best 20SomethingFinance Posts of 2009

December 31st, 2009

Hi 20SF’ers. This will be the final post of 2009. It’s been a fantastic year (the second full year), and I’m very excited about where things are heading with the site in 2010.

20somethingfinance has grown to well over 2,000 subscribers and 50,000 monthly visits (and it keeps doubling every few months). Thanks to all who have helped build a strong community here at 20somethingfinance in 2009.

For 2009, here’s a month-by-month breakdown that includes some of my personal faves and the most commented on posts. If you’

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Counterparty Risk: Reform is Overdue

December 30th, 2009

This is the third and concluding article in a series that covers the perverse government bailout of AIG. The first piece covered how the insurance industry operates and where problems can arise, the second dove into the moral hazard of the AIG bailout, and this third piece will address not only the risks, but the history of over-the-counter [OTC] trading and what should be done to resolve its weaknesses. I do not believe that OTC trading should go away entirely. OTC trading has served a purpose for specialized transactions or when specific financial instruments are first traded.

When discussing over-the-counter instruments we are not talking about stocks trading via pink sheets or OTC because their price has dropped below exchange listing criteria.

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2010 Resolution #4: Reduce My Entertainment and Hobby Spending by 50%

December 30th, 2009

In an effort to talk about the power of goal-setting along with some methods of setting and achieving goals, I’m going to discuss my four resolutions for 2010 this week.

In 2009, I really overspent on my hobbies. My board game collection expanded significantly. I picked up several new video games and computer games. I picked up several new items for the kitchen that were fairly pricey (Le Creuset isn’t inexpensive). Perhaps worst of all, I purchased quite a few books that I probably could have easily checked out at the library.

These purchases weren’t impulsive and they weren’t things that I could not afford. We still spent far less than we earned for the year. My conc

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Best Credit Card Tips for 2010

December 30th, 2009

The new credit card law that takes effect in 2010 will bring about changes for issuers and cardholders. Issuers will be bound by restrictions on rate hikes and fees and increased disclosure requirements. Borrowers will need to know the key provisions in the law and the loopholes.

Bankrate has put together a top ten moves for you to consider for 2010 when it comes to your credit cards. These moves include improving your credit score to get better rates, paying off your holiday purchases, using inactive credit cards to keep them active- and to make sure the credit card issuer does not close them for inactivity.

Also on the list is to use caution when closing credit cards.

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Mexico Travel Emergencies: Ending Your Mexican Vacation Early!

December 30th, 2009

Whether it is due to an illness of yourself or another member of your travel party, death of a family member or personal emergency back home, sometimes it may be necessary to end a Mexican vacation early and head back home. For travelers who have purchased a comprehensive type of travel insurance, there should be no problem seeking assistance with these matters; however, not all travelers purchase this type of insurance. Due to many hotel and airline policies, forfeiture of one night’s hotel fees may occur, or in the case of airlines, additional charges to change the reservation may be imposed.

Mexico travel experts strongly suggest you obtain Mexican insurance. before your travel begins.

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Consumers wary of online credit card transactions

December 30th, 2009

Even with a renewed focus on paying down debt, Americans have been increasingly inclined to use their credit cards for online purchases in recent years.

However, a recent poll indicates that many consumers are still apprehensive about the threat of identity theft when it comes to shopping online. The Rasmussen survey found that 49 percent of adults consider themselves “somewhat” comfortable when it comes to online purchases, which was said to be down 11 percentage points in the past year. Also, 47 percent said they were not comfortable with online credit card transactions.

The polling company noted that people who use the internet on a daily basis are more likely to be comfortable with online credit card use. Read more…

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